CW8 – Housing Market Update – March 2019

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Hello, and welcome to my CW8 market update for March 2019. I’ll be producing one of these every month to keep you up to date with exactly what’s going on with your local housing market. Please like and share so other local people can also be kept up to date.

A great way to take a quick snapshot of the market to see how buoyant things are is to compare the percentage of properties that are under offer to the total amount of houses on the market. Currently 41.95% of the total properties on the market in CW8 are under offer – this represents as very healthy market indeed. Most estate agents would kill for this sort of percentage under offer on their own stock.

Going into more detail, I’d like to look back to March 2018 when there were 328 properties on the market in CW8, this is compared to 327 in March of 2019. The market in March 2019 in terms of stock is incredibly similar to the market of 2018 – there were 111 new listings in March 2018 compared to 109 in March of 2019; 81 sales were agreed in March last year compared to 73 this year. Price reductions are also similar with 37 last March and 33 in March this year.

This of course doesn’t tell the full story and it’s important to look in more detail at the housing market and what’s more relevant and important to you as the homeowner is current and latest asking prices, selling prices and how long properties are taking to sell. I’m also going to break this down into the type of property.

The average asking price in CW8 is currently £325,500. Broken down into the two most popular house types in the area, the average detached house is £483,048 and semis are £236,675. It’s very important to compare this to the average selling prices. I’ve looked at the period between January 2018 to January 2019 and the average selling price for detached houses was £338,132 and £320,714 in 2019, for semis the figures are £172,800 and £170,556.

It’s also important to look at how long properties are taking to sell. For the last 12 months, from March 2018 to March 2019 overall properties are taking longer to sell. Broken down into property types, detached houses are taking 23% longer to selland semis are taking 42% longer to sell than in March last year.

In a healthy market such as this, the main reason why properties take longer to sell is overvaluing. I’ve looked at the most reduced properties in CW8 and on the 28th March there were 40 properties which had been reduced since they were first marketed. The average reduction was 9.44% which based on the average CW8 house price of £325,661 means average reductions of around £30,000.

In summary, the CW8 housing market is healthy and buoyant with the property stock totals being incredibly similar to the same period in 2018. Average selling prices are slightly down on the previous year which will have been heavily affected by the amount of new build properties currently in the area. When marketing your property be very wary of estate agents who overvalue simply to get you on the market because asyou can see from the price reduction data, many people have to reduce their asking price before achieving a sale.

Please like and share so other CW8 people can also be kept up to date.

 

 

 

CW6 – Housing Market Update – March 2019

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Hello, and welcome to my CW6 market update for March 2019. I’ll be producing one of these every month to keep you up to date with exactly what’s going on in your local housing market. Please like and share so that other local people can also be kept up to date.

A great way to take a quick snapshot of the market to see how buoyant things are is to compare the percentage of properties that are under offer to the total amount of houses on the market. Currently 30.7% of the total properties on the market in CW6 are under offer – this represents a reasonably healthy market. Most estate agents would be happy with this sort of percentage under offer on their own stock.

Going into more detail, I’d like to look back to March 2018 when there were 217 properties on the market in CW6 – this is compared to 211 in March of 2019. And so it can be seen that the market in March 2019 in terms of stock is incredibly similar to the market of 2018. There were 33 new listings in March last year compared to 25 in March this year; 19 sales were agreed in March last year compared to 14 in March of 2019. The main positive change year on year is that price reductions are slightly down, with 20 last March and only 17in March of this year – this means that agents have priced properties slightly better than they did in the same period last year – very good news for the price sellers will achieve when they sell.

This of course doesn’t tell the full story. It’s important to look in more detail at the housing market and what’s more relevant and important to you as the homeowner is current and latest asking prices, selling prices and how long properties are taking to sell. I’m also going to break this down into the type of property.

The average asking price in CW6 is currently £525,000. Broken down into the two most popular houses types in the area, the average detached house is £633,000 and semis arenearly £316,000. It’s very important to compare this to the average selling prices. For detached houses, in January 2018 the average selling price was £425,300 and in January 2019 it is £511,600 in 2019 – excellent news if you own or are looking to sell a CW6 home.

