Direct Property News

November 29, 2017

Value of homes in the UK up by 48% in last decade

The value of privately owned homes in the UK had risen by £1.94 trillion over the last decade with over half of this increase in London and the South East, new research shows. It means that the total value of privately owned UK housing stock has surpassed £6 trillion for the first time, according to new research by the Halifax. Since 2007, the total value of private residential property in the UK has grown by 48% to an estimated £6.02 trillion and in the past year alone, the value has grown by £376 billion, mainly reflecting average house price growth of 5% in the year to August. The average value per household in the UK now […]
December 4, 2017

Sales and lettings markets in UK saw change in 2017

It has been a busy year for the sales and lettings property markets in the UK with ups and downs in both sectors, according to an overview from agents. Perhaps one of the most striking trends was the number of properties that sold for less than their asking price, on average 77% of the time, while only 4% were sold for more than the original asking price. According to the National Association of Estate Agents (NAEA) demand spiked in January and February with 425 house buyers registered per branch. Demand was higher than in 2016, with an average of 380 prospective buyers registered per branch, compared to 365 on average over the course of last year. […]
December 5, 2017

British housing minister announces new £25 million fund for more homes

A new £25 million fund has been launched to help local authorities in England deliver more high quality, well designed homes. Housing and Planning Minister Alok Sharma announced that the Planning Delivery Fund is now open for bids and will support ambitious local authorities and third sector organisations in areas of high housing need to plan for new homes and infrastructure. Initially opening up £11 million of the fund, councils will be able to apply to help gain the skills or capacity they need to deliver high quality housing growth at scale, pace and implement wider planning reforms. The fund is aimed at encouraging more innovation in the design quality of new housing developments, as well […]
December 7, 2017

Property prices rise in UK for four quarters in a row

Residential property prices in the UK increased by 2.4% in the three months to the end of November, the faster growth for this measure since January, the latest index shows. The data from lender the Halifax also shows a month on month rise of 0.5%, taking the average price of a home to £226,821. It was the fifth consecutive monthly rise. The average price is 3.2% higher than in January when it was £219,741 but year on year growth has fallen back from 4.5% in October to 3.9% in November. ‘Whilst the annual rate of growth eased in November, with the first decline in this measure since July, when looking at quarterly change prices in the […]
December 12, 2017

UK property prices up 4.5% year on year but fell slightly month on month in October

Average property values in the UK fell by 0.5% in October 2017 but are still 4.5% higher year on year at £223,807, according to the latest official figures. A breakdown of the data from the Office for National Statistics shows that month on month prices were down by 0.6% in England but up 4.7% year on year to an average of £240,860. Prices in Wales increased by 4.5% year on year to an average of £153,316 and increased by 0.8% month on month. In Scotland prices increased by 2.8% year on year but fell 0.7% month on month to £143,544. The East Midlands recorded the biggest rise with prices up by 7% year on year, followed […]
December 14, 2017

Property prices in the UK were flat in November, latest RICS survey shows

House prices in the UK remained broadly flat at a national level in November with regional variations and activity stabilising, according to the latest analysis report. The near term outlook for prices and sales is flat with chartered surveyors unconvinced that the housing market will gain impetus in the coming months. The report from the Royal Institution of Chartered Surveyors (RICS) suggests that momentum in the residential property market continues to be stifled by persistent shortages of homes being put up for sale along with economic uncertainty. Prices did not move in November following a rise of 1% in October but the report points out that there were significant variations in price trends at a regional […]