How This Wind Farm Project Overcame NIMBY Opposition
To overcome community opposition, the governing council on Lewis managed to address environmental concerns about damaging fragile landscapes and bird populations, as well local skepticism about the project's economic benefits. Revenue from wind turbines has been used to help subsidize a local grocery store, fund college scholarships and even provide direct cash handouts to residents.
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Yahoo
21 minutes ago
- Yahoo
Children often having say in home move choices
Three-quarters (74%) of families say their children have a say over final housing choices during the home moving process, a survey has found. Men (32%) are more likely than women (25%) to take the lead on the home moving process itself, according to the research, commissioned by Zoopla. Male movers are more likely to take the lead in setting a budget (33% versus 19%), deciding on the mortgage (34% versus 17%) and arranging conveyancing (38% versus 24%) than women, the survey indicated. Men also tend to lead in negotiations, with 36% taking charge of the house price negotiations compared with 20% of women. Women are more likely to voice a dislike or reject a property (57% versus 43%) than men, the research found. When it comes to making compromises, 31% of men feel they more frequently make concessions, versus 25% of women. Zoopla commissioned Opinium to survey 2,000 adults across the UK in July and August who live with someone else in their household and have made at least one house move. Daniel Copley, a consumer expert at Zoopla, said: 'For a significant portion of the market, the family home is truly a family decision. Understanding these nuanced dynamics is invaluable and it underscores the importance of open communication for a smoother, happier house hunt.' Nigel Bishop, founder of buying agency Recoco Property Search, said that, in particular: 'Families with young children, who would spend their childhood and teenage years growing up at the property, value the opinion of their offspring.' Mary-Lou Press, an estate agent and president of NAEA (National Association of Estate Agents) Propertymark said: 'A home move can have a huge impact on an entire family, such as school, college and university relocations, as well as longer commutes to a place of work – a move needs to be right for everyone. 'Therefore, it is positive to see that the children of many families are playing a key role in the final decision-making process for their next family home, which is more likely to lead to a happier and more successful future for everyone involved. 'Personally, in my professional opinion, I have noted that women tend to lead the general home buying and selling process.'
Yahoo
21 minutes ago
- Yahoo
Less available places to rent could see prices rise ‘by at least 25%', report says
The lack of fresh rental home supply in the UK could see prices rise over the next three months by 25 per cent, a new report has said. It comes as the flow of fresh rental properties coming to market has fallen at its fastest rate in five years, according to surveyors. Thirty-one per cent of surveyors saw new instructions from landlords falling rather than rising, which was the weakest reading since April 2020, the Royal Institution of Surveyors (Rics) said. With less rental properties in the pipeline, prices are anticipated to continue to rise over the next three months by a net balance of 25 per cent, the report said. Despite the 'firmly negative trend' in landlords making their property available for rent, tenant demand held steady in the three months to July, the report added. Looking at the sales market, new home buyer inquiries fell back in July, the report said. A net balance of 6 per cent of property professionals reported new buyer inquiries falling rather than rising in July, indicating a softening in demand compared with the previous month. In June, a net balance of 4 per cent of professionals had seen a rise in fresh inquiries from buyers. The report said that results across different areas appear to be increasingly variable, with relatively weaker demand trends reported in East Anglia, the South East and the South West of England. Sales fell in July, with a net balance of 16 per cent of professionals seeing falls, deteriorating further from a balance of 4 per cent who noted falling sales in June. Looking ahead, those surveyed expect to see little change in sales over the next few months, with a more positive outlook for 12 months ahead. A net balance of 8 per cent of professionals expect to see a pick-up in sales in the year ahead. A net balance of 9 per cent of survey participants saw an increase in the flow of new property listings coming onto the market in July. The latest survey also pointed to a small downward direction in house prices, with a balance of 13 per cent of professionals seeing prices fall. This compared with a balance of 7 per cent seeing price falls in both May and June. Going against the broader trend, prices continue to rise typically in Northern Ireland and Scotland, while professionals based in the North West of England are also seeing prices move higher, the report said. At the other end of the spectrum, prices are reportedly falling at a more significant rate than the national average across East Anglia, Rics added. Rics chief economist, Simon Rubinsohn, said: 'The somewhat flatter tone to the feedback to the July Rics residential survey highlights ongoing challenges facing the housing market. Although interest rates were lowered at the latest Bank of England meeting, the split vote has raised doubts about both the timing and extent of further reductions. 'Meanwhile, uncertainty about the potential contents of the Chancellor's autumn budget is also raising some concerns. Against this backdrop, respondents continue to report that the market remains particularly price sensitive at the present time.' Sarah Coles, head of personal finance, Hargreaves Lansdown said: 'The green shoots of recovery that agents were hopefully nurturing in June have dried up in July, with demand falling, fewer agreed sales, and a slight drop in house prices. The market always falls quiet during the summer holidays, but this is even more of a deathly hush than usual.' She added: 'We're firmly in a buyers' market right now, so there is a real chance to bag a bargain. For anyone who had been tempted to dip into their emergency savings to boost their budget, this is a chance to regroup.' Ms Coles said: 'With tenant demand remaining steady, yet again it means more people chasing fewer homes, and the era of runaway rents isn't over yet. 'The HL (Hargreaves Lansdown) savings and resilience barometer shows this is incredibly tough on everyone – so the average renting household has just £62 left at the end of the month. However, it's particularly horrible for renters living on their own – who end the month with a paltry £24. There's every sign that an awful lot of them have been pushed as far as it's possible for them to go. 'When money is so tight, it's incredibly difficult to cover your costs, let alone put anything aside for a property deposit. However, if you can't build anything at all, there's a risk you'll be locked into a cycle of ever-increasing rents. 'It means it's worth considering all your options. This can include anything from making major compromises on where you live to moving back home for a period. There are also options that don't require any of these sacrifices, such as asking family for help, or giving your deposit a boost from the Government through a Lifetime Isa.' Tom Bill, head of UK residential research at Knight Frank, said: 'The housing market is hitting a series of hurdles this year. April's stamp duty cliff edge was the first and now buyers and sellers are increasingly unsettled by a re-run of last year's game of 'guess the autumn tax rise'. 'We had an interest rate cut this month, but it was priced in and the wider economic mood remains fragile. Supply still notably outstrips demand, which is also keeping a lid on prices.' On Wednesday, financial information website Moneyfacts said that the average two-year fixed-rate mortgage on the market had dipped below 5 per cent for the first time since before former prime minister Liz Truss's so-called mini-budget in September 2022. Moneyfacts said the average two-year fixed homeowner mortgage rate on Wednesday was 4.99 per cent. This was down from 5.00 per cent the previous working day. Jeremy Leaf, a north London estate agent, said: 'Agreed sales are mostly holding, supported by falling mortgage rates and a stable employment environment.' On the lettings sector, Mr Leaf said: 'We noticed that demand has dropped over the past month or so, especially for two-bed flats in older buildings, with more interest in modern, lower maintenance properties.'
Bloomberg
24 minutes ago
- Bloomberg
More Estate Agents Are Reporting Falling House Prices, RICS Says
Falling house prices are more widespread than at any time for a year as fears of tax rises and a bleaker economic outlook weigh on demand, a survey of UK estate agents found. The Royal Institution of Chartered Surveyors said its indicator tracking home values dropped six percentage points to minus 13 last month, the worst reading since July 2024. Agents expect home values to 'remain under a small degree of downward pressure' in the coming three months.
