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The prestigious Wimbledon Championship, the oldest tennis tournament in the world, is currently in full swing. As the world's top tennis players compete for glory on the grass courts of the All England Club, fans and spectators are indulging in the quintessential Wimbledon experience. With around 800 players, 679 matches, and over half a million spectators expected to attend, this year's championship promises to be a grand spectacle that captivates fans around the globe. The tournament, which commenced on June 26th, is set to conclude on Sunday, July 16th.

While tennis enthusiasts eagerly follow the thrilling matches, another traditional aspect of Wimbledon that has garnered attention is the consumption of strawberries and cream. Every year, spectators at the Championships collectively spend approximately £500,000 on this classic British treat. Close to 200,000 portions of strawberries and cream are sold during the tournament, priced at £2.50 per portion.

One interesting aspect of this delightful tradition is the fact that the price of a portion of strawberries and cream has remained unchanged since 2010. In a world where inflation has affected numerous goods and services, Wimbledon has managed to maintain the same price for this iconic dish over more than a decade. While it may seem like a small detail, it highlights the commitment to tradition that permeates the championship.

In contrast to the stable price of strawberries and cream, the average price of a property in the UK has experienced a significant increase during the same period. Since 2010, property prices have surged by a staggering 54%, in Crawley this has been a massive 67.7%. Back in 2010, the average price of a property in the UK stood at just over £171,000. At that time, only one in every 20 properties sold for over £500,000.

However, in the past year, the landscape of the property market has transformed dramatically. More than one in every six properties sold has now exceeded the £500,000 mark. This statistic, drawn from Dataloft, Wimbledon, Nationwide, and Land Registry data based on sales recorded in 2010 and the year leading up to the end of May 2023, reveals the substantial inflation that has taken hold in the property market.

The contrasting trajectories of the price of strawberries and cream at Wimbledon and property prices in the UK underscore the broader economic changes that have transpired over the past decade. While some sectors have witnessed significant inflation, others have managed to maintain stable prices, preserving cherished traditions and experiences.

As fans continue to flock to the All England Club to witness thrilling tennis matches and savour the iconic combination of strawberries and cream, they can appreciate the consistency and nostalgia associated with this culinary delight. Amidst a changing world, where prices fluctuate and economic dynamics evolve, the Wimbledon Championship remains a steadfast institution, offering a blend of tradition and sporting excellence that has captivated audiences for over a century.

In the past year, a significant portion of home purchases across Wales and England (excluding London) have been exempt from property taxation. This exemption has had a notable impact on the local housing market in Crawley and neighbouring areas. With a considerable number of homes falling below the thresholds for property taxation, buyers, particularly first-time buyers and those seeking smaller properties, have been able to enter the market more easily. This article will delve into the effects of property tax exemptions on the local Crawley market and explore the implications for different property types.

Tax Exemptions Fuel Market Activity:

According to recent data from Dataloft, the Land Registry, DLUHC, and property sales from the year ending in April, more than 60% of homes in Wales and approximately 48% of homes in England (excluding London) purchased by home movers have been exempt from property taxation. These figures highlight a significant trend that has shaped the real estate landscape.

Affordability and Accessibility for Home Movers:

In Wales, over 90% of all 1-bed and 2-bed apartments sold fell below the £225,000 threshold for Land Transaction Tax. Similarly, in England, the proportions of apartments sold below the £250,000 threshold for Stamp Duty Land Tax were 92% and 77% for 1-bed and 2-bed apartments, respectively. This indicates that a vast majority of apartment buyers, including first-time buyers and downsizers, have benefited from these tax exemptions.

Moreover, a significant number of 3-bed houses in both Wales and England were sold below the price thresholds for taxation. Nearly three out of four 3-bed houses in Wales and over half in England were priced below these thresholds. This has made 3-bed houses more affordable for families and buyers seeking larger properties.

Boost for First-Time Buyers:

In England (excluding London), the threshold for first-time buyers stands at £425,000, which is even higher than the thresholds for other property types. The data reveals that 80% of all homes sold in the past year were below this threshold. Notably, 96% of all apartments and 80% of all terraced homes fell beneath this limit. This exemption has been instrumental in enabling first-time buyers to make their way onto the property ladder, especially in Crawley and its surrounding areas.

Impact on the Local Crawley Market:

The property tax exemptions have had a positive effect on the local housing market in Crawley. With a higher percentage of affordable homes available, demand has surged, leading to increased market activity. The increased affordability has attracted a diverse range of buyers, including first-time buyers, downsizers, and families, with more people coming into the area from London.

The surge in demand had also created a favourable environment for property sellers. Those looking to sell their homes are likely to find a larger pool of potential buyers, resulting in quicker sales and, in some cases, increased property prices. The tax exemptions have effectively facilitated transactions and stimulated the housing market in Crawley.

The significant number of homes exempt from property taxation across Wales and England (excluding London) has had a notable impact on the local housing market in Crawley. The affordability and accessibility of properties, particularly for first-time buyers and those seeking smaller homes, have driven increased market activity. The tax exemptions have not only empowered buyers but have also presented opportunities for property sellers. As the housing market in Crawley continues to be positive, these property tax exemptions play a crucial role in shaping its growth and development.

