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Mending the Broken Jewellery Quarter and Birmingham Property Market

The long-lasting issue of the Jewellery Quarter and Birmingham property market are laid bare as the final 2018 property transaction figures have just been published and they continue the post credit crunch trend of less people moving.

[vc_row type = "in_container" Full_Screen_row_Position = "Middle" Scene_Position = "Center" text_color = "Dark" text_align = "esquerda" Sobreagem_Clumn = "0.3 ″ Shape_Position_Position =" Bottom "] [VC_COLOLT column_padding_position = "all" background_color_opacity = "1 ″ background_hover_color_opacity =" 1 ″ column_shadow = "none" column_border_radius = "into" width = "2/3 ″ tablet_text_alignment =" default "/telefone_tht_tht_tht =" 2/3 ″ Tablet_text_alignment = "default"/telefone_tht_tht_Text = "2/3 ″ Tablet_text_alignment =" default "/telefon_tx_Text =" 2/3 ″ tablet_text_alignment = "default". column_border_style=”solid”][vc_column_text]The long-lasting issue of the Jewellery Quarter and Birmingham property market are laid bare as the final 2018 property transaction figures have just been published and they continue the post credit crunch trend of less people moving.

38.6% less of Jewellery Quarter and Birmingham people are selling their homes annually since the credit crunch, when compared to the post Millennium years of 2000 to 2005

This is not just an issue of the Jewellery Quarter and Birmingham housing market slowing down since the credit crunch – the challenge is to split out shorter-term factors such as Brexit and the elections from longer-term structural issues of the UK society, because when these most recent property transaction figures are seen against longer-term trends for Jewellery Quarter and Birmingham, they suggest more significant issues in the Jewellery Quarter and Mercado imobiliário de Birmingham. As vendas de propriedades, mais de 9.375, por ano, no desafio do colapso financeiro global e subsequente restrição do mercado de hipotecas. Pós-crise de crédito (2012 e além) Localmente, em média, 11.789 propriedades foram vendidas anualmente. Valores?

In the late 1990’s, 14,270 properties were sold annually in the Jewellery Quarter and Birmingham area, then in the same area, the Millennium boom saw transactions rise to 19,207 per annum. Property sales then more than halved to 9,375 per annum in the challenge of the global financial crash and subsequent retrenchment of the mortgage market. Post credit crunch (2012 and beyond) locally, on average, 11,789 properties have sold annually.

So whilst there was a recovery from 2013 onwards, it was rather uninspiring when compared to the pre-credit crunch years, with a lacklustre performance in property transactions since mid 2010’s.

You might ask why we should be concerned about the number of property transactions and not the change in property values?

O número de números de transações é um sino muito mais exato para a saúde e a potência do mercado imobiliário local. Perca como resultado. Outros sugerem que a ausência de moradias adequadas estocam a escada da propriedade (principalmente os bangalôs para a geração mais antiga), combinados com a crescente demanda, está causando um gargalo em nosso mercado imobiliário local.

As less people have been selling their homes locally, this is not only bad for the Jewellery Quarter and Birmingham housing market but for the economy locally, especially when you consider how many allied businesses (builders, decorators, solicitors, removal vans, estate agents, mortgage arrangers and other people) lose out as a result.

Some say the deficiency of supply of property, mainly affordable first-time buyer property, is the chief reason why transaction figures remain stubbornly low. Others suggest the absence of suitable housing stock up the property ladder (particularly bungalows for the older generation), combined with rising demand, is causing a bottleneck in our local housing market.

Eu sei que houve muita conversa de Westminster sobre os grandes programas de construção de casas, mas agora exigimos que eles cumpram esses empreendimentos e, mesmo assim, levará algumas décadas para vermos uma mudança sísmica no trimestre de joalheria e no mercado de imóveis de Birmingham. Os compradores iniciantes não precisam pagar o imposto de selo até um determinado nível, mas essas concessões de imposto de selo podem ser estendidas aos proprietários maduros que desejam reduzir o tamanho. Isso poderia libertar um número significativo de casas familiares maduras ocupadas principalmente por essas gerações maduras e o imposto perdido através do imposto de selo pode ser reabastecido por uma reavaliação das bandas fiscais do Conselho? Parece irracional para nós que a banda de valor superior, ambientada nas revaluações de 1991, não aumentou, principalmente porque os preços das casas em Londres aumentaram mais de 400 % nos últimos 25 anos. O que são seus pensamentos?

In the short-term, a quicker improvement may come from modifications to stamp duty. First time buyers don’t need to pay Stamp Duty up to a certain level, yet those Stamp Duty concessions could be extended to those mature homeowners looking to downsize. This could liberate a meaningful number of mature family homes occupied principally by these mature generation and the tax lost through Stamp Duty could be replenished by a revaluation of the Council Tax bands?

Council Tax bandings were set in 1991 and the seven bands, the highest band starts at £320,000 (based on 1991 values). It seems irrational to us that upper value band, set in the 1991 revaluations, has not been increased, particularly as house prices in London have risen by over 400 per cent during in the last 25years.

That would mean higher tax for those who don’t move yet less tax for those that do move – because we believe it would boost a far more liquid Jewellery Quarter and Birmingham property market.

Just a thought of mending the local property market – what are your thoughts?

