Direct Property News

October 25, 2018

Residential land prices in the UK see considerable growth, led by Scotland

The UK residential land market is reflecting the shape of the housing market, as values fall in central London but continue to rise in other regions, with Scotland the standout performer, new research has found. In the last six months, central London residential land values have fallen by 4.9% and are 16% below the 2014/205 peak, according to the latest Savills residential development land index. By contrast, office development land values remain broadly flat. The index report says that falls have been driven in part by house price falls in central London. The Savills all prime London house price index is down 11% from its peak before the major stamp duty overhaul of December 2014. The […]
October 23, 2018

Lettings market for prime properties in London saw strong demand in third quarter of 2018

The prime property lettings market in London has experienced a strong third quarter with high demand from a range of tenants including high net worth students, families and corporate sharers. But the lettings marker in London does tend to be seasonal and this summer it is students who have underpinned the market, according to the latest report from residential agency at JLL. ‘We have seen year on year growth in high net worth students coming in, both from the UK and from overseas. They tend to rent one or two bedroom flats and have budgets of around £500 to £1,000 per week,’ said Lucy Morton, head of residential agency at JLL. ‘There is also a strong […]
October 17, 2018

Report reveals the major changes in the UK housing market in last five

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact. Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years. It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%. Broadband is now seen as essential for the majority of home movers, up from […]
October 16, 2018

Rents rise across Britain, with London seeing first annual rise for several months

Residential rents across Britain increased by 1.6% year on year in the 12 months to Hamptons International report which also looked at what properties landlords are buying. A breakdown of the figures shows that in London rents rose 0.1% year on year, the first annual rise in four months while Wales saw the strongest rental growth with average rents up 3.9% year on year, followed by the East up 2.8% and the Midlands up 2.4%. The data also reveals that in the first half of 2018 landlords spent £12.1 billion purchasing rental properties, some £5.2 billion or 30% less than in the first half of 2015 when the total value of homes bought for buy to […]
October 11, 2018

New home building is up in Britain, boosting the construction industry overall

Construction output in Britain has increased by 1.5% in the three months to August 2018, led by growth of 15% in the North West, some 10 times the national average, official data shows. The value of construction work on new housing in the North West has increased by £386 million this quarter compared to the same quarter in 2017 and output of new infrastructure projects has also risen, according to the figures from the Office of National Statistics (ONS). Northern Powerhouse Minister, Jake Berry, said that a construction boom is underway, with the number of new homes being built up as well as infrastructure. ‘Anyone visiting the North West can see the huge number of construction […]
October 11, 2018

Housing remains top priority during conference season

The recent Conservative and Labour Party conferences highlighted that the housing market remains a top priority for the nation’s politicians. This was demonstrated by several high-profile housing proposals put forward by both parties at a time when Brexit negotiations continue to dominate the political agenda. With the Budget due out later this month, it’s clear politicians still believe that voters can be swayed by key housing policies. Increased stamp duty for overseas buyers At the Conservative Party conference, which took place in Birmingham between September 30th and October 3rd, Theresa May pledged to increase stamp duty on property purchased by foreign buyers by up to 3%. She said it “cannot be right” that it’s “as easy” […]
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