Government says "Get Britain Building!"

The government clearly agrees that there is an issue with the current UK property market:

"For decades, there have not been enough homes to meet the needs of our growing and ageing population. From 2009 to 2010, only 115,000 new-builds were completed in England – fewer than any year in peace time since the 1920s and nearly a quarter of a million homes in England have stood empty for more than 6 months."

The statement continues by summarising "the government's priority has been to rectify a situation where lenders couldn't lend, so builders couldn't build and buyers couldn't buy". However, apparently, that is all set to change!

The proposed "rectifying" actions include:

• removing complex building regulations
• providing finance for those in-need
• support for those who cannot currently afford the deposit

And so, the question is, will we soon see Britain Building a future for our property development/ construction industry and for those who need help getting onto the property market in the first place? After all, 2011's strategy entitled "Laying the Foundations" which dictated that it would ""get the housing market moving again" had questionable success. In 2013 the number of houses actually built in the UK fell 9% compared to 2012. The Guardian's report stated that council house building collapsed from 185,000 units to less than 1,000 a year across most of the previous decade. [source] 

Yet at Dawson & Associates we remain optimistic for a property market that has, without doubt, experienced some significant bubbles of interest over recent years. After all, we did previously dub 2014, "the year of improvement" [see blog: UK PROPERTY PRICES and trends 2014-2014] and this is a trend that we envisage continuing with the vigour or a newly reinstated government and market confidence.

Currently new house completion is up 10%. 4000 more homes were built between January and March of 2015 than the previous year. Whilst cynics are quick to remark that this isn't sufficient to meet requirements, Dawson's believe that we should applaud, at least a little, the positivity. After all, this is the highest number within the financial year for 6 years! 

Housing minister, Brandon Lewis, says "Housebuilding is at the heart of our plan to ensure the recovery reaches all parts of our country. We're turning around an industry that was devastated and getting the country building again."

Good news, as much of the property updates often focus on London alone.

Of course, building a property is a lot more than just bricks and mortar. Thorough, efficient and effective planning is required whether it is the government, the local authorities or the individual investor who is concerned. Dawson & Associates strongly advises any first-time or experienced buyer to still consult a property professional before taking advantage of this currently complex property market. It goes without saying that the basics, such as a building survey, always be instructed. But in addition, there are considerations such as planning applications, refurbishment intentions, maintenance works and valuations. We provide a full range of property services and our intention is ALWAYS to ensure the longterm safety of your investment. Please contact us for more information.

http://www.dawsonsurveyors.com/services.html

Click here for full information on this Government Policy

The Politics of Property

A recent report in the mirror announced that David Cameron's overwhelmingly successful re-election will now see house prices continue to increase in the UK. The tabloid actually states an impressive rate of £100 per day, taking the average house price to £200,000.
[source: http://www.mirror.co.uk/news/uk-news/general-election-2015-house-prices-5663650]

It is said that at 10pm on the dot of the election results announcement, a "frenzy" of million pound properties were brought to market. And sold! Apparently the absence of the mansion tax, as threatened by the opposing party, gave home owners and potential buyers the confidence to go to market. 

But what is the underlying reason for this general and sudden upsurge? 
Political stability aids global economic stability and therefore financial success. "Martin Ellis of the Halifax added, "Housing demand is being supported by a number of factors including economic improvement, rising employment and low mortgage rates". So... all is looking positive for the UK property market.

The only drawback … 
can supply meet demand? Property Correspondent, Anna White, states that with "30 years of neglect, a chronic supply crisis has enveloped Britain, especially in the South East". And in that case, is the Tories promise to help people to buy a home actually helpful? Less so if there are few houses available to buy and therefore, once again, putting the emphasis back on rising prices.

The Conservatives did pledge to build 200,000 discounted starter homes to aid first time buyers. But it is London that is most in-need and London will not benefit from this manifesto inclusion. The National Housing Federation estimates that only 15% of London-based renters would actually be able to buy in the current conditions. 

In the Guardian, Richard Brown suggests a possible solution, "There is also a case to be made for pooling developers' affordable housing payments across London to support a London-wide programme for affordable housing." Of course, we all know that living in central London is always going to be a premium investment and therefore he adds, "The next mayor may also want to encourage higher densities to outer London, or push to look again at London's green belt, and ask where releasing land (perhaps under public sector control) might provide more housing and more enjoyable green space."

The obvious summary is that politics and governments play a key role in the way (place) we physically live our lives in the UK. Investment support is on offer with the ongoing "help-to-buy" scheme and the development of new properties is certainly not being overlooked. In fact, the government did release a new policy paper on May 7th that clearly states that the government has a priority to rectify the situation of inadequate property construction since 2009. 

Dawson & Associates sees opportunities arising in the next phase of the UK's property market. There is a renewed focus and an understanding of its importance from all sectors. The perceived market stability will not only aid private investment but also corporate development which should open up more property options. 

Dawson Surveyors is based in East Sussex and we maintain constant connection with central London – and with over 45 years of Property experience, there isn't much that we haven't seen before. So, if you're looking for some impartial property advice – whether that is an overview of where and how is best to invest or a building survey to ensure that the home that you've seen is structurally sound – please contact us. Initial advice is free of charge.


Registration forms for the Help to Buy: Equity Loan scheme can be downloaded here

Premium Property Locations – at Sensible Prices

With over 45 years of Property Industry experience, we at Dawson & Associates know that even the most seemingly competitive (expensive) locations have a few hidden secrets where savvy investors can make the most of their money. All it takes it to expand that property search area, just a couple of miles or so...

http://www.telegraph.co.uk/finance/property/11573100/Shut-out-by-sky-high-house-prices-The-best-10-spots-to-buy-on-a-budget.html

This is a theory that was supported in a recent article in The Telegraph, entitled " Shut out by sky high house prices? The best 10 spots to buy on a budget". And we are delighted to see that one of our favourite, nearby locations holds 9th position. As the article rightly states, Tonbridge is enjoying significant investment which is now making it a "town to watch". This is a cosmopolitan, individual town that is free from the pre-fab industrial parks and same-same brand names that we see in so many other areas of the UK. It is only 4 miles from Royal Tunbridge Wells but you are likely to pick up a comparable property for 30k+ less. It has a wealth of history and retains a charming market town atmosphere.

Of course, its ease of transit to central London is a big bonus with a busy train station plus the A21 and A26.

Petersfield, the "low cost Winchester" is another top tip – not only due to its economic  and London-commuter benefits (mainline fast train) but also for its proximity to the beach! Imagine! Our capital AND the coast within easy reach. 

Property investment gems such as this obviously exist all over the country. The Telegraph refers to them as "in-betweeners" and not only do they provide financial benefits, but also a tranquility that is not available in more obvious locations. 

Dawson & Associates is based in Rye, East Sussex and this is an area also blessed with beauty, convenience and property opportunity. Historic Hastings has certainly proved an attraction to more than just the Normans. As has Battle, Brightling, Lewes and of course, Brighton.

One of the most important tools for a successful property search is research. Often it is not the most obvious characteristics that are the most sensible and there are always pleasant surprises along the way (as opposed to a few shocks if the required time-investment is not applied).

If you would like more information on property within the region of Sussex, London or further afield, please feel free to contact the Dawson & Associates team of advisors. 

And remember, a building survey is an essential part of any property purchase.