Direct Property News

September 14, 2018

Parliamentary event examines future of PRS

The Secretary of State for Housing has attended the launch of a collection of essays which examine the future of the Private Rental Sector an event held in Parliament. Provided by organisations such as Shelter, the Chartered Institute of Housing, the Institute for Public Policy Research and Crisis representing tenants, landlords, enforcing bodies and think tanks, the essays ahead to where they believe the sector should be heading in the next 20 years. Co-ordinated by the Residential Landlords Association (RLA), the essays have been launched at an event in the House of Commons to mark the RLA’s 20th anniversary. Speaking at the event was the Housing Secretary, James Brokenshire MP and the Shadow Housing Secretary, John […]
September 11, 2018

Latest lender index suggest British residential property market is stable

House prices in the UK increased by 3.7% year on year in August compared and were also up month on month by 0.1%, the latest lender index shows. The data from the Halifax also reveals that on quarterly basis prices rose by 1.9%, taking the average price of a home to £229,958. Russell Galley, managing director of the Halifax, pointed out that the annual rate of growth increased from 3.3% in July. ‘While the pace of employment growth has recently slowed, a low unemployment rate and a gradual pickup in wage growth are helping to support household finances,’ he said. ‘This has been accompanied by interest rates still remaining at a historically low rate and a […]
September 5, 2018

Prime property sales are rising in some value sectors in London, new analysis shows

The volume of sales in London’s highest value boroughs is rising as asking prices adjust to tax changes, new research has found. Values are also improving with the decline in prices slowing in the prime property markets in both central and outer London, according to the latest analysis from real estate firm Knight Frank. Average prices between £4 million and £5 million in prime outer London declined 2.6% in August. Nevertheless, this has been the best performing price bracket since October 2017, underlining how higher value markets have more quickly adjusted to higher rates of stamp duty. Elsewhere in the market in outer London in the price bracket up to £1 million prices are down by […]
September 3, 2018

Registrations rise 35% in July

The latest figures from NHBC have revealed that new home registrations saw a 35% rise in July against the same month last year. According to the data, during July, NHBC said that more than 15,800 new homes were registered to be built in the UK. Of these 12,087 were for the private sector against 8,421 in 2017. And 3,782 were registered in the affordable sector compared to 3,362 previously. For the rolling quarter between May and July, private sector registrations rose 11% to 31,264 new homes against the equivalent period last year. Those in the affordable sector lifted 9% to 12,336. Total registrations for the period stood at 43,600 new homes, up 11%. London saw an […]
August 30, 2018

Call for downsize package in the UK to include no stamp duty

A Help to Buy style package that would include a stamp duty exemption should be introduced in the UK to help older home owners to downsize, it is claimed. It would have a dual benefit of not only allowing over 65s to live in more suitable homes but also to free up housing stock for first time buyers and young families, according to a new report from McCarthy & Stone. It’s latest research has found that 22% of adults aged 65 and over would be more likely to move if there was a stamp duty exemption for downsizers and it points out that this is equal to 2.6 million people and is a substantial increase from […]
August 27, 2018

London’s commercial property market is top draw for international investors

London has the most active commercial real estate market for global cross border capital despite Brexit with Asian investors in particular snapping up assets, new research has found. Overall some £5.6 billion was invested in London in first half of 2018 with the next highest in Hong Kong at £5 billion, followed by Paris at £1.9 billion. Asian investors dominate and accounted for £4.4 billion or 65% of investment of which Greater China led the way with £2.6 billion or 38%. There was £1.8 billion or 27% from other Far Eastern nations, with £906 million of that from Singapore and £790 million from South Korea. The report from international real estate firm Knight Frank says that […]
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