It is also important to look at how long properties are taking to sell. These figures are for the total time from a property being listed, to being taken off the market and the buyers moving in.For the last 12 months, from March 2018 to March 2019detached houses are taking longer to sell, 17% longer in fact than March last year, yet semis have seen no change in speed of sale at all. Detached houses are currently taking 306 days from going on the market to the buyer moving in and 282 days for semis. Please let me know if you’d like help and tips on how to increase the speed at which your home sells.

But what about the properties that haven’t yet sold? I’ve looked at the most reduced properties in CW6 and today there are 19 unsold properties which have been reduced since they were first marketed. The average reduction is 7.83% which based on the average CW6 house price of £525,000, means average reductions of around £41,100.

In summary, the CW6 housing market is healthy and buoyant and although new listings and sales are down slightly, the average selling price of a detached house is up considerably. This should give you confidence if you are looking to sell your CW6 home. looking at the amount of unsold properties that have been reduced and still not sold.

Please like and share this report so other CW6 people can also be kept up to date.

CW9 – Housing Market Update – March 2019

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Hello, and welcome to my CW9 market update for March 2019. I’ll be producing one of these every month to keep you up to date with exactly what’s going on with your local housing market. Please like and share so other local people can also be kept up to date.

A great way to take a quick snap shot of the market to see how buoyant things are is to compare the percentage of properties that are under offer to the total amount of houses on the market. Currently 40.30% of the total properties on the market in CW9 are under offer – this represents a very healthy market indeed. Believe me, most estate agents would kill for this sort of percentage under offer on their own stock.

Going into more detail, I’d like to look back to March 2018 when there were 303 properties on the market in CW9, this is compared to 311 in March of 2019. The market in March 2019 in terms of stock is slightly different to the market of 2018 where there were 91 new listings in March last year,compared with 64 in March this year, 39 sales agreed in March in 2018 compared to 48 in March of 2019. The main positive change year on year is that price reductions are down,with 35 last March and only 23 this year – this means that agents have priced properties better this March that they did in the same period last year.

This of course doesn’t tell the full story and it’s important to look in more detail at the housing market and what’s more relevant and important to you as the homeowner is current and latest asking prices, selling prices and how long properties are taking to sell. I’m also going to break this down into the type of property to make it more relevant to you.

The average asking price in CW9 is currently £357,400. Broken down into the two most popular house types in the area, the average detached house is £488,000 and semis arenearly £240,000. It’s very important to compare this to the average selling prices. I’ve looked at January 2018 to January 2019 and the average selling price for detached houses in January 2018 was £352,100 and this has risen to £339,500 inJanuary 2019. For semis the figures are £157,231 in March 2018 and £193,000 in March 2019.

It’s also important to look at how long properties are taking to sell. These figures are for the total time from a property being listed, to being taken off the market and the buyers moving in.For the last 12 months, from March 2018 to March 2019 overall properties are selling in a very similar timescale. Broken down into property types, detached houses are onlytaking 6% longer to sell and CW9 semis have actually soldmore quickly than the same time last year – they are selling 16% quicker than in March of 2018.

But what about the properties that haven’t yet sold? I’ve looked at the most reduced properties in CW9 and today there are 46 unsold properties which have been reduced since they were first marketed. The average reduction is 6.94% which based on the average CW9 house price of £357,400 means average reductions of around £25,000.

In summary, the CW9 housing market is healthy and buoyant with the property stock totals being  similar to the same period in 2018. The main difference is the amount of new listings in March of this year which was a lot lower than in the same period last year, however the amount of sales was up. This represents a good opportunity if you are looking to sell as there is less new to the market competition. The average selling price of a detached house is down slightly although the average for a semi is up. But overall for the year, things remain broadly similar in this area. This should give you confidence if you are looking to sell your CW9 home.

Please like and share this report so other CW9 people can also be kept up to date.

WA16 – Housing Market Update March 2019

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Hello, and welcome to my WA16 market update for March2019. I’ll be producing one of these every month to keep you up to date with exactly what’s going on in your local housing market. Please like and share so that other local people can also be kept up to date.

A great way to take a quick snapshot of the market to see how buoyant things are is to compare the percentage of properties that are under offer to the total amount of houses on the market. Currently 35% of the total properties on the market in WA16 are under offer – this represents a healthy market. Most estate agents would very comfortable with this sort of percentage under offer on their own stock.

