£21m a year black hole in the Bexhill Property Market – Is Buy-To-Let Immoral? (Part 2)

An Englishman’s Home is His Castle as Maggie Thatcher lauded – everyone should own their own home. In 1971, around 50% of people owned their own home and, as the baby-boomers got better jobs and pay, that proportion of homeowners rose to 69% by 2001. Home ownership was here to stay as many baby boomers assumed it’s very much a cultural thing here in Britain to own your own home.

But on the back of TV programmes like Homes Under the Hammer, these same baby boomers started to jump on the band wagon of Bexhill buy-to-let properties as an investment. Bexhill first time buyers were in competition with Bexhill landlords to buy these smaller starter homes pushing house prices up in the 2000’s (as mentioned in Part One) beyond the reach of first time buyers. Alas, it is not as simple as that. Many factors come into play, such as economics, the banks and government policy. Are Bexhill landlords fanning the flames of the Bexhill housing crisis bonfire?

I believe that the landlords of the 3,489 Bexhill rental properties are not exploitative and are in fact, making many positive contributions to Bexhill and the people of Bexhill. Like I have said before, Bexhill (and the rest of the UK) isn’t building enough properties to keep up the demand; with high birth rate, job mobility, growing population and longer life expectancy.

According to the Barker Review, for the UK to standstill and meet current demand, the country needs to be building 8.7 new households each and every year for every 1,000 households already built. Nationally, we are currently running at 5.07 per thousand and in the early part of this decade were running at 4.1 to 4.3 per thousand.

 It doesn’t sound a lot of difference, so let us look at what this means for Bexhill …

Continue reading “£21m a year black hole in the Bexhill Property Market – Is Buy-To-Let Immoral? (Part 2)”

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Private renting in Bexhill set to hit 4,919 households by 2021 – Is Buy to Let Immoral? (Part 1)

Can we blame the 55 to 70-year-old Bexhill citizens for the current housing crisis in the town?

Also known as the ‘Baby Boomer Generation’, these Bexhill people were born after the end of the Second World War as the country saw a massive rise in births as they slowly recovered from the economic hardships experienced during wartime.

Throughout the 1970’s and 1980’s, they experienced (whilst in their 20’s, 30’s and 40’s) an unparalleled level of economic growth and prosperity throughout their working lifetime on the back of improved education, government subsidies, escalating property prices and technological developments, they have emerged as a successful and prosperous generation.

Yet some have suggested these Bexhill baby boomers have and are making too much money to the detriment of their children, creating a ‘generational economic imbalance’, where mature people benefit from house-price growth while their children are forced either to pay massive rents or pay large mortgages.

Between 2001 and today, average earnings rose by 65%, but average Bexhill house prices rose by 121.3%

Continue reading “Private renting in Bexhill set to hit 4,919 households by 2021 – Is Buy to Let Immoral? (Part 1)”

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Redwell Estates Join As Members of The Guild of Professional Estate Agents

Leading independent estate agent Redwell Estates is proud to be a member of the prestigious Guild of Professional Estate Agents.

The Guild is a nationwide network of over 750 leading estate agents, all dedicated to maintaining the very highest standards of professionalism and customer service. Guild Membership is traditionally only granted to one agent in a given area.

This status means that Redwell Estates has been judged to have met or exceeded the Guild’s exacting Membership criteria, and in recognition of this achievement has been selected as its sole representative in Bexhill-On-Sea.

“Since joining the Guild in Redwell Estates we are absolutely delighted to represent the network in Bexhill-On-Sea,” says Patrick Stappleton, Managing Director for Redwell Estates. “It is a tribute to all the hard work and investment in building our reputation for high quality professional service, and underlines our position as the leading estate agent in the area.”

Speaking on behalf of The Guild, CEO Marcus Whewell says: “We are pleased and proud to have Redwell Estates as a member of the Guild in Bexhill-On-Sea. Their excellent reputation and focus on outstanding service mean that they have become an important and valued asset to our organisation.”

However, Guild Membership is more than just a badge of quality and professionalism, Patrick Stappleton adds: “Belonging to the UK’s leading network of independent estate agents is also great news for our clients! For local homeowners looking to sell, instructing a Guild agent means outstanding and innovative marketing, and also access to the widest possible pool of buyers – not just in Bexhill-On-Sea, but across the whole country – and more buyers mean the best price for your home!”

The Guild makes available to its members a unique portfolio of marketing services, including:

  • A range of high quality, full-colour leaflets, brochures and other sales materials
  • An exclusive 6 weekly Property Magazine, distributed nationwide through The Guild network
  • Internet marketing to a worldwide audience via The Guild’s own highly rated property website, guildproperty.co.uk
  • A countrywide referral network, linking Guild Members together with hundreds of other agents across the country and generating thousands of enquiries every year
  • Guild Intelligence: up-to-date local market information to drive its sales and marketing activities
  • Direct, high profile access to the important and lucrative international and investment market through The Guild’s National Property Centre, located in London’s world-renowned Park Lane
  • A free, sophisticated, on line training programme (The Guild Associate Scheme) that ensures every office and its team are kept fully updated on any legal requirements and also best practice

With all these advantages, Redwell Estates is keen to further develop and enhance its reputation, marketing and service. “Estate agency is all about people,” says Patrick Stappleton, “which is why we remain committed to the principles of good old-fashioned personal service that has always been our trademark.”

With the expert market knowledge and traditional customer service you expect from a leading local estate agent, plus unrivalled nationwide marketing power, Redwell Estates and The Guild together are a powerful, winning combination!

Enquiries:

For further information, please contact Patrick Stappleton at Redwell Estates on Telephone: 01424 224242 or see: www.redwell-estates.co.uk.

For more information on The Guild of Professional Estate Agents please contact The Guild Team on Tel: 020 7629 4141 or visit: www.guildproperty.co.uk

 

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Bexhill Property Market Sees An Unpredicted Autumn Boost of 7%

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! Happy New Year to you all.

One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and mince pie at my favourite local coffee shop, Blueberries Coffee Shop in Endwell Road.  I met an old client of mine in the coffee shop and we got talking about the Bexhill Property Market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the Bexhill property market.

He asked me what my thoughts were about the last half of the year in regard to the Bexhill property market and if there were any great buy-to-let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy-to-let landlords have been returning in the last few months – proof the market is beginning to bounce back.

Continue reading “Bexhill Property Market Sees An Unpredicted Autumn Boost of 7%”

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