Category Archives: Property

Investment, News, Property

Can property hold its own against other real assets offering similar risk and return?

Property is often described as the original alternative to equities and bonds, but over the last decade investors have been drawn to an increasing number of real assets, from communication towers to gas pipelines to toll roads.

CAMRADATA’s latest whitepaper on Real Estate examines if property can hold its own against these rival assets in an environment where socio-economic trends are increasingly shaping its future, and sustainability adding another twist of complexity.

This latest whitepaper offers insights from firms including Edmond de Rothschild, M&G Investments, M J Hudson, Quilter Cheviot and Redington who attended a roundtable hosted by CAMRADATA.

The report explores the challenges real estate faced during the pandemic years, its resilience and the impact of construction delays and rising inflation. It also looks at investing for the future including potential shifts in residential, office and retail because of changing needs, wants and also issues such as legislation to tackle global warming.

 

Natasha Silva, Managing Director, Client Relations, CAMRADATA said, “Many real assets compete to offer pension funds and insurers the same kind of reliable income streams with inflation-linkage that property does.

“Real Estate is also facing socio-economic pressures which are shaping its future, with high street and shopping centres having to adapt to the threat of the internet and the strength of the ‘evening economy’. Both residential and office complexes now have to acknowledge that working from home is not a temporary phenomenon.

“Also, whilst real estate was looked upon as a stable source of revenue, now every extant asset’s energy performance is an issue and every new-build’s social purpose a consideration. Investors are being asked to make society better with their capital.

“Our latest whitepaper offers valuable insight for investors, including where the opportunities and risks may lie in the future, and if property can retain its status as the original alternative to a portfolio of securities.”

 

To read the Real Estate whitepaper please click here.

 

For more information on CAMRADATA visit www.camradata.com

Appointments, News, Property

Dominic Stead appointed as Property Director at retirement rentals brand, My Future Living

One year on from the launch of retirement rentals brand, My Future Living, part of ReSi Property Management Ltd, Dominic Stead has been appointed as Property Director to lead the company in its next growth phase.

Dominic brings to the team in Taunton a wealth of experience to the retirement brand as it aims to make renting in retirement an easy and mainstream option for everyone.

His previous roles include Head of Property and Asset Management at Cheltenham Borough Council involved in the development of Affordable Housing in the borough as well as modernising the way local government utilise their property assets.

Prior to that Dominic spent 17 years with CBRE in Asia servicing clients across commercial agency, property management and investment.; His 20-year tenure in expanding markets also included 3 years as the Asset Manager at Walt Disney working on property strategies to facilitate growth in the region.

My Future Living has a portfolio of over 1,800 one and two bed rental properties in modern, purpose-built retirement communities across the UK that can be rented on assured tenancies. Dominic’s role is to develop the brand and capitalise on the growing numbers of older people choosing to rent.

According to Property Reporter[i] the number of over-50s renting property is rising, with a record-breaking 1.2 million currently in the market. Almost a quarter of the UK population is set to reach 65 or older by 2050, highlighting the potential future demand for retirement properties.

Commenting on his appointment, Dominic said: “I’m delighted to join My Future Living (MFL) at a key time on its journey to becoming a market leader in retirement rentals. We offer affordable, quality rental homes in safe and friendly communities, which meets a major need in the property market”

We make renting an easy and hassle-free later living option so people can really enjoy the next chapter of their lives. I’m very much looking forward to leading the team and scaling the business in what is becoming one of the most dynamic areas of the property market.”

MFL’s parent company Gresham House continues to investment in this vibrant and important sector.

[i] https://www.propertyreporter.co.uk/finance/could-uk-property-be-your-best-investment-in-2022.html

News, Property, Property Buyer News, South East

Professionals find a new home and a better life in Ewell

A professional couple are enjoying more space and a better quality of life after moving from the busy streets of South London to a quiet village in Surrey.

Malcolm Scott, 39, and his wife Eashani, 38, have purchased a new two-bedroom house at Bellway’s Buckthorn Grange development in Ewell.

The couple, whose employers are both based in the capital, were previously renting a one-bedroom flat in Tooting.

Malcolm is a civil servant based in Whitehall, while Eashani is a data analyst who has been working from home since March 2020.

Malcolm said: “It has been a thrilling experience to buy a new house in such a beautiful location, especially for Eashani because this is the first time she has had the joy of owning a home.

“We have everything we need and more at this development because the house came with a garage and a private garden.

