Direct Property News

March 15, 2021

House prices increase by almost £2,500 this month as buyer demand reaches ‘record levels’

HOUSE PRICES increased by 0.8 percent this month, leading to the strongest spring sellers’ market in the past 10 years as buyer demand skyrockets. The average price of houses coming to the market has surged by £2,484 as buyer demand reaches record levels, according to Rightmove’s latest House Price Index. With more people spending time indoors during lockdown, it seems Britons are keen to upgrade their homes. The Government’s recent extension of the stamp duty holiday also seems to have spurred buyers into taking action. The latest house price index suggests that the number of potential buyers enquiring about each available property in the month is at a record. Demand is also 34 percent higher than it was […]
March 12, 2021

UK housing market forecast to see strong growth in coming years

Savills has predicted strong growth in the UK housing market throughout the coming years, especially in the north and Midlands. Here’s what could happen to house prices in the short- and long-term. National estate agency Savills published its annual comprehensive five-year housing market predictions. The new upgraded forecasts come after an unexpectedly resilient and strong performance throughout 2020. Moving forward, there are a number of factors affecting the housing market. This includes the speed of the UK’s economic recovery and levels of unemployment and income growth. The easing of social distancing measures and lockdown restrictions and the vaccination program could boost buyer sentiment. And continued government support will likely further help the sector in the short-term. Interest rates are another factor impacting […]
March 11, 2021

Revealed – the cities where millennials are buying to let

With people commuting less due to the pandemic, it comes as no surprise that the interest in searches for ‘buy-to-let scheme’ has risen by 614.29% over the past year, according to research by Mashroom. The letting management platform surveyed 1,000 tenants and landlords in the UK to find out how rental relations are faring in the current climate. It found the top hotspots for millennial landlords in the UK include London, Manchester and Birmingham. Mashroom has taken a look at the average cost to buy a home in the millennial hotspot areas and compared it to the average monthly rent to uncover where younger investors will gain the most profit. The table below shows the best places […]
March 9, 2021

Growing interest in buy-to-let from first-time landlords

Buy-to-let brokers are most commonly searching from criteria about mortgages for first-time landlords, research from Knowledge Bank has found. In February it was the most-searched term by brokers, signalling that they are looking to find mortgages for first-time landlord clients. Matthew Corker, operations director at Knowledge Bank, said: “The rental market in the UK is receiving a lot of interest at the moment. Perhaps as a result of the volatility in the stock market due to the pandemic, investors are turning to what they see as a safe investment. “With house prices increasing in the past year and interest in rental properties also on the increase, this trend could be set to continue. “However, with the […]
March 8, 2021

UK house price growth picks up unexpectedly in February – Nationwide

LONDON (Reuters) – British house price growth picked up unexpectedly last month, mortgage lender Nationwide said on Tuesday, defying expectations of a slowdown as finance minister Rishi Sunak readies new budget measures to boost the market. House prices rose 6.9% in annual terms in February from 6.4% in January, Nationwide said, above all forecasts in a Reuters poll of economists that had pointed to a slowdown to 5.6%. In February alone, prices rose 0.7%, more than reversing a 0.2% decline in January and bucking expectations for a 0.3% drop. Nationwide said the outlook for the housing market was particularly uncertain right now, with the potential for it to be boosted further by Sunak when he presents […]
February 25, 2021

What does Boris Johnson’s COVID roadmap mean for the property market?

On 22nd February, Prime Minister Boris Johnson announced the government’s four-part roadmap to loosening COVID-19 restrictions. How is this expected to impact the property market? England’s third national lockdown started on 6th January. With the number of COVID-19 cases decreasing, Boris Johnson announced his four-part roadmap to lift the lockdown restrictions. The gap between each stage of the easing of restrictions will be at least five weeks. However, certain conditions must be met before proceeding to the next stage. With the vaccination program in full swing, Boris has said all legal limits on social contact could be removed by 21st June. Firstly, lockdown restrictions will begin to ease on 8th March. This is when schools will […]
parallax background