Posts with tag: investment in property

How has Brexit impacted on market conditions?

Published On: July 13, 2016 at 11:41 am


Categories: Property News

Tags: ,,,

A new investigation has looked at the impact that the Brexit result has had on the number of property listings in major UK towns and cities.

Figures from the Property Supply Index, compiled by HouseSimple, suggests that 68% of locations saw listings slide in June. London saw a 13% drop.


In order to compile its Property Supply Index, HouseSimple looked at the number of new properties put onto the market every month, in over 100 major towns and cities. The analysis also looked at all London boroughs.

Results indicate that Lichfield and Winchester saw the largest drop in supply in June, with new property listings down by 37% and 36.5% respectively. Interestingly, four out of the top ten largest fallers were located in the South of England.

The table below shows the ten UK towns and cities that saw the largest falls in new listings in June, in comparison to May:

Town/City Region % fall in new listings in May vs. April
Lichfield West Midlands -37.0%
Winchester South -36.5%
Chesterfield East Midlands -34.9%
Salisbury South West -33.3%
Exmouth South -29.8%
Hartlepool North East -29.6%
Bangor Wales -29.5%
Grimsby Yorkshire and the Humber -27.6%
Bath South West -24.4%
Weston-Super-Mare South West -19.9%


How has Brexit impacted on market conditions?

How has Brexit impacted on market conditions?

Despite the majority of areas seeing falling supply in June, a few regions experienced rises. The largest increases were located in the Scottish towns of Inverness and Stirling, where new listings were up by 30.5% and 18.5% respectively.


Alex Gosling, CEO of, observed, ‘fear and uncertainty over the Brexit vote definitely had an impact on buyer and seller confidence in June, with many sellers holding off putting their properties on the market until the result was known. Now we know and although the decision has come as a bit of a shock, at least a degree of uncertainty has been taken out of the equation.’[1]

‘The property market can now roll up its sleeves and get on with it. Nothing has fundamentally changed overnight and people still need to buy and sell homes whatever the market conditions.We still have a supply shortage, and this may well counter any fallout from Brexit. There were concerns about the London market faltering, but demand is still strong in the capital and the weak pound should attract foreign investors looking to pick up bargains – particularly at the top end of the market,’ he continued.[1]

Concluding, Mr Gosling said, ‘for the rest of year, we may see a small dip in prices as there are choppy seas ahead, but it’s certainty not the end of the world levels predicted by some doom-mongers. Supply should hopefully edge up, as fears around the impact of Brexit dissipate and sellers feel more confident about market conditions and the wider global economy.’[1]


Homeowners aged over 55 looking to buy again

Published On: September 3, 2015 at 11:54 am


Categories: Landlord News

Tags: ,,

Nearly four in ten British homeowners aged over 55 are looking to move house again at least once, new research reveals.

Data from an investigation conducted by insurance firm Prudential shows that 37% of over 55’s are intending to move, which will amount to three million future transactions worth more than £775bn.

Purchasing preferences

Despite some predictions, the desire of many to move is not directly linked to the new pension freedoms, with just 14% saying they wanted to move as a result of the changes.

Investment was also found to be popular with the over 55’s. 18% of those plotting another house purchase said that they would not be living in this home, but would favour buying second homes, buy to let properties or homes for relatives.

In monetary terms, Prudential’s research indicates that the average maximum purchase price for the over 55’s next property was £250,000. 20% of people in this age bracket said that they would be willing to spend £350,00 on their next home purchase.

A large majority of 83% said that they felt their next property deal would be their last, but 11% said they would probably buy again in the future.

Homeowners aged over 55 looking to buy again

Homeowners aged over 55 looking to buy again

Pension push?

‘There was a lot of speculation that the pension freedoms would spark a rush of over 55’s investing in buy-to-let property as a means of generating income in retirement,’ said Stan Russell, retirement expert at Prudential. ‘However our research suggests that this hasn’t yet been the case.’[1]

Russell believes that, ‘in fact, the process of withdrawing cash from a pension fund to purchase property and potentially generate an income is complex and could result in a large tax bill.’ He said that, ‘anyone aged 50 or over with a defined contribution pension is entitled to free and impartial guidance from the Government’s Pension Wise service, and many of those considering accesing their retirement savings under the new freedoms would benefit from a consultation with a financial advisor.’[1]

The biggest motivation for over 55’s to move home was found to be to downsize, with 43% citing this as the main reason. ‘Using money raised from a property sale could prove to be a helpful boost to retirement income for some,’ explained Russell. However, he feels that, ‘it’s no substitute for starting to save as early as possible to prepare for eventual retirement.’[1]

Of those looking to buy another property, 29% said they expected to pay more than the price of their current home. 27% said they would look for a cheaper place.