Faringdon House Prices Have Risen by 133% as a Proportion of Household Income Since 1980.

Have the Baby Boomers (people between the ages of 55yo to 75yo) messed things up for the Millennials in terms of getting on the Faringdon property ladder? They bought their own council houses in the 80’s and 90’s, meaning there are no affordable homes for today’s youngsters, thus driving up the demand for rental homes and the price of homes (making them unaffordable). So, I decided to look at the figures, which do not make for good reading.

In 1980, the average Faringdon household income was just under £6,000 per annum and the average Faringdon house price was £30,589; whilst today, the average Faringdon household income is £33,200 per annum, yet the average household value is £393,000, meaning…

the average value of a Faringdon home was 5.1 times more than the average household income in 1980 compared to today, where it is 11.8 times a Faringdon household income

… it’s no wonder then that Millennials are pointing the finger at Baby Boomers!

And the problems don’t just stop there. Not only do the newspapers state there is a housing crisis of affordability, but also a crisis of the availability of homes for people to live in. The political parties using housing as a ‘vote getter’ mentioned stats such as in 1981 there were 5.1 million council houses and today that stands at 1.6 million. This is important because, as a substantial number of people will never be able to afford to buy, social housing plays a significant role in homing them.

It all looks rather damning and the phrase ‘OK Boomer’ looks quite apt.

(The phrase ‘OK Boomer’ become fashionable as it started as a way of showing Baby Boomers that things were “easier in the past”, yet now it has become just a way for younger people to discredit the views of older people).

Well, checking the stats, the political parties seemed to forget the number of housing associations homes (which are also social housing) has risen from 0.4m to 2.6m homes in that time, therefore, whilst there is a drop in social housing, it’s a net figure of 2.3m fewer social-rented houses, instead of the 3.5m in the paragraph above.

Baby Boomers simply did the best they could with the circumstances given – it’s not like that these older generations have been conspiring in the food aisles of Waitrose or M&S on how to mess things up for the next generation. There are fundamental underlying problems in British society that means things are difficult for our younger people – it’s everyone’s responsibility to solve those underlying problems – we can’t just blame the Baby Boomers. Millennials aren’t morally superior to Baby Boomers just because they didn’t grow up in the same era of economic growth and house price inflation.

What some people seem to forget is whilst Faringdon property values were lower, so were salaries. The true cost of affordability is the mortgage payments. Assuming someone bought an average property in 1980 and again in 2019, using a 95% mortgage at the prevailing mortgage rate of 17.8% in 1980 and the current 1.65%, today in Faringdon the mortgage accounts for 55.06% of the household income (assuming a single income) compared to 87.34% in 1980. This has to be one of the main reasons why many families became two wage households in the late 70’s/early 80’s as housing affordability was diminished with these eye watering high interest rates.

Things were much tougher for homeowners in 1980….

The issue here is something much deeper. Baby Boomers say it is the Millennials’ own fault they can’t afford to buy their own home because they spend all their money on three holidays, avocado on toast, going out down the pub 3 times a week and buying the latest iPhone or suchlike whilst Millennials accuse the Baby Boomer generation for ruining the housing market ‘per se’ by being selfish. Both are right and both are wrong.

In my own involvement with friends and family, many Faringdon Baby Boomers are trying their best to help out their now grown up children with a deposit. They are fully aware of current Faringdon house prices compared to when they bought their own homes.

I am not a fan of attaching labels, be it Millennials, Baby Boomer or Gen-X. It’s really a point of attitude and behaviour and circumstance rather than the date of your birth. Every generation has had its fair share of feast and famine and whilst I appreciate the irony of the title of this article, let’s stop labelling people and making assumptions, everyone needs to understand each generation’s issues and be more supportive of each other.

Perry Bishop and Chambers’ Cheltenham team have this year chosen local charity – Building Circles – as their Charity Partner for 2020. The estate agents are delighted to lend their support to this brilliant local organisation which gives people with learning disabilities the chance to lead more fulfilling lives through friendship and community participation.

Katie Buck, Office Manager at Building Circles, recently met up Branch Manager Jackie Carlton and the rest of the Cheltenham team at one of their morning training sessions. She talked to them about how Building Circles came about and what they do to help adults with special needs in Gloucestershire – building friendship circles so that they no longer feel lonely or isolated.

Building Circles will benefit from a donation from every house sold by Perry Bishop and Chambers Cheltenham*. Their logo will also appear across all the company’s marketing literature throughout the year. Director, Gavin Wallace, is delighted that Perry Bishop can help raise awareness and much needed funds for the invaluable work of this small local charity. “We are so pleased to be supporting Building Circles in 2020, who provide an invaluable service for people with learning disabilities in our community.”

