where – Property & Development Magazine https://www.padmagazine.co.uk News & Reviews for the Residential Property Sector Thu, 22 Feb 2024 08:43:47 +0000 en-GB hourly 1 https://www.padmagazine.co.uk/wp-content/uploads/2023/11/favicon-pad-150x150.jpg where – Property & Development Magazine https://www.padmagazine.co.uk 32 32 First affordable homes at pioneering Climate Innovation District with a vision to create an inclusive community where everyone is welcome https://www.padmagazine.co.uk/press-releases/first-affordable-homes-at-pioneering-climate-innovation-district-with-a-vision-to-create-an-inclusive-community-where-everyone-is-welcome/ https://www.padmagazine.co.uk/press-releases/first-affordable-homes-at-pioneering-climate-innovation-district-with-a-vision-to-create-an-inclusive-community-where-everyone-is-welcome/#respond Thu, 22 Feb 2024 08:43:45 +0000 https://www.padmagazine.co.uk/?p=22858 Sustainable property company CITU has delivered its first affordable homes within the Aire Lofts apartment scheme, at the…]]>

Sustainable property company CITU has delivered its first affordable homes within the Aire Lofts apartment scheme, at the heart of the pioneering, multi award-winning Climate Innovation District in Leeds.

Working in partnership with social housing provider Leeds Community Homes (LCH), eight one and two-bedroom apartments are now available with the first residents set to move in imminently. This tranche is part of Aire Lofts and is the first of three phases of affordable homes being developed at the Climate Innovation District which will ultimately offer a total of 16 homes within the community. Three homes in this phase are being marketed as shared ownership* opportunities with the remainder available through social rent agreements.

CITU has been working with LCH since 2016 to incorporate social housing as an integral part of the Climate Innovation District which is being delivered on the banks of the River Aire, just a few minutes’ walk from the city centre. The LCH-managed homes of course enjoy the same industry-leading specification and sustainable credentials as their neighbours, with high performing energy efficiency in all the homes which are designed and manufactured on site.

The homes offer city centre living combined seamlessly with zero carbon sustainability credentials. All the apartments’ interiors feature a high-quality finish with concrete floors, exposed pipework and maximum natural light. It’s a ‘less but better’, stripped back aesthetic and bold design that has attracted industry accolades and the thriving, growing community already resident at the District.

Once complete, Aire Lofts will consist of 108 one and two-bedroom apartments, with a handful of bespoke penthouses. These have been designed around open, shared outdoor spaces, including a large central green, purposefully bringing residents together to create a social and inclusive community. Every apartment also benefits from south-facing windows to maximise natural light and fresh air, and abundant green space with plants, many of them edible, surrounding the building. A new green space is also set to open imminently with a football pitch, outdoor cooking facilities and a tennis wall for residents to enjoy.

CITU’s in-house design team maximised the internal space of the apartments by eliminating corridors to create spacious, airy and bright rooms with apartments enjoying dual aspect views of Leeds cityscape.

CITU Managing Director Jonathan Wilson said: “CITU is a zero-carbon, place-maker and developer with creativity and design at its core. Often developments treat affordable housing as an inconvenient add-on to be accommodated, rather than an opportunity to build a truly inclusive and diverse community where every person has something of value to contribute.


“We focus on making sustainable living, and inclusive design completely accessible we will of course do the right thing for the right reasons this approach has been rooted in the Climate Innovation District from when the very first home was built. Ultimately, it is about creating a beautiful and sustainable future for all of our residents, irrespective of the journey that brought them here
.”


Jimm Reed, LCH Development Director added: Since the very beginning we have enjoyed a close relationship with CITU and have been really encouraged by their vision of a truly inclusive community where everyone is welcome. You can see that already even with the District only part-occupied, it really is an incredible place.

“As well as the properties available via social rent, we also have three apartments allocated for shared ownership. These are an excellent opportunity for people in Leeds who can’t otherwise afford it to get a foot on the first rung of the property ladder, in an award-winning development, which is such a rarity in a prime city centre location.”

