WhatHouse? Local Wolverhampton

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essentiaLsLocal

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PAPER FROM

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wElComE www.whathouse.com dec 2014 | 3

How has the property market been in the

west midlands this year?

2014 has been a year of two halves, with a

very positive start and price rises in the mid

market being felt in the first six months.

The second half of the year has been more

challenging with the impact of the Mortgage

Market Review, the threat of a mansion tax

and the upcoming general election giving

cause for hesitation. Having said that, we are

ending the year much busier than we would

normally expect to and price is still the key to a

successful sale.

Please tell us about some of the most

prominent market trends of 2014

We have seen more buyers looking to return to

their roots be it from abroad or London and the

south. The gap between the city and country has

never been greater and with the London market

returning to more normal market conditions,

we have started to see buyers moving north.

We have also seen financially sound buyers

purchasing before they sell their existing home.

Has a shortage in the supply of quality

homes been the biggest issue facing agents

this year?

Not in this part of the world - there are plenty

of houses on the market. The biggest issue that

we are facing is making sure that instructions

are priced to attract interest. Buyers now

search for a home in a totally different way

than they did 20 years ago. Most searching is

done online and therefore pricing correctly is

more important than ever. It is very easy for

a buyer to dismiss a property based on price

rather than picking up the

phone and speaking to the

agent – and this makes our job

more difficult.

Should prospective sellers

move now or wait until the spring?

This depends entirely on individual

circumstances and urgency to sell, but in

my experience the more time sellers gives

themselves to market their homes the better

chance they have of achieving their goals.

what do you expect to see happen in the

property market over the next 12 months?

The general election could be a distraction in

the traditionally busy spring months, so we

are anticipating an earlier market in 2015.

The top end of the market may remain fairly

static until the election, but is likely to pick up

afterwards in the event of no mansion tax.

Ahead of the election next may, what policies

would you like to see brought in to help the

industry?

A reduction in stamp duty at all levels would

certainly help the industry. Feedback from

buyers tells us that the cost of moving impacts

on affordability. A reduction in this cost would

get more people moving, with more potentially

being spent on decorating, home improvements

and furniture. We have seen houses with

repair liabilities remain on the market for

longer than those in good order, which implies

that many buyers do not have the funds to take

on renovation projects.

Find out more at www.savills.co.uk ;

01952 239500

As you’ll see from the spread in this edition of WhatHouse? Local, we

very recently held our flagship event for the housebuilding industry and

handed out our annual WhatHouse? Awards.

They are extremely coveted by the industry and if you are in the market

for a brand new home, you might well find a plaque or flag proudly

displaying the fact that that developer, or development, has won one of

these prestigious trophies.

This year’s event was the biggest we’ve held in over 30 years. This is a

clear sign that the new homes industry is doing very well, which is not

just good news for the attendees of our event, but for the country as a

whole.

Not only are these companies

providing the homes that the UK

desperately needs, they are also

providing a substantial number of

jobs. Each new home is estimated

to contribute four new jobs to the

economy, not just on building sites

but further down the supply chain

to the companies providing the

materials and appliances that each

property needs.

Another thing that is clear

from looking at all the winners

(you can download a full judges’ report here www.whathouse.com/what-

house-awards-2014) is that each year, the standards get a little higher.

Specifications which were exceptional just a few years ago are now much

more commonplace and expectations are rising all the time.

Even if you’ve never before considered buying a new home, I urge you

to take a close look at our Awards winners and get a feel for the standard

of new homes on the market today. You may be pleasantly surprised and

impressed by what you see.

This is the final edition of whatHouse? local in 2014 but please

don’t think for a minute that we’re putting our feet up and scoffing

mince pies until the New Year. The whatHouse? team will be

working hard over the next few weeks to bring you an even better

mix of features, interviews and information about your local

property market in 2015.

We hope you’ve enjoyed what you’ve seen over the past few months and

look forward to our first edition of 2015, which will be out on 13 January.

Until then, Merry Christmas and a Happy New Year!

Keith osborne

Editor, whatHouse?

Say what?

agent of the week: Lucy blythe of savills in telford

we have seen more buyers looking to return to their roots be it from abroad or london and the south.

R7218 POTN & Lettings DPS.indd 1 17/11/2014 15:21 R7218 POTN & Lettings DPS.indd 2 17/11/2014 15:21

R7218 What House Ad Nov DPS.indd 1 17/11/2014 14:37 R7218 What House Ad Nov DPS.indd 2 17/11/2014 14:38

New

Contact the Midland’s Leading Estate Agent andrew-grant.co.uk

Maximum exposure, area expertise and high demand has left us withbuyers ready and waiting for new homes.