“Having lived in a one-bedroom flat for quite a while, we can really appreciate how spacious the rooms are at our new home. And it is so nice to have a house all to yourself.

“Eashani has been working from home since the beginning of the pandemic and now she has a lot more space to make that more comfortable for her. Since she works as a data analyst, it also helps that the broadband speed is much faster here than it was in Tooting.”

As professionals working full time, both Malcolm and Eashani agreed that purchasing a newly built property would be a sound investment.

Malcolm said: “Buying a house is probably one of the best ways to invest your money because the value of the property grows much faster than a bank deposit.

“My father told us never to buy an old house because that would cost more money to make it ready for us to move in. The best thing about buying a newly built house is that it is like a blank slate you can turn into you own.

“The place we were renting in Tooting was an old school that had been converted into a flat, and the energy bills were unreasonably high because the building was that old. We are now saving money on our bills because we bought a new build which is far more energy efficient.”

The couple decided to buy at Buckthorn Grange after visiting the showhome at the development, which is located off Scotts Farm Road, in July last year. They said the fact the house they bought came with a private garage set it apart from the other properties they looked at slightly closer to the capital.

Malcolm added: “In terms of customer support, the sales advisors from Bellway were fabulous from day one. They really cared and worked hard on ensuring that the house was as good as it could be.

“It is amazing how many aspects of the house we were able to customise, and Bellway were very helpful with all the work we wanted to have done before we moved in. They let us choose the oak flooring, the grey tiles, and pretty much everything they fitted in the kitchen.

“We knew we made the right choice as soon as we moved in. You could see that the build quality of the house was excellent, and it had a very nice feeling as you went from one room to the next.”

After moving to Buckthorn Grange, the couple have been enjoying the many advantages of living in Surrey.

Malcolm said: “The location is ideal for going on walks because there are two different parks on either side of our development. It is also much safer to go for a run since there is very little traffic on the streets in comparison to Tooting.

“It is also a lot easier for us to travel now because we can simply bypass the traffic of London which used to add at least two hours to our journey every time we drove somewhere outside the city.”

Malcolm, who commutes to work four days a week from Ewell West station around a 30-minute walk away, added: “The train to London takes around 40 to 50 minutes. The commute may be longer now than it was when we were in Tooting, but it is less difficult and the money we save on the rent makes up for the train fares.

“There is also the better quality of life that comes with the location. Tooting was not just busy in the evenings on Fridays and Saturdays – it was always busy. It’s wonderful to live away from all that road noise because now I can instantly relax as soon as I come home.”

A selection of one and two-bedroom apartments, as well as three-bedroom houses, are currently available at Buckthorn Grange, with prices starting from £310,950.

For more information, call 01737 749667 or visit https://www.bellway.co.uk/new-homes/south-london/buckthorn-grange.

Captions:

  • Malcom and Eashani living in their new home at Bellway’s Buckthorn Grange development, in Ewell
Cardiff, Charity & CSR, News, Property, Sport

Thomas H Wood Supports Whitchurch Heath Cricket Club

LEADING Cardiff estate agent Thomas H Wood is supporting Whitchurch Heath Cricket Club for its 2022 season as a lead sponsor.

The established sales and letting agent, which has offices in Whitchurch and Radyr, is helping the club with financial support to fund day-to-day expenses such as ground maintenance and equipment.

Whitchurch Heath has four Senior league sides and a thriving youth section that runs teams at ages under nine, 11, 13 and 15. They are dedicated to playing competitive cricket in a welcoming, inclusive and social atmosphere in the North Cardiff suburb.

Peter Bryon, Whitchurch Heath Chair, said: “We’re so grateful for the support of Thomas H Wood this season. After a tough two years due to the pandemic, it’s great to see our local club thriving and the players back doing what they love, and that’s thanks to the support of local businesses such as Thomas H Wood.”

Paul Wood, a director at Thomas H Wood, said: “We’re very excited to develop our relationship with Whitchurch Heath, and help support them as they settle back into normality.

“As a business with a long standing heritage in the north Cardiff community, we are committed to supporting community causes and we’re looking forward to watching the teams in action.”

Whitchurch Heath Cricket Club is always interested in connecting with businesses that share its values and can help it deliver on its five-year plan for the future of the club. Find out more at https://whitchurch-heath.play-cricket.com/home.

