Climate Projects we're supporting this month
PROTECTING OLD-GROWTH RAINFOREST IN PERU
Madre de Dios is the third-largest, and least densely populated, region of Peru. It is home to much of the Peruvian Amazon.
The region has historically been subject to numerous conservation challenges. These include the extraction of the rich natural resources in the area – including rubber, timber, and alluvial gold. In 2011, the completion of the Trans-Oceanic Highway – linking Peru to Brazil – presented further challenges to the conservation efforts in the region, dramatically expanding the nearby town of Puerto Maldonado, and producing an uptick in illegal logging in the region, in areas nearby to the highway.
The local community is reliant on the old-growth rainforest, but protecting it from degradation and deforestation activities has been a challenge. Supporting the community to both safeguard the rainforest and to establish sustainable sources of income are therefore top priorities in the region.
0.9T CO2 REMOVED
PEATLAND RESTORATION AND CONSERVATION IN INDONESIA
Peatlands are a type of wetland and are among the most valuable ecosystems on Earth. The term ‘peatland’ refers to the peat soil and the wetland habitat growing on its surface. Peat is a swampy, water-logged soil that is made through the slow accumulation of dead trees, plants, and other organic material which can only partially decompose due to the volume of water these habitats contain.
These unique habitats store massive amounts of carbon, with stocks below ground amounting to up to 20 times the amount stored in trees and vegetation. Despite covering just 3% of the Earth’s surface, they store more carbon than all other vegetation types in the world combined. When peatlands are cleared, drained or burned, the carbon stored within them is released into the atmosphere as carbon dioxide.
Indonesia contains some 36% of the world’s tropical peatlands, however, they are increasingly being destroyed to make room for plantation crops including oil palm and acacia. From 2000 to 2015, the country lost an average of 498,000 hectares of forest each year.
0.5T CO2 REMOVED
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Apr 11, 2022
Property Market Update: March 2022
Interest rates have increased again, the government’s Homes for Ukraine scheme has launched, and one major lender has reported record annual price rises. Read on for all this and more in our March property market update. With the clocks going forward at the end of the month, lighter evenings and Easter just around the corner, the traditional Springtime boom could also be on its way! And none too soon as there is still a desperate shortage of housing stock. Here are some of our predictions for what to expect next month… Now is the time to sell Figures recently released by property portal Rightmove have revealed that the UK’s average property price saw its most significant month-on-month increase for 20 years between January and February this year. According to their stats, the average asking price of a property rose by £7,785 in the first two months of the year, as sellers have increasingly been taking advantage of a shortage of homes for sale. The figures have also revealed the startling increase in house prices since the start of the pandemic, with average asking prices having risen nearly £40,000 in the past two years, compared with a rise of around £9,000 in the two years prior. For homeowners who have been considering selling their property, now is a great time to bite the bullet. Spring is traditionally the best time to list, with the most active buyers on the market, and with COVID-19 restrictions now lifted and house prices expected to cool off over the next few months, it could be the last opportunity to take advantage of increased asking prices. Nationwide reports record cash rise The UK’s biggest building society, and one of its biggest lenders, has reported a record rise in the cost of a UK home. According to figures released by Nationwide, the cost of a typical home rose by £29,162 in the past year – the biggest cash increase in property prices since they started collecting comparable data in 1991. This means the average asking price across the UK reached £260,230 in February, with the increased cost of living appearing to have little effect on house prices. The findings are bad news for first-time buyers struggling to get onto the property ladder, although with many property experts forecasting a slowdown in house prices in the coming months, there may be some respite for those looking to take their first steps. Buy-to-let mortgages becoming more appealing for investors Research from Mortgage Broker Tools has shown that affordability for buy-to-let mortgages is at its highest point since they started collecting data. According to their figures, average maximum loan sizes have increased by 13% in the past year, with the average currently being a little over £421,000, which represents a £20,000 increase in the past two months. And in further good news for potential landlords, figures released by Moneyfacts show that there are currently 2,235 mortgage products available to first-time investors – a considerable increase on the 1,311 products available at the same point 12 months ago. Government launches Homes for Ukraine scheme In response to the war in Ukraine, the UK government has launched the Homes for Ukraine scheme, which asks people who can, to offer a room to refugees fleeing the conflict. You’ll need to confirm that your home is available for at least six months, and you’ll be entitled to a monthly payment of £350 for up to 12 months, although you won’t be expected to cover the cost of food and living expenses. To register your interest in the scheme, just visit the government website. Interest rates rise again The Bank of England has increased interest rates for the third time in four months to try and lessen the effects of the continued cost of living increases. The rise will directly impact around two million homeowners who have either a variable or a tracker mortgage, as they’ll see their monthly repayments increase again. For homeowners with a £200,000 mortgage, this will mean around a £42 increase to their monthly repayments. And Finally… Homes for under £10k While asking prices may have hit record highs and youngsters feel increasingly uncertain they’ll be able to get onto the property ladder, it’s certainly not all doom and gloom for would-be buyers. A recent post by major property portal Zoopla has revealed a list of 14 properties for sale for £10,000 or less. While some will need extensive work doing to them, and some will fetch higher at auction, it does show that there are still bargains to be had despite the significant increases in prices over the past couple of years! For more property news and updates and a more detailed overview of Greater Manchester area, get in touch with Property Genius. We are your local property experts.
