Baldock Homeowners and their £260.9 million Debt

  Over the last 12 months, the UK has decided to leave the EU, have a General Election with a result that didn’t go to plan for Mrs May and to add insult to injury, our American cousins elected Donald Trump as the 45th President of the United States. It could be said this should have caused some unnecessary unpredictability into the UK property market. The reality is that the housing and mortgage market (for the time being) has shown a noteworthy resilience. Indeed on the back of the Monetary Policy pursued by the Bank of England there has been a notable improvement of macro-economic conditions! In July for example it was announced that we are witness to the lowest levels of unemployment for nearly 50 years. Furthermore, despite the UK construction industry building 21% more properties than same time the previous year, there has still been a disproportionate increase in demand for housing, particularly in the most thriving areas of the Country. Repossessions too

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Supply and Demand Issues mean Baldock Property Values Rise by 3.3% in the Last 12 Months

The most recent set of data from the Land Registry has stated that property values in Baldock and the surrounding area were 3.3% higher than 12 months ago and 21.47% higher than January 2015. Despite the uncertainty over Brexit as Baldock (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Baldock property market can also be seen from those two sides of the story. Looking at the supply issues of the Baldock property market, putting aside the short-term dearth of property on the market, one of the main reasons of this sustained house price growth has been down to of the lack of building new homes. The draconian planning laws, that over the last 70 years (starting with The Town and Country Planning Act 1947) has meant the amount of land built on in the UK today, only stands at 1.8% (no, that’s not a

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Baldock’s New 3 Speed Property Market

“What’s happening to the Baldock Property Market” is a question I am asked repeatedly.  Well, would it be a surprise to hear that my own research suggests that there isn’t just one big Baldock property market – but many small micro-property markets? According to recent data released by the Office of National Statistics (ONS), I have discovered that at least three of these micro-property markets have emerged over the last 20+ years in the town. For ease, I have named them the … ‘lower’ Baldock Property Market. ‘lower to middle’ Baldock Property Market. ‘middle’ Baldock Property Market.   The ‘lower’ and ‘lower to middle’ sectors of the Baldock property market have been fuelled over the last few years by two sets of buyers. The first set, making up the clear majority of those buyers, are cash rich landlord investors who are throwing themselves into the Baldock property market to take advantage of alluringly low prices and even lower interest rates. The other

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