Direct Property News

February 15, 2018

Rents in the private rented sector in Britain grew steadily, latest official data shows

Private rented sector rents paid by tenants in Britain rose by 1.1% in the 12 months to January 2018, down from 1.2% in December 2017, the latest official index shows. In England, private rentals grew by 1.1%, Wales saw growth of 1.4% while Scotland saw rents increase by 0.3%, according to the data published by the Office for National Statistics (ONS). The index also show that in the private rented sector in London rent grew by 0.2%, some 0.9% below the British 12 month growth rate and the lowest annual growth since October 2010. Excluding London rents were up by 1.6%. Between January 2011 and January 2018 rents increased by 15.6% and this was strongly driven […]
February 20, 2018

Asking prices rising across the UK as sellers make it an active start to 2018

Record home hunter activity is fuelling a rise in asking prices in most regions in the UK, led by the Midlands where they are rising three times faster than the national average, the latest index shows. Overall asking prices increased by 0.8% month on month in February and 1.5% year on year to an average of £300,001, according to the index report from real estate portal Rightmove. All regions have seen asking price rises on a monthly basis except for a marginal fall of just £131 in the South West but prices here are still 3.3% higher than a year ago and there was a 5.1% monthly rise in Scotland. Year on year price growth was […]
February 22, 2018

Home loans to first time buyers in the UK increased in January

The UK residential mortgage market saw a positive start to the year with an increase in the number of small deposit borrowers, usually first time buyers, being approved in January. Some 21% of all approvals went to small deposit buyers up from 18.2% in December and 17.2% in November 2017, according to the latest Mortgage Monitor from e.surv. January’s data is the second full month of data following the Bank of England’s decision to increase the base rate to 0.5%. This rate rise, plus the speculation in the weeks leading up to the decision, has spurred many people into taking action, either looking to take out a mortgage or switching to a new deal, the report […]
February 26, 2018

A 1% interest rate rise would have a major impact on mortgage market in UK

With interest rates expected to rise again in the UK in 2018, new research suggests that a 1% rise could add £830 a year to the cost of the average mortgage. Overall such a rise would add £10 billion to the UK’s mortgage bill and four in 10 borrowers on variable rate mortgages would be the first to feel the effect of the rise as their annual mortgage bill would rise overnight by £4.3 billion, while the 59% on fixed rate deals would be impacted later, as fixed terms expire. Buy to let landlords would pay an additional £2.4 billion, with other home owners paying £7.8 billion, or 76.5 per cent of the total increase, according […]
March 2, 2018

Priciest home sold in England and Wales in January was almost £38 million

There were more than 116,700 sales of land and property in England and Wales that were registered in January, ranging in price from almost £38 million to £15,000. The latest data from the Land Registry show that out of 116,795 sales some 87,753 were freehold, a rise of 23.5% compared to January 2017. Of the total some 16,685 sales were for newly built homes, a rise of 15% compared to January 2017. Some 499 were of properties in England and Wales for £1 million and over, 307 were of properties in Greater London for £1 million and over while three were in Birmingham and three in Manchester. The most expensive residential sale taking place in January […]
March 6, 2018

How Landlords Can Use Pension Funds to Invest in Property

Mark Hempshell talks with Gareth Bertram at The Landlord’s Pension In this report we talked to Gareth Bertram, director at The Landlord’s Pension, which has helped many individuals to take control of pension pots and grow these funds in both hands-on and hands-off ways, particularly in property based investments. Bertram opens: “Many people are aware of SIPPs (Self-Invested Personal Pensions). SIPPs provide you with a much broader set of investments than a traditional pension. Investors have authority over every aspect of their pension yet receive all the same tax benefits. You can invest directly in high yielding property, for example, something you cannot do with a traditional pension. “Fewer people, perhaps, are aware of SSASs or […]