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)
In the credit crunch of 2008/9 the rate of home moving plunged to its lowest level ever. In […]
As I mentioned in a previous article, the average house price in Hounslow is 10.9 times the average annual Hounslow salary. This is higher than the last peak of 2008, when the ratio was 8.92. A number of City commentators anticipated that in the ambiguity that trailed the Brexit vote, UK (and hence Hounslow) property prices might drop like a stone…
I recently read a report by the Yorkshire Building Society that 54% of the country has seen wages (salaries) rise faster than property prices in the last 10 years. The report said that in the Midlands and North, salaries had outperformed property prices since 2007, whilst in other parts of the UK, especially in the South, the opposite has happened and property prices have outperformed salaries quite noticeably.
As regular readers of my blog know, I always like to find out what has actually happened locally in Hounslow.