Connect with us

Current

Market town premium: Homes are worth £36k more on average

Voice Of EU

Published

on

Homes in England’s market towns are now worth £36,000 more than other locations, with buyers typically forking out double for the privilege in the most sought-after spots. 

Market town properties are typically valued 13 per cent higher than homes in the rest of their county, according to research from Halifax – but in some areas the premium is much higher. 

House prices in the top ten most expensive market towns all average more than £500,000, with Beaconsfield in Buckinghamshire topping the table for the third year running. Its average house price is £1.3million. 

Huge premiums: Buyers in market towns such as Wetherby, Alresford, Henley on Thames and Beaconsfield pay hundreds of thousands more than the average in the rest of their counties

Huge premiums: Buyers in market towns such as Wetherby, Alresford, Henley on Thames and Beaconsfield pay hundreds of thousands more than the average in the rest of their counties

There, buyers pay a huge 155 per cent or £690,000 premium compared to other homes in Buckinghamshire.

Market towns are popular with buyers because of their period properties, rural lifestyle and sense of community. 

The top three most expensive market towns remain unchanged on 2019, with Henley on Thames, Oxfordshire, (£858,772) and Alresford, Hampshire (£703,371) taking the second and third spots respectively.

But it is buyers in Wetherby that will pay the second-biggest premium, shelling out on average 98 per cent or £196,000 more for their home than elsewhere in West Yorkshire. 

What makes a market town?  

Many people think that simply having a weekly market is enough for a settlement to be classed as a market town – but that is not the case.  

The term actually dates back to the Middle Ages, and was bestowed upon towns that were granted a royal charter giving them permission to hold markets. 

They were often at the centre of the local agricultural economy, with people travelling there to buy and sell livestock and other goods. 

Housing developed around the marketplaces over time, giving us the market towns that we know today.  

Those looking for a home in Keswick in Cumbria will also need to pay nearly double (95 per cent more) for the privilege, as will those wanting to buy in Bakewell in Derbyshire (94 per cent more).

Surging house prices over the last 10 years mean that the market town premium has remained relatively constant.

All of the top five market towns have seen their premium rise compared to 2019, as buyers have moved away from cities and sought more space.

The average premium paid for a market town home has increased by nearly £3,000 since 2019. 

Some locations have seen bigger jumps in the long term, however. 

In Alresford, the market town premium has risen 42 per cent, while in Keswick it has risen 25 per cent and in Stamford, Lincolnshire 24 per cent. 

Russell Galley, managing director, Halifax, said: ‘England’s beautiful historic market towns are enduringly popular, which can bring a heavy price tag for prospective buyers, as these areas see house prices 13 per cent above their county averages, equivalent to an additional £36,116. 

‘Market towns offer so much for house buyers, including rich history, period properties, green spaces, and tourism.’   

Market prices: These towns command the highest premiums compared to the local area

Market prices: These towns command the highest premiums compared to the local area

Southern bias: All of the most expensive market towns are in the South East

Southern bias: All of the most expensive market towns are in the South East

There are some market towns where buyers can bag a bargain, many near Durham

There are some market towns where buyers can bag a bargain, many near Durham 

Where can I get a market town bargain?

All of the top 10 most expensive market towns are in the South East or South West of England, according to Halifax. 

Altrincham in Greater Manchester had been on the list, but was replaced by Lewes in East Sussex in 2020.

Midhurst (West Sussex), Hertford (Hertfordshire), Fairford (Gloucestershire), and Hungerford (Berkshire) also fell from the most expensive list, being replaced by Moreton-in-Marsh (Gloucestershire), Ringwood (Hampshire), Tenterden (Kent), and Marlborough (Wiltshire). 

Although they are still more expensive than the local average, Northern market towns can be more affordable, with several coming in below the UK’s average house price. 

‘While they might still come at a premium, many market town homes are much more affordable – like Ferryhill and Crook in County Durham where average house prices are under £150,000,’ Galley said. 

The average house price in Ferryhill, England’s least expensive market town, was £86,351 in 2020: £1,047,942 less than the average in Beaconsfield. 

Of course, those wanting to get all the benefits of a market town without the price tag could always just move in nearby.  

Galley added: ‘Anyone looking to make the most of their budget could do well to consider looking at the towns and villages near to a historic market town, which can be close enough to take advantage of all the benefits associated with these areas, whilst perhaps avoiding the premium price tag.’

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.

Source link

Current

Zappone turns down invitation to appear before committee to discuss envoy role

Voice Of EU

Published

on

Former minister Katherine Zappone has turned down an invitation to appear before an Oireachtas committee to explain the circumstances surrounding her now-scrapped appointment as a special envoy.

