Current Statistics ►

There are people who feel strongly about whether their home address is on a Road, Street, Crescent or Square and developers often assume that one will attract a higher price than another. To test the theory, we explored 2017 sales data to see whether we could identify any correlation between suffix and price.

  • The average price of a property sold on a "Road" to date in 2017 is £301,950, however there are premium purchase properties elsewhere. To purchase on a “Park” expect to pay a 9% premium while to purchase on a “Place”, “Hill”, or “Garden” could add thousands to your purchase price. Owning a property with no street address at all, added £10,000 to one on a “Road”.

  • At the top end of the budget, just 0.5% of all properties sold this year have been on a “Square”, where the average price is £462,895, a stunning 53% more expensive than a “Road”. But “Road” has kerb appeal for more buyers than any other address, accounting for a substantial 30.7% of all sales this year.

September 2017

After months of hard work, our new website finally went live over the weekend and is looking fantastic! Why not have a good look around and see what amazing new features and information are included. 

www.heather-lay.co.uk

 

 

Natalie took part in the Cancer Research Race for Life Pretty Muddy on Sunday 3rd September. It was "pretty muddy" due to the Cornish Autumn weather, but a brilliant time was had by all and Natalie raised a fantastic total of £183.00 for Cancer Research!

August 2017

h_l_banner

Our new banner has arrived today ready for tonight, and it looks great!! We are proudly sponsoring the Pink Wig event which is part of Falmouth Week and raises funds for vital research projects, the best care for breast cancer patients in Cornwall and a safer future for the next generation.​

July budget changes

July budget changes

Videos GPEA News 11th September 2015

Compared to the Stamp Duty overhaul last time round, the July budget was less dramatic for the housing market but still had a couple of notable changes.

Inheritance Tax

A new “family home allowance” is being introduced, to remove inheritance tax from families whose wealth primarily consists of the home. This adds £175,000 per person to the existing £325,000 IHT allowance.

Like the standard allowance this is transferrable across married couples and civil partnerships to give a total theoretical allowance per couple of £1m.

The “family home” element is important though: since it’s ringfenced, estates with a home valued less than £350,00 (£175,000 per person) cannot transfer that allowance to other assets. That said, it seems unlikely that many £1m+ estates will have a home under the £350,000 limit.

There’s one exception to this: where homeowners downsize to a smaller property they will be able to retain the allowance from their previous residence – effectively the cash they realise from that sale is still protected from inheritance tax.

That’s a welcome move in that it won’t make older homeowners feel they have to stay in larger properties than they need (taking them out of the market for younger families) but still some critics argue that by creating a tax incentive for property over other assets, this may drive up house prices further.

 

Buy to Let Interest Relief

On the flip side to the inheritance tax cut, landlords face a tax increase.

Currently landlords can offset the cost of their BTL mortgage interest against income tax: so a mortgage costing, say, £5,000 per year in interest allows for an extra £5,000 of income to be earned tax-free.

Under new rules that tax relief will be limited to the basic rate of income tax, currently 20%. So landlords paying higher (40%) and additional (45%) rates will end up paying income tax at 20% and 25% respectively on that money, where previously they paid nothing. Basic rate taxpayers will be unaffected.

There’s no need to panic yet though. The change is to be phased in over 4 years, and doesn’t start until 2017. While the precise structure hasn’t been announced yet, clearly the impact is designed to be gradual and give landlords plenty of time to review their options. And after all, there is still that 20% tax relief not available on other investments.

However limiting the tax relief adds strength to the argument that landlords need to keep on top of their funding, and make sure they’re not paying more interest than they need to.

Residential Sales
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3 Church Street, Falmouth
Cornwall, TR11 3DN

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Swingbridge House, Anchor Quay,
Penryn, Cornwall TR10 8GU

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01326 374850

Swingbridge House, Anchor Quay,
Penryn, Cornwall, TR10 8GU

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