As expected, plans to help the housing market and first-time buyers in particular, were included in Chancellor Philip Hammond’s Budget. What were these policies, and how could they affect the property market? We discuss the inaugural autumn budget in this blog.
Birmingham is a city and metropolitan borough in the West Midlands, England standing on the small River Rea. It is the largest and most populous British city outside London, with a population of 1,101,360 in 2014. Today Birmingham’s economy is dominated by the service sector, is a major international commercial centre.
While the world of first-time buyers is filled with swirling confusion and the creeping fear of adult responsibility, it absolutely needn’t be. In the second part of this step by step guide to the costs of buying property, we have removed one more obstacle between you and your future home. In two parts, we will help you to understand exactly what it is you’re paying for and how much it could cost.
Here at Love Your Postcode, we pride ourselves on our expert knowledge of any property with a B postcode. We have broken down the selling experience in Birmingham into 11 easy steps; ensuring you the best local advice you will find on the internet. In this article we will cover the second 6 steps. With property advice from our own founder, Bobby Singh, you can’t go far wrong with this article.
While the world of first-time buyers is filled with swirling confusion and the creeping fear of adult responsibility, it absolutely needn’t be. In the interest of providing the best service to our customers, Love Your Postcode have made it even easier for you to understand the minefield of fees created by buying property. By creating this step by step guide to the costs of buying property, we have removed one more obstacle between you and your future. In two parts, we will help you to understand exactly what it is you’re paying for and how much it could cost.
The world is talking about the housing market in Birmingham. Having seen a surge in the amount of people moving from London to the Second City rather than stay in their extortionate homes, it is safe to say that we are seeing the biggest “Boom Time” in 10 to 15 years. Watch our own property guru talk on this topic on BBC Midlands News here.
The tightrope of being a Birmingham buy-to-let landlord is a balancing act many do well at. Talking to several Birmingham landlords, they are very conscious of their tenants’ capacity and ability to pay the rent and their own need to raise rents on their rental properties (as Government figure shows ‘real pay’ has dropped 1% in the last six months). Evidence does however suggest many landlords feel more assured than they were in the spring about pursuing higher rents on their Birmingham buy-to-let properties.
The most recent set of data from the Land Registry has stated that property values in Birmingham and the surrounding area were 6.12% higher than 12 months ago and 16.72% higher than January 2015.
Despite the uncertainty over Brexit as Birmingham (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Birmingham property market can also be seen from those two sides of the story.
Many first-time homebuyers throughout the UK may feel like the prospect of purchasing their own property is a lifetime away. After all, research has shown a quarter of British people over the age of 50 still have grown-up children living at home. In addition, the property markets in some areas of the country appear to be heavily against buyers.
Needless to say, buying a home virtually anywhere in the country can be a costly and time-consuming process, but we’ve come up with some golden nuggets of advice to help aspiring homeowners get to where they want to be.
There are 23.36 million properties in England and Wales with 64% being owner occupied and 36% being rented either from a private landlord, local authority or housing association.