Direct Property News

January 11, 2018
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Pace of annual rent rises in England and Wales at lowest since 2014

Average asking rents in England and Wales increased by 0.7%, excluding London, year in year in the fourth quarter of 2017, the lowest annual rise since 2014, new figures show. However, in London asking rents ended the year some 1.2% higher than at the end of 2016, the first time the annual rate in the capital has been in positive territory in nearly two years. The data from Rightmove’s rental trend tracker report also shows that the South East and Yorkshire and the Humber are the only two regions to end 2017 with asking rents down, while the North East saw rents rising at the highest rate, up 3.3%. Farnham in Surrey recorded the highest rental…
January 4, 2018
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New build sales increased in England and Wales in November 2017

Some 106,412 property sales were registered in England and Wales in November 2017 with the number of new builds rising, the latest official figures show. Of the total 79,133 were freehold, a 10.3% increase compared to November 2016, and 13,095 were newly built, a 5.2% increase compared to November 2016, according to the data from the land registry. A breakdown of the figures show that 489 sales were properties sold for £1 million or more and 293 were properties in Greater London worth £1 million and over. The most expensive residential sale in November 2017 was a semi-detached property in the London borough of Kensington and Chelsea for £13 million while the cheapest was a terraced…
January 3, 2018
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Which towns were the winners and losers of the 2017 house price table?

According to the figures, the average price of a home in Cheltenham was 13% higher than in the previous year – an increase from £277,118 to £313,150 in 2017; nearly five times the 2.7% increase in the UK as a whole. The seaside town of Bournemouth experienced the second biggest rise, with an increase of 11.7%, while Brighton, on the south east coast completed the top three with an 11.4% rise in the past year. Fifteen of the 20 top house price performers are in London and southern England – these include Crawley (10.4%), Newham (10.2%), Peterborough (10.1%), Gloucester (9.5%) and Exeter (9.1%). Huddersfield (9.3%) in Yorkshire and the Humber, Nottingham (8.9%) and Lincoln (8.4%) in…
December 26, 2017
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Chinese buyers step up UK investment despite Brexit

Eighteen months after the UK’s EU membership referendum took place, interest in British property from Chinese buyers is as strong as ever. According to international property portal Juwai.com, the number of buying enquiries from potential Chinese investors is still 43.2% higher than it was in June 2016. The weak pound is a primary driver of increased demand. As a result, the site is expecting interest from Chinese investors to remain at a similar level in 2018. “Chinese property buyers made 43% more buying inquiries for UK property than they did in the second quarter of 2016, the period that encompassed the referendum,” said Carrie Law, CEO of Juwai.com. “At the time of the referendum, we said…
December 26, 2017
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How to Prepare your Property for Let in the 2018 Market

If the traditional Christmas chaos hasn’t hit you yet, it’s sure to over the next two weeks. Amongst the last minute madness to buy Christmas presents for your nearest and dearest, you may want to start thinking about preparing your property for let in the 2018 market… With turkey and wrapping paper on the brain, it can be difficult to think strategically about your lettings business at this time of year, but now really is the best time to prepare and plan for what is sure to be another tricky year for landlords. Keeping your lettings business strong and healthy in 2018 will likely be top of every landlord’s Christmas list this year – these top…
December 26, 2017
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Record number of homes in UK sell for less than asking price

A record number of properties in the UK sold for less than their asking prices in November and the traditional end of year slowdown in the property market started early. The number of properties available to buy in the UK also fell, reaching its lowest level seen since January 2016 but demand has also fallen, the latest research from estate agents also shows. At the same some the majority of properties, some 85%, sold for less than their asking price in November, the highest levels since records began, according to the survey from the National Association of Estate Agents (NAEA). This is up from 78% in October, and just higher than last November when 84% of…
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