Latest news with #SkiptonGroup
Wales Online
10-07-2025
- Business
- Wales Online
The hardest place to buy a house in Wales where the average price is £257,318
The hardest place to buy a house in Wales where the average price is £257,318 House prices across Wales have risen sharply, but local wages haven't kept up Colourful houses in Aberaeron, Ceredigion (Image: Getty ) You have probably noticed that property prices have soared over recent years, which might be good news to some home owners, but makes things slightly tricky if you're a first time buyer. Wales is also now home to some of the least affordable places in the UK for first-time buyers, with five Welsh areas appearing in the top ten hardest places to get on the property ladder according to the Skipton Group Home Affordability Index 2025. In Ceredigion and Powys, only 2.7% of people can afford the average first-time buyer home which is even less than in parts of London. Affordability is also proving to be a widespread issue across both rural and urban parts of Wales with Cardiff, the Vale of Glamorgan, and Monmouthshire also featuring on the list. This is significant because house prices in Wales have risen sharply, but local wages haven't kept up. Love dreamy Welsh homes? Sign up to our newsletter here As a result, many people who live and work in these areas will likely be priced out of their own communities. In Ceredigion, house prices have sold for an overall average of £257,318 over the last year. Article continues below Currently, there is a 25% extra charge on top of the normal level of council tax for second homes and long-term empty properties in the county, which locals have said for many years has been a recurring problem. And in 2023, Ceredigion County Council consulted with residents and stakeholders on what level of council tax premiums should be charged on long-term empty properties and second homes in Ceredigion. However, it was found that 'increasing Council Tax premiums would not result in the desired outcomes' was a prevalent theme throughout the comments. Just over half of these comments noted that an increase would not improve the availability or affordability of homes according to the council. And in Powys, houses have sold for an overall average of £273,537 over the last year according to Rightmove. It was described as "virtually impossible" in 2021 for first time buyers to purchase a property here, and judging by the data it looks as though little has shifted. The Powys County Times reported: 'Plaid Cymru councillor for Glantwymyn Elwyn Vaughan noted that issues such as rising second-home ownership in Mid-Wales beauty spots are making it virtually impossible for first time buyers from Powys to own their own home, after new figures provided by HM Land Registry and the Office for National Statistics showed the average property price in the county is now £206,656, a huge 8.2 times greater than the average median salary of £25,197.' The Home Affordability Index notes: 'First-time buyers face a particularly challenging situation, with only 11.5% of potential first-time buyers able to afford to get onto the property ladder based on their own financial situation, and in certain local authority areas the challenge is far more acute. 'The Home Affordability Index shows that upcoming reforms to first-time buyer stamp duty relief and the continued freezing of LISA thresholds are limiting the ability of first-time buyers to benefit from these policies. 'This report provides important new analysis that can help shape the policy debate around the design of these policies.' Support available for first-time buyers in Wales The Help to Buy Wales scheme serves as a valuable support option, providing an equity loan of up to 20% of the cost of new-build homes priced up to £300,000. The Tai Teg scheme also aims to increase access to affordable housing, including properties available for purchase, and may offer help with buying homes on the open market. Another useful option is a Lifetime ISA (LISA) which is a government-backed savings account designed to help first-time buyers save for a home. You can deposit up to £4,000 each year and the government adds a 25% bonus on top - up to £1,000 annually. The funds including the bonus can be used towards the purchase of your first home worth up to £450,000. Have you got a story you want to share about buying your first home in Wales? Feel free to get in touch: Article continues below
Leader Live
12-06-2025
- Business
- Leader Live
Homeowners favour kitchens and bathrooms over eco upgrades
The study of 2,000 property owners found more than half are prioritising cosmetic makeovers because they believe it adds more value and offers instant gratification. Many would rather splash out on a new kitchen (48 per cent) or bathroom suite (39 per cent) than invest in insulation (19 per cent) or energy-efficient heating systems (31 per cent). And 43 per cent admit they opt for these flashy upgrades simply because they want something new to enjoy – with 16 per cent confessing they just love the thrill of a fresh home feature. (Image: Skipton Building Society) While 53 per cent said energy-efficient improvements just don't give them the same buzz as a swanky new renovation. The research, commissioned by Skipton Building Society, part of the Skipton Group, coincides with the release of The Big Retrofit report, which follows the energy efficiency transformation of a previously fossil-fuel reliant home. The report, developed with Leeds Beckett University and the University of Leeds, reveals how the retrofit of a typical 1930s detached home – featuring triple glazing, solar panels and an air source heat pump – cut carbon emissions, improved