Archives for Welsh Property News

2020 Housing Affordability Report with Stats for England & Wales for 2019, from the Office for National Statistics

Housing affordability in England and Wales: 2019 Commenting on the findings, ONS Head of Housing Analysis Nigel Henretty said: “This is the first significant improvement in housing affordability in England for ten years. “While housing remained significantly more affordable in Wales than in England, the gap between the most affordable and least affordable local areas decreased for the first time in four years. This was driven mainly by decreasing house prices in the least affordable areas.” Go to the ONS release or view the full release by reading on: Release:Housing affordability in England and Wales: 2019 Contact: Nigel Henretty Release date: 19
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People, Population & Community Stats from the Office for National Statistics / ONS

Living longer: implications of housing tenure in later life Last month, we looked at how housing tenure had changed over time, with future generations of older people more likely to live in rented accommodation than they do now. Today’s article explores some of the implications this has, including Amongst private renting households containing someone aged 60 or over, fewer than half have savings or investments. This compares with over three quarters of those who own their homes outright. Not all those who own outright are well-off. While a quarter of older households that own outright had at least £50,000 in savings
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Welsh Business News / WelshBiz – Budget, Bugs & Business Rates – A Welsh Property Perspective…

Richard Murphy. Head of Cushman & Wakefield’s Cardiff Office responds to the Chancellor, Rishi Sunak’s 2020 Budget and what it means for Wales: “It is hard at this time to look beyond the short-term COVID-19 issues. In that regard, the Chancellor’s “budget within a budget”, contained some positive reassurance to many of our clients running small businesses in Wales, which form the life blood of our economy. This, coupled with some clarity on sick pay measures is helpful, coming off the back of the recent Bank of England announcements, will provide some immediate reassurance. However, the unknown remains in relation
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An Investor’s Guide to Becoming a Landlord…

An Investor’s Guide to Becoming a Landlord… AN INVESTOR’S GUIDE TO BECOMING A LANDLORD When times of economic uncertainty bite, many investors review their portfolios to find alternative sources of income. With interest rates still fairly low, letting residential property can offer a viable long-term alternative. But as with most investments, you’ll need to become an expert in a new field and adapt to ongoing changes in regulation. The laws governing the private-rented sector can be overwhelming, but with the correct advice, property investors can set off on the right track. Long-term flexibility and security According to the Office of
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SME Property Boom ‘on the Way’ as Firms Look to Expand – Business News Wales

Small and medium sized businesses are set to drive a commercial property boom in the next two years, according to a new study. Research from by finance specialist Together shows nearly six out of ten SMEs (58 per cent) – nearly 3.4 million across the UK – say a boost in business is driving a need to move or extend their existing site for additional staff and equipment as well as space for storage. Among firms with property plans, 30 per cent are looking to move to bigger premises while one in six (16 per cent) aim to extend their
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Two big steps forward for the South Wales regeneration scheme 🏗 🏴󠁧󠁢󠁷󠁬󠁳󠁿

A £135m South Wales regeneration scheme took two big steps forward last week. A preferred bidder was announced for the Swansea Central Phase One hotel site. They are the nationally renowned premium hotel operator, Cairn Group, which is in discussions with a number of international hotel brands for the site. And the design of the scheme’s landmark bridge was unveiled. It is a playful and spectacular gold-coloured interpretation of a striking swan figure. It was designed by respected Swansea artist Marc Rees in collaboration with contemporary architect, ACME. Swansea Central Phase One is being developed by Swansea Council as a
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Port Talbot is Britain’s Property Hot Spot 🏠 🏴󠁧󠁢󠁷󠁬󠁳󠁿

Portalbot Britain's Property Hot Spot... It may be best known for its giant smoking steelworks but Port Talbot proved to be Britain's property hot spot last year, figures show. The industrial town saw average house prices rise by 7.5% during 2019 - almost five times the national average. Cheap seafront houses and removing the Severn bridge tolls helped fuel the rise, according to estate agents. Four Welsh towns made the top 10 while Aberdeen, Witney in Oxfordshire, and Woking in Surrey saw the biggest falls. For 70 years the sprawling steelworks - among the largest in Europe - has dominated
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