Direct Property News

March 14, 2018

Research reveals big jump in UK home owners renovating rather than moving

The number of home owners in the UK choosing to stay put and invest in their existing property instead of moving has soared in the past five years, according to a new report. In 2013 just 3% of homeowners took the decision to improve instead of move, but this has increased to 15%, rising to 26% amongst those aged 18 to 34, the research from specialist insurer Hiscox shows. It suggests that a subdued and costly property market has been a clear catalyst for this trend. When questioned, some 25% of home owners cited prohibitively high property prices as the reason while 13% said stamp duty, 15% a sluggish property market, 8% potential interest rate rises…
March 12, 2018

Average house prices in England and Wales see biggest rise for five months

Average house prices in England and Wales increased by 0.5% in January, the biggest rise in five months, with several places reaching new peak average prices, the latest index shows. The North West has the highest annual price growth at 4.6% and the East Midlands, the South West and Wales also recorded new peak average prices with growth of 2.5%, 4.1% and 3% respectively. However, overall annual price growth continued to slow, slipping to 0.6% from 0.7% in January 2018, the LSL Property Services/Acadata monthly index shows. And the South East and London are weighing on the market. If they are excluded annual price growth reached 2.5%. It means that the average value of a home…
March 6, 2018

How Landlords Can Use Pension Funds to Invest in Property

Mark Hempshell talks with Gareth Bertram at The Landlord’s Pension In this report we talked to Gareth Bertram, director at The Landlord’s Pension, which has helped many individuals to take control of pension pots and grow these funds in both hands-on and hands-off ways, particularly in property based investments. Bertram opens: “Many people are aware of SIPPs (Self-Invested Personal Pensions). SIPPs provide you with a much broader set of investments than a traditional pension. Investors have authority over every aspect of their pension yet receive all the same tax benefits. You can invest directly in high yielding property, for example, something you cannot do with a traditional pension. “Fewer people, perhaps, are aware of SSASs or…
March 2, 2018

Priciest home sold in England and Wales in January was almost £38 million

There were more than 116,700 sales of land and property in England and Wales that were registered in January, ranging in price from almost £38 million to £15,000. The latest data from the Land Registry show that out of 116,795 sales some 87,753 were freehold, a rise of 23.5% compared to January 2017. Of the total some 16,685 sales were for newly built homes, a rise of 15% compared to January 2017. Some 499 were of properties in England and Wales for £1 million and over, 307 were of properties in Greater London for £1 million and over while three were in Birmingham and three in Manchester. The most expensive residential sale taking place in January…
February 26, 2018

A 1% interest rate rise would have a major impact on mortgage market in UK

With interest rates expected to rise again in the UK in 2018, new research suggests that a 1% rise could add £830 a year to the cost of the average mortgage. Overall such a rise would add £10 billion to the UK’s mortgage bill and four in 10 borrowers on variable rate mortgages would be the first to feel the effect of the rise as their annual mortgage bill would rise overnight by £4.3 billion, while the 59% on fixed rate deals would be impacted later, as fixed terms expire. Buy to let landlords would pay an additional £2.4 billion, with other home owners paying £7.8 billion, or 76.5 per cent of the total increase, according…
February 22, 2018

Home loans to first time buyers in the UK increased in January

The UK residential mortgage market saw a positive start to the year with an increase in the number of small deposit borrowers, usually first time buyers, being approved in January. Some 21% of all approvals went to small deposit buyers up from 18.2% in December and 17.2% in November 2017, according to the latest Mortgage Monitor from e.surv. January’s data is the second full month of data following the Bank of England’s decision to increase the base rate to 0.5%. This rate rise, plus the speculation in the weeks leading up to the decision, has spurred many people into taking action, either looking to take out a mortgage or switching to a new deal, the report…
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