Mar 21, 2022
Property Market Update: February 2022
Interest rates have increased again for the second time in quick succession, and a quiet Wiltshire town has leapt up the property hotspot list! In good news for tenants, the government has announced new reforms to protect renters. Read on for all this and more. WHAT CAN SELLERS ENTERING THE MARKET IN MARCH 2022 EXPECT? With all COVID-19 restrictions being lifted by the end of March (if not sooner), and spring just around the corner – which is traditionally a hot time of year for the property market – here are some of our predictions for what to expect next month… HOUSE PRICE GROWTH SET TO SLOW After a strong start to the year, house prices are forecast to stabilise over the coming months. The UK’s biggest building society, Nationwide, reported a sixth consecutive monthly increase in January, with prices rising 0.8% on the previous month and 11.2% annually. Competitor Halifax also announced increases of 0.3% from the previous month and 9.7% annually. However, despite these consistent increases over the past 12 months, both lenders have predicted a cooling of the housing market in 2022, with the cost of living increases and limited supplies of new housing stock coming onto the market being cited as major factors. Movers and Shakers CORSHAM NAMED AS A TOP PROPERTY HOTSPOT The picturesque country market town of Corsham in Wiltshire has been named as the UK’s newest property hotspot. The town might not be instantly familiar by name, but TV fans will recognise it, as it’s appeared in numerous period dramas, from Poldark to Lark Rise to Candleford and Tess of the D’Urbervilles. And with demand for more open spaces and work from home offices remaining strong, the town on the edge of the Cotswolds is seeing a big increase in buyer activity. Figures released by major property portal Rightmove show an increase in buyer demand of 124% compared with 12 months ago. Average prices have inevitably increased too, with a jump of 6% year on year. The majority of buyers are Londoners seeking more bang for their buck, and with average prices in the town of a little under £330,000, it’s no surprise that it’s attracting many out-of-towners. First-Time Buyer News AFFORDABILITY ISSUES REACH RECORD HIGHS One of the UK’s biggest lenders, Nationwide, has announced some startling figures which affect first-time buyers’ affordability. While it’s widely known that house price growth has outgrown wage growth, the building society has laid bare just how much price increases have outpaced wages since the pandemic began. Their figures reveal that a 10% deposit on a first home is now equivalent to 56% of total gross annual earnings, which is a new record high. Buy-to-Let News SECTION 21 TO BE ABOLISHED In a move that will protect renters, the Government has announced plans to abolish Section 21, which allows landlords to evict tenants without any reason. The plans are part of the Government’s Levelling Up White Paper, which is aiming to help poorer communities become more prosperous. Other changes that are planned include ensuring that privately rented properties meet minimum standards, and the introduction of a landlords register, with an aim to crack down on rogue landlords. Latest news for Landlords ALMOST 1/3 OF TENANTS ADMIT TO KEEPING HIDDEN PETS! A recent survey has found that 27% of tenants have admitted to hiding pets from oblivious landlords for more than three years. The most commonly hidden pets are birds and rabbits, while somewhat surprisingly, horses are in third place! We’re not sure entirely how you hide a horse – suggestions on a postcard, please! The number one way to avoid landlords discovering pets during an inspection was to take them out for a walk, which was followed closely by asking friends to look after them, and then asking a neighbour to keep hold of them during inspections. The study also revealed that the most pet-friendly landlords are in Norwich, with the least friendly being in Edinburgh. Mortgage News INTEREST RATE INCREASE FOR THE SECOND TIME IN THREE MONTHS The Bank of England has announced an increase in its base interest rate from 0.25% to 0.5% – the second increase in just three months. The increase will mean a rise in monthly mortgage repayments for around two million homeowners with variable-rate mortgages and will add around £24 per month to a £200,000 mortgage. The rise comes hot on the heels of Ofgem’s announcement that energy bills will increase by 54% this year, as millions of households face a squeeze on the cost of living. And Finally… A home with a rather unusual feature in the front garden made headlines on social media recently. The 2-bedroom bungalow in leafy Nursling, Hampshire, has a spacious back garden with views across lush green fields, but it’s the enormous telephone pylon in the front garden that really caused it to go viral. You can check it out here, but hurry – the property’s already sold, subject to contract. Property Genius are your local property experts for the Chorlton, Manchester area. Call us on 01618813028 or email contactus@property-genius.co.uk to find out how we can help you buy a new home or sell your property.