For more information on promoting your property in our Park Lane office or for a free valuation, please contact Fine & Country Solihull on 0121 746 6400 or email [email protected]

Your property in Park LaneShowcase your property to the lucrative London market

At a glittering event at London’s Grosvenor House Hotel on Froday 21 November, the best new homes and housebuilders in Britain were named at the WhatHouse? Awards 2014, the most prestigious awards in the industry.

The 33rd WhatHouse? Awards was the biggest-ever in its history, with some 1,650 senior figures gathered in the Great Room of the five-star venue. Actor and comedian Rob Brydon presented awards in 20 categories before announcing this year’s Housebuilder of the Year - City & Country Group.

The Essex-based developer also won Gold for Best Medium Housebuilder and Best Renovation, as well as a Bronze for Best Partnership Scheme. Other multiple winners included London Square, Mar City, Millgate, Octagon, Barratt Homes, Berkeley and Grainger plc.

Rupert Bates, editorial director of WhatHouse?, hailed the quality of this year’s entries and winners. “This is what the best housebuilders, large and small, and their supply chains, can deliver. This is what the industry can achieve with passion and professionalism. There were a record number of entries to this year’s Awards. On the basis that nobody enters unless they believe they have a chance of winning, then every single entrant has illustrated huge pride in what has been built.”

The whatHouse? Awards 2014

10 | dec 2014 www.whathouse.com wHATHoUSE? AwARDS 2014

helen Moore of City & Country group

Housebuilder of tHe Year city & country Group

best large Housebuilder sponsored by Zoopla Property GroupGold: redrowsilver: barratt bronze: berkeley

best MediuM Housebuilder sponsored by rocaGold: city & country Groupsilver (joint): caLa homes mar city homes bronze (joint): mount anvil weston homes

best sMall Housebuilder sponsored by moneypennyGold: stone homessilver: antler homesbronze (joint): London square octagon

sustainable developer of tHe Year sponsored by show houseGold: Linden homes

Housing association of tHe Year sponsored by Local worldGold: affinity suttonsilver: sovereign housing associationbronze (joint): L&Q wulvern

best starter HoMe sponsored by aldermoreGold (joint): crest nicholson, Park central, birmingham berkeley, victory Pier, Gillingham, Kentsilver: Lovell, bryn celyn, Pontyclun, rhondda cynon taf, walesbronze (joint): network Living, Langhorne Place, dollis hill, London, nw2 L&Q, capworth court, Leyton, London, e10

best House sponsored by Premier GuaranteeGold: London square, ‘the Pembridge’, London square fulham, London, sw6silver (joint): Latis homes, Greenfield Place, hayes, middlesex, ub3 hill, octavo mews, west Kensington, London, w6bronze (joint): city Legacy consortium, cruden homes, mactaggart & mickel homes, ccG,

malcolm Group and Glasgow city council, ‘the hibiscus’, the athletes’ village, dalmarnock, Glasgow altin homes, sylvan bint, timperley, cheshire

best apartMent scHeMe sponsored by warwick estatesGold: Grainger plc, macaulay walk, clapham, London, sw4silver (joint): united house, Paynes & borthwick, west Greenwich, London, se8 catalyst by design, Portobello square, north Kensington, London, w10bronze: millgate homes, westbrook house, ascot, berkshire

best luxurY House sponsored by LaufenGold: consero London, ‘furzecroft’, st George’s hill, weybridge, surreysilver: octagon, ‘crossacres’, wentworth estate, virginia water, surreybronze: huntsmere, ‘ambergates’, alderley edge, cheshire

best renovation sponsored by Zoopla Property GroupGold: city & country, marquess villas, bentley Priory, stanmore, middlesexsilver: thomas homes, fair mile at cholsey meadows, cholsey, oxfordshirebronze: Linden homes, ashlar court, hammersmith, London, w6

best developMent sponsored by spicerhaart Land and new homesGold: hill, the avenue, saffron walden, essexsilver: st edward, stanmore Place, London ha7bronze (joint): Grainger plc, macaulay walk, clapham, London, sw4 countryside, abode, Great Kneighton, cambridge

best partnersHip scHeMe sponsored by virgin mediaGold: solum regeneration, walthamstow central station, London, e17silver: Kier Partnership homes, manor Kingsway, derbybronze (joint): barratt homes, city & country and banner homes (caLa homes), bentley Priory, stanmore, London, ha7 barratt London and sainsbury’s, fulham riverside, London, sw6

