Direct Property News

September 14, 2018

Parliamentary event examines future of PRS

The Secretary of State for Housing has attended the launch of a collection of essays which examine the future of the Private Rental Sector an event held in Parliament. Provided by organisations such as Shelter, the Chartered Institute of Housing, the Institute for Public Policy Research and Crisis representing tenants, landlords, enforcing bodies and think tanks, the essays ahead to where they believe the sector should be heading in the next 20 years. Co-ordinated by the Residential Landlords Association (RLA), the essays have been launched at an event in the House of Commons to mark the RLA’s 20th anniversary. Speaking at the event was the Housing Secretary, James Brokenshire MP and the Shadow Housing Secretary, John […]
September 14, 2018

New £1 billion fund announced for building new homes in England

The Government and Barclays have announced a £1 billion housing development fund to help deliver thousands of new homes across England. Under the agreement loans ranging from £5 million to £100 million, which will be competitively priced, will be available for developers and house builders who are able to demonstrate the necessary experience and track record to undertake and complete their proposed project. Funding is open to new clients as well as existing Barclays clients, and will put greater emphasis on diversifying the housing market, as at present almost two thirds of homes are built by just 10 companies. A key priority of The Housing Delivery Fund is to support small and medium sized businesses to […]
October 2, 2018

Plan announced for foreigners to pay more property tax in the UK

Foreigners who buy property in the UK are set to pay a higher rate of stamp duty, the tax payable on purchase, it has been announced. Prime Minister Theresa May told her Party Conference that it is part of the overall strategy to tackle the housing crisis amid concerns that foreign buyers have been using property as a way of stashing money and pushing up prices, particularly in London. There will be a consultation period but it is likely that anyone buying a property who does not pay tax in the UK will find themselves paying a higher rate of stamp duty. Research from York University estimated that 13% of new London homes were bought by […]
October 9, 2018

House price growth in the UK is steady, data from latest lender index suggests

House prices in the UK were 1.8% higher in the third quarter of 2018 than in the previous three months and 2.5% higher than the same period in 2017, the latest lender property index shows. The data from the Halifax also shows that the annual growth rate slowed from the 3.7% recorded in August and on a monthly basis, house prices fell by 1.4% in September, the second fall in a row, taking the average price to £225,995. Russell Galley, managing director of the Halifax, pointed out that the figures show that house price growth is stable. ‘This is set amongst mortgage approvals and completed house sales remaining broadly unchanged, although a gradual pickup in wage […]
October 16, 2018

Rents rise across Britain, with London seeing first annual rise for several months

Residential rents across Britain increased by 1.6% year on year in the 12 months to Hamptons International report which also looked at what properties landlords are buying. A breakdown of the figures shows that in London rents rose 0.1% year on year, the first annual rise in four months while Wales saw the strongest rental growth with average rents up 3.9% year on year, followed by the East up 2.8% and the Midlands up 2.4%. The data also reveals that in the first half of 2018 landlords spent £12.1 billion purchasing rental properties, some £5.2 billion or 30% less than in the first half of 2015 when the total value of homes bought for buy to […]
October 17, 2018

Report reveals the major changes in the UK housing market in last five

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact. Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years. It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%. Broadband is now seen as essential for the majority of home movers, up from […]