{"id":6473,"date":"2014-01-14T12:52:29","date_gmt":"2014-01-14T11:52:29","guid":{"rendered":"http:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=6473"},"modified":"2014-01-14T17:04:05","modified_gmt":"2014-01-14T16:04:05","slug":"where-to-buy-in-2014","status":"publish","type":"page","link":"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=6473","title":{"rendered":"Where to buy in 2014?"},"content":{"rendered":"<p><span style=\"color: #000000;\">Rapidly rising house prices in the booming South East have made for an interesting market dynamic. The recent racing ahead has widened a substantial price differential across the country, which will be of interest to investors and those looking to move home in the coming year.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">The graphic below illustrates what property listing site <a title=\"Adzuna\" href=\"http:\/\/www.adzuna.co.uk\" target=\"_blank\">adzuna <\/a>believes are the best and worst places to buy property in the country.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-6475 aligncenter\" title=\"Where should you invest? 2014\" alt=\"Where should you invest?\" src=\"http:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Best-and-Worst-places-to-buy-Aug13-723x1024.jpg\" width=\"507\" height=\"718\" srcset=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Best-and-Worst-places-to-buy-Aug13-723x1024.jpg 723w, https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Best-and-Worst-places-to-buy-Aug13-211x300.jpg 211w, https:\/\/www.propertysurveying.co.uk\/newsletter\/wp-content\/uploads\/Best-and-Worst-places-to-buy-Aug13.jpg 886w\" sizes=\"auto, (max-width: 507px) 85vw, 507px\" \/><\/span><\/p>\n<p><span style=\"color: #000000;\">The study cross-references house prices in an area with local average incomes, to come up with a percentage of properties within a typical buyer\u00e2\u20ac\u2122s budget. As you\u00e2\u20ac\u2122ll note, Chichester came out at the bottom of the index \u00e2\u20ac\u201c with just 11% of properties a realistic proposition for a typical buyer.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">At the affordable end, Belfast and Hull were joint top of the list with 90% of properties being within the typical local buyer\u00e2\u20ac\u2122s range. \u00c2\u00a0The average asking prices in\u00c2\u00a0<\/span><a href=\"http:\/\/property.adzuna.co.uk\/for-sale\/hull\">Hull<\/a>,\u00c2\u00a0<a href=\"http:\/\/property.adzuna.co.uk\/for-sale\/middlesbrough\">Middlesbrough<\/a>\u00c2\u00a0<span style=\"color: #000000;\">and\u00c2\u00a0<\/span><a href=\"http:\/\/property.adzuna.co.uk\/for-sale\/bradford\">Bradford<\/a>\u00c2\u00a0<span style=\"color: #000000;\">are only 2.2 times the average local couples\u00e2\u20ac\u2122 yearly earnings &#8211; \u00c2\u00a3124,438. Not only is the average couple able to afford 9 out of 10 properties for sale in these areas, nearly all rental properties are within budget for those in full time employment. \u00c2\u00a0\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Buyers in these seemingly cheap locations, however, should be wary. Many analysts point to prices across the board being significantly higher than a level indicated as sustainable by current wage rates. With wages not looking too upwardly mobile at this time, even as growth begins to creep back into the economy, house prices may adjust downwards in the medium-term.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\"><b>Speculate or settle down?<\/b>\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Whether to buy and where depends on what the reason for purchase is, therefore. Those buying long-term for a new home may look favourably on locations like Hull, where a large family home can be purchased without extreme levels of capital outlay. Although domestic buyers may lose some value on the property in the short to medium term, as long as they are happy enough to be stuck in it in five years time; the investment could be worth while.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Further, a location like Hull, and the cheaper prices it offers, will limit the required \u00e2\u20ac\u02dcgearing\u00e2\u20ac\u2122 (capital to mortgage ratio) \u00e2\u20ac\u201c thereby lessening exposure to the interest rate rises that we are bound to see at some point soon; once the Bank of England finally pushes the base rate up from 0.5%.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">With more and more employees working from home and more \u00e2\u20ac\u02dcfootloose\u00e2\u20ac\u2122 businesses capable of operating from anywhere, we could see more buyers in the North this year, escaping London\u00e2\u20ac\u2122s expensive cost of living. Certainly, classical economists would suggest that a regional readjustment in this way is long overdue.\u00c2\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Investors and speculators, though, must be aware that property market prices may lose momentum in the near future if the price to earnings ratio stretches too far. This could result in a downward shift in prices, by what some economists estimate could be 10% or so within the next few years. This adds substantially to risk, an essential consideration to any <\/span>and all investors.<\/p>\n<p>Whilst normal purchasers are more restricted in where they purchase property, speculators will be able to choose between regional markets. They will need to make a judgement on whether to put their money into the strong southern market, where prices have far outstripped wage levels; or the northern markets, where prices are much closer to sustainable levels, but yields and appreciation rates are typically less attractive.<\/p>\n<p><span style=\"color: #000000;\">The result should be an interesting year for British property.<\/span><\/p>\n<p>09\/01\/13\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 \u00c2\u00a0\u00c2\u00a0\u00c2\u00a0 SRJ\/LCB<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rapidly rising house prices in the booming South East have made for an interesting market dynamic. The recent racing ahead has widened a substantial price differential across the country, which will be of interest to investors and those looking to move home in the coming year.\u00c2\u00a0 The graphic below illustrates what property listing site adzuna &hellip; <a href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=6473\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Where to buy in 2014?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"footnotes":""},"folder":[],"class_list":["post-6473","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Where to buy in 2014? - Property Surveying NEWSLETTER<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertysurveying.co.uk\/newsletter\/?page_id=6473\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where to buy in 2014? - Property Surveying NEWSLETTER\" \/>\n<meta property=\"og:description\" content=\"Rapidly rising house prices in the booming South East have made for an interesting market dynamic. 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