Direct Property News

January 5, 2017

Mortgage Approvals Hit Eight-Month High

Mortgage approvals for house purchases hit an eight-month high in November, according to the latest figures from the Bank of England (BoE). Some 67,505 mortgage approvals were recorded in November, up from 67,371 in October and the highest number seen since March, when the figure reached 70,079. It is believed that the peak witnessed in March was the result of a rush of investors hoping to beat the introduction of the 3% Stamp Duty surcharge for additional homes in April. Despite November’s high number of mortgage approvals, the level was still down on an annual basis, from 70,123 the previous year. However, the value of lending was higher in November, at £12.3 billion, up from £11.8 […]
January 5, 2017

5 things to consider before investing in rental property

New year, new investment? Now that 2017 has hit, you might be considering a new investment to kick off the year. But what are the red flags you should be looking out for? And what’s the better option? Managing it yourself or handing it over? 1. Can you afford the property? Investing in property is a big project that – for most buyers – comes with a lengthy process and will take a while to go through. So making sure that you’ve got the funds to cover every singly repayment and put the deposit down is one of the first things you should be certain about. 2. Can you afford the costs? Costs on a property […]
January 9, 2017

Housing market in UK ended 2016 strongly, latest index shows

The residential housing market in the UK finished 2016 strongly with prices up 1.7% month on month in December, taking the annual growth to 6.5%. The quarterly growth was also strong, up 2.5% in the final quarter of the year, taking the average price of a home to £222,484, the figures from lender the Halifax show. Halifax housing economist Martin Ellis said that while house prices finished 2016 strongly, slower economic growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are expected to reduce housing demand during 2017. ‘UK house prices should, however, continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally […]
January 10, 2017

5 New Year resolutions for landlords

As 2017 begins, now is the perfect time to think about how you can refine your role as a buy-to-let landlord and maximise the potential of your property! With these in mind, try these five easy new years resolutions to ensure you secure great tenants for 2017 and beyond: Talk to your tenants – It is vital that you keep in close communication with your tenants. This will not only show you as a conscientious and committed landlord but will allow you to keep on top of any problems. Most disputes arise as a result of simple misunderstanding or lack of communication. Be sure to develop a relationship with your tenants be staying in contact. Arrange […]
January 11, 2017

More than half of tenants in UK private rented sector cannot afford to buy

More than half of people who rent a home in the UK are doing so because they cannot afford a deposit to buy a property, new research has found. There have been several announcements recently about building more affordable homes and research showing that some aspiring first time buyers, particularly in London, cannot afford even the new starter homes. Now research shows just how many people cannot buy a home because they feel priced out of the housing market which comes in the week that figures from the Halifax show prices rose strongly at the end of 2016. The survey from Manchester based property investment firm found that 52% living in a rental property said they […]
January 11, 2017

Largest rise in UK house prices since March

Property prices across the UK jumped by their largest figures since March 2016 in the period between November and December 2016, despite the weaker post-Brexit market and continuing uncertainty over the direction of the economy. According to data from Halifax, prices increased by 1.7% last month, up from 0.6% last in November. The three-month average of year-on-year house price growth was 6.5% last month, up from 6%. Martin Ellis, Halifax housing economist, says the outlook for 2017 is notably more cautious: “House prices finished 2016 strongly. Slower economic growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are expected to reduce housing demand during 2017. UK house prices should, however, continue […]