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ABODA FINE HOMES

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FINE HOMES

Welcome to my blog

 

Here you can read all my advice, tips and property market knowledge about buying and selling a high value home in the Wisbech Town & Village area

By Alex at Aboda, Jun 11 2019 05:36PM

The affordability ratio for England and Wales hit another peak at 7.83 in 2018. This means that the median property price in England and Wales is now 7.83 times more than gross average annual earnings, according to new data from the Office for National Statistics (ONS).


This affordability ratio is up from 6.35 in 2009, which dropped from the previous peak in 2007 when the ratio was 6.9.


The data reveals a clear north-south divide. Copeland is the most affordable place to live in England and Wales, with median property prices just 2.5 times that of annual gross earnings. Areas in the North West and Wales take the top five spots for affordability.


Seven of the ten least affordable areas in which to live are located in London, the other three are in the South East.


The East England region is the third least-affordable area in England & Wales as people seek alternative areas to move to outside of expensive London and South-East regions but still within close geographical proximity to London itself - a trend we at ABODA Fine Homes expect to continue in the coming years.


If you'd like to discuss the market in general or need advice about your homes value or move, I'm happy to help anytime - just drop me a message!


Alex Doggett - Owner - ABODA Fine Homes


By Alex at Aboda, Nov 28 2018 08:07PM

An increasing number of people looking to buy homes in the Wisbech area are deciding on the suitability of a home based on the availability of high speed fibre broadband to the property.


A quick analysis of sales volumes to date in 2018 indicates that in areas where sales have increased compared to the same period last year, on average virtually half of all properties have access to ultra-fast broadband, with an average download speed of 46.4mbps.


In contrast, in those areas where sales have fallen, just under one third of properties have access to ultra-fast broadband and the average download speed is slightly lower at just 42.9mbps.


While broadband coverage and speed may well not be the most important factors in choosing which home to buy, their impact on daily live is ever increasing. 89% of adults now use the internet each week, up from just 51% in 2006 (ONS), and a rising proportion of the population works from home for at least part of the week.


If you'd like to discuss the property market in the local Wisbech area, or your home's current value, please do get in touch. I will be happy to help


Alex Doggett - Owner - ABODA Fine Homes


By Alex at Aboda, Oct 30 2018 05:18PM

Stamp duty relief for first time buyers of full-priced houses and apartments is to be extended to first time buyers of shared ownership properties - but this was one of few housing measures in the Autumn Budget.


Addressing the Commons, Chancellor Phillip Hammond said first time buyer numbers were now at an 11-year high thanks to the stamp duty relief on mainstream homes announced last year - therefore he would extend this relief to first time buyers of shared ownership homes, applied retrospectively to late last year and applying to properties costing up to £500,000.


The Chancellor also confirmed previous announcements that the government was spending £44 billion on housebuilding and the stamp duty relief; there will also be a new strategic partnership for social housing with nine housing associations; there will also be a £1 billion boost in the form of Business Bank guarantees for small and medium sized housebuilders.


Although no reference to Help To Buy was made during the speech, a statement afterwards by the Home Builders Federation suggested that it would be extended to run until 2023 for first time buyers only. In addition - and again after the speech - it was revealed that the stamp duty surcharge for overseas buyers would be the subject of a consultation being launched in the New Year; the surcharge would be one per cent.


In his speech, Hammond told MPs that he wanted to ensure the private homes were kept out of the Capital Gains Tax regime; however, he did want to bring yet another rental activity into the tax net. So he announced that from April 2020 there will be limited tax relief on properties where the owner is in shared occupancy with the tenant - so for example, the current Rent A Room allowance and the increased letting of individual rooms through Airbnb and similar platforms. No further details were given during the speech.


So, it's good news for first-time buyers and house builders, but if you are renting a room in your own home, keep your eyes peeled and ears open over the coming years!


If you'd like any advice on the property market or your home, get in touch! I'll be happy to help in any way I can


Alex Doggett - Agency Owner

ABODA Fine Homes


By Alex at Aboda, Aug 24 2018 09:50PM

At their meeting on 2nd August, the Bank of England’s Monetary Policy Committee raised interest rates for just the second time in ten years to 0.75%.


The small rate rise will affect those on variable and tracker rate mortgages (around 3.5 million households), although increases for most are likely to be fairly minimal.


Any mortgages taken out in recent years, specifically since the introduction of 'The Mortgage Market Regulations' in April 2014 that have been subject to strict mortgage lending affordability criteria, should have factored in such an increase. Furthermore, the vast majority of new loans are on fixed rate deals.


Meanwhile, base rates, while at their highest level for nine years, are still very low by historic standards and mortgage rates remain low.


The question potential borrowers will be asking though is, is this the start of many increases?


Another rate rise before the end of the year looks extremely unlikely though. The Bank of England has suggested that any future increases will be gradual with the next small rise (0.25%) in mid-2019 and a further one before the end of 2020.


So, "don't panic, Mr Mainwaring,"and "don't tell 'em your name, Pike."


By Alex at Aboda, Aug 24 2018 09:47PM

The Summer of 2018 has certainly been memorable - and HOT! England has enjoyed it's strongest performance at the World Cup for many years while also enjoying (suffering!) its longest, hottest summer on record.


While Brits have been off enjoying the weather, thoughts of property purchases have taken a back seat for many. However, as we return to work after the long, hot summer, history suggests that agents may see a busy autumn.


On average in the autumn following the last five driest, sunniest and warmest summers; 1995, 1996, 2003, 2006 and 2013, sales rates picked up by an average of 1.8%.


However, in all other autumns since 1995, sales have declined by an average of 8.7% compared to the summer months.


Based on the last 27 years data, this Autumn could be a great time if you wish to sell your home! So if you have been struggling with your home sale this year then do get in touch as soon as possible so you can receive essential advice to secure a buyer for your home this year!


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