*Sue Ryder Leckhampton Court Hospice will continue to receive donations from sales of properties in Leckhampton and Charlton Kings.

Join us on Saturday 18th January, 10am – 12 midday,  for the launch of the final phase of the stunning LEWISTON MILL development in Brimscombe.

Choose between the detached Wheel House, three luxury townhouses or a very stylish two bedroom apartment. Four rental apartments, including a penthouse, will also be available to view.

Built to exacting standards by award winning developers Colburn.
Call our Nailsworth office on 01453 836736 for further details and to book your appointment.

See you across the pond next Saturday!

Lewiston Mill, Toadsmoor Road, Brimscombe, GL5 2TE

 

Happy New Year from all of us at Perry Bishop and Chambers.

A new year is often an opportunity for a new start and, as expected, since the beginning of January we have already received a steady build-up of enquiries from applicants looking to make 2020 the year they move.

We have already seen an increase in traffic to property websites so far in January 2020. The number of viewings we are conducting and offers we are negotiating would indicate we have more optimism in the housing market following the decisive general election result, which should lead to more stability.  There is pent up activity from buyers and sellers who had put their plans on hold over the last three years and current activity shows that this is beginning to come through.

Current market conditions are helping  First Time Buyers who are competing with fewer investors and also have the advantage of historically low interest rates, allowing them to fix their mortgage rate.  This then allows second steppers the opportunity to upsize into a home more suitable for their growing families.  Mortgage lenders are facing stiff competition and are consequently offering attractive rates and products.

We put our energy into giving you the best advice for the market conditions, whatever they may be, and tailor that to your personal needs. We will spend time understanding the reason for your move, what lies behind your decision, and then ascertaining what is most important to you – the price you achieve, or the timescales for moving.  We can then tailor a marketing strategy to suit your circumstances, which includes our unique  11 Step Plan to Sell for the Best Price.

Our skilled negotiators are trained to get you the very best price they can for your home, but they don’t stop there.  They can also negotiate on your behalf to secure the property you aspire to move to, helping you to successfully move on to the next chapter of your lives.

Don’t wait for Easter, or the Summer, or for Brexit.  If you are thinking of selling, or know someone who is, ask them to get in touch for a free, without obligation consultation and advice.

We are here to help and hope we will be able to assist in 2020.

Perry Bishop and Chambers’ Cirencester team have this year chosen local charity – The Big Yellow Bus Project – as their Charity Partner for 2020. The estate agents are delighted to lend their support to this fantastic local initiative set up by the remarkable Gerry Watkins to alleviate the suffering of those sleeping rough in the town.

Gerry Watkins recently met up with members of staff during one of Perry Bishop and Chambers’ morning training sessions and filled the team in on how the Big Yellow Bus Project came about, what they do and how they help as well as future plans to set up another bus for rough sleepers in Stroud.

The Big Yellow Bus Project will benefit from a donation from every house sold by Perry Bishop and Chambers Cirencester. The Big Yellow Bus Project logo will also appear across all the company’s marketing literature throughout the year. Managing Director, Phillip Bishop, is delighted that Perry Bishop can help raise awareness and much needed funds for the invaluable work of this small local charity. “We are so pleased to support this fledgling charity which is making a big difference to the lives of homeless people in Cirencester.”

Happy New Year from all of us at Perry Bishop and Chambers.

A new year is often an opportunity for a new start and, as expected, since the beginning of January we have already received a steady build-up of enquiries from applicants looking to make 2020 the year they move.

We have already seen an increase in traffic to property websites so far in January 2020. The number of viewings we are conducting and offers we are negotiating would indicate we have more optimism in the housing market following the decisive general election result, which should lead to more stability.  There is pent up activity from buyers and sellers who had put their plans on hold over the last three years and current activity shows that this is beginning to come through.

Current market conditions are helping  First Time Buyers who are competing with fewer investors and also have the advantage of historically low interest rates, allowing them to fix their mortgage rate.  This then allows second steppers the opportunity to upsize into a home more suitable for their growing families.  Mortgage lenders are facing stiff competition and are consequently offering attractive rates and products.

We put our energy into giving you the best advice for the market conditions, whatever they may be, and tailor that to your personal needs. We will spend time understanding the reason for your move, what lies behind your decision, and then ascertaining what is most important to you – the price you achieve, or the timescales for moving.  We can then tailor a marketing strategy to suit your circumstances, which includes our unique  11 Step Plan to Sell for the Best Price.

Our skilled negotiators are trained to get you the very best price they can for your home, but they don’t stop there.  They can also negotiate on your behalf to secure the property you aspire to move to, helping you to successfully move on to the next chapter of your lives.

Don’t wait for Easter, or the Summer, or for Brexit.  If you are thinking of selling, or know someone who is, ask them to get in touch for a free, without obligation consultation and advice.

