Direct Property News

July 20, 2018

New generation of investors attracted by a changing industry landscape

New data and analysis from auction firm, John Pye Property, has found that an increase in the number of affordable properties coming to market and the growing power of the digital property market is giving rise to a new breed of property investors. With research showing that a greater range of appealing properties are available now in comparison to five years ago, increasing numbers of fledgling investors are now getting involved in the market. Richard Reed, head of property at John Pye Property, says that the idea of a “stereotypical” property investor is no longer accurate, with innovations in technology opening up the market to an entirely new audience. He said: “The image of the middle-aged […]
July 20, 2018

Plans announced for even higher taxes on homes left empty in England

Councils in England are to get stronger powers to tackle the empty homes crisis and will be able to charge extra tax on properties left empty for many years as part of a Government crackdown. Currently there are just over 200,000 homes empty for six months or more in England, compared to 300,000 in 2010 and this number has reduced dramatically since 2013 after councils were given powers to charge a 50% premium on council tax bills on homes empty for two years or more. Now James Brokenshire, Secretary of State for Housing, has announced plans to allow local authorities to triple the council tax on homes left empty for five to 10 years and quadruple […]
July 20, 2018

Sellers add an average of 29% to the asking price of a home with a sea view

Homes with a sea view in seaside towns in Britain have asking prices that are 29% or £68,000 on average higher than other homes in the same area, new research has found. The highest price premium for a room with a view is in Felixstowe in Suffolk, where a sea view could attract a 57% premium or over £143,000 more, according to the research by property portal Rightmove. The next highest premium is in Lytham St Annes in Lancashire with a 38% premium for a sea view along with Folkestone in Kent also at 38%, then Penzance in Cornwall at 36% and Bournemouth in Dorset at 35%. Overall it found that the national average asking price […]
July 20, 2018

Specialist home lenders saw business rise in 2017, new analysis shows

Specialist home lenders in the UK are taking a bigger share of the mortgage market while the largest are seeing more modest growth, a new analysis of property finance shows. Last year there was increased completion for business although overall lending was down by 4% compared with 2016, according to the mortgage report from UK Finance, which represents 97% of the home lending market. Growth in new lending was strongest amongst lenders ranked 21 to 30 in 2017, who lent £3 billion more for housing than in the previous year, a growth rate of 40%. Although Lloyds, which tops the lending table, has continued to increase lending activity with a 7% rise compared to 2016, the […]
July 17, 2018

Demand for property rises in London, but Wales and Scotland have largest increase

Demand for property has lifted in London but commuter locations around the capital have seen a slowdown while Wales and Scotland outperform the rest of the UK, the latest index shows. Overall, the national hotspots index from hybrid estate agent Emoov, which calculates the number of properties sold as a percentage of homes listed, reached 38%, up 8% across the country, but up just 3% in England. While in Scotland it rose by 8% and in Wales by 10%. It also shows an improvement for London with demand up 2% since the beginning of 2018. But in commuter zones demand fell by 8%. While Edinburgh is the most in demand city at 62%. Wales recorded the […]
July 13, 2018

Asking prices increased strongly in some parts of the UK in year to July

Asking prices in the year to July 2018 increased strongly in some parts of the UK, most notably in the North and West of England, the Midlands and Wales, the latest index shows. The biggest annual growth in asking prices was in Wales at 6.4%, taking the average to £202,378, followed by a rise of 5.4% in the West Midlands to £247,925, a rise of 5.3% in Yorkshire and the Humber to £196,907 and a rise of 5.1% in the North West to £202,248. There was also strong annual growth of 4.7% in the East Midlands to an average of £233,291 but elsewhere asking prices fell or was muted, the data from the index shows. […]
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