Almost a Quarter of Baldock Properties are Leasehold

There are 23.36 million properties in England and Wales with 64% being owner occupied and 36% being rented either from a private landlord, local authority or  Housing  Association. Over nine out of ten of those English and Welsh owner-occupied properties are a whole house or bungalow. Now, most people would assume they would be freehold – however, of those renting nearly half of rental properties, 44% to be precise, lived in other leasehold apartments and flats. It might be wise to quickly explain the difference between freehold and leasehold. When someone owns the freehold of a property they own it outright, including the land it is built on, whilst with a leasehold property the leaseholder owns the property for the length of their lease agreement. Leaseholders must pay the person who owns land (the freeholder) ground rent and other fees. When the leasehold ends, ownership returns to the freeholder although the leaseholder can extend the lease or they can buy

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40.1 miles – The average distance people go to escape living in Baldock

“How far do Baldock people go to move to a new house?”  This was an intriguing question asked by one of my clients the other week.  Readers of my property blog will know I love a challenge, especially when it comes to talking about the Baldock property market.  For the majority, the response is not very far.  It is much more common for homeowners and tenants in Great Britain to move across town than to the next town or county.  Until now, it’s been hard to say how many homeowners and tenants moved from and to relatively far away to buy or rent their new home.  However, I carried out some research and requested some statistics from the Royal Mail and what came back was fascinating. Using statistics for the 12 months up to the middle of Autumn 2016, 192 households moved out of Baldock and the average distance was 40.08 miles, the equivalent of moving from Baldock to Brackley

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6.52 Babies Born for Each New Home Built in the Baldock area

As more babies are being born to Baldock and North Hertfordshire mothers, I believe this increase will continue to add pressure to the over stretched Baldock property market and materially affect the local property market in the years to come. On the back of eight years of ever incremental increasing birth rates, a significant 6.52 babies were born for every new home that was built in the North Hertfordshire Council area in 2016.  I believe this has and will continue to exacerbate the Baldock housing shortage, meaning demand for housing, be it to buy or rent, has remained high.  The high birth rate has meant Baldock rents and Baldock property prices have remained resilient, even with the challenges the economy has felt over the last eight years, and they will continue to remain high in the years to come. This ratio of births to new homes has reach one its highest levels since 1945 (back in the early 1970’s the

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Should the 1,677 home owning OAP’s of Baldock be forced to downsize?

This was a question posed to me on social media a few weeks ago, after my article about our mature members of Baldock society and the fact many retirees feel trapped in their homes.  After working hard for many years and buying a home for themselves and their family, the children have subsequently flown the nest and now they are left to rattle round in a big house.  Many feel trapped in their big homes (hence I dubbed these Baldock home owning mature members of our society, ‘Generation Trapped’). Should we force OAP Baldock homeowners to downsize? In the original article, I suggested that we as a society should encourage, through building, tax breaks and social acceptance that it’s a good thing to downsize. But should the Government force OAP’s? One of the biggest reasons OAP’s move home is health (or lack of it).  Looking at the statistics for Baldock, of the 1,677 homeowners who are 65 years and older,

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