Connect with us

Current

Most affordable places to buy a property in Britain 2021

Voice Of EU

Published

on


The most affordable towns and cities in Britain to buy a property have been revealed.

They are clustered around Scotland and the North West, with the quaint town of Shildon in County Durham topping the list by property website Zoopla.

Meanwhile, a separate list of towns which have seen the biggest increase in affordability in the last 12 months includes the picturesque town of Cleator Moor in Cumbria, Malvern, Worcestershire and Bideford, North Devon.

The most affordable places to buy a home in Britain, based on house price to earnings ratios, using two-earner households on average salaries for the local area

The most affordable places to buy a home in Britain, based on house price to earnings ratios, using two-earner households on average salaries for the local area

In the most affordable area: This two-bed terrace in Redworth Road, Shildon, is for sale for u00A355,000 via estate agents Luxe Homes

In the most affordable area: This two-bed terrace in Redworth Road, Shildon, is for sale for £55,000 via estate agents Luxe Homes

Zoopla based its calculations on house price to earnings ratios, using two-earner households on average salaries for the local area.

The average property price in Shildon is £59,468 and the price to earnings ratio is 1.1.

Ferryhill, also in County Durham, ranks in seventh place with a median house price of £72,264 and a price to earnings ratio of 1.35. 

Zoopla said its lower house prices and the dominance of terraced housing was driving affordability in the area.

THE MOST AFFORDABLE TOWNS AND CITIES IN BRITAIN TO BUY A PROPERTY
Rank Postal town Local Authority Region Gross annual household earnings Median house prices Price to earnings ratio Annual home mover mortgage repayment (£)* Mortgage payment as % of annual home movers household income*
1 Shildon Durham (County) North East £53,446 £59,468 1.11 £2,006 5%
2 Cleator Moor Copeland North West £82,924 £96,269 1.16 £3,247 5%
3 Kilbirnie North Ayrshire Scotland £62,338 £76,303 1.22 £2,573 6%
4 Cumnock East Ayrshire Scotland £61,859 £77,414 1.25 £2,611 6%
5 Egremont Copeland North West £82,924 £80,694 1.29 £3,601 6%
6 Stevenston North Ayrshire Scotland £62,338 £106,771 1.29 £2,721 6%
7 Ferryhill Durham (County) North East £53,446 £72,264 1.35 £2,437 6%
8 Ferndale Rhondda Cynon Taf Wales £55,297 £77,421 1.4 £2,611 6%
9 Irvine North Ayrshire Scotland £62,338 £87,478 1.4 £2,950 6%
10 Girvan South Ayrshire Scotland £63,102 £88,587 1.4 £2,988 6%
Source: Zoopla               

In Scotland, towns in historic Ayrshire dominate with Kilbirnie and Cumnock ranking in third and fourth place respectively, and Stevenston, Irvine and Girvan all featuring in the top 10. 

Zoopla said that Scotland’s affordability is linked to two key factors, which are strong earnings locally and more reasonably priced property, with average house prices in all of these towns below £65,000.

Buyers in Cleator Moor and Egremont in Cumbria also benefit from high levels of affordability, according to Zoopla.

This three-bed terrace house in Mill Street, Torrington, is for sale for u00A3180,000 via estate agentsu00A0Bond Oxborough Phillips

This three-bed terrace house in Mill Street, Torrington, is for sale for £180,000 via estate agents Bond Oxborough Phillips

Cleator Moor is located on the 190-mile Coast to Coast Walk that spans Northern England, while Egremont is at the edge of the Lake District National Park. Both areas have a lot to offer home hunters searching for a rural idyll, Zoopla said.

As well as featuring in the most affordable list, the property website said that affordability has also improved the most in Cleator Moor and Egremont.

This is also the case in Whitehaven – where the average house price is £122,685 and the price to earnings ratio is 1.48 – and Millom – where the average house price is £121,565 and the price to earnings ratio is 1.47 – in the North West.

Zoopla said earnings growth is underpinned by its robust manufacturing sector and the Sellafield nuclear power station, a major employer in the area.

This three-bed terrace in William Morris Avenue, Cleator Moor, is for sale for u00A379,950 via estate agents Tiffen & Co

This three-bed terrace in William Morris Avenue, Cleator Moor, is for sale for £79,950 via estate agents Tiffen & Co

This two-bed semi-detached house in Bartons Way, Birmingham, is for sale for u00A3170,000 via estate agents Shipways

This two-bed semi-detached house in Bartons Way, Birmingham, is for sale for £170,000 via estate agents Shipways

For those on the hunt for a property near an Area of Outstanding Beauty, but at a more affordable price, the spa town of Malvern, located at the foot of the spectacular Malvern Hills has also seen an increase in its affordability.

