Direct Property News

January 12, 2017

Landlords should be offered more support, claims peers

The Government must do more in order to support buy-to-let landlords, starting by changing tax increases, according to industry peers. Since the 3% stamp duty increases, alterations to mortgage interest tax relief and other changes, there has been a substantial drop in the number of buy-to-let transactions. A number of would-be investors have been deterred by the alterations. Concerns Jenny Mayes, of Simple Landlords Insurance has called on the Chancellor Philip Hammond to listen to the concerns of landlords. She noted: ‘Landlords should be supported and recognised for their contributions in providing affordable housing, rather than burdened with unfair tax measures that will see them having to take considerable cuts to their income and being forced […]
January 12, 2017

Two thirds of property investors think Manchester is the best place to invest

An impressive 68% of property investment professionals think Manchester is the best city in the Northern Powerhouse to invest in, as recent research from Lambert Smith Hampton (LSH) revealed. The study was part of LSH’s 2016 Northern Powerhouse Office Market Report and asked property developers and investors across the country for their thoughts on the region. For those who identified Manchester as the best place to invest reasons were plenty; from the wide variety of businesses and huge talent pool to its favourable transport links. At the same time, however, a bit over one quarter of professionals said that they were impressed with the Northern Powerhouse and its growth potential but were unsure whether the region […]
January 13, 2017

Manchester council vows to build up to 2,000 affordable homes a year

The council plans to bid for various pots of government cash, including a new fund announced in the Autumn Statement Manchester town hall has vowed to build up to 2,000 new genuinely affordable homes a year amid growing public and political concern about housing costs in the city. Fury had been growing for among backbenchers for some time over the boom in upmarket city centre apartments, none of which have included any cheaper homes as developers have repeatedly argued they cannot make them pay. A series of fraught private meetings towards the end of last year saw councillors repeatedly press the leadership over the issue. Now – for the first time – bosses have drawn up […]
January 16, 2017

Manchester, Birmingham and Leeds named the best for buy-to-let

The three northern cities, along with Cardiff and London, have been named the most lucrative places to invest in buy-to-let properties, a report by Martin & Co revealed. Rental demand was cited as one of the strongest indicators for a great buy-to-let location. The biggest factor influencing this indicator is the number of people competing to rent one particular home, which ensures investors string returns. Manchester and Leeds are both currently experiencing particularly strong growth. And demand, which has already been increasing over recent years, will only experience bigger growth with more companies relocating to those cities. Furthermore, the report by Martin & Co has also stated that demand is the biggest factor in the decision […]
January 16, 2017

Brexit unlikely to dent London as focus for property investment in Europe

London will remain an attractive location for commercial property investment in Europe despite Brexit although some banks and financial organisations may move out of the city, new research suggests. They could look to take space in other European cities such as Frankfurt and Berlin as a result of the decision by the UK to leave the European Union but the outlook report from real estate services firm JLL suggests that the numbers will be small. JLL predicts that 2017 will see no real clarity on the eventual Brexit deal and that the UK economy will grow less strongly than in recent years but will still outperform most other developed nations. It also forecasts that there will […]
January 17, 2017

Property prices up 0.4% at start of year in England and Wales, similar to a year ago

Residential property prices in England and Wales increased by 0.4% at the start of the year, not much change from the 0.5% recorded a year ago, the latest index data shows. The £1,086 monthly rise took the average price of a property to over £300,000 and asking prices are now up 3.2% year on year, the figures from property portal Rightmove show. But there is some considerable regional variations with prices up month on month in four regions and down on a monthly basis in five, including Wales, while they were unchanged in the North East. The biggest rise was in the South East with asking prices up 1.5% to £404,804 and up 5.5% year on […]