comfort, and boosted the home's EPC rating from D to B. Phil Spencer, TV star, property expert and Move iQ founder, said: 'It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most Instagrammable. 'Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home.' But it seems a new kind of 'keeping up with the Joneses' is sweeping through Britain's streets and cul-de-sacs – and this time, it's all about going green. More than a quarter (28 per cent) now say they know a neighbour who's made big low carbon technology or energy efficiency related changes to their home – and 53 per cent of these have been inspired to follow suit. As a result, 48 per cent have looked into getting solar panels, 24 per cent have explored upgrading their loft insulation – and 15 per cent would consider installing triple glazed windows. For 38 per cent, it was hearing their neighbours had managed to cut their energy bills that got them interested. Another 36 per cent said seeing what was actually possible gave them a lightbulb moment, while 30 per cent felt more confident after seeing the results up close. Almost half (47 per cent) of all homeowners now reckon making eco improvements has become a modern-day status symbol, according to the research conducted by OnePoll. Charging an electric car on the drive is seen as one of the leading signs you've 'made it' (32 per cent) – followed by underfloor heating powered by renewables (28 per cent) and having a heat pump (25 per cent). Michaela Wright, head of group sustainability at Skipton Building Society added: 'This research suggests we may be seeing a shift from 'keeping up with the Joneses' to 'greening up with the Jones'. 'As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. 'There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. 'The idea of a modern status symbol is evolving, and now things like solar panels, heat pumps and electric cars are part of that. 'It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. 'We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. 'That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project. 'We've documented our experience and created a series of resources, to support others who are considering making similar improvements.'
Glasgow Times
12-06-2025
- Business
- Glasgow Times
Homeowners favour kitchens and bathrooms over eco upgrades
The study of 2,000 property owners found more than half are prioritising cosmetic makeovers because they believe it adds more value and offers instant gratification. Many would rather splash out on a new kitchen (48 per cent) or bathroom suite (39 per cent) than invest in insulation (19 per cent) or energy-efficient heating systems (31 per cent). And 43 per cent admit they opt for these flashy upgrades simply because they want something new to enjoy – with 16 per cent confessing they just love the thrill of a fresh home feature. (Image: Skipton Building Society) While 53 per cent said energy-efficient improvements just don't give them the same buzz as a swanky new renovation. The research, commissioned by Skipton Building Society, part of the Skipton Group, coincides with the release of The Big Retrofit report, which follows the energy efficiency transformation of a previously fossil-fuel reliant home. The report, developed with Leeds Beckett University and the University of Leeds, reveals how the retrofit of a typical 1930s detached home – featuring triple glazing, solar panels and an air source heat pump – cut carbon emissions, improved comfort, and boosted the home's EPC rating from D to B. Phil Spencer, TV star, property expert and Move iQ founder, said: 'It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most Instagrammable. 'Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home.' But it seems a new kind of 'keeping up with the Joneses' is sweeping through Britain's streets and cul-de-sacs – and this time, it's all about going green. More than a quarter (28 per cent) now say they know a neighbour who's made big low carbon technology or energy efficiency related changes to their home – and 53 per cent of these have been inspired to follow suit. As a result, 48 per cent have looked into getting solar panels, 24 per cent have explored upgrading their loft insulation – and 15 per cent would consider installing triple glazed windows. For 38 per cent, it was hearing their neighbours had managed to cut their energy bills that got them interested. Another 36 per cent said seeing what was actually possible gave them a lightbulb moment, while 30 per cent felt more confident after seeing the results up close. Almost half (47 per cent) of all homeowners now reckon making eco improvements has become a modern-day status symbol, according to the research conducted by OnePoll. Charging an electric car on the drive is seen as one of the leading signs you've 'made it' (32 per cent) – followed by underfloor heating powered by renewables (28 per cent) and having a heat pump (25 per cent). Michaela Wright, head of group sustainability at Skipton Building Society added: 'This research suggests we may be seeing a shift from 'keeping up with the Joneses' to 'greening up with the Jones'. 'As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. 'There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. 'The idea of a modern status symbol is evolving, and now things like solar panels, heat pumps and electric cars are part of that. 'It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. 'We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. 'That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project. 'We've documented our experience and created a series of resources, to support others who are considering making similar improvements.'
