Direct Property News

Buyers looking for a new home in England are more likely to find one in London, Merseyside and Greater Manchester as they are the locations with the highest number of new builds.

New research also shows that it is harder to find a new home to buy in Durham where just 23 new homes were completed during the whole of 2017, followed by the Isle of Wight with 24, Rutland with 53, Herefordshire with 93 and Bristol 144.

This in contrast to London where 8,522 new homes were completed in the same 12 month period, followed by 1,978 in Merseyside, 1,280 in Greater Manchester, 1,132 in Surrey and 964 in Hampshire.

Online housing agents Sellhousefast analysed available new homes for sale figures at a time when demand for new builds is rising. It pointed out that figures from the Ministry of Housing, Communities and Local Government (MHCLG) show that there were 163,250 new build dwelling completions in England in the year ending December 2017, a rise of 16% year on year.

It added that with Governmental initiatives such as Help to Buy, more and more people are interested in purchasing new build properties around the country and official figures also show that there was a 28.2% increase in sales from April 2017 to April 2018.

‘While older properties have their charm, there are plenty of reasons people choose to buy new builds. New build properties are increasing in popularity due to a competitive off-plan price, and governmental Help to Buy initiatives, making it a more prosperous and modern appeal to young individuals and couples who are looking to get onto the property ladder,’ said Robby Du Toit, managing director of Sellhousefast.

‘One of the most popular reasons new build properties are attractive is due to the minimal work prospective buyers need to do. And should issues arise, new builds are typically covered for a few years which means you do not have to pay for any work that needs to be carried out,’ he explained.

‘As well as this, home owners can expect lower energy bills and running costs if the property is built to the correct standards. Lastly, most new build properties come with a 10 year NHBS warranty,’ he added.

Source: www.propertywire.com

June 19, 2018
london-1572444_1920

London and Merseyside have highest number of new homes for sale

Buyers looking for a new home in England are more likely to find one in London, Merseyside and Greater Manchester as they are the locations with the highest number of new builds. New research also shows that it is harder to find a new home to buy in Durham where just 23 new homes were completed during the whole of 2017, followed by the Isle of Wight with 24, Rutland with 53, Herefordshire with 93 and Bristol 144. This in contrast to London where 8,522 new homes were completed in the same 12 month period, followed by 1,978 in Merseyside, 1,280 in Greater Manchester, 1,132 in Surrey and 964 in Hampshire. Online housing agents Sellhousefast analysed […]
June 4, 2018
architecture-1866767_1920

Rents in prime property market in London forecast to rise this year

Rents in London’s prime property market are approaching positive territory, falling by just 0.1% in the 12 months to May 2018, the latest index figures show. The figures from real estate firm Knight Frank also show that in the middle price bracket rents increased by 1%, indicating that in this sector where demand is stronger the lettings market is leading the recovery. But, overall, political and economic uncertainty is continuing to impact on demand in London’s prime lettings market, according to Tom Bill, head of London residential research. However, Knight Frank forecasts that rents will grow by 0.5% in 2018. It follows a 15% decline in the number of properties listed for rent in the 12 […]
June 1, 2018
castle-1142178_1920

Activity improving at the very top end of the London housing market

Activity levels at the very top of the London property market have stabilised after a tumultuous few years, the latest analysis reveals. Sales in the super prime market with homes valued at £10 million plus have been underpinned in many cases by the release of pent-up demand, says the report from international real estate firm Knight Frank. The figures show that the number of new prospective super prime buyers registering in the first three months of 2018 was 7% higher than last year. And, although the number of transactions in the year to March was 9% lower than over the previous 12 months, this is an improvement compared to annual falls of more than 20% registered […]
May 30, 2018
london-1567903_1920

Sales in central London’s prime property market expected to rise in 2018

The prime central London property market is still adjusting to the tax regime introduced more than three years ago but sales are expected to increase in 2018, the latest analysis shows. However, economic and political uncertainty is also continuing to affect the market, according to the report from real estate firm JLL. It expects some long time owners to put their properties on the market over the next 12 to 18 months. This will mark the start of a new, more active and acceptance phase for the sales market which is being encouraged by the fact that house prices increased by 0.3% in the first quarter of 2018, particularly two and three bedroom houses. The report […]
May 29, 2018
urban-438393_1920

Have you paid more stamp duty than needed?

HMRC has stated that at least 15,700 buyers overpaid stamp duty last year. Are you, or your buyers, making incorrect assumptions about purchase costs? Despite the high cost of stamp duty, some buyers and, surprisingly often, their professional advisors, are getting their tax calculations wrong, prompting would-be movers to hold back and others, HMRC has confirmed, to over-pay by tens of thousands. The Wilmslow branch of estate agents, Jackson-Stops, recently saved one well-heeled buyer several hundred thousand pounds in Stamp Duty Land Tax (SDLT), merely by pointing out one aspect of the current rules. Another nearly fell foul of a much more common misinterpretation, the clarification of which reduced their tax bill by £18,000 to £20,000. […]
May 25, 2018
coins-1523383_1920(1)

Remortgage market grows in many parts of UK, latest data shows

The remortgage market in many parts of the UK has been growing, with new figures showing it was particularly strong in Wales, Scotland and London in the first quarter of 2018. In London remortgage activity reached its highest levels since the end of 2008 with the number of loans in this sector up by 4.1% compared to the same period in 2017. The figures from UK Finance also show that the amount of remortgaging at £4.67 billion was up by 7.6% year on year. Completed remortgages increased by 10.9% in Wales and the amount at £0.6 billion was up by 13.2% compared with the first three months of 2017. Overall levels reached a nine year high […]
Restricted Content
The contents of this website are intended only for investors from certain qualifying classes (“High Net Worth Individuals”, “Self-Certified Sophisticated Investors” and “Restricted Investors”). To access the full contents of the site you must first register in one of these categories.
Please confirm that you are a suitable investor before proceeding. If you are unsure whether you meet the specific criteria or not, you can check the definitions here.
Will be back soon