News, Property, Property Buyer News, South East England News

Homebuilder provides its top five walking locations in Abingdon for National Walking Month

For National Walking Month, Oxfordshire developer David Wilson Homes Southern is offering a list of scenic riverside walks near its Kings Gate and Abbey Fields developments in Abingdon-on-Thames.

National Walking Month – which lasts through the whole of the month of May and is run by health charity Living Streets – aims to get people out into their local area, be active and appreciate all nature has to offer while taking a scenic walk.

This year’s theme is #Try20, and Living Streets is encouraging everyone who is capable to try walking for a minimum of 20 minutes a day for the duration of the month.

David Wilson Homes’ Kings Gate and Abbey Fields developments, both approximately a 20-minute drive from Oxford, are ideally placed for both short and long walks. Whether you’re looking for a stroll along the River Thames to Oxford or a heritage walk through Abingdon itself, you’re sure to find a walk you’ll love in this picturesque area.

For those new to the area, David Wilson Homes has curated a top five list of local walks:

 

Walk along the Thames from Abingdon to Oxford

    • Taking just under four hours at a brisk pace, this walk is for those ramblers who like to make a day of their excursions. The trail starts with a walk through a small wooded area before following the River Thames to Oxford.

Abingdon Abbey Heritage Trail

    • If you’re looking to learn more about the local history, the Heritage Trail is perfect for you. The route takes you past St Nicolas Church, Roysse Court, the old site of Abingdon School, St John’s Hospital, the Abbey buildings and gardens and Barton Court ruins, with the option of walking back along the river. This walk is the perfect way to get to know your local area.

1556 Boundary Walk

    • This walk can be done on your own or as part of a walking tour. Traditionally done on New Year’s Day, this walk takes you around the boundaries as they were when the town was granted its royal charter in 1556. The whole walk will take you about two hours as you walk the three miles from the Market Place to Abingdon Lock.

Abingdon Waterways Walk

    • This eight-mile walk will usually take about four hours to complete and will take you to Culham Lock where you will be treated to the best view of Abingdon. The walk along the Thames path offers a calming waterside ramble, with pubs available along the way for refreshments.

Thrupp Lake

    • On the outskirts of Abingdon near Radley, The Earth Trust have created a walk around Thrupp Lake. The walk around the lake takes an average of 40 minutes and features a boardwalk along the water’s edge and a bird hide where you can watch the local wildlife.

A variety of one, three, and four bedroom homes are available at Kings Gate and four and five bedroom homes are available at Abbey Fields.

More information on the homes at Kings Gate and Abbey Fields can be found by visiting the David Wilson Homes website, or by calling 033 3355 8487.

News, Property

Social and sustainable: why owning can be better than renting for supported housing providers

Supported housing is one of the most vital parts of the social safety net, but also one of the least-well understood. It combines appropriate support services with decent, stable homes for people who need some support to lead independent lives – and so saves a fortune on more expensive acute services. The majority of supported housing consists of homes for older people. Another, smaller segment is classified as Specialised Supported Housing: long-term homes for those with serious disabilities that mean they will likely stay in their housing for many years and may involve specially adapted properties.

But there is also a sub-sector known as ‘Transitional Supported Housing’ (TSH) for vulnerable, working age individuals who need a temporary period of support (usually no more than two years) before they return to a fully independent life. This includes a diverse range of groups – from homeless people and those fleeing domestic violence, to prison leavers and asylum seekers.

Because of the diversity of these needs, and the fact that these groups typically benefit from living in conventional dispersed housing, not institutional settings, TSH is largely provided by local or regional charities that really understand their clients’ needs and their local neighbourhoods. It’s these charities that Social and Sustainable Housing (SASH) works with, by helping them to acquire homes to accommodate their clients in. This might sound like an obvious thing for supported housing providers to do – but it’s not actually how the sector normally works. The organisations that deliver support typically do not own the housing in which their clients live. Instead, they have to find properties to rent – sometimes from housing associations, but increasingly from the private rented sector.

This separation between the providers of support and housing makes sense for Specialised Supported Housing, which typically involves an individual living for many years in the same property, with little or no ability to move. If support and housing are combined, that can leave people trapped in a care arrangement that is not working out, because it’s tied to their permanent home. But the shorter residency periods in transitional supported housing (typically, a maximum of two years) make this point less relevant.

Support providers know that the type and quality of housing is central to the outcomes that can be expected for their clients. For example, ex-offenders who find themselves living in squalid properties located in the wrong part of town will find it harder to move on successfully. Unfortunately, finding the right properties has become harder and harder.