best luxurY developMent sponsored by nolte KitchensGold: millgate homes, holland Place, sunninghill, berkshiresilver: unstudio, canaletto, islington, London, ec1vbronze (joint): octagon, Long walk villas, windsor, berkshire Pennyfarthing homes, nautica, milford-on-sea, hampshire

best Mixed-use developMent sponsored by nicholls & clarkeGold: Quartermile, Quartermile, edinburghsilver: Grainger plc, macaulay walk, clapham, London, sw4bronze: Kier Partnership homes, the Parade, manor Kingsway, derby

best sustainable developMent sponsored by PowerdayGold: barratt, hanham hall, hanham, bristolsilver: Get Living London, east village, stratford, London, e20bronze: morris homes, vista, Peterborough

best retireMent developMent sponsored by moving made easyGold: audley retirement, binswood, royal Leamington spa, warwickshireshire silver (joint): Larkfleet homes and Keystone developments, the croft, bourne, Lincolnshire retirement villages Group, charters village, east Grinstead, west sussexbronze (joint): church retirement Living, steeple Lodge, boldmere, sutton coldfield, west midlands mccarthy & stone, Lady susan court and emma court, basingstoke, hampshire

best brownfield developMent sponsored by Zoopla Property GroupGold (joint): caLa, albert dock, Leith, edinburgh Grainger plc, macaulay walk, clapham, London, sw4silver (joint): mar city, Green Point, colindale, London, nw9 united house, Paynes & borthwick, deptford, London, se8bronze: London square, London square fulham, London, sw6

best interior design sponsored by bekoGold: millgate homes, chart ridge, oxted, surreysilver: countryside, Plot 24, aura, Great Kneighton, cambridgebronze (joint): berkeley homes, maltby house, meridian Gate, Kidbrooke village, Greenwich, London, se3 London square, London square fulham, London, sw6

best exterior design sponsored by alexander James interiorsGold: barratt homes, hanham hall, bristolsilver (joint): redrow, Kingston riverside, Kingston, London, Kt2 hill, the avenue, saffron walden, essexbronze: antler homes, fairwater, milford-on-sea, hampshire

best landscape design sponsored by tcLGold (joint): crest nicholson, bath riverside, bath st edwards, stanmore Place, harrow, London, ha7silver: inland homes, drayton Garden village, west drayton, London, ub7bronze (joint): richstone Properties, the Pembroke, east sheen, London, sw14 beechcroft, frenchlands Gate, east horsley, surrey

The winners in full

This year’s WhatHouse? Awards Gala Luncheon, which took place on Friday 21 November at the Grosvenor House Hotel on London’s Park Lane, was the biggest in its 33-year history, with 1,650 guests attending.Not only that, but there were a record number of entries, too, and the standard gets higher and higher every year. This year, there

were winners from all over the UK, from Bristol to Edinburgh via South Wales, Derby, Cambridge, Cheshire and Northumberland.

Here’s the full list of this year’s Award winners.

find out more about each whatHouse? awards winner at www.whathouse.com

find out more about each whatHouse? awards winner at www.whathouse.com

wHATHoUSE? AwARDS 2014 www.whathouse.com dec 2014 | 11

Take a look at just a

few of the winners of

this year’s WhatHouse?

Awards and you’ll see

features and design

principles that will be

making their way into

the mainstream in just a few years. Here are

some of our favourites, with a few words from

the Awards judges explaining why they won.

ZERo-CARboN HomESbest Exterior Design Gold and best

Sustainable Development Gold – Hanham

Hall, bristol from barratt Homes

Hanham Hall has already won many awards

and is a landmark development from Barratt,

the first in England to achieve the 2016 zero-

carbon standard.

The WhatHouse? judges say: “The

housebuilding industry needs exemplar

schemes like Hanham Hall to act as a marker

and knowledge base to drive sustainable

understanding. Barratt Homes should be

applauded for pushing the boundaries and

setting a benchmark for sustainable living.”

USiNG bRowNFiElD SiTESbest brownfield Development bronze –

london Square Fulham from london Square

While there is pressure to build the houses

we need on Green Belt and undeveloped

greenfield land, London Square demonstrates

how to revive a former industrial trading

estate.

The WhatHouse? judges say: “The result

is a real sense of place and tranquillity

and…the underground car park a technical

triumph. The materials are subtle, soft and

sophisticated; the layouts lifestyle conscious.