Average house prices in the town stand at £265,710, while the price to earnings ratio is 3.73, down from 4.14.

Commuter towns such as Hoddesdon in Hertfordshire, and the Scottish town of Beith have also seen improvements.

In Britain’s three largest cities, Barking & Dagenham is the most affordable area in London, Oldham is the most affordable in Manchester, and Lozells takes the crown in Birmingham.

Thsi three-bed terrace house in Lamont Crescent, East Ayrshire, Scotland KA18 Offers over u00A370,000

This three-bed terrace house in Lamont Crescent, Cumnock – East Ayrshire – is for sale for £70,000 via estate agents Slater Hogg & Howison

In Southern England, Hoddesdon in Hertfordshire has seen the biggest improvement in affordability with average house prices of £396,623 and a price to earnings ratio of 5.13.

With substantially lower house prices than London and direct trains to London Liverpool Street in just 40 minutes, Hoddesdon could be an attractive location for commuters looking to get more for their money, Zoopla suggested.

Nearby Waltham Cross has also seen improvements in affordability and is slightly more expensive with average house prices of £408,358 and a price to earnings ratio of 5.28, down from 5.70.

Areas in North Devon also feature strongly, with Bideford and Torrington both featuring in the top 10 list for improved affordability.

For those looking for a home near the coast, the historic harbour town of Bideford could be an attractive option with its independent shops and picturesque quay. The town has an average house price of £238,116 and price to earnings ratio of 3.86.

TOWNS WITH THE BIGGEST INCREASE IN AFFORDABILITY
Rank Postal town Local Authority Region Gross annual household earnings Median house prices Price to earnings ratio Change in house price to earnings ratio since 2019 Annual home mover mortgage repayment (£)* Mortgage payment as % of annual home movers household income*
1 Cleator Moor Copeland North West £82,924 £96,269 1.16 -12% £3,247 5%
2 Whitehaven Copeland North West £82,924 £122,685 1.48 -10% £4,138 7%
3 Malvern Malvern Hills West Midlands £71,193 £265,710 3.73 -10% £8,961 17%
4 Egremont Copeland North West £82,924 £106,771 1.29 -9% £3,601 6%
5 Beith North Ayrshire Scotland £62,338 £119,281 1.91 -9% £4,023 9%
6 Millom Copeland North West £82,924 £121,565 1.47 -8% £4,100 7%
7 Hoddesdon Broxbourne East of England £77,314 £396,623 5.13 -8% £13,376 23%
8 Bideford Torridge South West £61,734 £238,116 3.86 -8% £8,030 17%
9 Torrington Torridge South West £61,734 £222,837 3.61 -7% £7,515 16%
10 Waltham Cross Broxbourne East of England £77,314 £408,358 5.28 -7% £13,772 24%
Source: Zoopla                 

Although city locations are often associated with higher house prices, Britain’s largest cities all have areas with greater affordability.

In London, the house price to earnings ratio is most favourable in Barking and Dagenham at 5.4, in Bexley at 5.5 and in Tower Hamlets at 5.68.

In these boroughs, the average cost of a home is below 5.7 times the annual salary for a two-earner household’s average salary, making these boroughs among some of the most affordable in London.

In Greater Manchester, Coldhurst in Oldham is the most affordable, with average house prices of £104,416, and a price to earnings ratio of 2.01, while Lozells is the most affordable area in Birmingham. The average house price in the area is £141,431, while there’s a price to earnings ratio of 2.5.

Izabella Lubowiecka, of Zoopla, said: ‘The North West and Scotland dominate the most affordable areas list once again this year, with relatively modest pricing and stronger earnings in some areas making a home move more accessible for many. T

‘The data also shows that for homemovers on average salaries, mortgages are also more affordable, especially if homeowners have built up some equity in their current property.

‘These levels of affordability in some localities will be welcome news for homeowners looking to move into a larger home especially as the current lockdown restrictions start to ease.’



Source link

Current

Barings and HBD secure planning for London logistics scheme (GB)

Voice Of EU

Published

on

Barings and HBD have secured detailed planning for a strategic logistics scheme in Rainham, London, transforming a 20-acre brownfield site. The new development, Momentum London, is being delivered by Barings and HBD in a joint venture partnership. It will create 381,814ft² of new logistics and industrial space across four units ranging from 41,000 -171,000ft².