Traditionally, supported housing charities would rent properties from housing associations. Housing associations still own about three-quarters of the roughly 200,000 units of Transitional Supported Housing, with the balance coming from the private rented sector. But regulatory and financial pressures are making it increasingly unattractive for many housing associations to stay committed to dispersed street housing, or to client groups with support needs. As a result, some associations are leaving this sector and selling these homes. Over time, the result will be to leave supported housing charities increasingly dependent on private lets – which are typically more expensive, less secure, and often lower quality. Increasingly, support charities find themselves spending more and more time and resources trying to secure rentals of decent homes over which they then have little control. This is why most SASH borrowers already own at least some of their own housing and would like to own more. It gives them control of quality and location. They can then focus their time and energy on the people they’re there to support, rather than endlessly having to juggle a precarious portfolio of rental properties.

But buying property requires capital, which is not easy to come by for the organisations SASH works with. As charities operating in a tight economic environment, they are unlikely ever to generate much capital from operating surpluses. And since most of them are not registered as housing associations, they don’t qualify for funding schemes that government directs through the housing association sector.

Because they are such shrewd entrepreneurial operators, these barriers have not stopped SASH borrowers from buying at least some of the housing they use to deliver support. They have made use of whatever funding has been available, from conventional mortgage financing to one-off grant programmes. But they are also prudent, and know that conventional property financing arrangements carry risks that might be existential for charities with no shareholders in the background.

This leaves many supported housing organisations stuck. They see increasing demand for their high quality services. They would like to increase the stock of homes that they own, because ownership will improve outcomes for their clients and build their own financial muscle at the same time – it’s both social and sustainable.  But they have not developed 30-year track records by taking inappropriate risks in the property market. As prudent operators they are wary of the risks that go along with most conventional financing options. Social and Sustainable Housing was developed to address this very specific gap in the market, by enabling charities to own homes while investors take the property market risk.

News, Property

How sustainable are the surging UK house prices?

Written by Kunal Sawhney, CEO, Kalkine

When UK households are struggling with the severest cost of living crisis, inflation and house prices are going in tandem in the country. The latest report of Rightmove has revealed that house prices in the UK have surged by a record £55,000 since the pandemic began, and there is no sign of stopping down.

House prices continue to move higher amid a lack of supply, with the average asking price of a property entering the market hitting a fourth consecutive record in May. Rightmove analysis has reported a rise of 2.1% in the asking price from the previous month to £367,501.

The real reason for the surge in housing prices in the UK is the supply-demand mismatch. When compared with the level of 2019, the number of properties available in the market has seen a decline of 55 per cent. That is keeping the housing prices in the opposite direction to the economic growth. Those equity-rich buyers who can afford it are going ahead and re-evaluating their lives and priorities with new living spaces.

Is housing price rise a bubble?

House prices have been on a bull ride for the last two years, but they cannot continue to defy gravity forever. As the economy is all set to slow down, house prices are likely to see a similar reaction. The persistent rise in house prices in the last two years has already created a big hurdle for first-time buyers. The interest rates till now have seen four consecutive hikes from the Bank of England (BoE) and are likely to see a few more hikes by the year-end.

If we go by the latest report, while the average asking price of houses is on the rise, there has been a decline of 14 per cent in the number of buyers contacting estate agents. Though the numbers may still be higher than the 2019 levels, signs of a cooldown have started appearing in the market. Still, it will be far too early to say that it’s a bubble and there is going to be a crash in the housing market.

Will a further hike in interest rate impact the housing market growth?

The biggest factor that can contribute to the slowdown or halt in the housing price rise is a sharp rise in mortgage rates. BoE has raised the base rates to 1 per cent, and there are some market analysts who predict the interest rates to go as high as 3 per cent by next year if the inflation remains at the elevated levels. However, there are others who believe that the base rates may not go beyond 2 per cent. Central banks have very limited tools to tame inflation; either they can raise the base rates and make the borrowing more expensive, or they can suck the excess liquidity from the economy through quantitative tightening. Interest rates are already at a historical high, and quantitative tightening may not be on the central bank’s horizon. There is another factor that can impact housing prices is unemployment. If there is an unexpected rise in unemployment, then the house prices could be under pressure; however, only a modest increase is currently being predicted in the near term.

