Direct Property News

December 20, 2018

New home registration sees ‘strong growth’ during November

According to new data from NHBC, the number of new homes registered in November totaled 15,155 – the second highest monthly total of 2018 and a 2% increase year-on-year. Of these, 11,135 new homes were registered in the private sector against 11,017 a year ago. In the affordable sector, 4,020 new homes were registered compared to 3,785 in November 2017. During the rolling quarter of September to November, total new home registrations rose 7% to 43,745 new homes against the same period last year, with private registrations during the period lifting 6% to 33,104 and those for the affordable sector rising 10% to 10,641. Nine of 12 UK regions experienced growth in new home registrations year-on-year […]
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 […]
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