Direct Property News

August 25, 2020

UK housing market rebound continues into August as demand keeps rising

The snowball effect of the UK housing market reopening in May is still gathering pace. But there’s much more behind the boom than the stamp duty cut, new research reveals. Demand across the property industry is continuing its steep ascent, according to the latest research. Buoyed by the government’s stamp duty cut, low interest rates and a surge of new sellers, buyers are keen to make their move in the sector. Numerous sources show how the UK housing market has been remarkably resilient throughout the coronavirus crisis. The latest index from Nationwide, for example, indicates an annual house price rise of 1.5% in July. Month-on-month, there was a steep increase of 1.7%. HMRC data also shows […]
August 21, 2020

UK housing market ripe for young property investors after stamp duty cut

A recent spike in buyer enquiries shows how the stamp duty holiday is already boosting the market. Has the government done enough for young property investors? Property investors aged between 18 and 34 are the most likely to take advantage of the government’s recent stamp duty change, new research reveals. According to a survey by FJP Investment, 43% of this age group plan to invest before next April. Across all investor age groups, almost a quarter (24%) intend to buy one or more properties before tax rates change. Data from Rightmove and a number of other property firms and agencies shows that interest in the UK property market has soared in recent weeks. The new temporary […]
August 19, 2020

Property Investment Tips | 10 Tips you NEED TO KNOW

The property market is seen as a relative safe haven for investors. But that doesn’t mean there aren’t pitfalls to watch out for. Peter Mindenhall of IPINglobal tells us more. There are strategies and guidelines that can be followed, along with proactive observance of the market, which can boost your chances of being a successful property investor. In times of economic difficulty, having a revenue-generating property portfolio can provide you with that boost to see you through the darkest financial days. Here are some tips to help you in your investment process. 1. Keep a clear focus It is essential to determine what you want from your property investment. Is it: Asset(s) for your business, for […]
August 18, 2020

UK housing market sees busiest month in ten years

The UK housing market saw £37bn worth of property sales agreed in July, representing the busiest month for home buying since data was first tracked by Rightmove. Rightmove’s weekly sales agreed figure was also up by 60% compared to the same week in 2019, as buyers continue with their home-moving plans. There were unseasonal all-time highs for new seller asking prices in seven regiong, with rising popularity of countryside locations driving prices in places like Devon and Cornwall. Miles Shipside, property expert at Rightmove, said: “More property is coming to market than a year ago in all regions, and at a national level the new supply and heightened demand seem relatively balanced. However, those expressing most […]
August 14, 2020

RICS: Stamp duty holiday helping to lift demand

The stamp duty holiday introduced from the 8th July is helping to lift demand, The RICS UK Residential Market Survey suggests. In July a net 75% of surveyors saw a rise in new buyer enquiries, the second month in a row that demand has rebounded significantly. A net 59% also saw instructions rise, up from 41% in June. RICS noted that the stamp duty holiday is having a big impact on demand based on anecdotal evidence. Ross Counsell, chartered surveyor and director at property buyers, Good Move, said: “Today’s RICS statistics reveal the UK housing market gained further momentum last month which showcases the ongoing recovery – something we’re all happy to hear after a turbulent […]
August 13, 2020

Mini house-buying boom leads to highest ever monthly price

House prices hit a new all time high in July as the property market gradually reopened, after being put on pause during the coronavirus lockdown. According to the latest Halifax House Price Index the average price of a home was £241,604 last month, 1.7% higher than June’s £237,834. Prices are 3.8% higher than July 2019. Halifax managing director Russell Galley said pent-up demand and a lack of available houses had combined to push up prices. The government’s cut in stamp duty had also boosted buyers’ enthusiasm, he said. Last month Chancellor Rishi Sunak announced a temporary suspension of stamp duty on property sales up to £500,000 in England and Northern Ireland. These latest figures mirror recent […]
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