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Showing posts from June, 2019

Home Ownership among Royal Tunbridge Wells’ young people has nearly halved in 20 years

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The proportion of 25 to 34-year olds who own their home in Royal Tunbridge Wells has nearly halved in the last 20 years, so what does this mean for all the existing Royal Tunbridge Wells landlords and homeowners together with all those youngsters considering buying their first home? Well, looking at the numbers in greater detail, in Royal Tunbridge Wells there has been a 43.5% proportional drop in the number of 25 to 34-year olds owning their own home between 1999 and 2019 .. and a corresponding, yet smaller drop of 21.2% of 35 to 44-year olds owning their own home over the same time frame. So, if you were born in the late 1980’s or early 1990’s, the dream of owning a home in Royal Tunbridge Wells has reduced dramatically over the past 20 years as young adults’ wages and salaries are now much lower in relation to Royal Tunbridge Wells’ house prices. Nationally, average property values have grown by 186.9%, whilst average incomes have only risen by 44.8%, yet that doesn’t allow for infl

Royal Tunbridge Wells Property Market Do We Have the Right Sort of Royal Tunbridge Wells Homes For the 21stCentury?

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Would it surprise you to know that in some parts of Royal Tunbridge Wells, predominantly prosperous areas with high proportions of mature residents, the housing crisis is not one of supply so much as dispersal of that supply? Theoretically, in Royal Tunbridge Wells there are more than enough bedrooms for everyone - it’s just they are disproportionately spread among the population, with some better-off and more mature households living in large Royal Tunbridge Wells homes with many spare bedrooms, and some younger Royal Tunbridge Wells families being over crowded. Yet it is not the fault of these well-off mature residents that this is the current situation. Let’s be frank, Royal Tunbridge Wells doesn’t have enough housing full stop (otherwise we wouldn’t have the large Council House waiting list and all the younger generations renting instead of buying), but up until now it hasn't been clear that Royal Tunbridge Wells actually also has the wrong types of properties.  We're not b

Royal Tunbridge Wells Property Market vs London Property Market

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Anyone would think that national news, especially when it comes to talking about the property market, is just focused on London centric. In fact, over the last 5 years, the London property market has really manipulated the UK on averages to such an extent that many lenders like the Halifax and Nationwide publish two indices, a national one without London and one with. Now it’s true the London property market has undergone some quite acute property price falls. In the upmarket areas of Mayfair and Kensington, the Land Registry have reported values are 11.3% lower than a year ago, yet in the UK as a whole they are 1.3% higher. Yet look around the different areas and regions of the UK and Northern Ireland, property values are up 5.8% year on year, whilst over the same time frame, the East Midlands is 3.9% up and Yorkshire is 3.7% up. So, what exactly is happening locally in Royal Tunbridge Wells and what should Royal Tunbridge Wells landlords and homeowners really be concerned about? Well