Direct Property News

June 4, 2018

Rents in prime property market in London forecast to rise this year

Rents in London’s prime property market are approaching positive territory, falling by just 0.1% in the 12 months to May 2018, the latest index figures show. The figures from real estate firm Knight Frank also show that in the middle price bracket rents increased by 1%, indicating that in this sector where demand is stronger the lettings market is leading the recovery. But, overall, political and economic uncertainty is continuing to impact on demand in London’s prime lettings market, according to Tom Bill, head of London residential research. However, Knight Frank forecasts that rents will grow by 0.5% in 2018. It follows a 15% decline in the number of properties listed for rent in the 12 […]
June 19, 2018

London and Merseyside have highest number of new homes for sale

Buyers looking for a new home in England are more likely to find one in London, Merseyside and Greater Manchester as they are the locations with the highest number of new builds. New research also shows that it is harder to find a new home to buy in Durham where just 23 new homes were completed during the whole of 2017, followed by the Isle of Wight with 24, Rutland with 53, Herefordshire with 93 and Bristol 144. This in contrast to London where 8,522 new homes were completed in the same 12 month period, followed by 1,978 in Merseyside, 1,280 in Greater Manchester, 1,132 in Surrey and 964 in Hampshire. Online housing agents Sellhousefast analysed […]
July 3, 2018

Prime country house market in the UK seeing prices rise

Prime country house prices in the UK increased by 0.9% in the first half of 2018 but it has been a mixed picture for this sector of the property market with notable regional variations, the latest index shows. On an annual basis, prime country house prices have seen an increase of just 0.7% but looking longer term prices are some 10% higher than five year ago, according to the data from Knight Frank’s prime country house index. But a higher level of annual price growth was recorded in the prime markets of the Midlands and the North, both up 3% year on year and a handful of urban markets have outperformed, with Harrogate, Bristol and Cheltenham […]
July 10, 2018

Builders and developers say UK government will miss home construction target

As yet another Housing Minister takes up the brief, research shows that the majority of house builders and developers believe that the Government is likely to miss building targets. Some 86% think that the maximum achievable is 250,000 a year, well below the Government target of 300,000 a year by 2022, according to the annual house building report from real estate firm Knight Frank. Just 1% of respondents, which include more than 100 developers that account for almost three quarters of all newly built homes across the country each year, think surpassing 300,000 additional homes each year is possible by 2022. It highlights the task ahead for new Housing Minister Kit Malthouse, the 17th politian to […]
July 13, 2018

Asking prices increased strongly in some parts of the UK in year to July

Asking prices in the year to July 2018 increased strongly in some parts of the UK, most notably in the North and West of England, the Midlands and Wales, the latest index shows. The biggest annual growth in asking prices was in Wales at 6.4%, taking the average to £202,378, followed by a rise of 5.4% in the West Midlands to £247,925, a rise of 5.3% in Yorkshire and the Humber to £196,907 and a rise of 5.1% in the North West to £202,248. There was also strong annual growth of 4.7% in the East Midlands to an average of £233,291 but elsewhere asking prices fell or was muted, the data from the index shows. […]
July 17, 2018

Demand for property rises in London, but Wales and Scotland have largest increase

Demand for property has lifted in London but commuter locations around the capital have seen a slowdown while Wales and Scotland outperform the rest of the UK, the latest index shows. Overall, the national hotspots index from hybrid estate agent Emoov, which calculates the number of properties sold as a percentage of homes listed, reached 38%, up 8% across the country, but up just 3% in England. While in Scotland it rose by 8% and in Wales by 10%. It also shows an improvement for London with demand up 2% since the beginning of 2018. But in commuter zones demand fell by 8%. While Edinburgh is the most in demand city at 62%. Wales recorded the […]