PROPERTY NEWS

BABY NUMBER TWO IS VERY EXPENSIVE
A new HSBC survey found that London is the most expensive place to house a second child. The average additional cost of baby number two nears £60,000. The average property upgrade typically needed to house a second child is 38 per cent, 1.6 times the UK’s annual household income. Yorkshire was found to be the most affordable place to raise a second child.

NEW PREMIER HOMES IN EAST SUSSEX
Weston Homes opened its final, premier block of new-build apartments at its Mayfield Grange development in East Sussex. Built over 20 acres through a conversion of Mayfield College, the new apartment blocks join the development’s two other buildings, the Great Hall and the Chapel. www.weston-homes.com/mayfieldgrange

OVERSEAS PROPERTIES ON THE RISE
PrimeLocation, a portal for estate agency firms, found that searches for overseas property are on the rise. The US saw greatest increase in property searches, up by 31 per cent, with Switzerland and Germany right behind with 30 and 28 per cent increases, respectively. Overall, searches for international property increased by 14 per cent in the third quarter.

LETTINGS GOING FASTER THAN EVER
Countrywide, the UK’s largest lettings and property services group, has found that the demand for rental property in the UK is still at a record high. Demand in the private rental sector increased by 10.8 per cent in the third quarter, significant when demand was 11.9 per cent in the second. Currently in London, properties are let on average after 11.2 days on the market.