Renter's Rights Bill - Exclusive Basingstoke Landlord Event

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How will the Election Impact the Basingstoke Property Market?

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After the governments surprise announcement of a snap election of 8 th June 2017, a number of our customers have asked me how this is likely to impact the housing market. It is fair to say that historically, a general election has usually signalled a decline in property sales, just before the election, only for this to return to normal figures shortly after the dust has settled. However, given that general elections since 1980 have nearly always fallen in May or June, looking at the seasonally adjusted figures since 2005, it would suggest this is nothing more than an annual trend in the housing market.   Source: HMRC The main highlights from the graph above are: ·          The number of property sales drop from their peak of 150,000 per month at the end of 2007 (coinciding with the credit crunch/recession). ·          A peak in December 2010 coinciding with the end of the Stamp ...
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Basingstoke First-Time Buyers Are Paying 14.9% More Than 12 Months Ago

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Figures just released by the Bank of England, show that for the first half of 2016, £128.73bn was lent by UK banks to buy UK property - impressive when you consider only £106.7bn was lent in the first half of 2015. Even more interesting, was that most of the difference was in Q2, as £68.12bn was lent by UK banks in new mortgages for house purchase, which is the highest it has been for two years. Looking locally, in Basingstoke last quarter, £758.6m was loaned on RG22 properties alone! Even though the Bank won’t be releasing the Q3 figures until December 2016, HMRC have published their own preliminary data to suggest Q3 will be even better, with a massive growth of buy-to-let landlords to the housing market in that time frame. Fascinating, as it seems to fly in the face of the popular narrative – that the uncertainty surrounding Brexit would negatively impact buyer sentiment. And it’s not just buy-to-let landlords that seem to be flourishing. I am finding that first-time buyers a...
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£56m a year black hole in the Basingstoke Property Market

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Since the time when Margaret Thatcher first announced that everyone should own their own home in 1971, the percentage of people who owned their own home grew from 50% in 1971 to 69% in 2001. Since then, there has been a steady decline, with the figure at just 64.8% in 2015. This has been partly driven by rising house prices, partly by the increase needed in the deposit first time buyers need to find, and party because Basingstoke first time buyers were in competition with Basingstoke landlords to buy these smaller starter homes, pushing house prices up in the 2000’s beyond the reach of first time buyers. Many other factors have also impacted this of course, such as  economics, the banks and government policy. Despite the rhetoric from the government and certain charities, I believe that the landlords of the 5,499 Basingstoke rental properties are making many positive contributions to Basingstoke and the people of Basingstoke. Basingstoke (and the rest of the UK) is not...
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