Connect with us

Current

Average house prices exceed £500k in 15% of Britain

Voice Of EU

Published

on

The number of property hotspots around the country with homes costing more than half a million pounds has risen significantly during the pandemic.

Research from estate agents Savills found that the number is up 50 per cent, from 874 electoral wards in 2019 to 1,312 wards in 2021. The figures were based on sold prices from the Land Registry.

It means the total proportion of areas where the average house prices exceeds £500,000 has surpassed 15 per cent of Britain for the first time.

This four-bed house in Bathford, which is three miles east of Bath, is for sale for £1.5million via Savillls

This four-bed house in Bathford, which is three miles east of Bath, is for sale for £1.5million via Savillls

Savills has looked at the areas in Britain with properties costing at least £500,000

Savills has looked at the areas in Britain with properties costing at least £500,000

The South West saw the largest rise in half a million pound sales, up 167 per cent, reflecting a surge house prices in more rural areas.

The number of wards in the traditional lifestyle relocation and downsizer hotspots, such as the Cotswolds and Bath, increased from 17 to 29.

They include Stow and Northleach, as well as Combe Down and the Chew Valley West.

At the same time, areas such as the South Hams and Cornwall saw an increase from four to 11.

Lucian Cook, of Savills, said: ‘The momentum for moving throughout the pandemic – born from a desire for more space, and spurred on by the government’s stamp duty holiday – resulted in a mini-house price boom across the country.

‘But with stock in long-favoured hotspots across the country unable to meet increased demand, surrounding wards benefited, too.

‘As a result, we’ve seen a surge in new geographical areas breaking the half a million pound threshold over the past two years.’

The increase in suburban and semi-suburban locations breaching the £500,000 threshold is most notable in London, with seven wards tipping over the half a million pound threshold in Croydon, and a further eight in Waltham Forest.

Now, almost two-thirds – at 63 per cent – of all London areas are seeing an average house price of £500,000 or more.

And a quarter of the wards yet to hit the mark in the capital are within £50,000 of that benchmark.

This five-bedroom house in the Cornish village of Tintagel is for sale for £1,199,950 via Jackie Stanley estate agents

This five-bedroom house in the Cornish village of Tintagel is for sale for £1,199,950 via Jackie Stanley estate agents

While regions to the North still have the fewest number of half a million pound hotspots – the number in Yorkshire and the Humber has doubled in the past two years – from five to 10 (four located in Harrogate, and one in Ryedale).

Savills research also revealed the emergence of the first £500k wards in the North East, with three wards in Ponteland and the ward of Longhorsely joining the list.

Meanwhile, Scotland is yet to register its first £500,000 ward.

What does half a million pounds buy?

However, not all £500,000 homes are equal and vary in size significantly across the country.

The largest can be bought in the North East – at 2,017 sq ft on average -, versus just 869 in London.

Despite this, the amount of space half a million pounds can buy has shrunk just 2 per cent in the last five years in London, compared to a decrease of 13 per cent seen in South West, West Midlands and the North West.

At a local level, in Kensington and Chelsea, £500,000 buys 21 per cent more space than five years ago – albeit it still buys only 495 square feet – thanks to falling house prices experienced in prime central London in recent years.

Buyers in York and Rushcliffe (Notts) will have seen the opposite. In these two areas, the amount of square footage that can be bought for £500,000 has shrunk by 13 per cent to 1,432 sq. ft. and 1,550 sq. ft. respectively.

This two-bed end of terrace house in Stow on the Wold, Cheltenham, is for sale for £575,000 via Savills

This two-bed end of terrace house in Stow on the Wold, Cheltenham, is for sale for £575,000 via Savills 

Mr Cook added: ‘The recent increase in prices also means the range of options for those with smaller budgets is getting increasingly limited, with even half a million pounds buying you an increasingly shrinking amount of space.