The chair of the Oireachtas Committee on Foreign Affairs Charlie Flanagan confirmed on Monday that Ms Zappone had declined an invitation to attend to discuss the matter.

The committee, which met last Wednesday in private session, agreed to write to the former minister and invite her to appear before it.

It is understood the decision was taken at a private meeting after it was proposed by Sinn Féin spokesman on foreign affairs John Brady and his Social Democrats counterpart Gary Gannon.

The committee is also to invite Martin Fraser, the secretary general of the Department of the Taoiseach and the State’s highest-ranking civil servant, to address the issue of precisely when Ms Zappone’s name was communicated to the Department of the Taoiseach.

Controversy erupted over an attempt by Minister of Foreign Affairs Simon Coveney to appoint Ms Zappone as a special envoy for freedom of expression and LGBTQ+ rights.

Mr Coveney – who is attending UN meetings this week in New York – last week faced down a motion of no confidence as a result of his handling of the matter.

Earlier this month, Mr Coveney told the Oireachtas Committee Ms Zappone was mistaken in her belief she had been offered the job last March.

Mr Coveney also rejected claims that Ms Zappone lobbied for the position or that he breached Freedom of Information legislation by deleting texts between himself and Tánaiste Leo Varadkar.

However, Mr Coveney apologised for “sloppiness”, and for making mistakes in the past few weeks.

Records released by the Department of Foreign Affairs show Ms Zappone texted Mr Coveney to thank him on March 4th “so, so much for offering me this incredible opportunity”.

In mid-July she sent another message of thanks but Mr Coveney has insisted nothing had been formally agreed until it came to Cabinet on July 27th.

Source link

Continue Reading

Current

Lori Loughlin and fashion designer husband drop $13M on Palm Desert vacation home

Voice Of EU

Published

on

Former Full House actress, Lori Loughlin, and her husband, Mossimo Giannulli, have dropped $13million on a gated Palm Desert, California, oasis, following their release from prison for their involvement in the college-admissions scandal.  

Loughlin, who was released from prison in December, with her husband following in April, appear to be celebrating their newfound freedom with the purchase of their vacation getaway in the La Quinta community.

The five-bedroom, 5.5 bathroom home, situated in the guard-gated exclusive Madison Club, comes lavished with several amenities, including a wine cellar, movie theater, two pools, two spas, a wet bar and an outdoor projector-theater.  

Former Full House actress, Lori Loughlin, and her husband, Mossimo Giannulli, have dropped $13million on a gated Palm Desert, California, oasis, following their release from prison for their involvement in the college-admissions scandal.

Former Full House actress, Lori Loughlin, and her husband, Mossimo Giannulli, have dropped $13million on a gated Palm Desert, California, oasis, following their release from prison for their involvement in the college-admissions scandal.

The open dining and living room area is perfect for watching L.A sunsets

The open dining and living room area is perfect for watching L.A sunsets 

The home comes equipped with several outdoor fireplaces, perfect for entertaining guests on chilly evenings

The home comes equipped with several outdoor fireplaces, perfect for entertaining guests on chilly evenings 

Opulent swimming pools encompass the outdoor area, in addition to an outdoor projector for watching films

Opulent swimming pools encompass the outdoor area, in addition to an outdoor projector for watching films 

The home comes lavished with several amenities, including a wine cellar, movie theater, two pools, outdoor fireplaces, two spas, a wet bar and an outdoor projector-theater

The home comes lavished with several amenities, including a wine cellar, movie theater, two pools, outdoor fireplaces, two spas, a wet bar and an outdoor projector-theater 

Former 'Full House' actress, Lori Loughlin, (right) and her husband, Mossimo Giannulli, (left) have dropped $13 million on a gated Palm Desert, California, oasis

Former ‘Full House’ actress, Lori Loughlin, (right) and her husband, Mossimo Giannulli, (left) have dropped $13 million on a gated Palm Desert, California, oasis

Built in 2019, the home was formally owned by Assurance co-founder Michael Rowell and his wife, Alexis, who purchased it for only $9.5 million. 

A few of their neighbors include Kris Jenner, Kourtney Kardashian, Nike’s Phil Knight, Cindy Crawford and Scooter Braun. 

The purchase comes a year after Loughlin and Giannulli bought a $9.5 million modern farmhouse in the Hidden Hills area of Los Angeles.      

A federal judge in Boston recently granted Loughlin ‘expedited’ permission to travel to Canada to possibly rekindle her career. The request was necessary as she remains on probation.

