Where are the fastest-moving property markets in Britain?

HS2 Driving Growth in the Birmingham City Centre Property Market
New data reveals Scotland and the Midlands have the fastest-moving property markets.
Zoopla analysed regions across Britain and 50 of the largest cities and towns to determine the fastest and slowest-moving property markets. Overall in Britain, it takes an average of 56 days to sell a property.

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Mortgage market sees strong performance during May

The latest data and analysis from residential chartered surveyors, e.surv, has revealed that high activity in April was followed by an equally strong performance during May for the mortgage market.

According to the data, the mortgage market showed no signs of being affected by the slowdown facing the property market and saw 65,801 residential mortgages approved during the month representing a 1.2% rise compared to the same month a year earlier.

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Average rents in England and Wales down 1.7% in May

Average rents in England and Wales fell by 1.7% month on month in May to £901 but they increased in four regions, according to the latest index.

The highest monthly rent in May was in London at £1,643 in May, followed by the South East at £1,044 while the lowest average rent in May was the North East at £634, according to the Goodlord rental index.

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This iconic Nottinghamshire art deco tower could be turned into flats

An art deco tower near Newark could be turned into apartments.

The building and its site, which is coming up for sale at auction in April, has full planning consent for 13 one- and two-bedroomed apartments on the site. 

Permission has been granted for three new-build units within proposed “wings” to the tower and a further eight apartments in two new blocks within the L-shaped grounds.

Two apartments will be in the tower itself.

How the building could look after conversion
How the building could look after conversion

Despite being known locally as the Water Tower, the iconic building was originally constructed in the 1930s as a chimney and is the only surviving section of the former Balderton Hospital.

The tower is an imposing focal point in the new Fernwood residential development on the outskirts of the village of Balderton, two miles south of Newark, and locals are keen to see it preserved.

Previous plans to demolish the building were rejected, as it was deemed to have been a loss to the area.

Nick Trow, valuer at SDL Auctions, the firm auctioning the site, said: “This unique building is ready and waiting to have new life breathed into it. It’s a notable landmark in the area and, once it has been converted to apartments, it could become one of the most desirable addresses in Fernwood.”

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MORTGAGE BROKER NOTTINGHAM

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This week’s Leicestershire new homes round-up

New homes sites are being launched, some are nearly sold out and there are some good offers on the table.  Here’s a round-up of what is happening at new homes sites around the county.

First look at new development this weekend

Mulberry Homes’ Great Bowden development is being launched this weekend.

Some 50 homes are being built in Leicester Lane and you’ll be able view the show home and visit the sales suite from this Saturday, March 23, between 11.00am and 4.00pm.

This will be the first chance to view the new development, named Heathcote Grange, and the three- and four-bedroom properties available.

First chance to see the new homes being built here
First chance to see the new homes being built here

With an already existing presence in Great Bowden through its Hursley Park development, where three properties remain, Kerry Jones, head of sales at Mulberry Homes, said: “Our commitment to Great Bowden matches our exciting growth plans and we’re delighted to be creating a new community within this wonderful village.

“Whilst offering a further 50 homes for Leicestershire property seekers, our key objective remains the same in creating a thriving neighbourhood that first time buyers, families and retired couples alike can treasure.”

Heathcote Grange’s three-bedroom properties are priced from £389,950, with four-bedroom homes starting from £469,950.

Discounts on offer

NHS workers looking to buy a house are being offered incentives on some Leicestershire new homes.

David Wilson Homes East Midlands is offering staff members a discount of between £5,000 to £15,000 on new homes.

This can be used at a number of developments across the county, including New Lubbesthorpe on Beggars Lane, which is near the Leicester Royal Infirmary (LRI).

John Reddington, managing director at the house builder, said: “We are delighted to be able to offer our hard-working NHS staff in the county a special incentive on their homes.

The living room in the show home at The Spinney
The living room in the show home at The Spinney

“With three large hospitals in the area and thousands of people working for the NHS, we hope that these incentives are able to give homebuyers the step on or up the property ladder they may need.”

A breakdown of the offers available to NHS staff is £5,000 worth of extras on the reservation of a two-bedroom home, £10,000 on a three- or four-bedroom home and £15,000 on a five-bedroom home.

The incentives are currently available on selected properties at The Spinney in Burbage, The Chimes in Loughborough where there is just one home remaining, Wigston Meadows in Wigston and Fleckney Fields in Fleckney.

New properties will be launched by the firm in Kibworth later in the year.

The Spinney is within commuting distance of both Hinckley and District Hospital and Hinckley and Bosworth Hospital, whilst Wigston Meadows is in comfortable reach of Leicester General Hospital.

Special scheme for local buyers

In a new move designed to encourage local people – especially those keen to remain in the area – to buy a new home, a special price is being offered on two-bedroom mid or end terraces at Davidsons Homes’ Barley Fields development off Barkby Road in Queniborough.

Normally starting in price from £223,500, the “special lower market value offer” being offered by the builder means that these house types may be bought from £175,200.

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Green light recommended for Lincoln’s new £21m medical school building

Article HerePlans for a state-of-the-art new medical school building at the University of Lincoln have been recommended for approval.

If given the final go-ahead, the £21 million building would be created next to existing science laboratories, the Janet Lane-Claypon Building, and opposite the University’s Isaac Newton Building on the southern edge of the main Brayford Pool Campus. The site already has outline planning permission under an existing masterplan with the first artist’s impressions of the planned building revealed last summer.

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