THE Government’s pre budget report has done nothing to provide any help to the housing market, according to local agents.
The new measures, announced on Tuesday by Chancellor, Alistair Darling, covered tax changes — the personal tax allowance increase by ฃ600 announced in May, is to be permanent, with a further increase of ฃ130, a temporary reduction in VAT to 15 per cent, until the end of next year — and other measures, including an increase in child benefit brought forward to January and a ฃ60 payment to pensioners brought forward to January.
Along with the ‘benefits’ go changes to National Insurance contributions — to increase from April 2011 by 0.5 per cent and the restriction of income tax personal allowances for those earning over ฃ100,000 from April 2010, amongst other measures, none of which, says Richard Beville of Beville in Sonning Common, will help the housing market recovery. “The measures announced would not appear to provide any stimulus to the housing market: a revision of the stamp duty thresholds would reduce the cost of moving and help kick start the property market,” he said.
Rob Bruce, research manager for Hamptons International commented: “Hamptons International welcomes the ฃ1.8 billion package of housing measures to be implemented following the Chancellor’s pre-Budget report. However we question whether they will go far enough to reinvigorate consumer confidence during such challenging economic times.
“With repossessions up 41 per cent during the first half of this year when compared to the previous six months, consumers have also found their properties falling in value by 16 per cent during the year which has left them with substantially lower equity and therefore lower spending power.
“The changes in the pre-budget report also do not directly address concerns around the majority of household costs which is likely to put off many shoppers who will stay out of stores in favour of maintaining a roof over their head. Historically high costs of borrowing and the potential for the rate of unemployment to climb clear of three per cent also means that spending — both personal, and for business expansion, will remain capped.
“We look forward to clearer guidance on the ‘detailed scheme’ to improve the supply of mortgages before the Budget next spring. The immediate effect of today’s changes will also do little to ease the burden on mortgage borrowers and will not assuage first-time buyers’ fears that capital values will continue on the recent boom-and-bust rollercoaster.”
COTTAGES are timeless: they speak to us of the past, with their rooms designed for cosy living, simpler needs for furnishings and windows whose size is determined by window taxes or the cost of glass. In the present they represent one of the most popular, sought-after types of property, as they remain family homes, set in idyllic rural and semi rural locations, and provide versatile, character homes for the future.
Woodleys Cottage, in the heart of the village of Brightwell-cum-Sotwell, just three miles from Wallingford, is a pretty home in a quiet lane. The village itself has a local pub, a post office — held in the hall twice weekly — and a thriving village community. Wallingford offers a large Waitrose, a variety of shops and a cinema/theatre. Communications in the area are excellent, with access to the M4 at junction 12, and Didcot main line railway station just four miles away. There are good schools in the area, too, including Moulsford Preparatory, Radley College and The Oratory.
Woodleys Cottage has a thatched roof, which has recently been replaced: the cottage is believed to be the oldest in the village.
On the ground floor, the front door opens directly into the dining room, with a large fireplace to one side, windows to either side and an opening into the sitting room. Two small windows look to the front of the property, and there is an inglenook fireplace to one side. Looking to the rear garden, there are windows, and a single door opens onto the gardens.
A door from the sitting room leads to the kitchen/breakfast room, which has been newly fitted. There is a walk-in larder, with a window looking to the side of the house, and a shower room. Continued on back page
Stairs lead from the sitting room to the first floor; the master bedroom lies to one side, with a large window looking to the side of the house and built in cupboards to the other side. The second bedroom, across the hallway, has windows to two side, and the third bedroom/study/dressing room, which has been fitted with a range of built-in cupboards, is reached through the second bedroom.
The family bathroom has a power shower, wc and wash hand basin, and windows looking to the garden.
Outside, the garden has a circular lawn, edged with well-stocked flower beds. To the front, a cottage garden bounds the property, and, in the rear garden, there is a summer house and patio storage sheds. There is also off street parking.
For more information, call Savills in Henley on (01491) 843001. The guide price for Woodleys is ฃ560,000.
