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World Kindness Day, observed annually in November, serves as a global reminder of the importance of kindness in fostering connections and building communities. As we celebrate this day dedicated to spreading goodwill, it's worth examining the role of kindness in the realm of real estate, particularly for renters. Recent findings from the #Dataloft, Property Academy Renter Survey 2023 shed light on the significance of community in the decision-making process for those seeking rental properties.

The Power of Kindness in Building Communities:

At the heart of World Kindness Day is the belief that small acts of kindness can have a ripple effect, creating a positive impact on individuals and communities. This sentiment is echoed in the world of real estate, where forming connections and building a sense of community can greatly influence the decisions of renters.

Key Considerations for Renters:

For almost two-thirds of renters, the local community plays a crucial role when searching for a property to rent. The desire to be part of a welcoming and supportive community is a driving force, with 71% expressing that a sense of community in the local area would significantly influence their decision to stay longer in a rental property.

Meeting People and Making Friends:

In the quest for community, the act of meeting people and making friends is a pivotal aspect for renters. Beyond the physical attributes of a property, the social environment and the potential for forming connections with neighbours are paramount considerations. This aligns with the spirit of World Kindness Day, emphasizing the positive impact of human connections.

The Need for Local Community Information:

Nearly one in four renters expresses a desire to receive local community information. This highlights a growing recognition among renters of the importance of being informed and engaged with the surrounding community. Property seekers are not merely looking for a place to live; they are seeking a home within a thriving and supportive neighbourhood.

Influence on Decision-Making:

The statistics speak volumes about the influence of community on rental decisions. A staggering 48% of renters would choose a property more quickly if it offers a sense of community, emphasizing the urgency with which individuals seek connection and belonging. Furthermore, 7% are willing to pay more for the privilege of residing in a community-oriented environment, underscoring the tangible value placed on a sense of belonging.

We should all try and be kinder.

As we reflect on World Kindness Day and its global message of fostering connections, it is clear that the principles of kindness extend beyond personal interactions to shape our choices in various aspects of life, including the places we choose to call home. For renters, the sense of community is a powerful motivator, influencing decisions, and enhancing the overall living experience. In the pursuit of kindness, let us recognize the significance of being kind and building communities that nurture positive connections, creating spaces where individuals not only reside but truly belong.

The green belt, a fundamental town planning policy in the United Kingdom, has been strategically designed to combat urban sprawl, preserve natural landscapes, and channel development towards sustainable locations. This policy typically encircles major cities, extending approximately 5–10 miles from the peripheries of built-up areas, safeguarding small satellite towns and villages from being engulfed by urban expansion. In recent years, there has been a notable shift in the size of the green belt, sparking discussions about the delicate balance between development and conservation.

Changes in Green Belt Size

Between 2013 and 2021, there was a modest reduction in the total area covered by green belt, decreasing from 16,390 to 16,140 square kilometres. However, the year 2021/22 marked a significant milestone with the first major expansion of the green belt in recent memory. A new extension, spanning 269 square kilometres, was implemented to protect the town of Morpeth in Northumberland. This expansion underscores a commitment to preserving the integrity of green belt areas amidst the ongoing challenges of urbanization.

Property Trends in Green Belt Areas

In the context of property transactions, a noteworthy 5,000 out of the 347,000 properties sold in England within the past year were situated in green belt areas. Additionally, ongoing development activities within the green belt are apparent, with at least 21 large projects currently under construction. These projects encompass a diverse range of developments, including garden villages, retirement communities, and urban extensions. This trend reflects the increasing demand for housing and amenities while navigating the constraints imposed by green belt policies.

Population and Community Impact

A little over one million people currently reside within green belt areas, benefiting from the assurance that local development will be limited and carefully planned. This deliberate approach aims to preserve the tranquillity and natural beauty of the surrounding countryside. Over 2,000 small towns and villages find themselves nestled within the protective embrace of the green belt, ensuring their landscapes remain untouched by rampant urbanization.

The green belt policy stands as a crucial element in the broader landscape of town planning in the United Kingdom. While changes in its size have been noted, the recent expansion signifies a commitment to maintaining a delicate equilibrium between urban development and environmental conservation. The ongoing challenges posed by property transactions and large-scale developments within green belt areas underscore the need for continued vigilance and thoughtful planning. As the UK navigates the intricate interplay between growth and preservation, the green belt remains a key instrument in shaping sustainable and harmonious communities.

Sources:

Dataloft

DLUHC (Department for Levelling Up, Housing and Communities)

Land Registry

Census 2021

Becoming a first-time homeowner is a significant milestone for many individuals. However, the journey to property ownership often involves a complex financial puzzle, primarily centered around the deposit. The average deposit paid by a first-time buyer in the UK stands at £43,693, according to data from Dataloft and the English Housing Survey 2021/22. In this article, we'll explore the key findings related to first-time buyer deposits and trends in the housing market.