North Wales Live
09-06-2025
- Business
- North Wales Live
Brits more interested in home makeovers than making them energy-efficient
A recent survey of 2,000 homeowners discovered that more than half are favouring aesthetic enhancements such as kitting out with a swanky new kitchen or bathroom suite over energy-saving measures, because they feel these refurbishments add more value and grant instant gratification. Many are opting to splurge on glamorous home updates rather than investing in insulation or efficient heating systems. As revealed by the study organised by Skipton Building Society, part of the Skipton Group, a substantial number of property owners admit that eco-friendly improvements lack the allure of a luxurious makeover, with 16 percent confessing their love of a new home feature. This insight accompanies the release of The Big Retrofit report, which details the energy efficiency overhaul of a home previously dependent on fossil fuels. The report, a collaboration between Leeds Beckett University and the University of Leeds, demonstrates how retrofitting—a process of upgrading a building to improve its energy performance—has increased comfort and progressed the EPC rating of a typical 1930s detached house from D up to B. Phil Spencer, the TV favourite and founder of Move iQ, offered his perspective: "It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most 'Instagrammable'." To emphasise the long term benefits, he further mentioned: "Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home." A recent survey shows that over a quarter of people in the UK know someone who has made eco-friendly home improvements, with 53 per cent feeling encouraged to follow suit. As a result, interest in green technology is growing, with 48 per cent considering solar panels and 24 per cent exploring better loft insulation, while 15 per cent would think about fitting triple-glazed windows. For 38 per cent of homeowners, learning about the reduced energy bills neighbours enjoyed was the catalyst for their own interest. The report found that nearly half of the homeowners now see making sustainable upgrades as a mark of success in today's world. Being able to charge an electric vehicle at home, having underfloor heating powered by renewable sources, and owning a heat pump are now seen as top indicators of having 'made it'. Michaela Wright, head of group sustainability at Skipton Building Society, commented: "As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. "There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. "We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project.
Wales Online
09-06-2025
- Business
- Wales Online
Brits more interested in home makeovers than making them energy-efficient
Brits more interested in home makeovers than making them energy-efficient A study of 2,000 homeowners revealed that over half are prioritising aesthetic upgrades as they believe it adds more value to their property. Home owners confess energy-efficient upgrades don't provide the same excitement as other renovations (Image: Getty Images ) A recent survey of 2,000 homeowners discovered that more than half are favouring aesthetic enhancements such as kitting out with a swanky new kitchen or bathroom suite over energy-saving measures, because they feel these refurbishments add more value and grant instant gratification. Many are opting to splurge on glamorous home updates rather than investing in insulation or efficient heating systems. As revealed by the study organised by Skipton Building Society, part of the Skipton Group, a substantial number of property owners admit that eco-friendly improvements lack the allure of a luxurious makeover, with 16 percent confessing their love of a new home feature. Homeowners would prefer to upgrade their bathrooms (Image: Getty Images ) This insight accompanies the release of The Big Retrofit report, which details the energy efficiency overhaul of a home previously dependent on fossil fuels. The report, a collaboration between Leeds Beckett University and the University of Leeds, demonstrates how retrofitting—a process of upgrading a building to improve its energy performance—has increased comfort and progressed the EPC rating of a typical 1930s detached house from D up to B. Phil Spencer, the TV favourite and founder of Move iQ, offered his perspective: "It's easy to get caught up in choosing statement tiles or bold paint colours, but the most valuable home improvements aren't always the most 'Instagrammable'." Article continues below To emphasise the long term benefits, he further mentioned: "Green upgrades not only save money in the long run, but they can also boost comfort, value and sustainability, all without spoiling the look of your home." A recent survey shows that over a quarter of people in the UK know someone who has made eco-friendly home improvements, with 53 per cent feeling encouraged to follow suit. As a result, interest in green technology is growing, with 48 per cent considering solar panels and 24 per cent exploring better loft insulation, while 15 per cent would think about fitting triple-glazed windows. For 38 per cent of homeowners, learning about the reduced energy bills neighbours enjoyed was the catalyst for their own interest. The report found that nearly half of the homeowners now see making sustainable upgrades as a mark of success in today's world. Being able to charge an electric vehicle at home, having underfloor heating powered by renewable sources, and owning a heat pump are now seen as top indicators of having 'made it'. Michaela Wright, head of group sustainability at Skipton Building Society, commented: "As more people see their neighbours investing in greener technologies, it naturally sparks curiosity and motivation to do the same. "There's something powerful about seeing these changes up close – it makes the benefits feel more real and achievable. It's a positive sign that more energy efficient choices are becoming aspirational, not just practical. "We understand that making energy-efficient home improvements might not be at the top of everyone's priority list. That's why we took on the journey ourselves – to help demystify the retrofit process through The Big Retrofit project. Article continues below "We've documented our experience and created a series of resources, to support others who are considering making similar improvements."
