A Quarter of All Homes Sold to First Time Buyers

According to this latest article by Alex Johnson of The Independent on September 10th, 2013 NAEA figures show around 26% home sales were sold to first-time buyers.

Around 26% of home sales in August were by first time buyers, according to figures from the National Association of Estate Agents (NAEA), the highest proportion since July 2010 and up from 22% in July.

NAEA members also reported an increase of 29% in the average number of house hunters per branch, up from 250 in July to 322 in August, as well as a slight increase in the average sales agreed per branch in August (nine) compared with July (eight). However, supply levels dropped slightly over the month – the number of available properties per branch decreased from 53 in July to 52 in August.

Around 40% of home buyers last month were aged between 41 and 55 years old, followed by 31 to 40 year olds at 36 per cent. Nearly eight out of ten properties were sold to couples.

Five thousand Lanarkshire homes set to receive green energy

Muirhall Energy has secured a £9million finance package from Santander to expand the Muirhall Windfarm in South Lanarkshire. It is adding two new turbines to the site, the tallest in the UK, to increase production to 60,800 MWh per year, enough to power over 14,300 homes each year. This will prevent 26,144 tonnes of carbon dioxide emissions each year.

Chris Walker, Managing Director of Muirhall Energy, said: “As demand for power increases and fossil fuel reserves deplete it is important we continue make the most of alternative sources of energy and wind power continues to be one of the most cost effective and green solutions.”

Lack of rental homes for families on the market

Figures from Countrywide show that two and three bedroom rental properties saw an increase in average monthly rents in August, up 0.6% and 0.9% respectively. One and four-plus bedroom properties saw a drop of 0.1% and 1.6% respectively. Nick Dunning, Group Commercial Director at Countrywide, said: “August is traditionally a busy period for the rental market with tenants, particularly families, wanting to move into their new rented accommodation before the start of the school term in September. However, demand is not being met by supply and currently there is a particular lack of family-sized properties available to rent, especially in the South of England. Improved conditions in the sales market are attracting reluctant landlords to sell these types of properties specifically in the catchment areas for good schools.”

Property prices in Surrey

According to Zoopla the property prices in Surrey are up 7.35% from five years ago and 4.12% from a year ago. James Wyatt, Partner of Barton Wyatt and Chairman of NAEA Surrey, said: “These figures point to the change in attitude of the money lenders in the last there months. Yet again financial institutions are driving the market and the recent decisions which enables UK buyers to borrow money more easily again has positively turned the market. This has aided sales in the small to medium sized end of the market as most of these properties are purchased with mortgages and in turn we have seen a 33% increase in domestic buyers over the past year in north Surrey.”

Article Source:  http://blogs.independent.co.uk/2013/09/10/a-quarter-of-all-homes-sold-to-first-time-buyers/

Wind Turbines Don’t Hurt Property Values

This article by John Upton of grist on August 28, 2013 declares that wind turbine won't hurt property values in contrast to the previous reports.

Some people who learn that wind turbines are going to be built in their neighborhood freak out about a couple of things, but science can help put their minds at ease.

First, they worry that their health will be harmed if they develop so-called “wind turbine syndrome.” But there is no evidence that wind turbines actually cause any of the ailments commonly blamed on them.

Next, they worry that the value of their property will fall. “Here come those eggshell-colored spinning things that produce energy but no pollution,” they might mutter to one another in hushed tones. “There goes the neighborhood.”

Fortunately, this concern is equally unwarranted, according to a comprehensive new study by Lawrence Berkeley National Laboratory researchers [PDF]. From the study:

We collected data from more than 50,000 home sales among 27 counties in nine states. These homes were within 10 miles of 67 different wind facilities, and 1,198 sales were within 1 mile of a turbine — many more than previous studies have collected. The data span the periods well before announcement of the wind facilities to well after their construction. …

Regardless of model specification, we find no statistical evidence that home values near turbines were affected in the post-construction or post-announcement/pre-construction periods. …

[T]he core results of our analysis consistently show no sizable statistically significant impact of wind turbines on nearby property values.

This was the largest study of its kind, but it was not the first. Studies published by the same laboratory in 2009 and 2011 reached the same conclusions.

“Although there have been claims of significant property value impacts near operating wind turbines that regularly surface in the press or in local communities, strong evidence to support those claims has failed to materialize in all of the major U.S. studies conducted thus far,” said lead researcher Ben Hoen.

Hoen and his colleagues dug up similar but highly localized academic studies focused on parts of Illinois, New York, Ontario, the U.K., and the German state of North Rhine-Westphalia. Only the latter study found any evidence of a potential effect of wind turbines on property values.

So unless you’re investing in real estate in western Germany, you can breathe easy about any nearby wind energy developments. They won’t harm your health, and they won’t diminish the value of your property portfolio.

Article Source: http://grist.org/news/wind-turbines-dont-hurt-property-values/