*Shared ownership allows a first-time buyer to purchase up to 75% of the property and pay rent on the remaining part. Anyone interested in shared ownership at Aire Lofts, can find out more at https://leedscommunityhomes.org.uk/climate-innovation-district/

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The UK areas where homes are selling the most above list price  https://www.padmagazine.co.uk/sales-marketing/the-uk-areas-where-homes-are-selling-the-most-above-list-price-2/ https://www.padmagazine.co.uk/sales-marketing/the-uk-areas-where-homes-are-selling-the-most-above-list-price-2/#respond Wed, 21 Feb 2024 08:40:27 +0000 https://www.padmagazine.co.uk/?p=22844 New research has found the UK areas selling homes the most above list price, with East Renfrewshire taking…]]>
  • Homes in East Renfrewshire are selling the most above list price over every other area in the UK 
  • East Dunbartonshire is second in the rankings, with prices rising at an average of around £34,155 more than they were originally listed for 
  • Cambridge is selling homes the third most above list price 

New research has found the UK areas selling homes the most above list price, with East Renfrewshire taking the lead. 

The study by experts at moving platform Getamover.co.uk analysed historical Zoopla data for homes sold at a different amount than the list price. The average sale price, average listing price and the difference between the two were considered to reveal which areas see the most homes above their original list price and how much more on average.  

It found that East Renfrewshire has the highest number of properties sold above the list price in the UK. On average, a home in East Renfrewshire is sold for £272,187, but homes are listed initially at an average price of £235,479. This means that potential buyers who are looking to purchase a house in this area are seeing an average price increase of £36,708

East Dunbartonshire takes second place, with the average home in this area selling for £262,979 compared to its £228,824 list price. The average difference between its sale price and what it originally listed is £34,155

Cambridge comes third on the list, where homes sell for around £31,662 more than originally listed. The average sale price for a home in Cambridge is £779,219, but houses tend to be listed for around £747,557. 

In fourth place is Edinburgh, with an average selling price of £329,51; homes in this city tend to be listed at £298,887. The price increase tends to leave potential buyers needing an additional £30,627 more than anticipated. 

Completing the top five is East Lothian, where homes tend to be listed on average at around £255,219. Despite the original list prices in the area, homes typically sell for £284,675, which is £29,456 more than the original price range. 

The City of London is seeing houses sold on average at £807,500. However, homes are typically listed at around £849,983, which is a £42,483 reduction in price.  

On the other hand, Manchester is listing houses at £228,138 on average, but the properties on the market are selling at an average of £234,848, which is £6,711 more than the average list price. 

The top 10 areas in the UK where homes are selling the most above list price  

Rank Area Average Selling Price of a House (£) Average Listing Price of a House (£) Average Price Increase from Original Listing (£) 
East Renfrewshire                272,187               235,479                         36,708  
East Dunbartonshire                262,979               228,824                         34,155  
Cambridge                779,219               747,557                         31,662  
City of Edinburgh                329,514               298,887                         30,627  
East Lothian                284,675               255,219                         29,456  
Stirling                258,061               230,189                         27,872  
City of Glasgow                190,742               163,177                         27,564  
South Ayrshire                173,987               152,970                         21,017  
Kensington and Chelsea             3,103,765            3,083,947                         19,818  
10 Argyll and Bute                224,520               205,126                         19,394  

Commenting on the findings, David Burrows, head of Getamover.co.uk,

“Buying a home is expensive no matter where in the UK you choose to settle down, but a fantastic investment, this study gives huge insight into the most desired areas of the country and where you might find yourself having to pay rather a lot more than the original list price. 

Typically in the UK, the best time to purchase or sell a property is during spring or summertime. By avoiding the colder winter and autumnal months, the risk of having to move during adverse weather conditions like snow and ice is less likely, making a more seamless completion of the sale and getting you in or out of your new home in no time. 

Interestingly, despite London being the most populated city in the UK, it struggles to sell homes above the original list price compared to similar popular areas such as Manchester and Glasgow, which rank higher in the rankings. House prices are also affected by the seasons. Prices are higher at certain times of the year, often spiking in the summer months, especially July, in comparison to the colder months mainly after the Christmas period. It has been found that there are more buyers in the market in spring and summer which means prices do not need to be discounted.” 