‘That said the four successive rate rises and the rising cost of living are likely to bring more caution in the coming months, which will mean that the rate of price growth slows progressively, potentially to low single-digit figures in coming years – which will come as welcome relief to many who are looking to make their next move.’

The recent increase in prices means the range of options for those with smaller budgets is getting increasingly limited 

Rural and coastal areas have proved the most popular among house hunters during the pandemic.

Separate research by Rightmove found that some coastal hotspots had seen their asking prices rise by a quarter during the past year, with the Dorset hotspot of Canford Cliffs seeing asking values rise 24 per cent last month compared to a year ago.

Tim Bannister, of Rightmove, said: ‘Right at the start of the pandemic when the market re-opened, we saw a huge surge in demand for these coastal areas as people wanted a sea view or more space near the coast.

‘There have been large periods where demand has greatly outstripped supply over the last couple of years which has contributed to the significant rise in asking prices we’re seeing today.’

Source link

Current

Rishi Sunak’s swimming pool complex at his manor house is pictured as he tries to become the next PM

Voice Of EU

Published

on

Rishi Sunak‘s lavish private swimming pool complex at his North Yorkshire manor house has been pictured as he continues to battle Liz Truss to become the next Prime Minister.

The former Chancellor of the Exchequer, who like Ms Truss is facing questions over how they will deal with the ongoing cost-of-living crisis and spiralling energy prices, has spent £400,000 on the new pool.

He is also building a gym and tennis courts at the £2million Georgian manor near Northallerton, with reports from earlier this year estimating he would have to pay £13,000-a-year to keep the new pool warm. 

However, this figure may have risen dramatically over the last few months as energy prices have continued to surge, putting millions of people in the UK at risk of not being able to pay their bills.

Yesterday Mr Sunak, who has been criticised for building the pool while his local swimming baths in Richmond are forced to close due to rising energy bills, pledged to spend billions more to help people with the cost-of-living crisis.

The former investment banker, who made a fortune before becoming a politician, said there was a ‘moral responsibility’ to offer extra help, while also taking a swipe at Ms Truss’s plans to cut taxes.

He pledged to give more help to pensioners and those on benefits, while also vowing to cut VAT on energy bills – which he said could raise total support for families to around £700 to £800 – while energy bills look set to reach an eyewatering £4,400 after Christmas.

A gym, tennis court and swimming pool complex at Rishi Sunak's North Yorkshire manor house has taken shape after months of construction

A gym, tennis court and swimming pool complex at Rishi Sunak’s North Yorkshire manor house has taken shape after months of construction

The Tory leadership hopeful is thought to have spent in the region of £400,000 on the extension to his Georgian Grad2-II listed property

The Tory leadership hopeful is thought to have spent in the region of £400,000 on the extension to his Georgian Grad2-II listed property

It comes as Mr Sunak, pictured here in a visit to St John's Wood Synagogue yesterday, continues his quest to become the next Prime Minister

It comes as Mr Sunak, pictured here in a visit to St John’s Wood Synagogue yesterday, continues his quest to become the next Prime Minister

The swimming pool at his Grade-II listed manor house, where he typically spends his weekends with his wife and two daughters, has been under construction for several months.

The 42-year-old applied to the local council to build an L-shaped pool house, which will include a hot tub, utility and changing area and plant room, last year.

These plans, which included a 12-metre by five-metre swimming pool, were later approved by the council.

No tax payer money is thought to have been used in building the complex, and there were no objections from people living nearby. 

Reports it would cost £13,000-a-year to heat did not go down well among members of his constituency, especially after the sharp rise in energy bills.