Going into more detail, I’d like to look back to March 2018 when there were 203 properties on the market in WA16, this is compared with 253 in March of 2019. The market in March2019 in terms of stock is markedly up on 2018 in terms of available properties – this is a really important fact when pricing your house as it means that there is now more competition! In March 2018 there were 48 new listings and there were 46 in March this year so very close. In terms of completed sales, there were 31 sales agreed in March this yearcompared with 33 in March last year. The main negativechange year on year is that price reductions are up, with only10 last March compared with 27 in March this year. This means that agents have been overpricing properties more which always leads to a worse result for the seller.

This of course doesn’t tell the full story. It’s important to look in more detail at the housing market and what’s more relevant and important to you as the homeowner is current and latest asking prices and selling prices and how long properties are taking to sell. I’m also going to break this down into the type of property.

The average asking price in WA16 is currently around£700,000. Broken down into the two most popular housetypes in the area, the average detached house is around £1Mand semis are around £385,000. It’s very important to compare this to the average selling prices, I’ve looked at January 2018 to January 2019 and the average selling price for detached houses was £550,000 and is £647,000 in 2019, for semis the figures are £312,000 last January and £325,000in January 2019. This makes for excellent reading if you own or are looking to sell a WA16 property.

It’s also important to look at how long properties are taking to sell. These figures are for the total time from a property being listed, to being taken off the market and the buyers moving in.For the last 12 months, from March 2018 to March 2019 there has been a significant change in semi detached properties which are taking 23% longer to sell, however detached houses are only taking 1% longer to sell. You should consider these figures depending on what type of property you have and what your desired speed of sale / goal is.

But what about the properties that haven’t yet sold? I’ve looked at the most reduced properties in WA16 and today there are 21 unsold properties which have been reduced since they were first marketed. The average reduction is 6.27%which based on the average WA16 house price of £700,000means average reductions of around £43,900.

In summary, the WA16 housing market is healthy and buoyant. Although there are now more properties on the market in total, the amount of new listings and sales is very similar to March last year. The average selling price of a detached house is up considerably and semis have also seen decent growth. You should have confidence if you own or are looking to sell your WA16 home however, looking at the amount of unsold properties that have been reduced and still not sold, it’s still important to be wary of estate agents who overvalue simply to get you on the market.

Please like and share this report so other WA16 people can also be kept up to date.

Tarporley Property Market vs London Property Market

Anyone would think that national news, especially when it comes to talking about the property market, is just focused on London. In fact, over the last 5 years, the London property market has really manipulated the UK on averages to such an extent that many lenders like the Halifax and Nationwide publish two indices, a national one without London and one with.

Now it’s true the London property market has undergone some quite acute property price falls in recent years. In the upmarket areas of Mayfair and Kensington, the Land Registry have reported values are 11% lower than a year ago, yet in the UK as a whole they are 1.3% higher. Yet look around the different areas and regions of the UK and Northern Ireland, and you’ll see that property values are up nearly 6% year on year, whilst over the same time frame, the East Midlands is 4% up and Yorkshire is 3.7% up. So, what exactly is happening locally in Tarporley and what should Tarporley landlords and homeowners really be concerned about?

Well, to start with, as I have been saying for a while now, property is a long game, and making decisions on the short-term fluctuations is something that could cause a nervous breakdown.

I wanted to look at how Tarporley had performed over the long term, when compared to London and the UK as a whole.  Yet it is hard to compare differing locations when the average value of a property in Tarporley differs greatly to one in the capital.  I decided if I wanted to compare like for like, I needed to see what would happen if I had spent £100 on property in London in 1979 and what would that £100 be worth today, and then do the same exercise for the UK. So, looking over the last 40 years …

See how the growth of that £100 was broadly similar between 1979 and 2007 on all three strands of the graph and then we had the credit crunch drop between late 2007 and 2009? However, after 2009 London went on a different trajectory to the rest of the UK. Whilst Tarporley (and the UK) were generally subdued between 2009 and 2012, London kicked on. All areas of the country had a temporary blip in 2012, yet whilst Tarporley and the UK went up a gear again 2013, London went into overdrive and up like a rocket!

Now you can see London has dipped slightly in the last year, so the hot question for everyone has to be – are price falls likely to spread (as they did in the previous property recessions of 1989 and 2007) to Tarporley and other places in the UK? The Bank of England’s opinion is that a London house price drop is unlikely to be the beginning of a countrywide trend. Looking at the graph again, it can be seen London has been in decline for 2 years, whilst the rest of the country has been moving forward.