The five-bedroom, 5.5 bathroom home is situated in the guard-gated exclusive Madison Club in the La Quinta community

The five-bedroom, 5.5 bathroom home is situated in the guard-gated exclusive Madison Club in the La Quinta community

Built in 2019, the home was formally owned by Assurance co-founder Michael Rowell and his wife, Alexis, who purchased it for only $9.5 million

Built in 2019, the home was formally owned by Assurance co-founder Michael Rowell and his wife, Alexis, who purchased it for only $9.5 million

An large dining area opens out onto the terrace, as an intricate chandelier hangs from the ceiling

An large dining area opens out onto the terrace, as an intricate chandelier hangs from the ceiling

Also featured in the amenities is a chic, oversized wine cellar

Also featured in the amenities is a chic, oversized wine cellar 

Loughlin was unable to travel due to her prison sentence and ensuing community service commitments stemming from her involvement in the ‘Operation Varsity Blues’ scheme, which involved wealthy parents paying large sums of money to get their kids into elite universities.    

‘Ms. Loughlin anticipates she will be traveling for about one week’ and is ‘being offered a filming production project’ if granted permission, her initial request sent by a probation official stated.   

It emerged in 2019 that Lori and Giannulli bribed their daughters Olivia and Isabella’s way into University Of Southern California.

Lori and her fashion designer husband paid $500,000 to falsely pass the girls off as potential college rowers on USC’s rowing team.

Although they initially claimed to be innocent, Mossimo pled guilty last May to conspiracy to commit wire and mail fraud and honest services and mail fraud, while Lori pled guilty to conspiracy to commit wire and mail fraud.  

Giannulli was sentenced to five months, while Loughlin served two months behind bars.

It emerged in 2019 that Lori and Giannulli bribed their daughters Olivia and Isabella's way into University Of Southern California

It emerged in 2019 that Lori and Giannulli bribed their daughters Olivia and Isabella’s way into University Of Southern California

Source link

Continue Reading

Current

Tenor fails to rent home as work in Covid-hit sector deemed precarious

Voice Of EU

Published

on

An Irish tenor, who has performed for presidents and emperors and been shortlisted for a Grammy award, is struggling to rent a home in Dublin because of a perception that working in the Covid-19-hit entertainment industry makes him a risk.

Paul Byrom said he was “knocked for six” last week after a potential landlord refused to even meet him on the grounds that the pandemic had made his profession singularly unsuitable for the rental market.

Byrom has earned his living as a musician for more than 20 years and has performed for Emperor Akihito of Japan, former Irish presidents Mary McAleese and Mary Robinson and former US president Barack Obama.

He was one of the original soloists in the Celtic Thunder show that toured the world and had number one albums on the World Billboard Chart. A solo album, This is the Moment, debuted at number one on the same chart and was shortlisted for a Grammy nomination.

Byrom has continued to work online during the pandemic and is looking forward to restarting his live career soon. “I am no Bono, but I am not starting out in the game,” he said.

However, none of his achievements appear to have been good enough for one Dublin landlord. Byrom said he and his girlfriend were keen to move to a bigger home and found a two-bedroom house in south county Dublin advertised at a rent of €2,000 a month.

‘Exemplary tenant’

It was being let by the estate agent which manages the property the couple currently live in and he was assured that, as an “exemplary tenant” for more than three years, his application would most likely be considered favourably.

“The estate agents said that while it was looking after the letting, it wouldn’t be the management company and the guy who owned it would be the point of contact,” Byrom said. “I was told that the landlord would want to meet me and I had no problem with any of that – I thought that made sense.”

He and his girlfriend assembled all the paperwork including her payslips and details of his earnings from his accountant. “I had moved in in my head but then I got a phone call saying the application had been rejected,” he said.

His mother joked that he had been turned down “because the landlord didn’t want you practising your Ave Maria’s at 10 in the morning.”

But that was not the reason. It emerged that the “landlord thought that because Covid had hit my industry hard he would be too nervous to take me on. He simply didn’t want anyone from the entertainment industry,” Byrom said.

Mortgage

He said struggling to rent or get a mortgage were not the only issues entertainers encounter.

“Try and look for car insurance as a singer and the companies don’t want to know. So I can’t drive a car or rent a home or even take advantage of the bike to work tax scheme because I am self employed.

“And this is a country that claims to be the land of the bards and the poets. The amount of roadblocks put in an entertainer’s way are just crazy, but then they will say get out there and sing Danny Boy and represent the country. You’d have to wonder if Ireland wants artists to be here at all.”


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!