 

The scheme will target Net Zero Carbon, BREEAM “Excellent” and an EPC “A+” rating. This is being achieved by dynamic design, careful consideration of materials, zero use of fossil fuels, maximizing photovoltaic solar panels, battery storage and intelligent building systems. The units will be 100% EV ready, including passive fleet charging to the yards.

 

The logistics park will be set in landscaped environment with picnic and public areas, as well as direct access onto the Thames Cycle Path, so that it brings further social benefits to the area. Positioned on the River Thames, with potential for jetty access, Momentum will offer an easy stepping stone into Central London and out via the A13, just minutes away.

 

Darren Hutchinson, Head of UK Real Estate Transactions and Managing Director at Barings, said: Momentum London will be a strategically located logistics scheme with strong environmental and social credentials, beneficial both to future occupiers and the communities around it. Logistics is one of Barings’ preferred investment sectors and Momentum London exemplifies the kind of developments we’re seeking, with a keen interest in exploring joint ventures like this one with HBD.”

 

Simon Quine, Senior Development Surveyor at HBD, said: “Industrial and logistics space remains in very limited supply across London, particularly larger distribution units. Momentum will plug that gap within the M25 and provide modern, sustainable logistics and distribution space to serve London and the wider South East market. Landscaping and wellness have been thoroughly considered, with careful design considerations and enhancements to the Thames Foot and Cycle path, which we hope will help occupiers to attract and retain staff.”

Source link

Continue Reading

Current

Mirrored furniture trend can create the illusion of space in your home

Voice Of EU

Published

on

Mirrored furniture provokes strong emotions. Some see it as the epitome of bad taste, flashy and bling. Others know that mirrors have magic powers.

A mirrored table or cabinet makes a room or a hallway appear more swish and spacious. It’s a trick that bars and restaurants employ to ensure their establishments appear roomier and more inviting — and they can add lustre to your home, too.

Choosing a piece of mirrored furniture also sends out a sign that you are aware of one of the year’s trends — the return of Art Deco, the influential style that emerged in the 1920s. 

Reflections: A mirrored bedside table. The power of the mirror to create an impression has been recognised for centuries

Reflections: A mirrored bedside table. The power of the mirror to create an impression has been recognised for centuries

It blended forms that celebrated modern machinery with decorative elements drawn from Greco-Roman culture and nature. 

The mirror was a favourite material, used on the surfaces of furniture and walls to supply a shimmering silver and gold effect.

Probably the most famous piece of Art Deco architecture is New York’s Chrysler Building. Completed in 1930, its sunburst-patterned stainless steel spire remains one of the key elements of the Manhattan skyline.

Art Deco console tables, drinks trolleys and other items from the era of the building’s construction sell for thousands on auction sites such as 1stdibs underlining the growing appeal of this aesthetic. 

Jamie Watkins, the co-founder of fabric and wallpaper company Divine Savages, explains Art Deco’s allure for a new audience.

‘Art Deco, with its bold geometrical patterns was such an iconic period for design: it’s synonymous with glamour and luxury.’

The resurgent popularity of Art Deco is also based on its practicality: a mirrored piece works with almost any interior, adding interest and depth.

The power of the mirror to create a wow impression has been recognised for centuries. 

Examples of this technique include the round mirror on the wall behind the bride and groom in Jan van Eyck’s 1434 Arnolfini Portrait in the National Gallery. It sends out the message that the couple are discerning — and wealthy.

Cheers: B&M's £25 oval drinks trolley with two mirrored shelves

Cheers: B&M’s £25 oval drinks trolley with two mirrored shelves

The hall of mirrors in the palace of Versailles was designed to be a place of beauty, but also to display the financial resources of Louis XIV, the Sun King. Mirrors were a luxury item until an inexpensive manufacturing process was invented in the 1830s.

In 2022, it is possible to pick up mirrored pieces for under £100. B&M has a £25 oval drinks trolley with two mirrored shelves that would lend an air of Thirties elegance to any gathering. The £94.99 Ellison serving cart (a U.S. term for drinks trolley) from Wayfair has a similar vibe.

If you believe that the right mirrored trolley would save you money on trips to bars, the larger £144.95 gold oval mirrored trolley from Melody Maison could be the thing.

A mirrored cocktail cabinet will dazzle guests. The £1,200 Primrose & Plum champagne and gold cabinet has a Jazz-Age feel.

