Direct Property News

May 21, 2018

New to market house prices hit record high

The latest house price data released by Rightmove has revealed that prices of new-to-the-market property saw a 0.4% (+£1,228) rise this month. A modest increase by all accounts but enough to push the national average to a new record of £305,732. According to the figures, record monthly visits to Rightmove in March indicated a strong interest in property, though the subdued 1.6% annual rate of price increase warns that many buyers are increasingly price sensitive On average sellers are achieving 96.7% of their final asking price, a gap of just over £10,000 on the current national asking price, though this varies by region, location and property Russell Quirk, founder and CEO of, commented: “There is…
May 18, 2018

International buyers seek new homes in former commercial districts of London

New research reveals how commercial districts in London such as Mayfair and St James’s are returning to their residential roots with demand for homes rising. The conversions of the US Navy headquarters and the Canadian High Commission, both on Grosvenor Square, back into residential use, are prime examples of the change, according to a new report from property consultants JLL. JLL is forecasting that the number of luxury homes being launched will grow by 9% by 2022. It says that once complete, Grosvenor Square could well become the most desirable residential address in the world. Mayfair and Park Lane already have some of the most expensive homes globally. Buyers are after large apartments in new developments…
May 14, 2018

How much could an average long term property investment earn you?

New research and analysis by specialist mortgage lender, Kent Reliance, has shown that long-term property investment could still deliver significant returns for landlords, despite recent regulatory and taxation changes. According to their report, over the course of a 25 year investment, a basic tax paying landlord, placing a typical 30% deposit of £73,908 on a property, would generate a total profit of £265,500 after all costs and taxes. Accounting for the impact of inflation over the period, this represents a profit of £162,000 in today’s money, or £6,475 every year. Capital gains comprise a significant portion of a landlord’s returns. Assuming that house prices and rents rise in real-terms by 1% per year – well below…
May 10, 2018

UK housing land values rise where property prices are growing

The value of development land for housing in the UK continues to rise, but increases are concentrated in locations still seeing strong house price growth, the latest national analysis shows. In areas where the underlying residential property market has slowed then development land prices are not rising, according to the report from property adviser Savills. The report explains that sites that are well-connected or tied to strong employment centres are most in demand. This is reflected in prices being paid for land. The biggest increases are being seen in key towns and cities across the Midlands and Scotland, with Birmingham the standout performer. London developers continue to seek opportunities beyond the capital, where planning constraints and…
May 8, 2018

London leads annual rental growth in the UK with rise of 4.5%

Rents in the UK increased by 1.5% in April to an average of £918 compared to the same month in 2017, led by growth in London, the latest index shows. Rents in London increased by 4.5% year on year to an average of £1,588, the highest regional year on year growth, according to the figures from the HomeLet index. When London is excluded, the average rent in the UK reached £761, up by 0.9% year on year and while overall rents increased, they fell by 2.1% in Wales and by 0.4% in the South East and the North East. A breakdown of the figures reveal considerable regional variation in rental growth. After London the next biggest…
May 2, 2018

Landlords in east of England ‘most confident’

Landlord confidence across a range of measures remained stable or increased in the first quarter of 2018 compared with the end of last year, according to a recent survey of 1,043 landlords carried out by BDRC on behalf of Paragon. While still weak compared with historic levels, this quarter’s figures make welcome reading after a sharp dip in confidence following the announcement of new tax measures for landlords in 2015 and a further fall after the introduction of tighter underwriting rules for buy-to-let mortgages last year. Landlords in the East of England were most positive about the future, with over half (53%) of those surveyed indicating that they felt upbeat about the prospects for their own…
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