Direct Property News

October 13, 2017
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Strong regional growth keeps UK asking price growth more or less unchanged year on year

Strong regional market performances outside of London and the South East are supporting the national property asking price growth in the UK, the latest index shows. Asking prices increased by 3.2% in England and Wales in October and by 3% in Scotland year on year but in Greater London they are down by 0.7% on an annual basis, according to the data from Home.co.uk. Annual growth is led by the East Midlands with prices up 6.6% to £225,258, followed by the East of England up 5.3% to £361,073, then the West Midlands up 5.8% to £238,829 and the South West up 5% to £324,739. Asking prices were up by 4.5% year on year in Yorkshire and…
October 11, 2017
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Average UK rents up 2.1% year on year in September, index data shows

Average rents across the UK increased by 2.1% in September when compared to the same month a year ago taking the average monthly rent to £927, the latest index shows. Rents in London rose 1.9% year on year, continuing the recovery that began last month after falls throughout the Spring and Summer. The average monthly rent in the capital now stands at £1,593. Overall, the data from the HomeLet September rental index reveals that rents rose in 11 out of the 12 regions of the UK covered by the research Only the South East of England recorded a negative rate of annual rental price inflation, down by 0.1%. The highest annual increases was in Northern Ireland…
October 10, 2017
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Why right now could be the best time to get a mortgage

With British Summer Time about to end and Christmas looming, many potential buyers might think about putting off a mortgage application until the spring. However, mortgage experts Choice Finance advise that, for those looking to buy, now could be the best time based on low interest rates and low stock of homes for sale. Earlier this year, the Royal Institution of Chartered Surveyors reported that the number of properties for sale was at a 40 year low, a trend they expected to continue. Traditionally, the winter months see a lull in the housing market due to Christmas expenses and unfavourable weather. So, with less demand for houses, it can be easier to negotiate a sale under…
October 5, 2017
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Government announces an extra £2.5 million for new homes in garden towns across England

The UK Government has announced a £2.5 million cash boost to speed up the delivery of over 155,000 new homes in the proposed garden towns across England. Nine locally led garden town developments, from Bicester to Taunton, will each receive new funding to fast track the build out of these large housing projects, according to Communities Secretary Sajid Javid. The new funding will support local authorities and communities in delivering ambitious proposals, speeding up the progress of developments through additional dedicated resources and expertise. Javid pointed out that garden towns being supported by the Government are committed to delivering high quality, well planned and well-designed new communities that will stand out as exemplars of good development…
October 2, 2017
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Build to rent up almost 40% quarter on quarter in the UK

The Build to Rent sector in the UK now has 95,918 homes completed, under construction or in planning, a quarter on quarter rise of almost 40%, new research shows. The number has increased from the 69,824 recorded in the first quarter of 2017, a rise of 37.4%, according to the data produced by real estate firm Savills for the British Property Federation (BPF). When looking exclusively at the number of Build to Rent homes under construction and in planning, the rate of growth is even stronger, up from 56,547 to 78,917, an increase of 39.6%. With 54,978 homes complete, under construction and in planning, London still has the highest number of Build to Rent homes but…
September 29, 2017
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House prices growth in key cities across the UK up almost 5% year on year

House prices in key cities around the UK increased by 4.9% in the year to August 2017 but growth is down from the 6.6% recorded in the same month in 2016. However, the last six months have seen steady growth both year on year and month on month with average monthly growth at 2.5% in August, up from 1.1% in March and annual growth up from 2.7% in May. The data from real estate company Hometrack also shows that Manchester is the fastest growing city with annual price growth of 7.3% while London has the slowest annual growth at 1.9% and in Aberdeen prices are down 1.9%. Other cities showing strong annual growth include Birmingham up…
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