Direct Property News

February 20, 2018

Asking prices rising across the UK as sellers make it an active start to 2018

Record home hunter activity is fuelling a rise in asking prices in most regions in the UK, led by the Midlands where they are rising three times faster than the national average, the latest index shows. Overall asking prices increased by 0.8% month on month in February and 1.5% year on year to an average of £300,001, according to the index report from real estate portal Rightmove. All regions have seen asking price rises on a monthly basis except for a marginal fall of just £131 in the South West but prices here are still 3.3% higher than a year ago and there was a 5.1% monthly rise in Scotland. Year on year price growth was […]
February 15, 2018

Rents in the private rented sector in Britain grew steadily, latest official data shows

Private rented sector rents paid by tenants in Britain rose by 1.1% in the 12 months to January 2018, down from 1.2% in December 2017, the latest official index shows. In England, private rentals grew by 1.1%, Wales saw growth of 1.4% while Scotland saw rents increase by 0.3%, according to the data published by the Office for National Statistics (ONS). The index also show that in the private rented sector in London rent grew by 0.2%, some 0.9% below the British 12 month growth rate and the lowest annual growth since October 2010. Excluding London rents were up by 1.6%. Between January 2011 and January 2018 rents increased by 15.6% and this was strongly driven […]
February 13, 2018

Research reveals more homes than ever in Britain worth over £1 million

There are now well over 750,000 homes in Britain worth at least £1 million with most of them in London, new figures show. Overall there are 768,553 properties in this price bracket which amounts to 2.7% of the nation’s housing stock, according to the data from property portal Zoopla. This is a considerable rise of 22.95% since August 2016 which shows just how fast the value of home have been rising. The largest number are on London at 430,720. Kensington Palace Gardens, which borders the west side of Hyde Park, is the most expensive with an average property price of £35,696,711. The second highest number of millionaire properties can be found in the South East of […]
February 12, 2018

House prices in England and Wales crept up overall in January

House prices in England and Wales increased by 0.2% in January, the first monthly rise following several months of declines, taking the average to £301,477, the latest index shows. But on an annual basis prices have fallen in several locations, most notably London, the South East and the North East, according to the data from the Your Move index. However, the index report points that overall despite average prices in England and Wales being lower than they were in January 2017 and down annually for the first time since March 2012, average prices continue to remain above the £300,000 mark as they did throughout 2017. It explains that the move into negative territory in annual price […]
February 8, 2018

Average UK rents hit record high

New figures from Landbay have revealed the average cost of renting a home is now rising across every UK region for the first time in almost two years. Rents grew by an average of 0.07% in January, marking what is expected to be the start of a year of sustained rental growth for the UK. According to the report, the average UK rent now stands at a record £1,198 per month, a 0.66% increase on this time last year. While rents in the capital (£1,876) remain around 2.5 times the rest of the UK (£760), this is still £16 a month shy of the £1,893 record set in May 2016. Much has been made of the […]
February 1, 2018

Annual UK house price growth increased unexpectedly in January

There was an unexpected pick up in annual house price growth in the UK in January with the latest index showing a rise of 3.2% compared to 2.6% at the end of 2016. The data from lender the Nationwide also show prices increased by 0.6% month on month, taking the average price of a home to £211,756. ‘The acceleration in annual house price growth is a little surprising, given signs of softening in the household sector in recent months,’ said Robert Gardner, Nationwide’s chief economist. But he does not believe it is a sign of a sudden boom as surveyors report that new buyer enquiries have remained soft in recent months and activity has been subdued […]
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