Property News – All The Latest Updates
From last week’s crowdfunding news to the latest news in the property industry, it has once again been a busy few weeks in both sectors!
We have selected our favourite and most relevant stories to share with you from looking at the areas of the UK which will see the biggest house price rises by 2020 to looking at Liverpool homes for £1.
House Price Rises in 2020
Analysts at JLL have looked into their property crystal ball and have predicted that house prices around the country will rise in 2020. In the South East, the average home will increase by 26.4% by 2020 which will be the highest house price rise in the UK.
The most dramatic price rises will be seen in major UK cities such as Bristol, Leeds, Edinburgh, and Manchester (we’re chuffed to see!) which are predominately attracting university graduates and people who are looking for new jobs.
The ramifications of the Chinese economy could also have knock-on effect on the housing market. If there are economic uncertainties in China it could knock confidence in the stock market and would impact the stability of jobs, and also companies from the UK that sell to China.
The likes of Manchester (check out very own Manchester guides – North and Central Manchester) and Yorkshire areas such as Leeds and Harrogate, for example, are attracting a lot of young companies and graduates seem happy to stay and find jobs in their university city. A huge factor for counties like Yorkshire, (which you can find more info in our very own Yorkshire guide) is that in the affluent areas of the region, people there are not constrained by affordability compared with areas in London for example and as a result, growth has not been hit by stamp duty.
Do you have an interest in the North West and Yorkshire? Why not take a look at our latest property investments.
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Hotel of Mum and Dad – A Fifth of Adults Live at Home with Parents
Recent news items have revealed that a fifth of young adults are staying at home until they are least 26, it has also revealed that they are not paying a penny for their keep.
Research conducted by Nationwide that the proportion of young adults living at home varied around the country. In the East Midlands the percentage of young adults living at home was just under 9%. In contrast, the number of young adults at home more than doubled in London, where house and rent prices are the highest in the country.
So why is the hotel of Mum and Dad a common sight these days? A lot of young adults are being squeezed by low wages and astronomical rents, this has left many who want to save up for a property to instead live at home. Research from Shelter has indicated that half of tenants were unable to save a penny towards a deposit, whilst a quarter could only put by £100 or less each month. (Guardian, October 2015).
Look out for our forthcoming survey on this matter.
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Quids in : Liverpool property for £1
Thousands have applied to buy more than 120 boarded up Victorian houses for £1 in Liverpool.
Although this might seem like a great bargain, buyers have to be committed to the city and have a lot saved to refurbish the properties.
According to the BBC, 2,750 people have expressed an interest in the Victorian houses which are located in the Picton area of the city.
To be eligible for the scheme, applicants must have either lived or have worked in Liverpool, be employed, and must be a first time buyer. Applicants who have children and have a good credit history are also welcomed.
This is one city in particular that we have been involved with and have refurbished some properties around the Liverpool area (You can view our Liverpool guide here). We have just finished a project in Bootle.
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Ireland Tipped To Be A Crowdfunding Leader
Although this week we have predominately focused on property, we thought we would add some crowdfunding news in as well and look at a case study from our Irish neighbours.
Ireland ticks so many boxes to the next crowdfunding leader according to many leader experts.
The country has a successful entrepreneurial landscape, a good start-up scheme in place, as well as government backing and a good network of venture capital investment.
Having a good start-up ecosystem in place, more projects are on the cards across many sectors in Ireland. Crowdfunding is predicted to grow into a $100 billion industry by 2025.
What is particularly interesting about Ireland is that it has invested €401 million in start-up companies which makes it an ideal place. However, a reason that the Irish scene has been overlooked to some extent (which was recently mentioned by a crowdfunding expert) could be linked to the lower number of large-scale flotations which is quite separate to the entrepreneurial landscape of the country.
With the luck o’ the Irish we still reckon it has a lot of potential to be a big player in the European crowdfunding scene.
Manchester Featured In Lonely Planet’s Top 10 Must Visit Cities Of 2016
Forget London – Manchester is the must see destination for next year according to Lonely Planet.
The city has been described in Lonely Planet as “This one-time engine room of the industrial revolution has found a new groove for the 21st-century as a dynamo of culture and the arts.”
Travel experts mentioned that the Whitworth Art Gallery (which reopened last year) as the country’s most important and one of our favourites here at The House Crowd!
In addition, The National Football Museum, boutique shops on South King Street, as well as the “industrial chic” of the dining room at Manchester House were also mentioned.
What’s your favourite thing about our city?
What Are Your Thoughts?
Which of our hand picked stories has interested you the most? We would love to hear from you, feel free to leave us a comment via our Facebook and Google Plus pages. If you prefer to tweet us, please tweet us @TheHouseCrowd.
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