Direct Property News

June 21, 2018
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Two years on since the EU referendum, how has the property market fared?

23 June 2018 marks two years since the UK made the historic decision to leave the European Union (EU). The implications of the vote were almost immediate; on the morning of the result being announced, David Cameron announced his resignation as Prime Minister, which was followed soon after with the appointment of Theresa May as his replacement and the person ultimately responsible for managing the UK’s withdrawal from the EU. Since then, the UK has witnessed a series of profound political events – in March 2017, Theresa May formally triggered Article 50, signalling the beginning of a two-year countdown to a final date for Brexit. This was followed soon after by a general election that resulted…
June 19, 2018
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London and Merseyside have highest number of new homes for sale

Buyers looking for a new home in England are more likely to find one in London, Merseyside and Greater Manchester as they are the locations with the highest number of new builds. New research also shows that it is harder to find a new home to buy in Durham where just 23 new homes were completed during the whole of 2017, followed by the Isle of Wight with 24, Rutland with 53, Herefordshire with 93 and Bristol 144. This in contrast to London where 8,522 new homes were completed in the same 12 month period, followed by 1,978 in Merseyside, 1,280 in Greater Manchester, 1,132 in Surrey and 964 in Hampshire. Online housing agents Sellhousefast analysed…
June 15, 2018
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Landlords find that the private rented sector in the UK is still a worthwhile investment

Even so called accidental landlords, for example those who enter the sector after inheriting a property, are not leaving with many even adding to their business by expanding their portfolio. One of the main reasons for staying is that the private rented sector makes up a large part of the UK’s lettings market and with a shortage of houses to buy is likely to continue to do so. Indeed, new research from Foundation Home Loans shows that 17% of existing landlords plan to increase the size of their portfolio in the next 12 months and a growing number overall are accidental landlords. Some 14% of existing landlords describe themselves as ‘accidental’ due to a change in…
June 13, 2018
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Two million tenants in UK could see rents rise this year, research suggests

Two million tenants across the UK could be hit with rent rises in 2018 as 40% of landlords are planning to increase what they charge in the private rented sector, new research suggests. If this number of landlords carry out their plans that would mean rent rises totalling some £46 million a month, according to the figures from online letting agent MakeUrMove. With the average rent just over £900 a month, the firm says that a rise of 2.5% would mean tenants paying some £23 a month more, totalling £414 across a typical 18 month long tenancy. Tenants will feel the impact most severely in London where the average rent is £1,274, as half of landlords…
June 8, 2018
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Homes worth a £1 million or more selling faster in many parts of the UK

Homes in the UK worth £1 million or more are selling more quickly in Cambridge than any other part of the country, twice as fast as the national average, new research reveals. Overall the average time it take to secure a buyer in this sector of the housing market is 99 says, up five days than last year but in Cambridge it is just 45 days, according to the analysis from property portal Rightmove. Indeed, the top five fastest selling million pound locations are all outside of London with Edinburgh and Harpenden in joint second place taking 53 days each, followed by Bristol at 54 days. The research also shows that in four out of 11…
June 7, 2018
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Private sector rents in UK up 2% in year to May 2018, latest index reveals

Rents in the UK’s private rented sector increased by 2% in the 12 months to May 2018 to an average of £919 per month, the latest index shows. However, when London is excluded, the average rent in the UK is now £763, up by 1.3% on last year, according to the data from the Homelet index. Indeed, average rents in London are £1,586, up 5.6% on last year, which is the highest regional year on year increase identified in this month’s figures. Eleven of the 12 regions covered by the index recorded year on year rises in rents. Only Wales saw rents fall on an annual basis, down by 0.2% to an average of £604. But…
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