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Trusty terraces: Our love of these neighbourly homes is deepening

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Terrace houses can be grand mansions or two-up two-down properties without pretensions. 

Yet, somehow these homes convey the same sense of solidity, whether they are in Belgravia, Bognor, by the sea, in a village, or in a market town.

These qualities are among the reasons for the deepening love affair with terrace houses in which one quarter of the population already lives, with more aspiring to join them.

Vibrant: A colourful row of terrace homes in London. The price of the average terrace has leapt by 8.2 per cent over the past year to £203,170

Vibrant: A colourful row of terrace homes in London. The price of the average terrace has leapt by 8.2 per cent over the past year to £203,170

The price of the average terrace has leapt by 8.2 per cent over the past year to £203,170, thanks to the race for space and gardens that began in lockdown. 

But now it seems likely to become a permanent housing market trend. At a time when we have come to appreciate community, the terrace house embodies the neighbourly spirit, even if the thinness of the walls can mean that we know a little too much about the people living next door.

‘The pandemic altered the property landscape and the drumbeat of change is continuing, with buyers making decisions about how they want to live for the next five or ten years,’ says Gráinne Gilmore, head of research at the property portal Zoopla.

In fact, its latest figures show that houses are selling three times faster than flats, with buyers most eager to acquire properties with three bedrooms. 

The extension of the stamp duty holiday until the end of June has put such a home within the reach of a few more buyers.

It means the tax bill on a £600,000 three-bedroom Victorian terrace house is reduced from £20,000 to a less painful £5,000.

Once the tax break is withdrawn, the threshold or nil-rate band — the point at which stamp duty becomes payable — will be set at £250,000 until the end of September, meaning that there will be no tax on many terrace homes. Thereafter, the threshold returns to its usual level of £125,000.

What’s more, the Government’s new mortgage guarantee scheme launched this month, under which 95 per cent loans are available, may help more people attain the terrace dream.

Yorkshire Building Society is already offering 95 per cent loans outside the scheme to first-time buyers.

Aneisha Beveridge, head of research at Hamptons, the estate agency, points out that another reason for the passion for the terrace house is its affordability: ‘A terrace property costs 18 per cent, or £43,000 less than the average home in Britain — last year, close to a third of the homes that were sold in England and Wales were terraces, with this figure rising to 37 per cent in the North East.’

Only in London does a terrace home cost more than the average property, particularly since the pandemic has added to the allure of townhouses that surround a garden square, or are close to the urban oasis of one of the Royal parks.

A six-bedroom terrace house in Montpelier Square, Knightsbridge, a stone’s throw from Hyde Park, is on sale for £10.95 million, for example (knightfrank.co.uk).

Dating to the 1670s, row upon row of classically-inspired terrace houses began to be built in London as the destruction wrought by the Fire of London produced a call for better housing.

The perception that terraces in any location can be a good buy explains their attraction to buy-to-let investors.

‘Terraces are popular with landlords because these properties offer some of the best rental yield returns in the Midlands and the North,’ says Beveridge. 

‘Terrace homes can be more cost-effective long-term too since most don’t come with service charges and ground rents which can eat into returns.’

Right now, the shortage of properties for sale is constraining the ability of all househunters to acquire the terrace house dream. 

But estate agents believe that the vaccine roll-out and the stamp duty deadline should make many sellers more confident about moving, boosting supply.

On the market… Community spirit

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Tungsten and BC Partners launch €296m industrial JV (GB)

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Tungsten Properties have signed a transformative €296m (£250m) JV funding agreement with BC Partners. The newly formed joint venture company will target single and multi-let industrial opportunities across the UK, which will range from last-mile to big box logistics warehouses with a GDV of greater than €29.6m (£25m). Tungsten Properties will act as asset and development manager for the joint venture. With a strong conviction in the underlying occupational fundamentals of the industrial warehousing sector, the joint venture has already identified a strong pipeline to initially seed the partnership.

 

Jeff Penman, managing director, Tungsten Properties said:“This is a significant step in Tungsten’s expansion strategy to continue to deliver industrial and warehouse space to create growth, jobs and investor returns. This transformational JV agreement with BC Partners will provide reliable capital to continue delivering strategically located, environmentally friendly buildings across the UK. While there is volatility in the capital markets, both Tungsten and BC Partners believe that the industrial market’s long-term fundamentals remain strong. With a fighting fund behind us, we look forward to securing further opportunities.”

 

Laurian Douin, partner, BC Partners said: “The UK industrial and warehouse sector has strong secular fundamentals. Given Tungsten’s strong track record and like-minded approach to development, we are thrilled to partner with them to jointly invest in this asset class. The joint venture intends to deliver well-located, exceptional schemes to meet occupier demand, with a particular focus on schemes’ environmental credentials in-line with BC Partners Real Estate’s commitment to ESG.”

 

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Four homes for sale with swimming pools: With price tags from £1.1m to £190k

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Owning a property with a swimming pool might seem like one of life’s luxuries that is reserved for millionaires.

But, as our pick of homes for sale with swimming pools proves, you don’t have to have a multi-million pound property to have one.

That said, you may still need deep pockets for their upkeep, which can be costly, particularly if you want to keep your swimming pool heated to a comfortable temperature.

