Direct Property News

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact.

Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years.

It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%.

Broadband is now seen as essential for the majority of home movers, up from 48% to 57% and providing financial support for relatives has become one of the key reasons to move home, up from 15% to 22%

Five years of survey results showed that a desire for a more relaxed, accessible lifestyle lies behind the most popular reasons for moving home. Along with privacy, mentioned by 66% of respondents, access to local shops and amenities, digital connectivity and public transport are among the top reasons for moving.

Access to public transport was mentioned by significantly more respondents at 48% compared to 37% in 2013. Even in the digital age, more people wanted to be close to family and friends, up from 37% to 48%.

Walking to work was also seen an increasingly attractive option, up from 25% to 36%. This year’s survey also showed marked changes when it comes to the size and type of home respondents expected to move into in the future.

‘Connectivity seems to be the key for British home movers in 2018. We want to be connected in all areas of our lives, digitally through our mobiles and laptops and physically to good transport links and local shops and leisure facilities. There is a growing requirement for connection, community and convenience,’ said Vanessa Hale, director of research at Strutt & Parker.

‘Since 2013, good broadband has jumped from 48% to 57% as a key motivation for moving. It is now seen as a necessity for many as it impacts on every area of our life, whether that be work or leisure, if we don’t have it at our fingertips,’ she pointed out.

‘This move towards connection also goes some way to explain why our survey shows that big city life has become more appealing to people. By their very nature, cities tend to offer a greater level of accessibility than smaller towns or villages. City dwellers don’t have long commutes to work and can enjoy walking to a local cafe or the gym. In today’s hectic times, this is the lifestyle many people want,’ she added.

The research also shows that detached houses have seen a drop in popularity over the past five years, down from 83% to 49%, while semi-detached homes have become the desired new housing option for an increasing number of respondents, up from 5% to 14%.

Three bedrooms remain the most popular housing option with 35% choosing them, while there has been a decline in the aspiration to live in larger properties with four or more bedrooms, down from 37% to 27%. The report suggests that this could reflect the change in many household make-ups, a couple with no children remains the most likely future household make-up at 44%, although this option had declined by 14% in the past five years.

Source: www.propertywire.com

October 17, 2018
home-589068_1920

Report reveals the major changes in the UK housing market in last five

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact. Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years. It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%. Broadband is now seen as essential for the majority of home movers, up from […]
October 16, 2018
home-1682316_19201

Rents rise across Britain, with London seeing first annual rise for several months

Residential rents across Britain increased by 1.6% year on year in the 12 months to Hamptons International report which also looked at what properties landlords are buying. A breakdown of the figures shows that in London rents rose 0.1% year on year, the first annual rise in four months while Wales saw the strongest rental growth with average rents up 3.9% year on year, followed by the East up 2.8% and the Midlands up 2.4%. The data also reveals that in the first half of 2018 landlords spent £12.1 billion purchasing rental properties, some £5.2 billion or 30% less than in the first half of 2015 when the total value of homes bought for buy to […]
October 9, 2018
castle-1142178_1920

House price growth in the UK is steady, data from latest lender index suggests

House prices in the UK were 1.8% higher in the third quarter of 2018 than in the previous three months and 2.5% higher than the same period in 2017, the latest lender property index shows. The data from the Halifax also shows that the annual growth rate slowed from the 3.7% recorded in August and on a monthly basis, house prices fell by 1.4% in September, the second fall in a row, taking the average price to £225,995. Russell Galley, managing director of the Halifax, pointed out that the figures show that house price growth is stable. ‘This is set amongst mortgage approvals and completed house sales remaining broadly unchanged, although a gradual pickup in wage […]
October 2, 2018
door-1835474_1920

Plan announced for foreigners to pay more property tax in the UK

Foreigners who buy property in the UK are set to pay a higher rate of stamp duty, the tax payable on purchase, it has been announced. Prime Minister Theresa May told her Party Conference that it is part of the overall strategy to tackle the housing crisis amid concerns that foreign buyers have been using property as a way of stashing money and pushing up prices, particularly in London. There will be a consultation period but it is likely that anyone buying a property who does not pay tax in the UK will find themselves paying a higher rate of stamp duty. Research from York University estimated that 13% of new London homes were bought by […]
September 14, 2018
london-1567903_1920

New £1 billion fund announced for building new homes in England

The Government and Barclays have announced a £1 billion housing development fund to help deliver thousands of new homes across England. Under the agreement loans ranging from £5 million to £100 million, which will be competitively priced, will be available for developers and house builders who are able to demonstrate the necessary experience and track record to undertake and complete their proposed project. Funding is open to new clients as well as existing Barclays clients, and will put greater emphasis on diversifying the housing market, as at present almost two thirds of homes are built by just 10 companies. A key priority of The Housing Delivery Fund is to support small and medium sized businesses to […]
September 14, 2018
edinburgh-2147875_1920

Parliamentary event examines future of PRS

The Secretary of State for Housing has attended the launch of a collection of essays which examine the future of the Private Rental Sector an event held in Parliament. Provided by organisations such as Shelter, the Chartered Institute of Housing, the Institute for Public Policy Research and Crisis representing tenants, landlords, enforcing bodies and think tanks, the essays ahead to where they believe the sector should be heading in the next 20 years. Co-ordinated by the Residential Landlords Association (RLA), the essays have been launched at an event in the House of Commons to mark the RLA’s 20th anniversary. Speaking at the event was the Housing Secretary, James Brokenshire MP and the Shadow Housing Secretary, John […]
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