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The UK areas where homes are selling the most above list price  https://www.padmagazine.co.uk/sales-marketing/the-uk-areas-where-homes-are-selling-the-most-above-list-price/ https://www.padmagazine.co.uk/sales-marketing/the-uk-areas-where-homes-are-selling-the-most-above-list-price/#respond Thu, 15 Feb 2024 10:39:24 +0000 https://www.padmagazine.co.uk/?p=22757 New research has found the UK areas selling homes the most above list price, with East Renfrewshire taking…]]>
  • Homes in East Renfrewshire are selling the most above list price over every other area in the UK 
  • East Dunbartonshire is second in the rankings, with prices rising at an average of around £34,155 more than they were originally listed for 
  • Cambridge is selling homes the third most above list price 

New research has found the UK areas selling homes the most above list price, with East Renfrewshire taking the lead. 

The study by experts at moving platform Getamover.co.uk analysed historical Zoopla data for homes sold at a different amount than the list price. The average sale price, average listing price and the difference between the two were considered to reveal which areas see the most homes above their original list price and how much more on average.  

It found that East Renfrewshire has the highest number of properties sold above the list price in the UK. On average, a home in East Renfrewshire is sold for £272,187, but homes are listed initially at an average price of £235,479. This means that potential buyers who are looking to purchase a house in this area are seeing an average price increase of £36,708

East Dunbartonshire takes second place, with the average home in this area selling for £262,979 compared to its £228,824 list price. The average difference between its sale price and what it originally listed is £34,155

Cambridge comes third on the list, where homes sell for around £31,662 more than originally listed. The average sale price for a home in Cambridge is £779,219, but houses tend to be listed for around £747,557. 

In fourth place is Edinburgh, with an average selling price of £329,51; homes in this city tend to be listed at £298,887. The price increase tends to leave potential buyers needing an additional £30,627 more than anticipated. 

Completing the top five is East Lothian, where homes tend to be listed on average at around £255,219. Despite the original list prices in the area, homes typically sell for £284,675, which is £29,456 more than the original price range. 

The City of London is seeing houses sold on average at £807,500. However, homes are typically listed at around £849,983, which is a £42,483 reduction in price.  

On the other hand, Manchester is listing houses at £228,138 on average, but the properties on the market are selling at an average of £234,848, which is £6,711 more than the average list price. 

The top 10 areas in the UK where homes are selling the most above list price  

Rank Area Average Selling Price of a House (£) Average Listing Price of a House (£) Average Price Increase from Original Listing (£) 
East Renfrewshire                272,187               235,479                         36,708  
East Dunbartonshire                262,979               228,824                         34,155  
Cambridge                779,219               747,557                         31,662  
City of Edinburgh                329,514               298,887                         30,627  
East Lothian                284,675               255,219                         29,456  
Stirling                258,061               230,189                         27,872  
City of Glasgow                190,742               163,177                         27,564  
South Ayrshire                173,987               152,970                         21,017  
Kensington and Chelsea             3,103,765            3,083,947                         19,818  
10 Argyll and Bute                224,520               205,126                         19,394  

*Please contact for the full table. 

Commenting on the findings, David Burrows, head of Getamover.co.uk,

“Buying a home is expensive no matter where in the UK you choose to settle down, but a fantastic investment, this study gives huge insight into the most desired areas of the country and where you might find yourself having to pay rather a lot more than the original list price. 

Typically in the UK, the best time to purchase or sell a property is during spring or summertime. By avoiding the colder winter and autumnal months, the risk of having to move during adverse weather conditions like snow and ice is less likely, making a more seamless completion of the sale and getting you in or out of your new home in no time. 

Interestingly, despite London being the most populated city in the UK, it struggles to sell homes above the original list price compared to similar popular areas such as Manchester and Glasgow, which rank higher in the rankings. House prices are also affected by the seasons. Prices are higher at certain times of the year, often spiking in the summer months, especially July, in comparison to the colder months mainly after the Christmas period. It has been found that there are more buyers in the market in spring and summer which means prices do not need to be discounted.” 

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