Direct Property News

August 9, 2018
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Gender Equality in the Property Investment Industry

With many industries facing scrupulation over gender equality, property investment has been considered to be no exception. However, new research from Birmingham based property specialists SevenCapital, has suggested that women are just as likely to invest. SevenCapital conducted a survey of over 1,000 people in the UK, asking them what they have invested in and what they would consider as investment potential. A landslide of 40% of the votes went towards property investment, with people saying that housing would be their first choice, if money was not an issue. 19% of those surveyed also confirmed that they already have invested in property. Looking specifically at genders, 19% of males said that they had invested in property…
August 9, 2018
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Survey reveals aspiring first time buyers don’t understand stamp duty

Despite stamp duty changes which are beneficial for first time buyers, millions of aspiring home owners in England are in the dark about the property tax, new research has found. Almost a third, some 31% of English first time buyers don’t know if stamp duty changes are good for them while 13% wrongly think that the change could save them more than £5,000, according to the study from online broker L&C Mortgages. The survey found that 52% think they will benefit from the stamp duty abolition when they buy their first home. Of those aiming to buy a property priced between £125,000 and £500,000, some 42% either thought that stamp duty relief would not benefit them,…
August 9, 2018
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Property industry reacts to interest rate rise

The Bank of England has announced that it has raised interest rates by 0.25% to 0.75% – the highest level since March 2009. The move, widely expected by economists, is only the second time in a decade that rates have moved upwards and will affect around 3.5m households who have variable or tracker rate mortgages. As ever, the property industry was quick to react. Here’s what theyre saying. Russell Quirk, founder and CEO of Emoov.co.uk, commented: “Mark Carney really is pulling the rug from beneath the nation’s aspiring and existing homeowners. The Government’s failure to build any meaningful level of housing stock is pushing prices ever higher and now the Bank of England has hit them…
August 9, 2018
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Average residential rents reach a new monthly high in London

The average rent in the UK increased by 1.3% in the 12 months to July while in London alone they were up by 3.3%, surpassing £1,600 a month for the first time, the latest index shows. UK wide the average rent is now £937 but when London is excluded it is £777, up by 1% on last year, according to the index data from tenant referencing firm HomeLet. At £3,615, the average London rent has set a new record. The region with the largest year on year increase in rent was Northern Ireland with a 4.5% increase in average rental prices while month on month the biggest increase was 2.6% in the South East. Whilst nine…
August 3, 2018
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Underlying demand from buyers is helping prime London market recover

Underlying demand from buyers in central London’s prime property sector is trending upward as sellers adjust asking prices to suit the current market, the latest index suggest. Overall prices in the central London market fell by just 0.2% in June and by 0.8% quarter on quarter. They are now 1.9% below where they were in June 2017, according to the index from real estate firm Knight Frank. In the prime outer London market prices fell 0.5% month on month, 1.2% on a quarterly basis and were down by 4% year on year, the data also shows. Tom Bill, head of residential London research at Knight Frank, pointed out that the number of new prospective buyers in…
July 31, 2018
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Quarterly property review suggests confidence is still building un UK residential market

Confidence is building in the UK’s residential property market with house prices stable, no significant discounting and average asking price in London up 3.1%, says a new analysis. Smaller homes are the most popular and new instructions are up nearly 7% year on year while the use of online estate agent is rising, according to the fifth quarterly home mover report from TwentyCi. It also points out that in the second quarter of 2018 interest rates remained on hold, and a strong labour market and wage growth finally picking all contributed to an increasing number of home owners entering the market. A review of 2017 listed prices compared to the price actually achieved shows an average…
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