D_Property

January 18, 2018

Outlook for UK property market in next 12 months is more upbeat

The 12 month outlook for UK residential property prices and sales is more upbeat with Scotland, the North East of England and Northern Ireland seeing stronger activity, according to the latest industry survey. While agreed transactions fell at a national level in December with sales flat or negative across the rest of the year, surveyors are more optimistic, the survey from the Royal Institution of Chartered Surveyors (RICS). But there is unlikely to be a sudden improvement with sales expectations nationally remaining flat over the coming three months. However, signs of movement are there for a pick up during the year across all regions with London recording its first positive reading since last June. Overall buyer […]
January 15, 2018

Rental growth accelerates by a third in 2017

The latest data and analysis from Countrywide has revealed that rental growth across Great Britain increased in 2017 to 2.4%, up from from 1.8% in 2016. According to the figures, the average rent ended the year at £960 per month, up by £23 a month from the start of the year.  While rents rose a third faster than they did in 2016, rental growth was still behind than in both 2015 (3.2%) and 2014 (4.9%). Forty-six per cent of landlords increased the rent when re-letting their home, up from 37% in 2016. In a reversal of 2016 when London had the slowest rate of rental growth in England, last year it had the fastest. Over the […]
January 11, 2018

Pace of annual rent rises in England and Wales at lowest since 2014

Average asking rents in England and Wales increased by 0.7%, excluding London, year in year in the fourth quarter of 2017, the lowest annual rise since 2014, new figures show. However, in London asking rents ended the year some 1.2% higher than at the end of 2016, the first time the annual rate in the capital has been in positive territory in nearly two years. The data from Rightmove’s rental trend tracker report also shows that the South East and Yorkshire and the Humber are the only two regions to end 2017 with asking rents down, while the North East saw rents rising at the highest rate, up 3.3%. Farnham in Surrey recorded the highest rental […]
January 4, 2018

New build sales increased in England and Wales in November 2017

Some 106,412 property sales were registered in England and Wales in November 2017 with the number of new builds rising, the latest official figures show. Of the total 79,133 were freehold, a 10.3% increase compared to November 2016, and 13,095 were newly built, a 5.2% increase compared to November 2016, according to the data from the land registry. A breakdown of the figures show that 489 sales were properties sold for £1 million or more and 293 were properties in Greater London worth £1 million and over. The most expensive residential sale in November 2017 was a semi-detached property in the London borough of Kensington and Chelsea for £13 million while the cheapest was a terraced […]
January 3, 2018

Which towns were the winners and losers of the 2017 house price table?

According to the figures, the average price of a home in Cheltenham was 13% higher than in the previous year – an increase from £277,118 to £313,150 in 2017; nearly five times the 2.7% increase in the UK as a whole. The seaside town of Bournemouth experienced the second biggest rise, with an increase of 11.7%, while Brighton, on the south east coast completed the top three with an 11.4% rise in the past year. Fifteen of the 20 top house price performers are in London and southern England – these include Crawley (10.4%), Newham (10.2%), Peterborough (10.1%), Gloucester (9.5%) and Exeter (9.1%). Huddersfield (9.3%) in Yorkshire and the Humber, Nottingham (8.9%) and Lincoln (8.4%) in […]
December 26, 2017

Chinese buyers step up UK investment despite Brexit

Eighteen months after the UK’s EU membership referendum took place, interest in British property from Chinese buyers is as strong as ever. According to international property portal Juwai.com, the number of buying enquiries from potential Chinese investors is still 43.2% higher than it was in June 2016. The weak pound is a primary driver of increased demand. As a result, the site is expecting interest from Chinese investors to remain at a similar level in 2018. “Chinese property buyers made 43% more buying inquiries for UK property than they did in the second quarter of 2016, the period that encompassed the referendum,” said Carrie Law, CEO of Juwai.com. “At the time of the referendum, we said […]