Talk to many Hounslow 20 something’s, where home ownership has looked but a vague dream, many of them have been vexatious towards the Baby Boomer generation and their pushover ‘easy go lucky’ walk through life; jealous of their free university education with grants, their eye watering property windfalls, their golden final salary pensions and their free bus passes.
Author: hounslowpropertyblog
……There is no denying the simple fact that over the next 10 to 15 years, the people who choose to rent instead of buy in Hounslow will continue to rise……
Well the fallout from the recent Budget is still continuing. I was chatting to a couple of movers and shakers from the Hounslow area the other day, when one said, “There isn’t enough land to build all these 300,000 houses Philip Hammond wants to build each year”.
Now we have had the autumn budget, Theresa May and Philip Hammond have set out their stall with housing as their key focus. I was glad to see the Government introducing a variety of changes to improve housing, including more funding for the supply side and an injection of urgency into the planning system.
It’s now been a good 18/24 months since annual rental price inflation in Hounslow peaked at 4.3%. Since then we have seen increasingly more humble rent increases. In fact, in certain parts of the Hounslow rental market over the autumn, the rental market saw some slight falls in rents. So, could this be the earliest indication that the trend of high rent increases seen over the last few years, may now be starting to buck that trend?
n the TW3 and 4 postcodes there are 5,850 homeowners with a mortgage, of which 2,513 have a variable rate mortgage (the remaining have fixed rate mortgages). The total amount owed by those TW3 and 4 homeowners with those variable rate mortgages is £488,350,403, meaning the average monthly mortgage payment for those home owners on variable rate mortgages before the interest rate rise was £1,515.13 per month and now its £1,555.62 per month … meaning…
To calculate what I consider is a fair and proper House Price Index for Hounslow,
I initially needed to decide on a starting place for the index. I have chosen 2008….
For the last 10 years, every private rental property must have an Energy-Performance-Certificate (EPC) rating. The property is given an energy rating, very similar to those on washing machines and fridges with the rainbow coloured graph, of between A to G (A being the most efficient and G the worst). New legislation comes in to force next spring (2018)