Direct Property News

November 16, 2018

Annual price growth in key global cities at lowest level for almost six years

In the last year, the price of a homes in the prime property market key cities across the world increased by 2.7% on average, the weakest annual growth for almost six years, new index figures show. Of the 43 cities tracked by the Knight Frank global residential cities index, the strongest year on year rise was in Singapore with growth of 13.1%, followed by Edinburgh up 10.6%, Madrid up 10.1% and San Francisco up 9.5%. At the other end of the index Vancouver saw prices fall by 11.3% year on year, price were down by 6.3% in Istanbul, Stockholm and Taipei, down 3.8% in Dubai and down 1.4% in Nairobi. The index report says that growth […]
November 12, 2018

Prices rising again month on month in England and Wales, latest index shows

Annual price growth in England and Wales continues to slow but month on month values are rising again with growth led by the East and West Midlands, the latest index shows. House prices rebounded in October, up 0.4% to an average of £304,433, the first monthly increase since February while year on year growth fell to just 1%, according to the latest house price index from Your Move. Despite this, most regions continue to show growth, the exceptions being both the South East and North East, which show modest falls on an annual basis of 0.1% and 0.2% respectively. However, the report points out that with overall annual price growth well below the rate of inflation […]
November 9, 2018

Brexit continues to dominate top property industry concerns

As Brexit looms, a new survey commissioned by Crowe UK identifies the biggest concerns facing the UK property industry and provides a unique snapshot of views across the sector. Crowe’s survey, which asks property developers and investors across the country for their views on the state of the market in 2018 and outlook for the future, reveals UK businesses are increasingly concerned about the impact the current political and economic uncertainty will have on the industry. Brexit: reality bites With daily headlines and speculation about the country’s preferred vision, it comes as no surprise that Brexit negotiations and the ultimate shape of the UK’s departure from the European Union is now the greatest concern to the […]
November 6, 2018

Half of London’s new build pipeline now in East and South East of the city

More than half, some 53% of the housing units in London’s new build pipeline are to be found in East and South East of the city, new research shows. There are now 86,196 new build units in the pipeline in East London, a third of London’s overall total and 7% more than the same period last year, according to the study from Kinleigh Folkard & Hayward (KFH). East London leads the way in new build pipeline with 42% or 25,573 more units in the pipeline than the South East. However, the South East accounts for 22% of the total pipeline of 60,623 units, meaning the eastern side of the city is the home to more than […]
November 2, 2018

UK house prices set to rise by almost 15% in 5 years, led by the North, Wales and Scotland

UK house prices are set to rise broadly in line with incomes over the next five years, but the traditional North/South divide will turn on its head, according to new outlook forecasts. While overall prices are predicted to rise by 14.8% in the UK from 2019 to 2023, the Midlands, the North and Scotland are expected to see the strongest increases, according to the analysis from international real estate adviser Savills. But Brexit will continue to impact sentiment over the short term, particularly in London and its commuter belt, but local market affordability is expected to determine the pattern of price growth over the longer term, the firm says. The forecast also suggests that the range […]
October 30, 2018

Brexit fears fail to dampen positive property market

The latest analysis of the UK housing market from independent estate agent, haart, has revealed that British buyers and sellers appear undeterred by warnings from the Treasury, IMF and the Bank of England about the impact of the vote to leave. The research compares the Treasury’s “cautious” economic forecast for the two years following the vote to leave published in May 2016, to the realities of the UK property market today, five months prior to the UK’s official exit date. The paper which focused on the immediate economic impact on the vote to leave and the two years that follow predicted doom and gloom for the property. Presented by former Chancellor of the Exchequer, George Osborne, […]
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