This is where green oasis meets London life.”

STREET-SCENE lANDSCAPiNGbest mixed-Use Development bronze – The

Parade, manor Kingsway, Derby from Kier

Partnership Homes

The best developers are utilising a range of

external designs and finishes to their mix of

houses as well as creating beautiful street

scenes with a bold choice of materials and

landscaping.

The WhatHouse? judges say: “The Parade

illustrates this principle with a layout that,

while integrating the car, provides a safe and

attractive streetscape in which the pedestrian

and cyclist have clear priority without the

need for intrusive signage or the curse of

speed bumps, through its sophisticated

detailing use of materials and layout.”

THE DEATH oF THE RADiAToR?best Apartment Scheme Gold – macaulay

walk, Clapham from Grainger plc

Underfloor heating used to be the preserve

of high-end properties, but it’s now more

prevalent in developments aimed at a more

modest budget, as Grainger’s multi-award

winning scheme shows.

The WhatHouse? judges say: “All the mod

cons that you’d find included at a higher price

point are here. It is also admirable that the

same specification from Assael Architecture

and interior specialists MMM applies across

the scale, from a studio apartment to a top-

end penthouse.”

SElliNG THE liFESTYlEbest luxury Development Silver –

Canaletto, islington from UNStudio

UNStudio’s futuristic tower on London’s City

Road exemplifies the idea of selling more than

just a property, with a host of exclusive facilities

for the use of residents and their guests.

The WhatHouse? judges say: “All residents

have access to a 24-hour concierge, gym,

pool, cinema room, games room and spa,

with a private bar/dining club complete

with landscaped terrace on the 24th floor.

Canaletto successfully combines substance

with style and sets an extremely high

standard for its neighbours to match.”

DoUbliNG UPbest interior Design Silver – Plot24, Aura,

Great Kneighton from Countryside

The use of double-height rooms and

mezzanines is an increasingly popular way

to add a ‘wow’ factor to family homes as well

as luxury apartments, used to great effect

in this show home by Countryside.

The WhatHouse? judges say: “This is

another housebuilder that has benefited

from selecting a great firm of architects and

interior designers. The master bedroom has

a living room and the kitchen has a gallery

– what more do you want from a house?

Suna Interiors has…created a Mayfair-style

home in Cambridge.”

Find out more about each whatHouse?

Awards winner at www.whathouse.com

look to the future now

Canaletto, islington from unstudio

Macaulay walk, Clapham from grainger plc

the Parade, Manor Kingsway, derby from

Kier Partnership homes

london square fulham from london square

aura, great Kneighton from Countryside

hanham hall, bristol from barratt homes

miller Homes Midlands has officially

launched its brand new Solihull sales

centre at Mounts Chase, giving house-

hunters the chance to see what could be

their dream home.

The housebuilder opened the sales centre at the

development off Aqueduct Road and High Street in Shirley

on Saturday 22 November. Homebuyers are now able to visit

the site and find out more about the 100 two-, three- and

four-bedroom homes under construction.

In a competitive housing market in the popular suburb,

Miller Homes is looking to its highly regarded customer

service to provide a point of differentiation to property

seekers. The company was awarded five stars for customer

satisfaction in the Home Builders Federation (HBF) National

New Home Customer Satisfaction Survey.

Pat Kimber, sales manager for Miller Homes Midlands,

says: “Everything that we do is to ensure that our buyers

have a positive experience with us. Our five-star rating

shows how dedicated we are to ensuring that customers

enjoy every step of their journey, from the initial visit to the

sales centre to selecting those all important interior extras

with our expert advisers, and of course moving in to their

fantastic new home.”

The new phase of homes was released for sale at the

launch event, with prices starting at £279,950, providing

house-hunters who want to secure one of the earliest plots at

the site with an appealing range of property types. Among

them is the ‘Coniston’ (pictured), a four-bedroom detached

home with an open-plan kitchen/breakfast room, utility

room, separate dining room, en suite master bedroom and

integral garage.

Kimber adds: “Mounts Chase will offer buyers plenty of

choice with a variety of different styles of property available.

With great transport links to the heart of Birmingham this

is the ideal location for those looking to escape the hustle

and bustle of the city, whilst also only being a short hop

away.

“Along with Miller’s five-star rating for customer

satisfaction, our site manager Chris Wilson has been

awarded a Seal of Excellence from the NHBC for his work in

achieving the highest standard in housebuilding, so buyers

can be assured they’re purchasing a fantastic new home.”

