Direct Property News

January 4, 2018

New build sales increased in England and Wales in November 2017

Some 106,412 property sales were registered in England and Wales in November 2017 with the number of new builds rising, the latest official figures show. Of the total 79,133 were freehold, a 10.3% increase compared to November 2016, and 13,095 were newly built, a 5.2% increase compared to November 2016, according to the data from the land registry. A breakdown of the figures show that 489 sales were properties sold for £1 million or more and 293 were properties in Greater London worth £1 million and over. The most expensive residential sale in November 2017 was a semi-detached property in the London borough of Kensington and Chelsea for £13 million while the cheapest was a terraced […]
January 11, 2018

Pace of annual rent rises in England and Wales at lowest since 2014

Average asking rents in England and Wales increased by 0.7%, excluding London, year in year in the fourth quarter of 2017, the lowest annual rise since 2014, new figures show. However, in London asking rents ended the year some 1.2% higher than at the end of 2016, the first time the annual rate in the capital has been in positive territory in nearly two years. The data from Rightmove’s rental trend tracker report also shows that the South East and Yorkshire and the Humber are the only two regions to end 2017 with asking rents down, while the North East saw rents rising at the highest rate, up 3.3%. Farnham in Surrey recorded the highest rental […]
January 15, 2018

Rental growth accelerates by a third in 2017

The latest data and analysis from Countrywide has revealed that rental growth across Great Britain increased in 2017 to 2.4%, up from from 1.8% in 2016. According to the figures, the average rent ended the year at £960 per month, up by £23 a month from the start of the year.  While rents rose a third faster than they did in 2016, rental growth was still behind than in both 2015 (3.2%) and 2014 (4.9%). Forty-six per cent of landlords increased the rent when re-letting their home, up from 37% in 2016. In a reversal of 2016 when London had the slowest rate of rental growth in England, last year it had the fastest. Over the […]
January 18, 2018

Outlook for UK property market in next 12 months is more upbeat

The 12 month outlook for UK residential property prices and sales is more upbeat with Scotland, the North East of England and Northern Ireland seeing stronger activity, according to the latest industry survey. While agreed transactions fell at a national level in December with sales flat or negative across the rest of the year, surveyors are more optimistic, the survey from the Royal Institution of Chartered Surveyors (RICS). But there is unlikely to be a sudden improvement with sales expectations nationally remaining flat over the coming three months. However, signs of movement are there for a pick up during the year across all regions with London recording its first positive reading since last June. Overall buyer […]
January 23, 2018

Latest analysis reveals further stability in prime central London property market

There are further signs of stability in the prime property market in central London but values are still 3.5% below a year ago, the latest research shows. House prices across prime London continued to soften over the last quarter of 2017 but in the central markets values may be bottoming out, following three years of price falls, according to the market in minutes report from real estate firm Savills. However, the analysis points out that other more domestic parts of the prime London market are under pressure from fragile buyer sentiment. Outside of prime central London, where the average value is just below £2 million, prices fell 1.2% over the fourth quarter of 2017 and are […]
January 24, 2018

Average rents rise in December

The latest data and analysis from HomeLet has revealed that the private rental market ended 2017 with rental price inflation moving marginally higher. According to the report, rents in the UK rose by an annualised average of 1.7% during December, reaching £907 compared to £892 in the same month of last year. Rental price inflation was much more stable over the course of 2017; by contrast, rents in 2016 regularly rose at an annual rate of more than 4% in the first half of the year, before rental price inflation dropped back in the second half. Rental price inflation remains modest by recent standards. In December 2015, rents were up 3.7% on the same month of […]