To sum up, it can be said that though housing demand may have shown some signs of cooling down from the unexpectedly high levels, there is still plenty of momentum existing within the housing market. The number of buyers has not seen a drastic decline, while the buyers inquiring about houses is still significantly higher compared to the pre-pandemic period. Supply remains skewed and people’s quest to move out of apartments in cities to larger houses on the countryside will keep the momentum going for the housing market.

Investment, Property, South East

SASC invests £2.05 million in London-based Peter Bedford Housing Association to expand its housing provision for socially excluded adults

Peter Bedford Housing Association (PBHA), which provides housing and support services to people who have suffered social exclusion in Hackney and Islington in London, has received a social investment loan of £2.05 million from Social and Sustainable Capital (SASC).

Set up in 1971, PBHA is a Registered Provider (Housing Association) and provides housing with support and access to community activities, training and employment for people who have suffered from social exclusion.

Using the loan from SASC’s Social and Sustainable Housing (SASH) fund, PBHA will expand its housing portfolio and support services into the neighbouring borough of Newham, with plans to purchase 12 one-bedroom flats to house single adults who have been homeless, face challenges through mental ill-health, drug, or alcohol misuse. The loan will also enable them to attract funding from Greater London Authority’s Rough Sleeping Accommodation Programme, so they can operate a recovery service to support people to sustain their tenancies, integrate within their local community and access support services.

This includes employability and skills support already offered by PBHA in Hackney and Islington to develop skills, help people access volunteering opportunities and progress into employment.

PBHA’s aim is to prevent people from returning to the streets and ensuring people at risk of returning to rough sleeping can get the support they need to move on to live independently.

 

Clare Norton, CEO, Peter Bedford Housing Association said: “We are delighted to be working together with SASC and the GLA to house more people in Newham who so urgently need a secure home. The homes will give people a solid base to continue their recovery journey, to forge their lives away from homelessness, and build their stake in society. This is our first new development of homes in over 20 years, and we are overjoyed to realise this element of our vision. We look forward to exploring further opportunities to provide more homes for homeless people across North East London.”

 

Ben Rick, Co-Founder and CEO of SASC said, “This is our first SASH investment in London, and we hope the first of several. PBHA is a very proactive housing association, and it has already purchased properties using the loan.

 

Peter Bedford wants to provide tenants with good quality homes at affordable rents, and great support services which are so vital to helping them get back on their feet and resume their lives – and this loan will support these important goals.”

PBHA is the 14th charity to receive funding from SASH, which is a unique financial product designed with and for the social sector. It is neither a mortgage nor a lease but enables social sector organisations to own their own properties, giving them the flexibility to allow them to best serve their clients.

Deputy Mayor for Housing and Residential Development at the GLA, Tom Copley, said: “Providing more genuinely affordable homes is a priority for the Mayor and me. I am delighted that City Hall has been able to fund this exciting project giving much-needed housing and support to the Londoners who need it most.”

For more information about Peter Bedford Housing Association visit: www.peterbedford.org.uk

For more information on SASC visit www.socialandsustainable.com

Construction, Property

Why Building Your Own Home Could Be Cheaper

With house prices increasing as much as they have recently, it is not surprising that people are more likely to think outside the box when it comes to owning property than ever before. Many of them are choosing to build their own homes rather than buy older properties and they are citing cost as one of the main reasons for this. Here is why building your own home could be cheaper.

Stamp Duty Land Tax

Stamp duty land tax is a tax paid on the purchase of property or land. You pay this as a percentage of your buying price. Therefore, the larger your purchase price, the more tax you will pay. It is a lot more expensive to buy a property and land rather than buying some land and then building on it. This means that you save yourself a lot of money in tax before you even get started.

You Can Build the Property to Suit Your Own Needs

Most properties are built for the majority, meaning that they are all fairly standard, but if this doesn’t suit you, it can be cheaper to build your own property rather than buy one. You may not need the same amount of space upstairs as you do downstairs if you enjoy entertaining for example, or you may want your dog to have their own facilities that aren’t included in a standard house. Being able to build a property that suits your own needs can be cheaper than buying a bigger home than you need to just to benefit from a few of the features.

You Don’t Need to Remodel

The chances are you will need to compromise a lot if you buy a home rather than build one and this can be costly. You might love the floor space and the location of your new home but if you hate the décor, the bathrooms are old, and you can’t work well in that kitchen, then you will need to do a lot of remodelling to create a home you can actually enjoy living in. That is on top of the cost of buying the property in the first place.