The £299 Venetian sideboard from Furniture Market, meanwhile, is a more modestly priced way to conjure up the party spirit of the Roaring Twenties.

The show flats of apartment blocks are often equipped with mirrored cocktail cabinets containing bottles of spirits and crystal glasses. This makes buyers dream of dinner parties, with a prelude of aperitifs, but also serves to make the apartment appear even roomier.

A console table in the hall also creates an illusion of space which can be amplified by the addition of a lamp. HomesDirect365 has a range in the style of almost every era including Art Deco, Regency, the 1960s and the 1970s. Prices start at £233.

The bedroom is often the most cramped room in either a house or flat which is why this can be the best place to experiment with mirrored furniture. 

The desire to preserve family harmony is another reason. The other members of your household may prefer the kitchen and living room to be slick and understated, seeing anything mirrored as excessive.

In the bedroom, however, you can indulge your decor fantasies. Habitat has the one-drawer Hepburn bedside table for £76.

Next offers the antique effect Fleur bedside table which costs £225 for the one-drawer version and £275 for the two-drawer version. 

The Fleur is also available as a six-drawer chest for £599 or a £1,150 double wardrobe if you seek to waft around your bedroom channelling your inner 1930s Hollywood screen siren. 

Dunelm’s Venetian mirrored dressing table also offers a chance to live out your dream of silver screen stardom (£449).

If mirrored furniture has brought out your party animal, kindling a passion for Art Deco in every guise, Divine Savages offers Deco Martini wallpaper whose design is based on the geometric forms, with a hidden Martini glass within the print (£150 per roll).

Some of your guests may not be too busy checking out their reflections on the doors of the mirrored cabinet to notice this subtle and witty detail in the wallpaper.

Savings of the week! water jugs… Up to 52% off 

The Sandvig hammered-glass jug from made.com is half-price at £22

The Sandvig hammered-glass jug from made.com is half-price at £22

Sitting outside on a sunny afternoon is already delightful. But it is even more enjoyable if you are sipping on a cool drink or an iced coffee from a generously sized jug, or maybe even a Pimm’s. The arrival of the July sales means bargains abound.

If you prioritise practicality, Ocado’s textured lustre plastic picnic jug has 33 per cent off at £8.

The price of the pleasingly geometric plastic smoky-grey Prism jug from Wayfair is 16 per cent off at £10.10. 

If you would like to feel as if you are in the south of France, John Lewis has the plain glass Arles wicker-wrapped jug. It is reduced from £25 to £12, down 52 per cent.

Wanting something more elegant that you can also use for flowers? The Sandvig hammered-glass jug from made.com is also half-price at £22.

Source link

Continue Reading

Current

VGP acquires French logistics development

Voice Of EU

Published

on

 

VGP NV and VALGO signed an agreement to purchase 32 hectares of land that housed the former Petroplus refining units in Petit-Couronne, near Rouen. This brownfield rehabilitation project is fully in line with VGP’s core expertise and strategy. Thanks to the six years ownership of the site by VALGO and its expertise in asbestos removal, soil and water table decontamination, in-situ waste treatment and development, this area has now become a suitable site for the development of new industries and business activities.

 

On the banks of the river Seine and close to the A13 highway, the 32-hectare area of land offers its future users a highly strategic location. Following the extensive depollution work carried out by VALGO, the site is now ready for redevelopment. VGP expanded into France only a few months ago and is delighted to start its French business activities in the dynamic Rouen Normandy metropolis area, via this major project. In total, around 150,000m² of land are set to be redeveloped to accommodate industrial and logistics projects, with work due to begin in 2023.

 

Jan Van Geet, CEO VGP, said: “VGP is delighted to begin its business activities in France on a site as exceptional as this one, with strong economic and environmental ambitions that are shared by both our partner, VALGO, and the local authorities. As the rehabilitation of brownfield sites is at the heart of our business, this project is a great opportunity for us to deploy our industrial and logistical know-how. The uncertain geopolitical situation and the rise in transport prices mean that companies are increasingly looking for local support to start their business. In this context, we strongly believe in the relevance of our integrated model with a long-term vision. We are now eager to get to work and bring all the expertise of the Group to the project.”

 

Francois Bouche, CEO VALGO, commented: “We are delighted that this huge piece of land has been sold to a major investor with experience in redeveloping brownfields in Europe. However, I would first like to celebrate the work of the men and women who worked so hard to make this colossal project a success. It took more than 1 million hours and over €60m in investment by VALGO to turn the page on over 80 years of refining on this site, which already employs 600 people.”

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!