Latest Property News | Taylor Robinson

Almost three-quarters of people are worried about the energy efficiency of their homes given the ongoing energy crisis, according to a recent survey by the Home Builders Federation (HBF).
The highest levels of concern are among females (81%), those aged 35-44 (86%) and those living in the social rented (82%) and private rented sectors (80%).
1 in 4 of those who are worried about their homes being energy efficient say that when they buy their next property, its energy efficiency will be crucial.
The most important sustainable home features considered to be: insulation (51%), double/triple glazed windows (50%), energy efficient appliances (39%) and a heat pump/ modern condensing boiler (21%).
Source: Dataloft, Home Builders Federation

For a buyer with a 25% deposit, the monthly mortgage payment in all areas remains lower than the equivalent monthly rent for a 2-bed flat (2-year fixed rate mortgage, over 25 years).
However, for those with a 10% deposit (90% LtV), increased mortgage rates in March mean that in London, the monthly rent would be 9% less than mortgage payments, and there is virtually no difference in the South West, South East and East.
For first-time buyers, getting together a deposit is still the most significant barrier to home ownership. Maintenance costs and giving up flexibility are other considerations.
As interest rates continue to rise, the monthly cost gap is likely to narrow further in all regions and this may see more 'would-be' first-time buyers evaluating their housing options.
Source: Dataloft, Land Registry, DRMA, Bank of England

Since the start of 2022 interest rates have risen by 0.5%, however for those looking to purchase a home many mortgage rates remain attractive.
It is estimated over 1 in 4 households are on mortgage deals affected by changing interest rates (UK Finance), but the average 2 year variable rate published by the Bank of England is actually lower than a year ago.
At 3.99% the revert-to-rate is 0.37% higher year-on-year. For those with a 25% deposit the current 10-year fixed rate is just 0.33% above the 2-year fixed rate.
Back in 2008 when the base rate was last 0.75% and in 2014 when affordability tests were introduced, rates were far higher. The next meeting of the Banks Monetary Policy Committee is on Thursday 5th May.
Source: Dataloft, Bank of England, For general information only. Specialist advice on investments must always be sought.

More than one in four private rental households could be headed by a person over the age of 55 by 2035 according to a new report by the Social Market Foundation.
A greater proportion of current renters in this age group consider an unfurnished property and the length of tenancy priorities than those aged 18–34 and 35–54.
In terms of the neighbourhood they choose, proximity to local shops and closeness to family and friends are top considerations, with access to healthcare a key consideration for the future.
Research has found that renters aged 55+ are less likely to pay a premium for additional facilities within their property compared to younger generations (Dataloft, Property Academy 2021).

In his Spring Statement on 23 March 2022, the Chancellor announced the scrapping of VAT on materials and installation of energy efficiency equipment for homes.
Energy efficiency is becoming more important to buyers as a result of escalating bills and concerns about fuel security.
Homes sold with an EPC rating of A or B in 2021 achieved a 6% premium over properties with an EPC D rating, on a £ per square foot basis.
A substantial shift in buyer behaviour might require more significant financial implications. The Energy Efficiency Infrastructure Group are lobbying for a reduction in SDLT for energy efficient properties.
Source: Dataloft/UK Government