If you build your own home, you can take care of these issues by building your home exactly the way you want to. You can come up with your own ideas or research house building online. Look at 24 Housing to get some great ideas about building your own home and designing it to meet your needs. This is the UK’s best resource for planning, designing, and building your own home.

It Can Be Easier to Budget

If you are buying a home, you can be at the mercy of the seller’s asking price. Sure, you might be able to negotiate yourself a slightly better deal but at best you will only save yourself a small amount. This might mean that you have to go over your budget to get the house you want even after you have made compromises.

It can be easier to budget when you are building your own home if you are careful. Setting yourself a budget and sticking to it might not be easy but with enough research and planning, it doesn’t need to be too stressful.

You can negotiate the cost of the land, especially if you haven’t got a lot of competition, although this might be easier with some plots than with others.

You can do a lot of the building work yourself to save yourself the cost of labour. This can be a great experience and by the end of it you would have learned a lot. You will also have the satisfaction of knowing that you own a home that you built with your own hands to your own design. What could be more special than that?

You have a lot more buying power than you might think when it comes to buying materials and you shouldn’t be afraid to ask for discounts if you are buying in bulk. It can be cheaper to source your own materials rather than have the builders supply them because big building companies tend to have their own preferred suppliers that can be more expensive.

You should get several quotes for any work you are going to need to hire tradespeople for and don’t be afraid to negotiate although you should bear in mind that you get what you pay for, and the builders might feel more incentivised if they think they are getting a decent deal.

The ability to negotiate in several different areas gives you a lot more room to manoeuvre than if you a buying a house.

You Can Build the Property to Last

A professional house builder knows that their building must last for at least ten years as it will be under guarantee for this time. After that, they are no longer liable for any repairs. This can work out expensive, especially if you are buying a new build and you need to do a lot of work on the property once it is over ten years old.

If you build your own home, you can choose better quality materials and make sure that your home is built to last. Don’t be tempted to buy the cheapest material on offer to save you money as this could cost you a lot more in the longer term, especially if you plan on staying in the home for a while as you may need to carry out repairs. Instead, opt for the best quality that comes in on budget and you know you are getting a cheaper home that will last for a long time and saving yourself time and money on repairs.

There are many different ways to save money if you are building rather than buying a home. House building can often suit people who are happy to think outside the box and create something for themselves. If you don’t mind a bit of hard work, you could save yourself a considerable amount of money.

Construction, Midlands News, News, Property

Northstowe’s low carbon homes prove a draw as energy prices soar

Concerns about rising energy prices are encouraging even more people to move to the eco-friendly Cambridgeshire new town of Northstowe, according to a leading housebuilder at the site.

Vistry Group, which includes the Linden Homes and Bovis Homes brands, has seen a surge in enquiries at its developments from buyers keen to benefit from the low carbon lifestyle available at Northstowe.

Government figures show that homeowners currently living in a Victorian property would save an average of £1,438 a year on their energy bills by upgrading to one of the ultra-modern energy efficient homes at Linden Homes’ The Boulevards.

Hannah Dorner, senior sales manager at Vistry East Midlands, said: “Due to modern construction methods, new-build homes are typically more energy efficient than older properties, but at Northstowe, our homes are even greener.

“These highly insulated and draught-proof properties come with modern heating systems and high-performance glazing, resulting in carbon dioxide emissions that are, on average, up to 20 per cent lower than other new-build properties of a similar size.

“Figures also show that the homes at The Boulevards are producing nearly seven times less carbon dioxide emissions than their comparative Victorian counterparts.”

The SAP (Standard Assessment Procedure) ratings, which were brought in by the Government to assess and compare the energy and environmental performance of new-build properties, has calculated that the average predicted yearly energy bill would be an estimated £350.63 for a three-bedroom Elliot home at The Boulevards, whereas the same bill for a three-bedroom Victorian property would be an estimated £1,789.23.

Hannah said: “With gas and electricity prices soaring over recent months the appeal of living in a modern, low-carbon home has never been greater.

“While Northstowe’s green credentials already make it a popular location for housebuyers in Cambridgeshire, we have seen an increase in demand at our developments from buyers keen to prioritise energy efficiency in the face of ever-rising bills.”

For more information about Bovis Homes and Linden Homes properties at Northstowe, visit bovishomes.co.uk or lindenhomes.co.uk/eastmidlands.