James Forrester MD Barrows & Forrester Property Group[/vc_column_text][vc_column_text css=”.vc_custom_1560416884639{padding-top: 20px !important;}”]This article first appeared on BirminghamPropertynews.co.uk. column_shadow = "none" column_border_radius = "none" width = "1/3 ″ tablet_text_alignment =" default "Phone_text_alignment =" default "column_border_width =" into "column_border_style" sólido "] [vc_custom) font_container = ”Tag: h2 | font_size: 18 | text_align: esquerda | cor:%23313541 ″ use_theme_fonts = "sim"] [vc_raw_html] jtndySuymghyzwylm0qlmjjodhrwcyuzqsuyriuyrnr3axr0zxIUy 29TJTJGQKZQCM9WZXJ0EUDYB3VWJTNGCMVMX3NYYUZRHR3C3JJJTI1NUV0ZNCLMJILMJBJBGFZCYUZRCUYMNR3A Xr0zxitzm9sbg93lwj1dhrvbiUMIUMGRHDGETC2HVDY1JB3VUDCUZRCUYMMMZHBHNLJTIYJTNFRM9SBG93JTIWJ Tqwqkzqcm9wzxj0eudyb3vwjtndjtjgysUzrsUzq3njcmlwdcuymgfzew5jtiwc3jjjjtnejtiyahr0chmlm0elm kylmkzwbgf0zm9ybs50d2l0dgvylmnvbsuyrndpzgdldHmuanMlMjilMjbjagfyc2v0jtnejtiydxrmltglmjilm 0ulm0mlmkzzy3jpchqlm0u = [/vc_raw_html] [vc_raw_html] jtndysUymgSyxnzjtnejtiydhdpdhrlci10aw 1LbGluzSUymiuymgrHDGETAGVPZ2H0JTNEJTIYODAWJTIYJTIWAHJLZIUZRCUMMMH0DHBZJTNBJTJGJTJGDHDPDH Rlci5jb20lmkzcrlbyb3blcnr5r3jvdxalm0zyzwzfc3jjjtnedhdzcmmlmju1rxrmdyUymiuzrvr3zwv0CyUymgj 5jtiwqkzqcm9wzxj0eudyb3vwjtndjtjgysUzrsuymcUzq3njcmlwdcuymgfzew5jjtiwc3jjjtnejtiyahr0chm lm0elmkylmkzwbgf0zm9ybs50d2l0dgvylmnvbsuyrndpzgdldhmuanmlmjilmjbjagfyc2v0jtnejtiydxrmltg lmjilm0ulm0mlmkzzy3jpchqlm0ulmja = [/vc_raw_html] [vc_raw_html] jtndysUymghyzwylm0qlmjjodhrw cyuzqsuyriuyrnr3axr0zxiuy29tjtjgqkzqcm9wzxj0eudyb3vwjtngcmvmx3nyyuzrhr3c3jjjti1nuv0znclm JilmjbjbgfzcyUzrcuymnr3axr0zxitzm9sbg93lwj1dhrvbiuymiuymgrhdgetc2hvdy1jb3vudcuzrcuymmzhb Hnljtiyjtnfrm9sbg93jtiwjtqwqkzqcm9wzxj0eudyb3vwjtndjtjgysUzrsUzq3njcmlwdcuymgfzew5jtiwc 3Jjjtnejtiyahr0chmlm0elmkylmkzwbgf0zm9ybs50d2l0dgvylmnvbsuyrndpzgdldhmuanmlmjilmjbjagfyc 2v0jtnejtiydxrmltglmjilm0ulm0mlmkzzy3jpchqlm0u = [/vc_raw_html] [/vc_column] [/vc_row] [vc_row type = ”Full_width_background” Full_Screen_row_Position = "Middle" Equal_Height = "Sim" BG_COLOR = "#313541 ″ cenário_position =" Center "text_color =" Dark "text_align =" esquerdo "Top_padding =" 30 ″ Bottom_padding = "30" 30 "30" 30 "30" "Dark" 30 "" Dark_align = "esquerdo" shape_type = ””] [vc_column column_padding = "no-extra-padding" column_padding_position = "all" background_color_opacity = "1 ″ background_hover_color_opacity =" 1 ″ column_shadow = "nenhum" column_bor_radius tablet_text_alignment = "default" Phone_text_alignment = "default" column_border_width = "None" column_border_style = "sólido"] [image_with_animation image_url = "41030 ″ alinhamento" max_width = ”100%”] [/vc_column] [vc_column column_padding = ”no-extra-padding” column_padding_position = ”all” background_color_opacity = ”1 ″ background_hover_color_opacity =” 1 ″ FONT_COLOR = ” column_border_radius = "none" width = "3/4 ″ tablet_text_alignment =" default "Phone_text_alignment =" default "column_border_width =" into "column_border_style =" sólido "[vc_column_text] birmingham. Nele, você encontrará conselhos de propriedade, informações do proprietário, atualizações de mercado, notícias e análises da comunidade local que se relacionam especificamente a Birmingham. Você também encontrará propriedades recomendadas de outros agentes imobiliários aqui que podem fazer uma compra ideal para deixar, compra pela primeira vez ou até sua próxima casa de sonho.

Para mais informações, visite https: //birminghampropertynews.co.uk [/vc_column_text] [/vc_column] [/vc_row] || 379

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