Should you move to Solihull?
Perhaps. According to uSwitch.com, Solihull residents enjoy the best quality of life in the UK thanks to high disposable income, high life expectancy and, er, fast broadband speeds. At the bottom of the list are East and North Ayrshire (because of low income, poor exam results and, um, fewer hours of sunshine). More on this at Ten best places to live in the UK.
Rents going down?
Figures from HomeLet suggest that in October the average cost of renting a home in the UK fell by 4.6% to £815 per month, although rents are still an average of 2.7% more than in October last year.
“Our new figures could suggest the effect of the economic downturn in 2008/09 is beginning to reduce,” said Gary Abraham, HomeLet’s Sales and Marketing Director. “There’s certainly more confidence within the housing market at the moment and an increasing amount of first-time buyers are now purchasing their own properties as a result of increased lending and mortgage availability.
“What needs to be considered as part of these improvements though is who our tenants are. Half of the UK’s regions saw an increase in the percentage of retired people moving into a new rented home over the past 12 months. There’s also been a 7% increase in the percentage of tenants aged 66-70 moving into a new rented property who used to own their own home over the same time period. It appears the demographic of the UK tenant is changing.”
An interesting blog for those interested in the built environment which says it is, “Continually researching evidence of designs of the last 500 years with an emphasis on lost works of architecture, garden planning, interiors, sculpture and building techniques.” http://revivalheritage.blogspot.co.uk/
House purchase lending
House purchase lending increased for the eighth month in a row in October, reaching the highest level in nearly six years, according to the latest Mortgage Monitor from chartered surveyors e.surv.
There were 68,996 house purchase loans in October, with approvals rising 3% from 66,735 in September. Compared to October last year, approvals were 32% higher, equal to 17,000 more approvals. Compared to in January 2013, approvals have risen 27%.
Pictured is a 3 bedroom semi detached house for sale in Brookvale Road, Solihull B92, on for £199,950 with Ruxton.
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