Connect with us

Current

Busiest property markets of 2020 revealed: Cambridgeshire town tops table as buyers

Voice Of EU

Published

on

The busiest property markets of 2020 revealed: Cambridgeshire town takes top spot as buyers shun cities for quieter areas

  • Small towns saw most property purchases relative to their population in 2020 
  • Huntingdon, Pontefract and Great Yarmouth topped the list compiled by Haysto
  • Buyers moved further from cities and sought green space due to the pandemic
  • Cities such as Birmingham and Brighton saw comparatively fewer purchases

The busiest property markets of 2020 have been revealed, with small towns taking the top spots as buyers flooded out of cities during the pandemic.

Huntingdon, Cambridgeshire, had the highest rate of property purchases in England and Wales, followed by Pontefract, West Yorkshire and Great Yarmouth, Norfolk.

Specialist mortgage platform Haysto analysed Government data to work out the figures, which are based on the number of house purchases per 10,000 people in the area’s population. 

Huntingdon in Cambridgeshire was found to be one of the busiest property markets in 2020

Huntingdon in Cambridgeshire was found to be one of the busiest property markets in 2020

Huntingdon, which has a population of around 26,000 people, saw more than than 400 house purchases per 10,000, while Pontefract saw 328 and Great Yarmouth, 320.

Known for being the birthplace of Oliver Cromwell, Huntingdon is a commuter town with a direct train link to London. It also tends to offers better value than other areas near Cambridge.

According to Rightmove data, house prices are on average £10,000 cheaper than the regional average in Cambridgeshire.

Pontefract might also have benefited from bargain-seeking house buyers. 

Sold prices in the town, which has a population of just over 31,000, were down three per cent year-on-year in 2020 according to Rightmove. 

Hot markets: Huntingdon, Pontefract and Great Yarmouth topped Haysto's list of the locations which saw most property purchases per head of their population last year

Hot markets: Huntingdon, Pontefract and Great Yarmouth topped Haysto’s list of the locations which saw most property purchases per head of their population last year

Cooling off: Cities such as Portsmouth, Birmingham and Brighton saw less demand for homes, recording fewer purchases relative to the number of people who live in them

Cooling off: Cities such as Portsmouth, Birmingham and Brighton saw less demand for homes, recording fewer purchases relative to the number of people who live in them

This was at a time when house prices have risen by an average of £17,000 across the UK.

Preston is the only city in the top ten of the high purchase rate list, and has a relatively small metropolitan population of less than 99,800.

Other than Doncaster, each of the locations in the top ten has less than 100,000 inhabitants.  

Haysto’s research also identified the locations that had the fewest property purchases relative to the size of the population, or the least busy housing markets. 

Norfolk's Great Yarmouth, which was the third-busiest property market according to Haysto

Norfolk’s Great Yarmouth, which was the third-busiest property market according to Haysto

Portsmouth had the fewest with 51 per 10,000 people, as despite having a population of nearly a quarter of a million, there were only 1,267 properties sold over the course of the year.

Wirral (56), Luton (72), Watford (74) and Birmingham (75) completed the bottom five locations with the lowest number of property purchases per 10,000 people in 2020. 

This also reflected the trend towards smaller settlements among buyers. 

All of the 20 towns and cities with the lowest property purchase rates had a population of at least 100,000, while five were home to more than a quarter of a million. 

Buyers have moved further away from cities in the past year, as many worked from home and felt that they would necessarily not return to a daily commute after the pandemic. 

Other attributes such as larger floor plates and gardens, which are harder to find and less affordable in urban areas, also climbed higher up buyers’ wish lists.  

Commenting on the research, Paul Coss, co-founder and specialist mortgage broker at Haysto said: ‘The impact of Covid-19 changed the property market in 2020 nationwide. 

‘I believe when we come out of lockdown and the economy starts to bounce back, this could be a good year to move or get on the property ladder.’

Advertisement

Source link

Current

Hotel Indigo debuts in Austria

Voice Of EU

Published

on

Hotel Indigo opened its first hotel in Austria, Hotel Indigo Vienna – Naschmarkt. Located a short walk from the city’s historic center, the hotel offers 158 guest rooms, a rooftop garden resembling an urban jungle, a restaurant, and a lobby bar.

