Direct Property News

January 31, 2019

Activity surges in December as buyers return to the market

New data and analysis from haart has shown that buyers returned to the market in increased numbers during the usually quiet final weeks of the year, despite ongoing Brexit drama. According to the data released, transactions across England and Wales jumped 14% on the month and 18% on the year in December with the number of new instructions rising by almost 30% on the year in the first two weeks of 2019. National Trends House prices across England and Wales fell by 0.8% and by 3.3% on the year. The average house price now sits at £221,965. New buyer registrations fell by 18.1% on the month but is up 12% annually. The number of properties coming…
January 29, 2019
uk property investment

Supply and demand for homes increased in December, according to estate agents

The property market in the UK is still moving despite ongoing Brexit uncertainty with the supply of homes available to buying at its highest level for the month on December for four years. The latest monthly report from the National Association of Estate Agents shows that last month supply increased by 20% compared with November. Demand from prospective buyers also increased, up by 8% from 292 per member estate agent branch in November to 304 in December. Year on year demand is up 13%. The number of properties sold to first time buyers increased marginally from 23% in November to 24% in December but year on year the number of sales made to this group is…
January 25, 2019

Property sales at the top of London’s property market increased strongly in 2018

The top end of the residential property market in London saw remarkably robust levels of sales last year despite Brexit concerns, particularly for homes above £15 million, a new analysis shows. Overall there was a total of £4 billion sales in 2018 in the £5 million plus sector of the market, a rise of 10% year on year, according to the latest market intelligence report from real estate firm Savills. In the £15 million plus sector sales increased by 43% year on year to a total value of £2 billion in 2018 compared with £1.4 billion in the previous year. Above £15 million prices have fallen by 22.6%. But prices are still down, with the analysis…
January 23, 2019

Wealthy property investors remain active in the capital

According to estate agent, Your Move, increased uncertainty surrounding Brexit is the most likely cause for the 25% drop in value of homes in the smartest addresses in central London. However, according to London property lawyers, Collyer Bristow, international wealthy investors remain active and are snapping up some (relative) bargains. Hedge fund billionaire Ken Griffin this week purchased 3 Carlton Terrace – a 20,000sqft Georgian house overlooking St James’s Park – for £95m, reduced from £145m yet still making it the most expensive home purchased in London since 2011. Janet Armstrong-Fox, Head of Private Client Property at Collyer Bristow said: “Despite the Government’s best efforts, London remains an attractive destination for the world’s super rich to…
January 22, 2019

Analysis suggests London property market will recover next year

London’s house price recovery is set to start in the boroughs of Newham and Hammersmith and Fulham due to booming rental yields in these two locations, according to a new analysis. Property website predicts that the slump in the capital’s housing market will come to an end during 2020 due to improving rental yields making property more attractive to investors. Its research suggests that this turnaround is likely to start in Newham, where in Dec 2018 the average rental yield was 4.9% compared to 3.6% in the same month in 2017. This 1.3% increase is the largest rise in any London borough apart from the City of London, where a 1.5% rise was observed. The…
January 18, 2019

Official data shows price growth in the UK increased slightly in November

Property prices in the UK increased by 2.8% in the year to November 2018, up slightly from 2.7% in the 12 months to October 2018, the latest official figures show. However, a breakdown of the figures from the Land Registry show that the growth is not universal. In England while prices have increased by 2.6% year on year, they have fallen by 0.1% month on month to an average of £247,430. In Wales prices were up by 5.5% year on year and they also increased month on month, up by 0.2% to an average price of £161,499. On an annual basis prices in Scotland increased by 2.9% to an average of £150,638, but fell marginally by…
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