We are here to help and hope we will be able to assist in 2020.

Perry Bishop and Chambers’ Cirencester team have this year chosen local charity – The Big Yellow Bus Project – as their Charity Partner for 2020. The estate agents are delighted to lend their support to this fantastic local initiative set up by the remarkable Gerry Watkins to alleviate the suffering of those sleeping rough in the town.

Gerry Watkins recently met up with members of staff during one of Perry Bishop and Chambers’ morning training sessions and filled the team in on how the Big Yellow Bus Project came about, what they do and how they help as well as future plans to set up another bus for rough sleepers in Stroud.

The Big Yellow Bus Project will benefit from a donation from every house sold by Perry Bishop and Chambers Cirencester. The Big Yellow Bus Project logo will also appear across all the company’s marketing literature throughout the year. Managing Director, Phillip Bishop, is delighted that Perry Bishop can help raise awareness and much needed funds for the invaluable work of this small local charity. “We are so pleased to support this fledgling charity which is making a big difference to the lives of homeless people in Cirencester.”

 

 

Our Managing Director, Phillip Bishop, was recently interviewed on Tim Thurston’s show – Mind Your Business – for  Community station Swindon 105.5FM.

Find out how where he learned the ropes and first discovered his passion for property and helping people on the move, which led to the formation of a successful multi-branch agency with offices across Gloucestershire and The Vale of the White Horse.

Click on Phillip’s pic to hear the interview in full.

Alternatively, you can read a transcript of his interview below:

Tim Thurston:

I’m in Cirencester today and I’ve called into local estate agent Perry Bishop and I’m talking to a managing director, Phillip Bishop. Hello Phillip, how are you?

Phillip Bishop:

Hi, Tim, I’m great, thank you. Good to see you.

Tim Thurston:

And you. Just tell me a little bit about yourself. You’ve been in an estate agency for quite some time I believe.

Phillip Bishop:

Yeah. A few years. I started a tender age of 16 in my home town, I live in Cirencester now, but my home time is Faringdon. I wanted to be an architect or a surveyor or an estate agent, but something to do with property. I had a fascination for housing and all things property. Actually, my passion was probably architecture, but actually, that was going to be a long journey of university and I was just ready to leave education at 16.

And I went to the local office, Hobbs and Chambers, which was a general practice firm in Faringdon. Saw Mr. Chambers and he asked me a few questions and invited me into what would now be called work experience. And I had two weeks in their office in Faringdon and it was the best thing I ever did. And he was very, very kind. I spent time with their surveyors, time with their estate agents, time with the agricultural department

He was extremely generous in his time that he gave me and that’s 32 years ago and that’s our Faringdon office that we now own. We trade as Perry Bishop and Chambers. Peter Chambers is a director colleague and he’s the grandson of the orinal Chambers. So, we love that sort of history and that sort of lineage of the business.

My first day in Faringdon we went to sell a farm. And we sold a farm at auction. In the morning we sold the farm, in the afternoon we sold all the machinery, the combine, the tractors. And all the farmers played a trick on me because I was a 15, 16 year old trying to keep up. Mr. Chambers was very fast and knew everybody and sold all these tractors and equipment and goodness knows what else. And I couldn’t keep up.

My job was to run around as the clerk and check their names, check the lot number and check what the price they paid.

Tim Thurston

Right.

Phillip Bishop

And they run me ragged. And they gave me the wrong names and the different prices they paid. And it was chaotic and I didn’t cope very well. But Mr. Chambers was really kind. It was all quite formal in those days.

Tim Thurston

Of course, yes.

Phillip Bishop

And he was very, very kind. He knew, he had enough memory and enough knowledge and knew these people. He knew what they’d paid and what they bought and he let me off the hook, really.

Tim Thurston

Yeah. Brilliant. And did you say you worked in Swindon earlier in your career?

Phillip Bishop

Yeah. We had an office in Swindon. So, as soon as I passed my driving test, I probably was eight to 10 years working in Swindon. Actually, we are on our way back to Swindon as a firm.

Tim Thurston

Fantastic.

Phillip Bishop

So, we’re a six branch estate agency/surveying business and predominately in Gloucestershire. Five offices in Gloucestershire, one in Oxfordshire.

But so many people, I’m delighted to say, enjoy what we do for them, enjoy how we look after people. And we’ve had so many people asking for us to help and support them and help them buy and sell property in and around Swindon that we’ve just started working with our first new associate partner who’s just in training at the moment and will start and go live in the next few weeks.

Tim Thurston

Excellent. So, that’s good news for Swindon and you can bring your services there. That’s fantastic. What’s made you successful? Why has Perry Bishop flourished and you’re able to expand, would you say?

