UK Property Market News

September 3, 2020

Good time to be a landlord as record number of tenants seek rental homes

More private rented sector tenants than ever are looking for accommodation in the UK. However, there’s also been a surge in rental homes available, meaning landlords must be competitive. The UK rental market is continuing to gather momentum, says a new report released by ARLA Propertymark. The regulatory body has compiled a report showing a surge in tenant demand across the country, making July the strongest month on record for prospective tenant numbers. According to the Private Rented Sector Report, letting agents had an average of 97 newly registered tenants in July. This is up markedly from June’s figure of 79 new tenants per branch. In January this year, the top figure recorded was 88 prospective […]
September 7, 2020

10 reasons to invest in UK property now despite the recession

Since the UK began to emerge from lockdown, the property market has reacted positively, with recent reports confirming a ‘mini boom’ in activity and the average time to sell for homes coming to market reducing by 31%, according to SevenCapital. But how is this possible when the previous recession saw property prices crash? The UK developer says the 2008 recession was ‘financially-driven’, while today’s recession is driven by a public health crisis. This means the government made a conscious decision to shut down certain markets, whilst putting measures in place to support businesses and individuals affected. Measures were also introduced to help prop up and restart the housing market. While it’s uncertain if this quick recovery […]
September 10, 2020

UK housing market rebound has been faster than its decline post-Covid

A recent report shows that housing market performance has fared than expected over recent months. Can we expect this to continue as the government’s aid schemes come to an end? Property market specialist TwentyEA has compiled a series of data showing how the Covid-19 outbreak has affected UK property. After the market ground to a halt, many expected buyers and sellers to take a cautious “wait and see” approach. However, both TwentyEA’s data and the most recent national house price indices show that the sector is recovering quickly. TwentyEA’s research shows, unsurprisingly, that new listings plummeted once lockdown was in place. Numbers went from around 5,000 to 6,000 new instructions per day, to less than 1,000. […]
September 11, 2020

UK rents further increase, with average monthly cost at £985

The HomeLet Rental Index figures for August 2020 have now been released. The headlines from this month’s report are: The average rent in the UK is now £985, up 2.1% on last month, and 1.5% on last year. When London is excluded, the average rent in the UK is now £825. This is up 2.1% on last month, and 2.9% on last year. Of the 12 regions monitored, 11 showed an increase in rental values between August 2019 and August 2020, with two of those regions seeing an increase of more than 5%. The South West shows a yearly increase of 5.5% between August 2019 and August 2020. Average rents in London are down YOY, showing a 2.1% fall between August 2019 and August 2020, the fourth decrease in annual variance in subsequent months. However, average rental […]
September 15, 2020

International investors clambering for UK property amidst global uncertainty

COVID-19 cases might be steadily decreasing, though this does not mean we have overcome all of the fundamental challenges posed by this global pandemic. Market uncertainty has made it difficult for investors to plan for the future. While it looks as though we are on the path to recovery, there is nothing to suggest a second spike in infections is completely off the table. What’s more, we are only beginning to realise the economic ramifications of the coronavirus. It seems as though the majority of the world’s major economies will stay in a recession for at least the rest of 2020. GDP levels in advanced economies are expected to remain around 3-4% lower than their pre-pandemic […]
September 17, 2020

London house prices:all-time high for property in post-lockdown boom

Surging London house prices have hit a new all-time high as the remarkable post lockdown property boom gathers momentum. The average cost of a home in the capital jumped 3.6 per cent in June alone to reach £490,495, almost £2,000 above the previous peak in July 2017. The annual rate of increase almost doubled from 2.14 per cent to 4.25 per cent, according to Land Registry figures today. Property experts said the pace is likely to accelerate further since the summer with the stamp duty holiday on the first £500,000 of a purchase fuelling further rises after it came into force in July. However, the increases will dismay first-time buyers struggling to get a toe hold […]