The best places to invest in student housing
Savills have been crunching lots of student accommodation numbers and produced an interesting report which includes their suggestion that around 66,000 homes for families could be made available if more was invested in new purpose-built student housing.
“Two-thirds of this unlockable family housing stock is in the top 25 towns and cities across England and Wales,” say the report’s authors, “where student demand and housing shortages are concentrated. Freeing up 66,000 homes would create demand for up to 260,000 student beds, opening up opportunities for developers and investors.”
They also suggest the best places to invest in student housing which “offer the strongest demand for accommodation” are Bath, Brighton, Bristol, Cambridge, Cardiff, Edinburgh, London, Oxford, and St Andrews.
What’s most stressful about buying a home for the first time?
A survey from the HomeOwners Alliance shows that the top five most stressful aspects of homebuying are finding the right home (41%), hidden costs such as stamp duty and survey (37%), the conveyancing process (37%), completion (36%) and securing a mortgage (26%). It also reveals that women are more concerned about being gazumped than men
Interestingy, aspiring homeowners trust surveyors (62%) and solicitors (52%) more than banks/mortgage lenders (35%) and estate agents (20%).
Paula Higgins, Chief Executive of the HomeOwners Alliance said: “Homeownership remains the dream for many but things aren’t always helped by the professionals. There are trustworthy and conscientious people out there who want to help you look after your home but a few rotten apples can spoil it for everyone. Homeowners and aspiring homeowners need to take control of the situation – your home is one of your biggest investments so research and seek out independent advice about professionals before signing on the dotted line.”
Homebuyers’ average income now above £40,000
Figures from from the Mortgage Advice Bureau suggest last month was the first time that buyers’ income averaged more than £40,000 since January 2009 when MAB first began collecting this data. June’s average of £40,510 was 9% higher than June last year (£37,164). Brian Murphy, head of lending at Mortgage Advice Bureau, said: “June’s figures suggest that the first part of the jigsaw is firmly in place as far as a housing market recovery is concerned. The first instalment of Help To Buy has whetted the appetite for property and sent buyers swarming to their nearest estate agent to see what’s on offer. Having almost 7,000 reservations under his belt will give George Osborne confidence when he steps up to play his next card and reveal the details of the mortgage guarantee scheme. It’s a crucial move that will open up the market to less affluent buyers if he gets it right and if confidence spreads to the construction sector.”
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