The 42-year-old applied to build an L-shaped pool house, which will include a hot tub, utility and changing area and plant room, last year

The 42-year-old applied to build an L-shaped pool house, which will include a hot tub, utility and changing area and plant room, last year

It will include a tennis court (which can be seen in the bottom half of this picture), as well as an indoor private swimming pool

It will include a tennis court (which can be seen in the bottom half of this picture), as well as an indoor private swimming pool

No tax payer money is thought to have been used in building the complex, and there were no objections from people living nearby before it was approved by the local council last year

No tax payer money is thought to have been used in building the complex, and there were no objections from people living nearby before it was approved by the local council last year

Retired steel worker Leslie Porter, 69, told the Mirror: ‘Some people are having to choose between heating and eating. Bills are all rising and he does this. It’s obscene.’

Receptionist Hayley Hadden added: ‘He is a millionaire many times over and it looks like he is rubbing our noses in it. He doesn’t have to worry about paying his bills.’

It is one of a number of properties owned by Mr Sunak and his wife Akshata Murthy, who is the daughter of one of the richest men in India.

While he was chancellor the family lived in a flat above No 10 Downing Street, but earlier this year they moved to their £6.6 million mews house in Kensington.

The L-shaped pool house, which is under construction after permission was given last year, is set to inlcude a hot tub, utility and changing area, and a plant room

The L-shaped pool house, which is under construction after permission was given last year, is set to inlcude a hot tub, utility and changing area, and a plant room

Reports it will cost £13,000-a-year to heat did not go down well among members of his constituency, especially after the sharp rise in energy bills

Reports it will cost £13,000-a-year to heat did not go down well among members of his constituency, especially after the sharp rise in energy bills

Work has  started on construction of the swimming pool, gym and tennis court at the Sunak's North Yorkshire manor earlier this year

Work has  started on construction of the swimming pool, gym and tennis court at the Sunak’s North Yorkshire manor earlier this year

They also own a £5.5 million home in Santa Monica in California, where Mr Sunak has been tipped to live if he decides to quit politics in the UK.

Mr Sunak, who worked as an investment banker for firms California, India and Britain, including Goldman Sachs, is known to use the Yorkshire property when Parliament is not in session and he doesn’t need to be in London.

As his battle to become the next Prime Minister with Ms Truss heats up, this week the pair exchanged a series of barbs over their approach to the cost-of-living crisis.

The ex-chancellor has been accused by his rival’s camp of ‘Gordon Brown-style politics’ with a ‘socialist tax and spend’ agenda.

In a swipe back at the Foreign Secretary tonight, Mr Sunak suggested Ms Truss’s tax-cutting proposals were not ‘the moral thing to do’.

Rishi Sunak pledged to give more help to pensioners and those on benefits, while also vowing to cut VAT on energy bills to help with the cost-of-living crisis

Rishi Sunak pledged to give more help to pensioners and those on benefits, while also vowing to cut VAT on energy bills to help with the cost-of-living crisis

He also insisted that ‘starry-eyed boosterism’ would not steer the country through the inflation crisis.

In another jibe at Ms Truss, Mr Sunak claimed he would ‘rather lose’ the contest to become PM than promise ‘false things I can’t deliver’.

Both he and Ms Truss have faced calls to pledge further support during the cost-of-living crisis after energy bills for typical households were this week forecast to soar to more than £4,200 next year.

‘I do feel a moral responsibility as prime minister to go further and get extra help to people over the autumn and the winter to help them cope with what is going to be a really difficult time,’ Mr Sunak said.

‘I think that is the right priority.’

Mr Sunak suggested his rival Liz Truss's tax-cutting proposals were not 'the moral thing to do' as he took a series of swipes at the Foreign Secretary

Mr Sunak suggested his rival Liz Truss’s tax-cutting proposals were not ‘the moral thing to do’ as he took a series of swipes at the Foreign Secretary

The Foreign Secretary has faced pressure to match Mr Sunak’s promise of more direct support for families, after she previously steered away from pledging extra ‘handouts’ to ease the cost-of-living crisis.

Mr Sunak’s camp have accused Ms Truss of a ‘major U-turn’ after she today insisted she was not ruling out further cash payments.

But the Foreign Secretary has maintained that tax cuts – and boosting the economy – are her ‘priority’.