So, what does all this mean for Tarporley homeowners and landlords?

Well what happens in London does have an impact, but there are other issues that will have a bigger impact on the local property market. The simple fact is over the last 40 years, we have had 392.9% inflation, yet looking at a typical Tarporley terraced house…

A Tarporley terraced house has jumped in value from an average of £27,184 to £292,500

since 1979 – a rise of 795.1%.

Property has in the long term been a good bet. Yes, we might have some short-term blips and as long as you play the long game – you will always win. In the short term, my concern isn’t over monthly up or down property values, Brexit or another General Election. With property values still rising faster than salaries in many parts of the country, what really matters is how much of householder’s take home pay goes into housing costs as opposed to other spending items. If housing gets too expensive – other things will suffer, like holidays and the nice things in life to spend your money on. Only time will tell!

P.S. Wonder what that Tarporley terraced would be worth if it had gone by London house prices? Here’s your answer – £425,702.

Home Ownership among Wilmslow young people has nearly halved in 20 years

The proportion of 25 to 34-year olds who own their home in Wilmslow has nearly halved in the last 20 years, so what does this mean for all the existing Wilmslow landlords and homeowners together with all those youngsters considering buying their first home?

Well, looking at the numbers in greater detail, in Wilmslow there has been a 45% proportional drop in the number of 25 to 34-year olds owning their own home between 1999 and 2019 .. and a corresponding, yet smaller drop of 21% of 35 to 44-year olds owning their own home over the same time frame.

So, if you were born in the late 1980’s or early 1990’s, the dream of owning a home in Wilmslow has reduced dramatically over the past 20 years as young adults’ wages and salaries are now much lower in relation to Wilmslow house prices. Nationally, average property values have grown by 186.9%, whilst average incomes have only risen by nearly 45%, yet that doesn’t allow for inflation. However, whilst not over the same 20 years (it’s close enough though), the Institute of Fiscal Studies said recently the average British home was just over 2.5 times higher in 2015/6 than in 1995/6 after allowing for inflation; yet the average household income (after tax) of 25 to 34-year olds grew by only 22% in ‘real-terms’ over those 20 years.

Yet, even though property prices are at record highs, on the other side of the coin, the monthly cost of mortgage payments has actually fallen because interest rates have remained low. In 1999, the average mortgage rate paid by UK homeowners was 6.5% whilst today it’s more than halved to 2.6% – a drop of 59%. Many of you reading this will remember the 15% mortgage rates of 1992!

The fact is, mortgage repayments take up a considerably smaller proportion of take home pay, on average, than they did before the Credit Crunch or in the late 1980’s. Although the risk that mortgage rates will increase if the Bank of England put up interest rates might leave some homeowners in a difficult position – hence I might suggest (if you haven’t already) you seriously consider fixing your mortgage rate (remember to take advice from a professional before you do).

Homeownership in Wilmslow by Age – 1969 to today

 

  25-34 35-44 45-54 55-64 65+
1969 51.0% 55.4% 42.4% 39.3% 38.6%
1979 54.9% 68.5% 57.6% 60.6% 50.0%
1989 53.4% 70.9% 73.2% 67.0% 49.6%
1999 46.6% 67.7% 76.1% 80.4% 63.7%
2009 35.5% 58.9% 70.1% 75.5% 72.5%
2019 25.5% 53.5% 66.3% 71.7% 77.2%

 

 

 

 

 

 

 

 

 

 

 

 

As 42.9% of Knutsford Property on the Market is Sold Are there any bargains because of Brexit?

Bargains – well yes and no – and let me explain why. To find a bargain you need to know the ‘market’, yet there is not one ‘property market’ in the UK. In fact, the British property market is split into lots of fragmented pieces and the same goes for the Knutsford property market. In fact it can even come down to two streets adjacent to each other, one street selling extremely well for big bucks whilst properties on the next street can stick and at comparatively lower prices (i.e. if there is a school catchment boundary or differing postcode).

According to Coutts, property values in ‘Prime London’ have dropped by nearly 15% in the last 5 years … yet look closely at those stats and Prime London is considered anything within a 1,500m radius of Kensington High Street above £4.6m – a totally different world to the average property in Knutsford, which is worth just under £490,000 and has risen in value over those same 5 years by 28.0%.