For more information visit www.millerhomes.co.uk;

0808 278 6811

12 | dec 2014 www.whathouse.com NEw HomES

+ This Denford 3 bedroom home is ideal for first time buyers and growing families.

+ Includes flooring, upgraded Kitchen and turf to rear garden.

+ Buy with Help to Buy, and you could buy with as little as 5% deposit.

+ Ready to move into. You could be moved into your brand new home just in time for Christmas!

Visit our sales centre today to find out more, and to view our stunning new show home!

Available for just

£139,995

Move into your brand new home just in time for Christmas with plot 109 at Spring Walk, Willenhall

Move in for Christmas

* Taylor Wimpey terms and conditions apply. The images on this page show a typical Taylor Wimpey home and include optional upgrades at additional costs.

Call 01902 544 473or visit taylorwimpey.co.uk/springwalkSales centre open daily 10.00am – 5.00pm

SPRING WALKSpring Lane, Willenhall, West Midlands, WV12 4HW

2 bedroom apartments and 2, 3 & 4 bedroom homes from £133,500

5% deposit is all you need

Ready to move into

35786-TWWM-WhatHouse-SW-HPH-Ad.indd 1 27/10/2014 16:44

New sales centre opens at Solihull development

17-11 Interior photographs from a typical showhome. * Terms and conditions apply, available on request. **En-suites to selected plots.

t: 0845 652 2491sales hotline: 0800 285 1082e: [email protected]

SaleS office and Showhomeopen ThurSday To monday,10am - 5pm www.kierhomes.co.uk

THE BIRCHES Willcock Road, off Dixon Street, Wolverhampton WV2 2DA

your home, your location

amazing specification includes: Contemporary kitchen with upstands Integrated dishwasher & fridge/freezer Stainless steel oven, hob & hood Fitted wardrobes & en-suite to master bedroom** Turfed garden & block paved driveway

Visit The Birches, off Dixon Street, Wolverhampton, this weekend to view the beautiful new showhome at this exciting development of 2, 3, & 4 bedroom homes.

Prices start from only £94,396* through Help to Buy (purchase price £117,995).

MAKE YOUR MOVE... from just £94,396!*

Also coming soon at:WOODlAnDs, BilsTOn2, 3 & 4 bedroom homes off Great Bridge Roadt: 0845 652 2497

HEATH MEADOWs, WillEnHAll2, 3 & 4 bedroom homes off Pennine Way t: 0845 652 2457

THE COppiCE, BROWnHills 2 & 3 bedroom homes off Short Street t: 0845 652 2458

*Help to Buy and all Bloor Homes’ incentives and schemes are subject to terms and conditions and are available on selected developments and selected plots only. Help to Buy is only available on developments in England, up to the value of £600,000 subject to contract, status and eligibility. **£500 worth of John Lewis Vouchers or a Marks and Spencers Christmas Hamper received for reservations and exchange of contracts, or completion of contracts before 23rd December 2014, offer applies to new reservations received from 8th October 2014 only. Prices and availability correct at time of going to press. Terms and conditions apply. Images shown are for illustrative purposes only and do not depict any particular plot.

Move in for Christmas and enjoy an extra special treat on us.You don’t just have to dream about the perfect home. It’s ready and waiting for you at Bishops Manor. You can enjoy £500 worth of John Lewis vouchers** or a Marks and Spencers Christmas Hamper** if you reserve and exchange or complete before 23rd December 2014. Based on 4 & 5 bedroom homes from £425,000.

Bishops Manor, O� Tudor Hill, Sutton Cold� eld B73 6BE

Book a viewing today. Call 0121 354 9271 or visit bloorhomes.com We’re open daily from 10am to 5pm.

New year, new home

*Details correct at time of going to press, 17th November 2014.

Reserve now at one of our stunning developments and you could be celebrating 2015 in style.

lovellnewhomes.co.uk Available on the iPad

Search ‘Lovell homes’/lovellhomes@lovell_uk

Great locations throughout the Midlands

Caldon Quay, Stoke-on-Trent

2 bedroom apartments and 4 bedroom homes

Tel. 01782 484 936

City Reach, Birmingham 3 & 4 bedroom homes

Tel. 0121 222 1968

Harvills Grange, West Bromwich

2 & 3 bedroom homesTel. 0121 514 8778

Monarch Park, Cannock

3 bedroom homesTel. 01543 331 968

Priory Park,

Dudley3 bedroom homesTel. 01384 500 471

Renaissance, Nuneaton

3 bedroom homesTel. 02476 481 594

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Coming Soon...Eden Valley, Walsall2 & 3 bedroom homes

Tel. 01922 460 891

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The Wells is complete with a carpet, curtain and lighting package.

