Direct Property News

November 25, 2015

XI The Plaza a hit in the buy-to-let sector

RECORD numbers of buy-to-let investors have been queueing up for properties at the coming XI The Plaza in Manchester’s Ancoats and New Islington area. Knight Knox says 196 apartments have been sold since the launch of the development on October 20, the highest number it ever offloaded in such a short time frame. Comprising a variety of one, two- and three-bedroom apartments, in addition to seven three-bedroom townhouses, the £32m development will begin construction in January 2016, with completion expected in autumn 2017.
November 25, 2015

Investment thriving in the north-west of England

A survey has revealed that the north-west is the hottest region outside of London for overseas investment. According to the research, which spoke to decision makers within the industry, participants believe the north-west region would only be pipped by the south-east, with investments split between both commercial and residential properties. Of those surveyed, 33% said that over half of all investments will come from abroad in the next 12 months. On the other hand, two-thirds of respondents believe that those buyers priced out of London will turn their attentions towards growing regions instead.
November 9, 2015

1,000 jobs for Leeds’ South Bank as Burberry invests £50m

BURBERRY is to invest £50m and ultimately create more than 200 jobs as its moves its manufacturing facilities from Castleford and Cross Hills, near Keighley, to Leeds’ South Bank. More than 1,000 people are expected to work at the manufacturing and weaving facility at Temple Works after it is completed in 2019. The luxury brand currently employs 700 people in Castleford, where its trench coats are handmade, and 70 people work at Burberry Mill at Cross Hills weaving the gabardine fabric. Those workers will be relocated, while the company said it would be “facilitating [the] regeneration for the local communities” of its current factories. Burberry chief executive officer Christopher Bailey said: “Burberry is a proudly British…
November 6, 2015

Greater Manchester leaders announced for Northern Powerhouse event

Source: Bdaily Leaders from across Greater Manchester have been announced as speakers at an upcoming Northern Powerhouse conference in Salford. Set to take place in the Lowry Gallery next week, the event will feature Manchester Airport MD Ken O’Toole and Manchester City Council leader Sir Richard Leese as headline speakers. The conference will also include talks from the managing director of Manchester-based Frontier Public Relations, David Innes-Edwards, as well as Dr Kieron Flanagan, a senior lecturer in Science and Technology Policy at the University of Manchester. Ken O’Toole commented: “The airport has always been an invaluable economic asset for the North of England, and for many people in the region, whether they are flying for leisure…
November 6, 2015

Britain’s growing population will push house prices up

Source: The Guardian It might seem like an obvious comment, but that doesn’t make it any less important. Britain’s growing population will push house prices higher and higher. No cyclical boom and bust, just onwards and upwards. The observation was made by the analytical arm of the credit ratings agency Moody’s and explains why, along with the limited capacity for private housebuilding, an investment in housing will remain the preferred option of every UK household. The starting point is the forecast from the Office for National Statistics that predicted a 4.4 million rise in the UK’s population in the next decade from last year’s 64.6 million, eventually reaching 70 million in 2027. Moody’s Investors Service is…
November 6, 2015

UK rent rises 2.7% says ONS

Source: Property Reporter The latest report from The Office For National Statistics on private housing rental prices has found that over the last 12 months up to September 2015, private rental prices paid by tenants in Great Britain have risen by 2.7%. This increase was 2.8% in England, 1.6% in Scotland and 0.5% in Wales across the 12 months period to September 2015 with London witnessing the highest increase in rental prices, growing by 4.1% over the year to September 2015, with all other English regions seeing a rise also. Andrew Bridges, managing director of London estate agents Stirling Ackroyd, comments: “Britain’s rental market is being powered by London, as the capital’s allure continues to draw…
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