137% increased in Property Values in Boston since the Millennium

Boston house prices since the Millennium have risen by 137.38%, whilst average salaries in Boston have only grown by 51.27% over the same time frame. This has served to push homeownership further out of reach for many Boston people as they have to battle against raising considerable deposits and meet sterner lending criteria, as a result of new mortgage regulations introduced in 2014/5.  The private rental market in Boston has grown throughout the last twenty years with buy-to-let investors purchasing a high proportion of newly built residential properties that were built and designed for the owner occupier sales markets.  For example, in the Boston and Skegness Constituency, roll the clock back 20 years and there were 35,602 properties in the Constituency, whilst the most recent set of figures show there are 43,799 properties – a growth of 8,197 properties. Continue reading “137% increased in Property Values in Boston since the Millennium”

Asking Prices of Boston Property up 5% in the last year

I had an interesting question the other day from a homeowner in the Skirbeck Quarter who asked me the difference between asking prices and values and why it mattered. When it comes to selling property, there must be agreement between the purchaser (buyer) and seller (vendor) for a property sale to take place. The value a buyer applies to a property can massively differ from the value a seller or mortgage company places upon it. The seller, the buyer and the mortgage company must find an agreeable value to assign to a property so the sale can proceed. Continue reading “Asking Prices of Boston Property up 5% in the last year”

10.41% slump in Lincolnshire and Boston Property Transactions

In this post credit crunch world of sub terrain low interest and annuity rates so low a limbo dancer would smart, the growth of buy to let since 2009 has been phenomenal. So much so, there has been an evolution in purchase of property in the UK from that of just buying the roof over one’s head to that of a buy to let investment where it is seen as a standalone financial asset to fund current and future (i.e. pensions) investment. So recently, a few days before the release of latest Land Registry data of property transactions, quite a few market commenters were anticipating a huge increase in the number of properties sold in January as the 1st of April 2016 stamp duty deadline got closer. Continue reading “10.41% slump in Lincolnshire and Boston Property Transactions”

514 Boston Properties lie empty

Easy problems should have easy solutions  – shouldn’t they?
Problems like Boston’s housing crisis, where we have a rudimentary numerical problem of too few homes for too many people … the answer is clearly to build more property in Boston – but that, unfortunately for those desperately seeking to purchase or let a property, takes a lot of time and huge amounts of money. So what of other solutions? Continue reading “514 Boston Properties lie empty”

Property of the week: The Paddock – Kirton

Expecting a yield of around 5.77% this semi detached house is set within the popular location of Kirton which lies approximately 5 miles south of Boston. The village offers plenty of amenities including sports and social clubs, local shops, Primary and Secondary School.

 The property itself offers well presented internal accommodation including lounge diner, bathroom, cloakroom, kitchen and 3 bedrooms.

 Externally the house has 2 allocated parking spaces and an enclosed low maintenance rear garden. Furthermore the property has double glazing and gas heating. All these offerings make it an ideal home for a young family.

 The property is currently on the market at £129,950 with Poyntons and the full details can be seen by clicking on the link below

 http://www.rightmove.co.uk/property-for-sale/property-59045381.html

 

Brexit and Boston Property market

April Fools Day was no joke for some landlords, as they rushed their buy to let property purchases throughout late March to beat the extra 3% stamp duty George Osborne imposed on buy to let properties after the 31st March 2016. Because some investors brought forward their 2016 property purchases to save the extra tax, speaking to fellow property professionals in Boston, all of us have noticed, since the clocks went forward, demand to buy in April and May from these landlords has eased. Continue reading “Brexit and Boston Property market”