Direct Property News

December 18, 2018

Average rents up by 1.1% in Britain in 12 months to November 2018

The average rent of a newly let in Britain increased by 1.1% in the 12 months to November to stand at £968 per calendar month, the latest monthly lettings index shows. Every region recorded a rise in average rents with the East of England recording the strongest growth at 2.9% to £958, according to the data from the Hamptons International index. This was followed by Scotland with a rise 2.5% to £663, Wales up by 1.9% to £658, the South West of England up 1.7% to £801, and the North of England up 1.5% to £639, in the Midlands by 1.3% to £685, in the South East of England they were up by 1.2% to £1,034 […]
December 14, 2018

Annual house price growth in November holds steady

The latest data and analysis from Nationwide has revealed that, on the whole, the housing market appears to be bearing up under the continued economic and political pressure that the UK is experiencing at the moment. According to the figures, annual house price growth in November has edged up to 1.9% – a ‘modest’ 0.3% increase when compared to the previous month. Robert Gardner, Nationwide’s Chief Economist, explains: “While house price growth picked up a little in November, it remained relatively subdued at 1.9%, up from 1.6% the previous month. Looking forward, much will depend on how broader economic conditions evolve. In the near term, the squeeze on household budgets and the uncertain economic outlook is […]
December 11, 2018

Majority of first time buyers in England have benefitted from stamp duty cut

Three quarters of first time buyers in England have benefited from the changes to stamp duty thresholds for first home purchases introduced a year ago, according to new research. An analysis of first time buyers activity since the change was introduced by the Chancellor of the Exchequer in November 2017 by reallymoving also shows that first time buyers in London and the South East have benefitted the most as prices are higher. Last November the Government scrapped stamp duty for first time buyers on properties up to the value of £300,000, while those spending up to £500,000 now pay no stamp duty on the first £300,000 and 5% on the remaining amount. Following the introduction of […]
December 7, 2018

Lack of supply and increasing demand could see rents rise in London in 2019

There was a noticeable increase in tenant demand in the London lettings market in 2018, outstripping supply for much of the year, setting the scene for rent rises next year, according to the latest annual overview. Supply was hit by a growing number of landlords selling their properties, often to owner occupiers. This trend was not only evident across the London private rental market, but nationwide, says the report from letting agents Chestertons. Despite this, there was still plenty of activity with an increase in lets agreed over the summer months due to high demand and the number of agreed lets in the third quarter of 2018 was over 60% higher than in the same quarter […]
December 4, 2018

Property prices in the UK up marginally in November

Property prices in the UK edged up 0.3% in November to an average of £214.044 and are 1.9% above the same month a year ago, the latest lender index shows. Looking forward, much will depend on how broader economic conditions evolve, according to Robert Gardner, Nationwide’s chief economist. ‘In the near term, the squeeze on household budgets and the uncertain economic outlook is likely to continue to dampen demand, even though borrowing costs remain low and the unemployment rate is near 40 year lows,’ he said. ‘If the uncertainty lifts in the months ahead and employment continues to rise, there is scope for activity to pick-up through next year. The squeeze on household incomes is already […]
November 30, 2018

Average rents in England and Wales up 2.2% in 12 months to October 2018

The average rent across England and Wales increased by 2.2% in the 12 months to October 2018 to £861 with little change from previous months, the latest lettings survey shows. Seven out of 10 regions posted annual rent rises, led by the South West with an increase of 4.4% year on year to £686 while rents in Wales were flat at £588, according to the Your Move rental tracker index. The data also shows that rents fell in the East of England and London, down 0.4% and 0.9% respectively. London which remains the most expensive place to rent a property, with the average rent at £1,271. In the South East, which was the only one of […]
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