Property boom trebles £1m-plus homes - Published:26/09/07
The effect of the property bang has been revealed by a new report showing that the figure of homes selling for more than £1m has almost trebled over the past five yearsPOLL: How will the Northern Rock saga have an effect on the UK store rate Where will it be at the end of 2007A senior store boss has told the Daily Mail's Lucy Farndon that home prices will fall 50% Don't miss: Lucy Farndon's columnAlmost 6,200 homes in England and Wales sold for seven shape sums in the year to the end of June according to Halifax Estate Agents - a enormous increase on the 2,250 sold in the day to June 2002Bolstered by rapidly rising home prices the amount of £1m-plus properties in England and Wales has reached around 88,000 from 30,000 five years agoBut while the leap in the figure of £1m homes has helped lift the in general worth of their owners history the magic millionaire mark - it has left those at the bottom of the property steps or unable to get on to it with a mountain to climb if they want to own a top-end propertyThose who only bought their first possessions in recent years will not have benefited from the enormous increases in house prices seen since the mid-1990s and will be unlikely to have the equity or income to ever purchase a luxury house unless they are very high profits earnersAccording to Halifax's historic house price calculator a £1m house in London today, would have cost just £124,600 in 1983The average salary nowadays is £23,300, according to the Office of National Statistics, while the standard wage in 1983 was £7,700In the same time that the cost of the equivalent toa contemporary day £1m home has risen eightfold, salary have only trebled And while in 1983 the property would have cost 16 times the standard annual pay, it now stands at 43 times the current average wageA buyer of a £1m home today, with a 25% deposit, would need to take out a £750,000 mortgage to fund their purchase while a purchaser of the 1983 equivalent would have needed to borrow £94,000On a refund mortgage on an standard rate of 7% over 25 years the modern day borrower would pay £840,250 worth of interest, distant outstripping the £105,311 worth of interest that would be paid by the 1983 borrowerUnsurprisingly, Halifax said that more than semi of all properties sold for at least £1m during the 12 months to last June were in London However, the assets's share of seven figure homes is decrease from 68% five years ago to 58% today, as prices go up across the rest of the countryColin Kemp, managing director at Halifax land Agents, said: 'Million pound possessions sales are now taking place right across England and Wales and not now in inner London At the same time, million pound possessions clusters are emerging'In London, million hit sales are centred on Kensington and Chelsea There are other clusters around Cobham, Esher and Weybridge in Surrey and around Altrincham, Macclesfield and Wilmslow in Cheshire'Around 6% of all homes sold for more than £1m were in the North during the 12 months to the end of June, twice the proportion seen five years earlierOverall a third of postcode districts in England and Wales had at least one property in them that sold for at least £1m during the day to the end of June, compared with only 17% five existence previouslyAround 59% of districts in London and 57% in the South East had at least one of the sales, although this fell to now 15% exterior of the south of EnglandThe number of homes exterior of the south of England advertising for at least seven figures has more than doubled during the history two years alone to 393 homesHalifax supposed 1,067 homes in England and Wales sold for more than £2m during the year to the end of June almost three-quarters of these sales were in London, but every region separately form Wales had at least one home that sold for £2m-plusIs it not about occasion too that the BBC stops devoting the whole week-day's morning TV to property speculationI similar to the desperate attempts at positive spin I consider sales volumes are down significantly on 2006 - so why choose to publicise comparisons with 5 years before Why not go back 100 yearsThe property boom is over, lets look at the future and not the past This article now confirms that house prices are way too rxpensive in family member to wagesSelect a loan term 12 months (1 day 24 months (2 years) 36 months (3 existence 48 months (4 existence 60 months (5 existence 72 months (6 existence 84 months (7 existence 96 months (8 years) 108 months (9 years) 120 months (10 years)Please choose a type of insurance Life insurance Home and inside Car stop working services Health - medical Health - dental Travel Pet.
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Saga Home Insurance: Garden furniture can attract thieves - Published:13/09/07
The over-50s expert claimed that it is not always feasible for people to put garden furniture absent every day - which can attract "opportunistic thieves"Barbecues, terrace heaters, furniture, ornaments and bird tables are all items which could be popular by criminals, according to John Potter, manager of Saga"Even the more modest backyard furniture sets can cost hundreds and whilst many policies, like Saga's, do provide cover as normal it is important for people to check to ensure their cover truthfully reflects the worth of their set," he saidHe added that an increasing number of gardening programmes on television proves how important outside areas have become to homeowners these daysRecently, the Target Group Index exposed that more than one million people in the UK spent £150 on vegetation alone between April.
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Saga Home Insurance: Garden Furniture Can Attract Thieves >>
Consumers 'benefit' from early travel insurance planning - Published:31/08/07
Research carried out by Saga shows that almost one in five respondents in a census have had a holiday cancelled prior to departureSaga believes that those populace who have purchased travel insurance when they disburse for their holiday are more likely to successfully maintain back their moneyIt maintains that while more than two-thirds who buy travel insurance well before they go away might be able to claim back part of the cost of their holiday, only half will have such a chance if they pay money for insurance in the week before departureSome ten per cent of respondents in the poll reported losing out when holiday plans went incorrect because they had not purchased coverAndrew Goodsell, chief executive of Saga group, said: "This research clearly demonstrates the need to safe insurance well before you plan to travel as the cover is in force from the day it's purchased, not just whilst you.
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Consumers 'Benefit' From Early Travel Insurance Planning >>
