UK Property Market News

July 17, 2020

“Strong and stable” demand for UK buy-to-let properties

More than two-thirds of mortgage brokers expect UK buy-to-let business to be either stable or growing over the next 12 months. What makes the sector so resilient to adversity? The latest research published by Paragon Bank shows a continued optimism among professionals within the buy-to-let industry. Despite the impact of coronavirus on the global economy, the results show that appetite within UK buy-to-let is still high. In a survey of UK mortgage brokers, 41% said they expected buy-to-let business to increase for them over the next year. More than a quarter (28%) said they expected buy-to-let mortgage demand to remain stable. Despite ongoing uncertainty caused by coronavirus, what remains unchanged is the need for rental property. […]
July 21, 2020

Britain’s housing market sees post-lockdown mini-boom

With homes now back on the market, estate agents say inquiries are ‘through the roof’ Britain’s housing market is enjoying a post-lockdown mini-boom fuelled by this month’s stamp duty cut, pushing asking prices to a record high, according to the property website Rightmove. With homes throughout Britain finally able to come to market again, some estate agents are reporting that buyer inquiries “are through the roof”, with property deals going to sealed bids, as a combination of pent-up demand being released, homeowners rethinking their lifestyles and the stamp duty giveaway come together to create a surge in activity. “Britain is getting moving again,” said Rightmove. Its latest figures show that the average price of a property […]
July 24, 2020

UK Property: Increasing sales numbers provide evidence of housing market recovery

TODAY’S official figures confirm a surge in property sales in June and lend further evidence to a recovery for the housing market. The latest Residential Transactions report was released by HMRC this morning and contains details of the numbers of completed property sales in June. On a seasonally adjusted basis, the total number of homes sold in the UK last month was 63,25 which reflects a 31.7 percent increase on the number of property deals completed in May. However, this was 35.9 percent lower than in June 2019, when 98,670 homes were sold. Taken at face value, these figures show that a housing market recovery was well underway before the Stamp Duty Holiday in England was […]
July 27, 2020

Two in five will ‘never invest’ but property still beats stocks and shares

Two in five people will never invest their money, even if they had plenty of cash, but more than a third (36 per cent) of all investors would consider property investments, while one in six said that they would put their money in the stock market. According to a new survey commissioned by Hargreaves Lansdown, women are more reluctant to invest than men, with 43 per cent of female respondents saying that they wouldn’t invest. After property and the stock market, the most popular alternative investment is coins, followed by wine and cars. “Our love affair with property knows no bounds, so it’s no shock that when people are prepared to invest, they favour property over […]
July 29, 2020

UK house prices rise in June

The annual rate of UK house price growth edged up to 2.7% in June, after rising 0.2% on the month according to the latest data by Zoopla. Buyer demand has seen strong growth since housing markets reopened, however the number of new homes being listed has not experienced the same increases. This is creating an imbalance of low supply and high demand and is contributing to the house price growth seen in Zoopla’s data. Manchester, Liverpool and Sheffield are in the top six cities for levels of annual house price growth. According to the data, London has seen the biggest market changes since the stamp duty holiday was implemented by the Chancellor, as sales jumped by […]
August 13, 2020

Mini house-buying boom leads to highest ever monthly price

House prices hit a new all time high in July as the property market gradually reopened, after being put on pause during the coronavirus lockdown. According to the latest Halifax House Price Index the average price of a home was £241,604 last month, 1.7% higher than June’s £237,834. Prices are 3.8% higher than July 2019. Halifax managing director Russell Galley said pent-up demand and a lack of available houses had combined to push up prices. The government’s cut in stamp duty had also boosted buyers’ enthusiasm, he said. Last month Chancellor Rishi Sunak announced a temporary suspension of stamp duty on property sales up to £500,000 in England and Northern Ireland. These latest figures mirror recent […]