I have noticed that the top end of the market above £750,000 in Knutsford and the surrounding areas is proving a little tougher to shift than a few years ago, yet this can’t all be blamed on that dreaded B word, as buyers have long been flinching at overestimated asking prices and excessive stamp duty rates.

In Knutsford nearly 28% of properties for sale have reduced their asking price in the last 3 months by an average of 7%.

A lot less than the reductions that are being seen in central London. In fact, the property market in Knutsford is looking reasonably good with nearly 43% of properties on the market in Knutsford being shown as under offer and Sold subject to contract.

…Interesting when compared with the aforementioned London Prime market where only nearly 6% of the properties available for sale are sold .. some bargains to be had there!

So, where are the bargains in Knutsford? It’s all about comparing and contrasting property, so to start with, check out the property web-portals such as Zoopla and Rightmove to see what’s for sale. Click on the ‘include Sold stc’ in the filters, then arrange them in price order. You will then start to get a feel for what properties are roughly selling for. Also look at recent sales, so in Rightmove click on ‘House Prices’ on the main menu, on the proceeding drop down menu click on ‘Find Sold House prices’ and now you can type in a street, or even a street plus 0.25miles/0.5miles .. click on ‘List View’ and they are in date order. There is a similar function in Zoopla (feel free to contact me if you need a hand with that).

Once you have found what you think is a bargain .. view it. Ask the agent why the sellers are moving.  By doing your research on the seller, seeing how long it has been on the market, whether they have reduced the asking price — you could cut a better deal if they are compelled to sell. Push home your advantage i.e. if you are a first-time buyer, don’t have a property to sell, chain free or cash purchaser as it can all make a difference.

Looking at the numbers above, some savvy Knutsford landlords and home buyers are taking advantage of the doom and gloom newspaper headlines as property owners’ expectations are probably at the lowest they have ever been since the Credit Crunch, especially if they are in the ‘got to sell’ category instead of the ‘would like to sell’ category.

Like anything in life .. buying a property bargain comes down to putting the hard-work in, doing your homework and jumping at opportunities.

 

How Did Brexit Affect the Wilmslow Property Market in 2018 – and its Future for 2019?

A few weeks ago, I suggested property values in Wilmslow would be between 0.9% and 1.9% different by the end of the year. It might surprise some people that Brexit hasn’t had the effect on the Wilmslow property market that most feared at the start of 2018.

The basis of this point of view can clearly be seen in the number of property transactions (i.e. the number of property sold) that have taken place locally since 2008. The most recent property recession was the Credit Crunch years of 2008/2009/2010.

In property recessions, the headline most people look at is the average value of property. Yet, as most people that sell also go on to buy, for most home movers, if your property has gone down in value, the one you want to buy has also gone down in value so you are no better or worse off. If you are moving up market – which most people do when they move home – in a repressed market, the gap between what yours is worth and what you will buy gets lower … meaning you will be better off.

Yet, most property commentators, including myself, suggest a better measure of the health of the property market is the transaction numbers (i.e. the number of people selling and buying). So, I decided to look at the 2018 statistics, and compare them with the Credit Crunch years (2008 to 2010) and the boom years (2014 to 2017). The results can be seen in the table below.

The Average Number of Properties Sold Per Month Over the Last 10 Years in Wilmslow and Cheshire East
  2008 to 2010 2014 to 2017 2018
Jan 243 469 505
Feb 299 461 443
March 336 667 573
April 363 511 503
May 356 568 540
June 387 676 692
July 413 712 584
Aug 408 685 711
Sept 393 663 524
Oct 385 700 638
Nov 352 618 570
Dec 396 649 634

The fundamental problems of the Wilmslow property market are that there haven’t been enough new homes being built since the 1980’s (and I don’t say that lightly with all the new homes sites dotted around the locality). Also, the cost of buying your first home remaining relatively high compared to wages and to add insult to injury, all those issues are reinforced by the tougher mortgage rules which were introduced in 2014 and the current mortgage market conditions. Assuming something can be sorted with Brexit, in the long term property values in Wilmslow will be constrained by earnings increases with long term house price rises of no more than 2.5% to 4% a year.

To end on, there is little to be lost in postponing a house purchase until there is better clarity on the situation. If it isn’t Brexit it will something else – so just get on with your lives and start living!

 

Tarporley Homeowners 82% More Likely To Live in a Home with 3+ Bedrooms than those that Privately Rent.

