the heatons property blog

Welcome to Paul

Welcome to Paul who has joined our busy Heatons team as a Professional viewer.

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Why do existing home owners move house?

  • There are 14.4 million households across England who own their own home, either outright or with a mortgage. This is 63% of all households.
  • Of these, the latest results from the Survey of English Housing estimate that 576,000 (4%) are planning to move within the next six months.
  • Moving up the ladder to a larger home is the primary motivation for existing owners, although not for those who own their home outright. Almost a third of those who own outright are looking to downsize.
  • As the new school year gets underway shortly, moving home to be in particular school catchment areas is a motivation for almost 10% of owners with a mortgage.
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Mortgage Debt: A Regional Breakdown

  • £873 billion – the total value of mortgage debt across England, according to the latest data released by UK Finance. That equates to just over £130,000 for every owner occupier mortgaged household across England.
  • The level of mortgage debt is rising, up 2% on a year ago, and 8% higher than four years ago. That’s not surprising given stretched affordability and the increasing number of longer term mortgages. Over half of all first-time buyer mortgages are issued for a period of 30 years or more according to the 2017/18 English Housing Survey, up from just 40% in 2015/16.
  • The level of debt per household is highest across the capital, where property prices are close to twice the England average. Less than half of all households across London are owner occupiers, just 22% of households are owner occupiers with a mortgage. This compares to 65% and 30% respectively across the rest of England.
  • To date in 2018, 95% of all new mortgages issued for new homes and remortgages have been on fixed rate deals. While the average interest rate has increased slightly, from 2.09% in January to 2.2% in May, this remains low compared to historic standards and any interest rate rise is unlikely to cause significant waves across the market.
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Kids Summer Pizza Making

If any of your off spring are bored over the Summer holidays, then Roost are hosting ‘Pizza Making Sessions’

The Roost team will help your little ones roll out their own dough, add favourite toppings and watch their creations come to life in a professional wood fired pizza oven.

Running from 11.15am till 1pm, the three sessions are on the below dates.

Wednesday 1st August

Wednesday 8th August

Wednesday 22nd August

Please call Roost on 0161 432 4666 to reserve your place. £10 per child which includes Pizza, Fries, Ice-Cream and Juice.

Suitable for ages 5 to 11.

 

 

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Green Lane Allotment Society

If your diary is free on Sunday, then pop along to the annual Green Lane Allotment Society open day.

There are a huge number of stalls selling fresh produce, home bake and preserves, Pimms, Real Ale and a large BBQ. There is also a tombola and plenty of children’s activities to keep kids entertained.

Starting at 1.30pm and finishing at 4.00pm – Trophies to be presented at 3.30am followed by auction of Produce.

Admission £1 Children Free.  

 

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Heart of The Heatons Arts Festival

On the 5th to the 14th October, a brand-new arts and culture festival is arriving, ‘Heart of The Heatons’.

This exciting festival will be providing a diverse programme of events at various locations across the area. All things ‘Art and Culture’ will be celebrated so if your wanting to get involved in something like this, here’s your chance.

If this interests you, please see below how to make contact.

https://www.heartoftheheatons.com/ #heartoftheheatons

 

 

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Commuting distances

Measuring commuting distance might seem a little obscure but it actually offers a particularly good insight into the character of any local housing market. For example, commuter towns tend to really come alive at the weekends but are quieter in the week. Areas where most people work locally will have a stronger community feel day-to-day.
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Fluctuations in prices over recent years

It won’t come as any massive shock that houses are generally worth more than flats in our area. However, when it comes to the movements over time, these two broad types of property do not always behave similarly. Here we see how flats and houses have varied in price.

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Sales levels in recent months by type

The property market fluctuates on a seasonal basis, and this is particularly the case for sales rates. This chart shows how the market has changed over the course of the last few months. The most recent periods are estimates based on the previous year’s pattern.

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Three big reasons to bet on the Heatons property market

As you’re no doubt aware, there’s a lot of doom and gloom surrounding the national property market at the moment. For example the Nationwide index showed that in June, annual house price growth had slowed to a five-year low. Our area hasn’t been immune; in the first quarter of 2018, there were 18.7 per cent fewer sales than the same period in the previous year.

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