Over the last 12 months, the UK has decided to leave the EU, have a General Election with a result that didn’t go to plan for Mrs May and to add insult to injury, our American cousins elected Donald Trump as the 45th President of the United States. It could be said this should have caused some unnecessary unpredictability into the UK property market.
The most recent set of data from the Land Registry has stated that property values in Hounslow and the surrounding area were 3.76% higher than 12 months ago and 21.58% higher than January 2015. […]
As the dust starts to settle on the various unread General Election party manifestos, with their ‘bran-bucket’ made up numbers, life goes back to normal as political rhetoric on social media is replaced with pictures […]
According to my research, of the 95,040 properties in Hounslow, 34,915 of those properties have mortgages on them. 79.0% of those mortgaged properties are made up of owner-occupiers and the rest are buy to let […]
Well last week’s article “The Unfairness of the Hounslow Baby Boomer’s £3,137,470,000 windfall?” caused a stir. In it we looked at a young family member of mine who was arguing the case that Millennials (those born after 1985) were suffering on the back of the older generation in Hounslow. They claimed the older generation had seen the benefit of the cumulative value of Hounslow properties significantly increasing over the last 25/30 years (which I calculated at £3.14bn since 1990). In addition many of the older generation (the baby boomers) had fantastic pensions, which meant the younger generation were priced out of the Hounslow housing market.
When I go on a valuation in and around Hounslow, either before or after me are all the other local agents eager to give a figure to entice the seller to choose them.
We are 12 years in estate agency so far, after hearing all the negative comments about estate agency it shocks me that sellers who know that agents tend to inflate the price to to come across they have their best intentions etc.etc…. still today fall for the same old bull.
Recently I was having a chat with one of my uncles at a big family get-together. The last time I had seen him and his children were when his children were in their early teens (just like I was). Now their children are all grown up, have partners, dogs and children (Just like me – but I dont have a Dog yet). Wow – how time flies!
So, I got talking over a glass of lemonade with my uncle and a couple of his grown up kids about the property market etc….also about the times of 15% interest rates and how the more mature members of our family had to endure the 3 day week, 20% inflation and the threat of nuclear annihilation in 4 minutes ..
so, foolishly, I said…..
I received a very interesting call the other day from a Hounslow resident. He declared he was a Hounslow homeowner, retired and mortgage free.
He stated how unaffordable Hounslow’s rising property prices were and that he worried how the younger generation of Hounslow could ever afford to buy? He went on to ask if it was right for landlords to make money on the inability of others to buy property and if, by buying a buy to let property, Hounslow landlords are denying the younger generation the ability to in fact buy their own home.