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In a popular location near to Sutton town centre, Mill Rise offers a selection of eight three

and four bedroom homes.Upper Holland Road, Sutton Coldfi eld B72 1RD

Why rent when you can buy? These vibrant new three bedroom homes are ideal for fi rst time

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in the charming village of Yarnfi eld.Ash Lane, Yarnfi eld ST15 0GH

We are Cameron. We look forward to welcoming you home. Explore all of our current and upcoming developments at www.cameronhomes.co.uk. To begin your journey, email our team at [email protected] and discover how we can tailor a deal to suit you!

Coming

soon

Final

property

New

for 2

015

75%

now sold

Settle down in Shropshire. Our Shrewsbury-based sister company, Galliers New Homes, has been building superb new residences in Shropshire for decades. Visit www.galliershomes.co.uk to discover their current collections and preview upcoming sites to launch in the New Year.

With over 20 years’ experience of building outstanding new residences, we understand what it takes to create a home. Our reputation is founded on a dedication to off ering an exceptional customer experience, tailored to suit the individual needs of each buyer. Discover our current collections and take the fi rst step towards your new Cameron home.

Help to Buy is a Government backed initiative in partnership with housebuilders. *Shows price with 20% loan assistance. Available on selected plots, subject to status, terms and conditions. Help To Buy cannot be used in conjunction with any other scheme. It is highly advised, for a swift,smooth transaction that an IFA/Solicitor advised by Redrow Homes is used. Offer cannot be used in conjunction with any other Redrow offer. Image typical of a Redrow homes. Price correct at time of going to press. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UPREPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.

Chestnut Walk, Bilston

Visit: redrow.co.uk/chestnut Call: 01902 471172

HELP TO BUY

Chestnut WalkBankfield Road, BilstonWest Midlands WV14 0TWOpen Daily, 10am ~ 5.30pm

2 & 3 bedroom homes available from only

PURCHASE PRICE HELP TO BUY PRICE

£124,995 £99,996*

AT

11585 Chestnut Walk WHWM 265x340 wc101114.qxp_Layout 1 10/11/2014 10:33 Page 1

According to new data from

the HomeLet Rental Index,

Birmingham is among the top

three least affordable major cities

to rent a home. The findings,

which are determined by a tenant

income-to -rent ratio, show London

at the top of the table, closely

followed by Birmingham and Edinburgh, where tenants

spend 47% of their monthly income on rent.

The data shows that although monthly rental costs

in Birmingham are relatively low (£550 per month,

compared to £700 in Edinburgh and £1,413 in London),

annual salaries are also lower than most other major cities

(£18,777, compared to £23,614 and £50,193).

In contrast, Plymouth (27%), Cardiff (29%) and Leeds

(34%) are among the cities offering the most favourable

ratios between tenant income and rental prices.

Martin Totty, chief executive of Barbon Insurance Group,

comments: “In some parts of the UK, such as Scotland

and East Anglia, where rental prices are now falling or

stagnant, the data tells us that renting in some cities in

these regions is still stretching tenant affordability.

“Looking at the city data against the regional and national

picture would suggest that areas that were previously very

much the domain of homebuyers are becoming popular

areas for renters too, as families move out of cities for a

better quality of life but are unable to join the property

market.”

Rent costs continue to increase in the west midlandsDespite the national findings revealing rent costs on new

tenancy agreements continued to fall across the UK as

whole, prices in the West Midlands bucked the trend,

showing increases of 0.6% last month.

Rent prices in October averaged £660 (from £656 in

September), and show a whopping 11.7% year-on-year

increase (from £591 in October 2013). This regional rise is

the highest in the UK, with London and East Anglia (both

8.5%) and the South East (7.3%) next in line. The overall

average UK year-on-year increase stands as 7.5%, or 4.9%

excluding Greater London.

Responding to the findings, Martin Totty said: “The

recent easing in the rental sector mirrors to some extent

the autumn cooling of the house purchase market, where

house price increases have begun to ease in recent months.

However, with house prices having previously increased

sharply in most parts of the country and little sign of an

improvement in credit conditions, the rentals market looks

set to continue benefiting from demand from large numbers

of people priced out of buying. Rents may not continue to

grow at the pace seen over the past year, but the outlook

remains attractive for landlords.”

18 | dec 2014 www.whathouse.com NEwS

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