 

Taking inspiration from a famed local architect, Otto Wagner, a key member of the Secessionist movement, guests will find touches of gold used throughout the fixtures in the bathrooms as well as intricate patterns, made famous by Otto, woven into the carpet design in the hallway, and the tiles behind reception. Otto’s love for gold, Art Nouveau design, and ornate patterns can also be seen at famous local buildings such as the Majolikahaus, a short walk from the hotel. From ground level, the building looks innocuous, but as guests look skywards, they will see the top floors are decorated with exquisitely sumptuous floral motifs in brightly colored porcelain and gold leaf, a hallmark of the new style.

 

Stefanie Augustin, General Manager, Hotel Indigo Vienna – Naschmarkt, commented: “We are pleased to open our doors and accept our first guests into the first Hotel Indigo in Austria. We sit in the heart of the surrounding neighbourhood and strive to make all the locals proud, by helping to bring a bit of that external story in so guests can truly experience what Vienna has to offer.”

 

 

 

Source link

Continue Reading

Current

Tolent secures Newcastle resi project (GB)

Voice Of EU

Published

on

Tolent will put up 135 ‘ultra-modern’ system-build homes, with designs selected from an architectural competition. Sunderland’s new Vaux neighborhood, being built on the site of an old brewery, will eventually have 1,000 homes, according to the plans, as part of a drive to double the number of people living in the city centre. The homes will stand alongside The Beam and City Hall – the latest development to rise from the ground at Riverside Sunderland. Construction work on the scheme is expected to start within weeks, forming the first of the new distinct neighbourhoods that will create city centre housing for up to 2,500 residents.

 

The properties are based on the winning designs in the Homes of 2030 competition, which was launched in March 2020, and managed by the Royal Institute of British Architects, to encourage the design of environmentally-friendly homes that support people in leading independent, fulfilling lives as society ages.? Construction work on the development is due to start this summer and the first tranche of homes should be completed by the end of 2023.

 

Sunderland City Council leader Graeme Miller said: “We’re absolutely thrilled to have taken this final step to get work started on our flagship residential scheme at Riverside Sunderland. The housing developments on Riverside Sunderland will be world-class, and Tolent is an ideal partner to deliver them, based locally and capable of building these aspirational homes.”

 

Tolent chief executive Paul Webster said: “Vaux neighbourhood is an amazing project that showcases the strides being taken in Sunderland to modernise the city centre. The world-class houses being built will provide a community fit for the future and an archetype for sustainable housing. As a truly local business, we are proud to be involved in the project and to showcase our ability to meet and exceed the capabilities of national contractors on a local level. The project will complement a number of local landmarks that we have constructed including The Beam, Beacon of Light and Echo Building. We have been working closely with the entire team since being appointed preferred bidder back in September and we can’t wait to get started.”

Source link

Continue Reading

Current

BlackRock acquires Dagenham urban logistics development (GB)

Voice Of EU

Published

on

A joint venture (JV) between Chancerygatea fund managed by Credit Suisse Asset Management, and Hines has forward sold a 172,000ft² urban logistics development in Dagenham to a fund managed by BlackRock for an undisclosed sum. Dagenham Council has approved plans to speculatively build 15 Grade A urban logistics and industrial units at the development which is called Zephyr Park. The units range from 5,490ft² to 34,670ft² and are available leasehold and freehold. Construction is due to commence in August this year. The six-acre site was previously owned by wholesale electrical distributor Rexel UKSituated on Rainham Road between the A12 and A13, Zephyr Park is located less than half a mile from Hackman Capital Partners and Dagenham Council’s proposed €348.5m (£300m) film and TV studios.

 

Chancerygate managing director, Richard Bains, said: “Zephyr Park will be an outstanding urban logistics development which will generate continued investment and job creation for Dagenham. Forward selling Zephyr Park to BlackRock shows the strength in urban logistics as an asset class. It is also a testament to the high specification, a sustainable product we build as it attracts businesses to locate to our developments ensuring they are best placed to continue to grow. We look forward to working with Hines and BlackRock to deliver Zephyr Park and expect to achieve practical completion in summer 2023.”

 

Greg Cooper, Hines managing director, industrial and logistics, added: “We are pleased to have executed this opportunity to recycle this asset, with the value generated illustrating the unabating demand for high-quality logistics developments. It is an asset class which remains a key focus for Hines in the UK, and we are continuing to explore opportunities to grow our portfolio of both big box and urban facilities.”

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!