14th July 2022 • The HERALD • Page 65 v GET MOVING WITH THE HERALD v PRO-ACTIVE HONEST RELIABLE TRUSTED hytheandwaterside.com Sales: 023 8084 5434 • Lettings: 023 8084 5096 Register your property to HOLIDAY LET, 10%+VAT, no tie ins. No let, No fee. Book a GETAWAY Looking for a holiday property locally for family? HYTHE - NEW FOREST - ISLE OF WIGHT Income generally 4x that of a residential let! You get to stay for FREE too. Need help and advice? Call Tina on: 07368 177843 v ON THE HOME FRONT v Homeowners are pocketing more per hour from the rise in value of their properties than they are earning from salaries, it can be revealed. Analysis shows house prices soared by almost £10 an hour in many regions last year due to an explosion in the housing market. Details of the surge in house-price in ation have emerged via newly released research conducted by House Buy Fast. e property rm has also created a free-to-use Price Earnings Calculator which lets users see just how much their home has risen in value over the past year. By using up-to-date price data, buyers and sellers can also track any changes and see the impact of change by the year, week, day and even working hour. And its data shows many homeowners are now routinely clocking up more each hour through the rise in the value of their property than they do by clocking on for work. According to the Price Earnings Calculator people living in a property worth £289,099 - which is the current UK average - can expect to have seen their value increase by at least £19,842 over the past 12 months. at breaks down to £9.88 an hour, £79 a day and nearly £400 a week. Meanwhile, the millions of Brits who now live in properties worth £425,000 have seen their value rise by almost £30,000 a year. at is the equivalent of £560 a week which, according to the O ce of National Statistics, is higher than the current average weekly wage. And those who own properties worth between £850,000 to £1m will have seen values rise at more than double the rate of the national average weekly wage over the past 12 months. Commenting, Jonathan Rolande, the founder of House Buy Fast, said: “The house price surge over the past couple of years has been truly staggering. And this calculator lays bare just how remarkable some of the regional increases have been. In very many cases homeowners are now earning far more an hour through the value of their property increasing than they are by going to work. To see house prices rising faster than the rate of wages in this way is bittersweet. On one hand it underlines, once again, the strong position those owning their own home now find themselves in. But on the flip side it shines a light on the struggle many trying to enter the market face. With house prices rising higher than the rate of wages, many young people will now really struggle to get on the ladder, especially during a cost of living crisis. That’s why it’s vital we see effective Government policies designed to boost people’s chances of owning a property.” e Price Earnings Calculator works by compiling Land Registry data linked to millions of UK homes. It compares how prices have risen in that area with rates of pay which are based on O ce of National Statistics gures. In March gures showed that house price rises had outstripped wage growth in more than 90% of England and Wales. Last month it was reported that the average UK house price hit a fresh high, rising for the 11th month in a row. House prices increased by 1% between April and May, or £2,857, taking the average price of a home to a record of £289,099. While annual house price growth remains at the elevated level of 10.5%, this is the slowest rate of growth since the start of the year. e Price Earnings Calculator can be found at: www. housebuyfast.co.uk/PEC WHO EARNS MORE - YOU OR YOUR HOUSE? NOW YOU CAN FIND OUT is character property is situated in the centre of Hythe Village and was originally built in 1840 as a shermans cottage. e property bene ts from a sitting room with woodburner, 3 bedrooms, shower room, kitchen, UPVC double glazing and enclosed rear garden. e property is situated close to Hythe Village Centre with its excellent range of shops and frequent passenger ferry service to Southampton City Centre. Other local amenities including schools, churches, medical centres, activity centres and the open New Forest are close by. Sailing and wind sur ng in Southampton Water. Southampton City Centre is easily accessible either by road or via the frequent passenger ferry service from Hythe Pier. e property comprises sitting room, dining room, kitchen and shower room on the ground oor; 2 bedrooms on the rst oor and another bedroom on the second oor. Outside the rear garden is laid to lawn with shrubs to borders. Brick built storage. O ered at £300,000withNOCHAIN. An internal viewing is highly recommended. To book an appointment call Pearsons on 023 8084 4131 or visit: www.pearsons.com Character Propety in Hythe
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