Recently-released statistics on planning applications have revealed a worrying trend of declining major residential approvals across the country. Since reaching its peak at 6,617 in 2017, the number of major residential approvals has steadily decreased, with the latest figures showing only 4,221 approvals, marking the lowest point in a decade. This downward trajectory raises concerns about the future of housing development in the region.

Crawley, is not immune to the effects of this decline. As major residential approvals continue to dwindle nationwide, the impact on local communities like Crawley becomes increasingly evident. With fewer major housing projects receiving approval, the potential for new homes and increased housing supply in the area diminishes.

Despite these concerns, there is a glimmer of hope in the form of increased housing completions. The number of newly completed homes in the past 12 months has reached a 10-year high, with over 177,000 homes finished during this period. This indicates that Crawley and the surrounding regions are still benefiting from the previous peak in residential approvals that occurred between 2017 and 2019. The completion of these homes helps to alleviate some of the immediate pressure on the housing market.

However, it's important to note that the full impact of declining major residential approvals may not be felt immediately. Research conducted by Lichfields in 2020 suggests that developments consisting of over 500 homes can take an average of three years to begin completions, while projects with 200 or more homes may take as long as 8.4 years. Therefore, the repercussions of the current decline in approvals are likely to extend into the foreseeable future.

Interestingly, despite the fluctuations in residential planning pipeline, average house prices in Crawley and its surroundings have continued to rise steadily over the past decade. This suggests that, for the time being, the local housing market remains unaffected by the dwindling number of major residential approvals. It's worth noting that this trend may not persist in the long run, as a sustained decline in housing supply could potentially impact prices.

While the recent statistics on planning approvals reveal a concerning trend of declining major residential approvals, Crawley and the wider West Sussex area continue to experience growth in the housing sector. The completion of a record number of homes in the past year is a positive indicator of ongoing development. However, the potential long-term implications of the current decline in approvals should not be ignored, as they could significantly impact housing supply and potentially affect housing prices in the future. Continued monitoring of the situation and proactive measures to address the decline in major residential approvals will be crucial to ensure the sustainable growth of the housing market in Crawley and its surrounding regions.

The arrival of British Summer Time marks the beginning of a season filled with warmth, sunshine, and outdoor activities. It's a time when nature awakens, flowers bloom, and people eagerly seek opportunities to savor the fresh air. What better way to celebrate this delightful transition than by indulging in the age-old tradition of picnicking? Coinciding with the start of British Summer Time, National Picnic Week encourages us to pack our baskets, gather our loved ones, and head to our favourite outdoor spots.

The allure of a picnic lies in its simplicity and the joy it brings to those partaking in it. Picture this: a picturesque park, a lush green meadow, or a sandy beach—ideal settings that provide the perfect backdrop for a leisurely afternoon spent with family and friends. What makes picnics even more accessible and enjoyable is the abundance of public parks, gardens, play parks, and playing fields available throughout Great Britain. In fact, an astonishing 27.6 million homes, representing 95% of households, are within a mere 10-minute walk of these inviting outdoor spaces. Crawley offers 7.7% of its area as public green space, surpassing the regional average of 3.2%. These green spaces provide residents with opportunities to relax, exercise, and connect with nature, enhancing the overall quality of life and able to enjoy a good picnic.

For those who relish the sound of crashing waves and the feeling of sand between their toes, the coastline beckons. With approximately 5.4 million households—nearly one in five—located within a 30-minute walk of a beach, the options for seaside picnics are aplenty. Whether you prefer the serene tranquillity of a secluded cove or the lively atmosphere of a bustling coastal town, the beach offers an idyllic setting for a delightful picnic experience. Crawley with its great transport links offers a short train journey down to the coast to enjoy a day at the seaside.

Picnics, however, are not just about the location; they provide an opportunity to unwind, connect with nature, and enjoy some quality time with loved ones. With the fast pace of modern life, picnics offer a chance to slow down, relax, and savor the little moments that often pass us by. According to estimates, people in Great Britain partake in picnics at least three times a year on average. With a population of around 65 million, that amounts to a staggering number of picnics!

National Picnic Week, a celebration of these beloved outdoor gatherings, encourages people across the country to embrace the tradition and create lasting memories. The event serves as a reminder of the simple pleasures that nature provides and the benefits of spending time in the great outdoors. Whether it's enjoying a delicious spread of sandwiches, fruits, and refreshing beverages or engaging in outdoor games and activities, picnics offer something for everyone.

The start of British Summer Time and National Picnic Week provide the perfect opportunity to indulge in the time-honoured tradition of picnicking. With an abundance of accessible public parks, gardens, and beaches within easy reach, there's no excuse not to pack a picnic rug, gather your loved ones, and immerse yourself in the beauty of nature. So, as the sun shines brightly and the warmth of summer envelops us, let's make the most of this glorious season by embracing the outdoors and enjoying the simple pleasures of a picnic.