The Deposit Dilemma

The £43,693 figure may seem daunting, especially for those entering the property market for the first time. Saving up for such a substantial deposit requires careful financial planning and discipline. It is noteworthy that this is merely the average, meaning that many first-time buyers pay more, while others contribute less.

Income and Deposits

The data reveals an interesting correlation between income and deposit size. Nearly two-thirds (63%) of first-time buyers belonged to the top 40% income bracket. This observation underscores the influence of income levels on the ability to save for a substantial deposit. Higher income individuals tend to have a more substantial financial cushion, making it easier for them to meet the deposit requirement.

Deposit Size Variation

Over two-thirds (68%) of first-time buyers paid less than a 20% deposit when purchasing their first home. A deposit below 20% often means a higher loan-to-value ratio, potentially resulting in higher monthly mortgage payments. This could be a reason for some first-time buyers opting for smaller deposits to secure a property sooner.

On the other end of the spectrum, a fortunate 5% of first-time buyers were mortgage-free. This group either had access to substantial savings, financial support from family, or other means that allowed them to bypass the need for a mortgage. Being mortgage-free provides a significant advantage in terms of long-term financial security and lower housing costs.

Funding the First Home

The majority of first-time buyers (85%) reported that they funded their first home purchase with their own savings. This signifies the importance of disciplined saving and financial planning. A significant portion of these buyers relied on their own financial means to achieve their homeownership dream.

Family and Friends' Support

While most first-time buyers used their savings, 27% received help from family and friends. This support often comes in the form of a gifted deposit or a family member acting as a guarantor, enabling access to better mortgage terms. This assistance can be a crucial step in helping individuals get onto the property ladder.

Inheritance as a Boost

For 8% of first-time buyers, inheritance played a role in making their home purchase possible. An inheritance windfall can significantly expedite the process of buying a first home, providing a financial leg-up for those fortunate enough to receive it.

First-Time Buyers' Impact on the Market

Despite the high costs and challenges associated with buying a first home, first-time buyers accounted for 53% of all home moves in the third quarter of the year. This is the highest proportion in over a year, signalling their continued influence on the housing market. With increasing stability and the likelihood of mortgage rates coming down, it is possible that more first-time buyers will enter the market in the coming months.

The path to homeownership for first-time buyers in the UK is shaped by a range of factors, with the deposit being a significant hurdle to overcome. Income levels, savings, family support, and even inheritance all play a role in helping individuals achieve their dream of owning their first home. Despite the financial challenges, first-time buyers remain a driving force in the housing market, and with favourable conditions, their presence is likely to continue growing in the near future.

Crawley-based agency, Taylor Robinson, clinched the coveted Gold award in both the landlords and tenants categories for the Sussex region. Their outstanding achievement also included securing the title of "Best in Postcode" for both sales and lettings at the illustrious ESTAS Customer Service Awards 2023, sponsored by Coadjute – the most significant awards ceremony in the UK property industry, winning for a third year in a row. The winners were announced at the grandest event in the property sector, held at the Grosvenor House in London and impeccably hosted by the nation's beloved TV property presenter, Phil Spencer, before an audience of 1,000 distinguished guests.

Inaugurated 20 years ago, these awards fuel the ESTAS' own customer review platform, recognizing estate and letting agents for their exceptional customer service, based on feedback from clients who have navigated the complete process with an agent. This year's results were tabulated from an impressive tally of over 300,000 customer reviews.

Phil Spencer, the ever-present host of The ESTAS since their inception in 2003, shared his thoughts with the live audience, saying, "Everyone shortlisted here today has achieved the ESTAS Standard of Excellence, founded solely on service ratings from customers at the culmination of their moving journey. This gives a highly precise portrayal of the service standard provided to the end client. This, in itself, is a remarkable achievement, so whatever unfolds this afternoon, you should all take immense pride in your accomplishment."

Estate and letting agents across the UK were recognized regionally and by postcode. National Grand Prix Awards were also bestowed upon the Best Single Agent Office in sales and lettings.

Ben Marley, Commercial Director at The ESTAS, commented, "When we initiated this, we aimed to create property awards that were truly impartial, with winners selected exclusively based on customer service ratings from actual transactions. Two million reviews and two decades later, ESTAS is now the go-to customer review platform for property professionals and the most prestigious accolade an agent, conveyancer, mortgage broker, or supplier can achieve in the property industry."

Dan Salmons, CEO at headline partner Coadjute, added, "On behalf of the Coadjute team, warm congratulations to all this year's ESTAS winners. We were thrilled to witness such remarkable achievements recognized across the industry. It has been a genuine pleasure to support The ESTAS this year."

Lawrence Taylor, Director of Taylor Robinson, expressed his excitement, saying, "We are absolutely thrilled to be acknowledged in this year's ESTAS. It holds immense significance for us because we recognize that it's our customers who have appraised our performance. We take our commitment to customer service very earnestly, knowing that clients have a choice. We have always taken great pride in delivering on our promise of a personalized service, and this accolade underscores our commitment to that pledge especially as this is the third year we have won."