Direct Property News

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 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 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 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 […]
August 28, 2020

U.K. Housing Market is Strongest in Five Years

Activity in the luxury segment is helping boost new listings and average sales prices, according to Zoopla The U.K. housing market is stronger than it’s been in five years, as people rush to rearrange their living arrangements in the wake of the pandemic, according to a new report. The number of agreed-to sales across Zoopla, one of the country’s major listing sites, is 76% higher than the five-year average, with strong activity at the higher end driving deals in and around London, the website said in a report released Thursday in the U.K. So far, the deepest recession on record has yet to slow home shoppers. Since the British housing market began to reopen in mid-May, […]
August 27, 2020

The birth of Build to Rent – how did it become the PRS’s biggest trend?

Before the pandemic struck, Build to Rent (BTR) was undeniably the property market’s fastest-growing trend. Many expect it to recover quickly, too, as returns are solid enough to have nervous institutional investors happily ploughing money into what is seen as something of a safe haven. With commercial, office, retail and industrial all set to suffer as a result of Covid-19, residential’s popularity among pension funds, private equity firms and other major financial players is likely to soar. In a recent three-part series, we explored the investors, developers and property managers driving the BTR boom, while CBRE’s latest research suggests that BTR will bounce back sharply in 2021 and outperform other sectors over the next five years. […]
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