October 18, 2018

I have been asked a number of times recently what a hard Brexit would mean to the Telford property market. To be frank, I have been holding off giving my thoughts, as I did not want to add fuel to the stories being banded around in the national press. However, it’s obviously a topic that you as Telford buy to let landlords and Telford homeowners are interested in ... so I am going to try and give you what I consider a fair and unbiased piece on what would happen if a hard Brexit takes place in March 2019.

After the weather and football, the British obsession on the UK property market is without comparison to any other country in the world. I swear The Daily Mail has the state of the country’s property market on its standard weekly rotation of front-page stories! Like I have said before on my blog,...

September 19, 2018

With my next baby due in the next two weeks, I thought I would write an article about the struggle our children will come up against when they look to buy their first homes in years to come.

Nearly 3 babies have been born for every new home that has been built in Telford and Wrekin since 2012, deepening the Telford housing shortage.

This discovery is an important foundation for my concerns about the future of the Telford property market - when you consider the battle that todays twenty and thirty somethings face in order to buy their first home and get on the Telford property ladder. This is particularly ironic as these Telford youngsters’ are being born in an age when the number of new babies born to new homes was far lower.

This will mean the babies being born now, who will become the next generati...

September 6, 2018

A noteworthy number of buy to let landlords in Britain plan to buy more properties over the next year notwithstanding the frustrations, challenges and seismic changes in the private rented sector. According to Aldermore, the specialist Buy To Let lender, their research shows around 41% of portfolio buy to let landlord’s objective is to grow their buy to let portfolio (Portfolio landlords are landlords that own more than one property).

So, I thought, “Are Telford landlords feeling the same?” If so, if these numbers were applied to the Telford private rental market, what sort effect would it have on the Telford property market as whole?

Talking to the landlords I deal with, most are feeling quite optimistic about the future of the Telford rental market and the prospect it presents notwithstanding the...

August 17, 2018

In my blog about the Telford Property Market I mostly only talk about two of the three main sectors of the local property market, the ‘private rented sector’ and the ‘owner occupier sector’. However, as I often stress when talking to my clients, one cannot forget the third sector, that being the ‘social housing sector’ (or council housing as some people call it).

In previous articles, I have spoken at length about the crisis in supply of property in Telford (i.e. not enough property is being built), but in this article I want to talk about the other crisis – that of affordability. It is not just about the pure number of houses being built but also the balance of tenure (ownership vs rented) and therein, the affordability of housing, which needs to be considered carefully for an efficient housing ma...

August 7, 2018

The current average value of a property in Telford currently stands at £171,700, so what will the recent increase in the base rates to 0.75% do to the local property market (especially property values)? In many of my articles, I talk about what is happening to property values over the short term (i.e. the last 12 months or the last 5 years), but to answer this question we need to go back over 40 years, to 1975.

The average value of a Telford property in 1975 was £8,312

However, since 1975, we have experienced in the UK, inflation of 807.5%.

Back in 1975, the average salary was £2,291 and average car was £1,840. A loaf of bread was 16p, milk was 28p a pint and a 2lb bag of sugar was 30p. Inflation has increased prices, so comparing like for like, we need to change these prices into today’s money. In r...

July 24, 2018

The average asking price of property in Telford increased by 1.9% or £3,435 compared to a year ago, with particularly good demand from landlords and home-movers in the first few months of the year. This takes the current average asking price to £181,348, compared with £177,913 this time last year.

The rise in asking prices is being aggravated by buyers jumping into action looking to benefit from potential stamp duty savings (especially first-time buyers) or beat impending mortgage interest rate rises later in 2018. Of the numerous Telford buyers starting their property hunting in the usually active spring market this year, many face paying even more than ever for the property of their dreams, and as I mentioned a few weeks ago, there are less properties for sale in Telford compared to 12 months ago...

July 21, 2018

The rents paid by Telford tenants are now standing at £570 per calendar month (PCM), a rise of 2.73% year on year and 0.07% lower month on month.

However, this attention-grabbing monthly rent figure masks stark differences in the various different parts of the Telford rental market.  Demand in Telford for high quality family homes with two or three bedrooms in good catchment areas for schools remains really robust due to tenants wanting access to the schools.  Other influencing factors that make certain areas popular are the proximity to transport links. However, I have noticed a drop in demand (and thus rents achieved) for property where the landlord hasn’t kept the property fresh; in terms of decoration, carpets, replacement windows and poor heating.

So, what does all this mean for Telford la...

July 20, 2018

My fellow Millennials were born between the mid 1980’s and late 1990’s thus making them between the age of around 22 to late 30’s. They are the imaginative, artistic youngsters who grew up with the newest tech and computers and who enjoy music festivals, gourmet pizzas, emoji’s, selfies and old school nostalgia. Also known as Generation Rent, many Millennials have discovered that renting is a good choice for their shelter and accommodation needs without the hassle that comes from buying a home. Nonetheless, that is not the only reason they don’t buy property. When they should be concentrating on their profession, putting down roots and starting a family, Millennials are still going through the pressure and strain of student loan liabilities whilst, at the same time, finding it tough to pay rent.

Th...

July 13, 2018

Beast from the East, Russia, Facebook, Brexit, Trump, House prices up, House prices down ... the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting (and I appreciate the irony of this!) the property market. As an agent belonging to a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork of lots of small property markets all performing in different ways.  

… And that made me think … is there just one Telford Property Market or many?

I like to keep an eye on the property market in Telford on a daily basis because it enables me to give the best advice and opinion on...

July 9, 2018

As I have mentioned a number times in my local property market blog, with not enough new-build properties being built in Telford and the surrounding area to keep up with demand for homes to live in (be that tenants or homebuyers), it’s worrying to note that less Telford home sellers are putting their properties on to the market than a year ago… or is it a worry?

At the start of 2007, there were 673 properties for sale in Telford, but by March 2008, when the credit crunch was really beginning to bite, that number had risen to 1,358 properties on the market at a time when demand was at an all-time low, thus creating an imbalance in the local property market.

Basic economics dictates that if there is too much supply of something and demand is poor (which it was in the Credit Crunch years of 2008/9) … p...

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Ellie Garbett
Property Expert
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Combining great communication skills with an eye for detail, Ellie is a licensed ARLA letting agent and a qualified book-keeper. As a landlord herself, Ellie knows what both landlords and tenants want from the local property market. 

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