Ms Truss’s promise to cancel the National Insurance rise, scrap a planned increase in corporation tax, and remove green levies on energy bills appears to be proving popular with Tory members.

Mr Sunak has warned that Ms Truss’s tax-cutting plans will worsen the inflation crisis and cause interest rates to rocket.

He insisted he was ‘prepared to lose this contest’ rather than ‘saying the easy things’ and not staying ‘true to my values’.

Source link

Continue Reading

Current

Window shopping: Stained glass or acoustic? Solid wood or plastic?

Voice Of EU

Published

on

Your front door isn’t there to keep people out, it’s there to welcome them in.

Along with the windows — those peep-holes into your life — the style and colour tell friends and strangers alike who you are and what they can expect when they set foot inside your home.

‘Windows can make or break a space,’ says luxury interior designer Katharine Pooley. ‘They often don’t quite receive the attention they should, which is a shame as with the right ironmongery and a beautiful finish they instantly upgrade the overall aesthetic.’

Inviting: Stained glass windows add colour and personality to a home and tell friends and strangers alike what they can expect when they set foot inside

Inviting: Stained glass windows add colour and personality to a home and tell friends and strangers alike what they can expect when they set foot inside

And yet we spend twice as long selecting a kitchen worktop than we do choosing windows for our house.

So what options do you have to make them pretty as well as practical?

Plastic fantastic?

First off, don’t go for those horrid brilliant white, smooth plastic frames for windows. They often look ugly.

If you have to get uPVC because you’re on a tight budget, then at least get them in off-white with a woodgrain effect — some brands are pretty convincing nowadays.

KJM does a good line — for a double-glazed casement in woodgrain-effect measuring 1,200mm x 630mm, the price is about £275 supply-only.

Heavy metal

The sleek, hip-kid-on-the-block, aluminium-framed windows look up-to-the minute.

And because metal is stronger than wood or uPVC, the frame will be much slimmer, so there’s a larger area for glass.

We’re used to a cool grey colour, but you can have the frames made in any hue you like. So you can have them in forest green, midnight blue or flame red.

The same windows as above in aluminium would be £515.

Colours: You can have window frames made in any shade you like, though grey is popular

Colours: You can have window frames made in any shade you like, though grey is popular

Picture windows

Oh, the fun you can have with stained glass. Coloured designs are usually banished to little fan-lights at the top of doors in late Victorian houses.

But why not have coloured or picture panels in your front windows. You can have a nautical theme if you live by the sea; or an abstract whirl of shapes and colours.

A window with a bespoke design from Cheam Leaded Lights of about 1,200mm x 630mm will cost in the region of £2,500 to £3,000 supply-only.

Modernist style

Crittall windows or doors feature a sharp Art Deco design with slim black steel frames divided into squares. 

They have had a style renaissance over the past few years, somehow looking both up-to-date and classic at the same time.

While the Crittall company still manufactures the official items, you can get them in the same style from a host of other firms.

Crittall’s windows range from £500 to £850 per square metre, including installation.

Upgrade your glass

You can get all sorts of special glass these days. If you live by a busy road, acoustic glass will do better for you than standard double glazing.

Double glazing has two panes of glass with a void between them, whereas acoustic glass has two panes sandwiched together with a thin plastic layer in the middle to filter out more sound waves. 

Polarised glass keeps out the sun’s rays on hot days. And reflective glass turns windows into a one-way mirror so you can look out but passers-by can’t look in. 

Roseview’s Ultimate Rose windows are made from uPVC, but almost indistinguishable from wood.

A 1,200mm x 630mm acoustic glass window costs about £900 supply-only.

Choose wisely: The right windows can make or break a space, according to interiors experts

Choose wisely: The right windows can make or break a space, according to interiors experts

Solid wood

Wooden windows are becoming harder to find as vinyl and fibreglass take over, but they’re durable and can be a charming addition to a home.