While water shortages and hosepipe bans are hitting the headlines, a pool that is already filled with water will not draw on resources but may be forbidden from being topped up by hosepipe in the case of a ban.

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Our pick of four properties for sale with swimming pools are for various budgets, ranging from £1.1million to £190,000 (scroll down for more information about the house pictured)

Here, we take a look at four swimming pools at properties for those with a range of different budgets.

At the top end is a six-bedroom house in Ramsgate, Kent. with an acre of land that includes an outdoor swimming pool. It has a price tag of £1.1million.

At the other end is three-bedroom property in Ashington, Northumberland, with an empty indoor swimming pool and an asking price of only £190,000.

Daniel Copley, of Zoopla, said: ‘With Britain currently experiencing a heatwave, it’s no surprise that homes with swimming pools are proving to be increasingly popular.

‘Whether your budget is more in the deep or shallow end, some homes with pools may be more affordable than you think.

‘While the rise in energy bills will have a very real impact on those wanting to heat a pool, at this time of year a refreshing dip may be just what’s needed.’

Four properties with swimming pools… 

1. Six-bed house, Ramsgate, £1.1m

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent, which is being sold by Miles & Barr estate agents

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

The property is called Pond Cottage and it boasts a large outdoor swimming pool that has a curved slide at the side

Inside the property, the entertainment facilities continue - with a cinema room that has black chairs and a red carpet

Inside the property, the entertainment facilities continue – with a cinema room that has black chairs and a red carpet

The most expensive house in our list of properties with swimming pools is this £1.1million home in Ramsgate, Kent.

It boasts more than an acre of land that includes a large outdoor swimming pool, a patio and a pool area.

The property is called Pond Cottage and it is being sold by Miles & Barr estate agents.

2. Five-bed semi-detached house, Welling, £625k

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front aspect

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

A slimline swimming pool has been added to the rear of the house and it has been covered to protect it from the elements

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

The Kent property is on the market with a price tag of £625,000 and the sale is being handled by estate agents MS Estates

This semi-detached property in Welling, Kent, may not look like it can house a swimming pool from the front.

But a slimline swimming pool has been added to the rear of the house. It is on the market for £625,000 via MS Estates.

3. Five-bed house, Ripon, £450k

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

This three-bedroom house in Ripon, North Yorkshire, was once a barn and has been converted into a family home with a swimming pool

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The curved shaped indoor swimming pool sits below wooden beams and has a separate bar area for entertaining

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

The barn conversion has a colourful interior and is on the market for £450,000 via Solo Property Management estate agents

This three-bedroom barn conversion in Ripon, North Yorkshire, boasts an indoor swimming pool and bar area.

It is on the market with a price tag of £450,000 and the sale is being handled by Solo Property Management.

4. Three-bed house, Ashington, £190k

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools

The 1930s detached property has an indoor swimming pool that isn¿t currently being used because it has been left empty

The 1930s detached property has an indoor swimming pool that isn’t currently being used because it has been left empty

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

The three-bedroom property is currently for sale for £190,000 and is being sold via Rook Matthews Sayer estate agents

This three-bedroom house in Ashington, Northumberland, is the cheapest in our list of properties for sale with swimming pools.

It is a 1930s detached property with an indoor swimming pool that isn’t currently being used as it is empty.

The property is for sale for a relatively cheap £190,000 and is being sold via Rook Matthews Sayer estate agents.

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Barwood Homes invests in Woodville resi scheme (GB)

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Harworth Group plc has completed the sale of an eight-acre land parcel at Woodville, Derbyshire to Barwood Homes for the delivery of 73 new houses. This represents Harworth’s first transaction with the Northampton-based housebuilder. The land parcel forms part of a 53-acre regeneration site which is owned by Beepart Ltd, part of Dyson Group, the Sheffield-based former manufacturer of industrial materials. Harworth is promoting the site on its behalf through a Planning Promotion Agreement. In April 2022, South Derbyshire District Council granted outline consent for the creation of up to 300 homes on the site, in addition to a c.30,000ft² local center with convenience retail and leisure amenities and over 150,000ft² of employment space for a range of uses.

 

The wider site has been unlocked by the delivery of Derbyshire County Council’s Woodville to Swadlincote Regeneration Route, which opened to traffic in December 2021, providing better access to Swadlincote and traffic relief in Woodville, as well as improved connectivity across the site. Preparation works will commence shortly for the next phases of residential and employment land sales at the development.

 

Ed Catchpole, Regional Director for Yorkshire & Central at Harworth, commented: “This sale is a fantastic start to the development at Woodville and we are pleased to welcome Barwood Homes to the site, who will deliver high-quality new housing for the local community. Our focus is now on bringing forward the rest of the development, utilising our extensive experience in the remediation of complex sites, including earthworks and infrastructure, to ready the remaining residential and employment land.”

 

Luke Simmons, Managing Director of Barwood Homes, added: “We are delighted to be working alongside Harworth on this exciting development. The team is looking forward to engaging with the local community as we gear up to deliver a scheme of excellent quality in design, build and service.”

 

Gavin Rosson, Managing Director of Dyson Group, added: “This first sale of a residential portion of the site is an important step in unlocking the full development potential of the whole, something we have been trying to achieve for many years. Such development will help regenerate Woodville and the surrounding area, somewhere we have had a presence since 1967 and are delighted to participate in.”

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