Phillip Bishop

I’m sure we’re not perfect. We try and keep our feet on the ground, but we would be seen as a traditional high street firm, but we try and use the best of tech. But we think of our business from the outside in, and that’s a bit of a cliche, but we constantly think about our clients, about our buyers for our houses, and how to make that easier for people.

So, I just think we’ve got a passion. We work very, very hard. We’ve got a passion for people and for property. We do keep our feet on the ground. We are only as good as … you know, a chef might only be as good as the last meal they serve, we’re as good as the last house we sold or the last property we acted for, or client we acted for.

And we employ the right people. I don’t like that term employee. We have teams and colleagues, but we work with the right people that fit in with our values. So, our values are hard work, integrity and customer service. And we can’t train those things. If people fit in with those things, then they’ll make it. And if people fit in with those values then our clients will get the best experience.

 

Bake a gingerbread house with this simple biscuit recipe and design template. Get the kids involved, too, and weave some magical Christmas memories.

PREP: 2 HRS

COOK: 30 MINS

Ingredients
For the gingerbread
250g unsalted butter
200g dark muscovado sugar
7 tbsp golden syrup
600g plain flour
2 tsp bicarbonate of soda
4 tsp ground ginger

To decorate
200g bag flaked almonds
2 egg whites
500g icing sugar, plus extra to dust
125g pack mini chocolate fingers
generous selection of sweets of your choice, choose your own colour theme
1 mini chocolate roll or a dipped chocolate flake
few edible silver balls

For the house design
template

Method
Heat oven to 200C/fan 180C/gas 6. Melt the butter, sugar and syrup in a pan. Mix the flour, bicarbonate of soda and ground ginger into a large bowl, then stir in the butter mixture to make a stiff dough. If it won’t quite come together, add a tiny splash of water.

Cut out the template (download from ingredients list). Put a sheet of baking paper on your work surface and roll about one quarter of the dough to the thickness of two £1 coins. Cut out one of the sections, then slide the gingerbread, still on its baking paper, onto a baking sheet. Repeat with remaining dough, re-rolling the trimmings, until you have two side walls, a front and back wall and two roof panels. Any leftover dough can be cut into Christmas trees, if you like.

Pick out the most intact flaked almonds and gently poke them into the roof sections, pointy-end first, to look like roof tiles. Bake all the sections for 12 mins or until firm and just a little darker at the edges. Leave to cool for a few mins to firm up, then trim around the templates again to give clean, sharp edges. Leave to cool completely.

Put the egg whites in a large bowl, sift in the icing sugar, then stir to make a thick, smooth icing. Spoon into a piping bag with a medium nozzle. Pipe generous snakes of icing along the wall edges, one by one, to join the walls together. Use a small bowl to support the walls from the inside, then allow to dry, ideally for a few hours.

Once dry, remove the supports and fix the roof panels on. The angle is steep so you may need to hold these on firmly for a few mins until the icing starts to dry. Dry completely, ideally overnight. To decorate, pipe a little icing along the length of 20 mini chocolate fingers and stick these lengthways onto the side walls of the house. Use three, upright, for the door.

Using the icing, stick sweets around the door and on the front of the house. To make the icicles, start with the nozzle at a 90-degree angle to the roof and squeeze out a pea-sized blob of icing. Keeping the pressure on, pull the nozzle down and then off – the icing will pull away, leaving a pointy trail. Repeat all around the front of the house. Cut the chocolate mini roll or dipped Flake on an angle, then fix with icing to make a chimney. Pipe a little icing around the top. If you’ve made gingerbread trees, decorate these now, too, topping each with a silver ball, if using. Dust the roof with icing sugar for a snowy effect. Lay a winding path of sweets, and fix gingerbread trees around and about using blobs of icing. Your gingerbread house will be edible for about a week.

Recipe courtesy of Good Food Magazine

Perry Bishop and Chambers are delighted to extend their exceptional property marketing service to people on the move in Swindon Villages. Tessa Darley, who lives in the village of Blunsdon, has been appointed Associate Partner to head up valuations and sales across the area which comprises Blunsdon to the North, Royal Wootton Bassett to the West, Wanborough to the East and Chiseldon to the South.

“I am thrilled to be able to be able to offer a very personal service to people looking to move in and around the area where I live,” says Tessa. “It’s great that anyone living in the towns and villages surrounding Swindon can now take advantage of Perry Bishop and Chambers’ award-winning estate agency service.   If  a move is on the cards for 2020 – maybe an extra bedroom is now a necessity for your growing family or conversely you may no longer need so much space – that’s where I and the team at Perry Bishop can help. We implement a bespoke 11 Step Plan – based on proven results of selling hundreds of properties – which offers the perfect strategy for attracting the right buyer for your property and achieving the best price, typically an additional 2% more than the average sales price.

I look forward to helping you with your next move”