Wooden Windows make bespoke timber windows and doors. It’s worth matching the two; after all, there’s nothing quite like the feel of a solid wood front door thudding into place.

It says that your castle is now secure against all onslaught. They do take some maintaining, though — you will have to repaint every four or five years, and there’s the chance of warping, which could make it more difficult to close or lock.

Old English Doors do a good line in hand-made Georgian-style, six-panelled solid oak doors from £4,320 supply-only.

Savings of the week! Rugs 

Temperatures may still be soaring. But the predicted higher fuel bills in the autumn means finding ways to make your home more cosy should start now.

A rug pulls all the elements in a room together. It also provides a layer of insulation, trapping cold air underneath.

Faded: La Redoute’s version in red and blue, pictured, is reduced by 25%, from £59 to £230 (laredoute.co.uk)

Faded: La Redoute’s version in red and blue, pictured, is reduced by 25%, from £59 to £230 (laredoute.co.uk)

Some heartwarming bargains of as much as 50 per cent off are available which, with care, should keep you snug for years. 

The abstract pattern Kista from West Elm in pale grey, blue and yellow would suit a stripped-down decor. It now costs from £112.95 to £519.95 (depending on size) down from £449 to £1,039 (westelm.com). 

The Pollo from The Rug Shop UK is in the same style. It costs from £71 to £224, reduced from £79 to £249 (therug shopuk.co.uk). At Loaf, the Tufty in cream and white is down 50 per cent from £345 to £175 (loaf.com).

The Habitat Byron in dark and pale grey, orange and teal would add zing to neutral interiors; it’s down by one-third to £119.99 (argos.co.uk).

Faded antique-style rugs continue to be fashionable. La Redoute’s version in red and blue, pictured, is reduced by 25 per cent; from £59 to £230 (laredoute.co.uk).

Anne Ashworth

 

Source link

Continue Reading

Current

Liverpool ONE welcomes Tessuti (GB)

Voice Of EU

Published

on

Grosvenor has announced that designer retailer, Tessuti, has opened its new global flagship store at Liverpool ONE, demonstrating the brand’s ongoing vote of confidence in the destination. The new location on Paradise Street follows Tessuti’s consistently strong performance at Liverpool ONE and spans two floors measuring 22,000ft². Boasting Tessuti’s biggest store to date, this is four times the size of the previous Liverpool ONE site. The store interiors have been styled with a subtle nod to classic Italian architecture whilst incorporating state-of-the-art technical features, combining classic design with an industrial-chic colour palette and cutting-edge digital screens. Working with local Liverpudlian digital and production agency Liquid, the new Tessuti store has exclusive instore stills and videos showcasing exciting campaigns; the first of which is rumoured to feature Liverpool stars Stephen Graham, Abbey Clancy, Miles Kane and Chelcee Grimes.

 

Aligning with Liverpool ONE’s community ethos, Tessuti’s new global flagship will also support the vibrant community in the heart of Liverpool, championing local businesses through collaborations, pop-ups, and in-store events.

 

Alison Clegg, Managing Director, Asset Management, Grosvenor, commented: “Tessuti’s commitment to Liverpool ONE, through its relocation within the destination and decision to make the new store its global flagship, strengthens our position as one of Europe’s leading retail and leisure destinations. The impressive growth trajectory of Tessuti within Liverpool is a great indication of the potential for success and expansion of other brands that join Liverpool ONE.”

 

Chris Rowan, Director of Brand & Customer Connection at Tessuti, added: “The opening of our global flagship at Liverpool ONE is a huge moment for us. Liverpool is an urban hub for international fashion retailers, so upsizing and relocating within the city’s leading retail and leisure destination was a natural next step. We feel confident that it is the ideal home for our flagship location, and are excited to offer Liverpool ONE’s visitors our most stylish project yet.”

Source link

Continue Reading

Trending

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates 
directly on your inbox.

You have Successfully Subscribed!