The conventional way of categorising property in Britain is to look at the number of bedrooms rather than its size in square metres (square feet for those of you over 50!).

In todays Tarporley property market, the Tarporley homeowners and Tarporley landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time buyers’ and tenants’ wants and needs have changed.

In Tarporley, location is still the No. 1 factor affecting the value of property, and a property in the best neighbourhoods can achieve a price almost 50% higher than a similar house in an ‘average’ area. Nevertheless, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/Semi/Terraced/Flat).

The number of bedrooms for owner-occupiers very much depends on the size of the family and the budget, whilst Tarporley landlords have to consider the investment opportunity. In this article, I have analysed Tarporley’s housing stock into bedrooms and tenure. Initially looking at Tarporley homeowners and then the Private rented sector.

It can quite clearly be seen that Tarporley owner-occupiers tend to occupy the larger properties with more bedrooms. This would be expected due to the demographic of homeowners and people that privately rent.

However, this shows there could be opportunities for Tarporley buy to let landlords to purchase larger properties with more bedrooms to attract tenants requiring properties with more bedrooms. However, before you all go buying larger 4 bed and 5 bed mansions to rent them out, a lot of bigger properties in Tarporley don’t make financial sense when it comes to buy to let.

For numerous years Tarporley buy to let landlords have been the lone buyers at the smaller one and two bed starter homes of the market, as they have been lured by elevated tenant demand and eye-catching returns. Some Tarporley landlords believe their window of opportunity has started to close with the new tax regime for landlords, whilst it already appears to be opening wider for first time buyers. This is great news for first time buyers .. but one final note for Tarporley landlords .. all is not lost .. you can still pick up bargains, you just need to be a lot more savvy and do your homework ..one source of such information with articles like this is the Cheshire Property Blog https://cheshirepropertyblog.com/

As OAP’s set to rise to 1 in 4 of the Northwich Area’s population by 2037 – Where are they all going to live?

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With constant advances in technology, medicine and lifestyles, people in the Northwich area are, on average, living longer than they might have a few decades ago. As Northwich’s population ages, the problem of how the older generation are accommodated is starting to emerge. We, as a city, have to consider how we supply decent and appropriate accommodation for Northwich’s growing older generation’s accommodation needs while still offering a lifestyle that is both modern and desirable.  

 In 1997 in Northwich, around one in every six people (16%) were aged 65 years and over (and the local authority area as a whole), increasing to around one in every five people (21%) in 2017 and it is projected to reach more than one in every four people (28%) by 2037, meaning.. 

 Over the next 19 years, the growth of the over 65 population in Northwich will grow by 33.3% – a lot more than the overall growth population of Northwich of 4.7over the same time frame. 

 In fact, the number of those over 90 is expected to more than double in our local authority from 3,336 (1.0%) in 2017 to 7,388 (2.1%) by 2037.

Looking at Northwich and the local authority as a whole, there is a distinct under supply of bungalows and retirement living (i.esheltered) accommodation. The majority of sheltered accommodation fit for retirement is in the ex-local authority sector whilst the majority of private sector bungalows were built in the 1960s/70s/80s and are beginning to show their age (although that means there is often an opportunity for Northwich investors and Northwich buy to let landlords to buy a tired bungalow, do it up and flip it/rent it out). 

In the medium to longer term, we need to build more bungalows and sheltered accommodation and, if we do that, that won’t only be of benefit to the elderly population of Northwich – it will have a direct knock-on effect to the younger and middle-aged population by unlocking those family homes the older generation homeowners live in.   

There have been 17 Housing Ministers since 1997. No one ever seems to stay in the job long enough to create a consensus and direction in Government Policy on the vital issue of the country’s housing shortage, yet the sound bites and White Papers seem only to focus exclusively on first-time buyers when there is an even more severe and disregarded shortage in suitable housing for the older generation. 

This scantiness affects both mature homeowners trapped in unsuitably big family properties, unable to find smaller bungalows or suitable retirement apartments, whilst the waiting list for Council sheltered accommodation is putting a strain on other aspects of social care. In both circumstances, policy coming (or not coming) out of Government is repressing the supply and type of accommodation mature people desire, need and want, whilst at the same time, increasing the cost (and taxes) for social and NHS care. 

 Maybe we need tax breaks for people to downsize or planning permissions that stipulate bungalows only. Whichever way you look .. there are challenging times ahead for us all.