Direct Property News

July 20, 2017
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More million pound homes being sold outside of London, new research shows

Rising house prices in England and Wales means that more properties worth £1 million or more are being sold with London not the only location to see a rise in higher prices properties, new research has found. The ripple effect out from London means that the highest growth in the number of £1 million plus properties sold has been in Hertfordshire, Surrey and Essex and half of home sales in this price bracket are set to be outside of greater London in 2017. According to the analysis of data from the Land Registry by mortgage broker Private Finance, the volume of £1 million plus property transactions rose 195% in England and Wales from 2011 to 2016,…
June 28, 2017
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Second steppers in UK still need help from the bank of mum and dad

More than a third of home owners moving up the housing ladder after buying their first property need financial support, new research has found. Some 32% require an average of £21,231 in financial support from the bank of Mum and Dad but also seek help from grandparents and even friends, according to the research from Lloyds Bank. It also found that 35% cannot afford to move without help and 23% have put off starting a family until they have sold their first home. The study puts the price difference between a typical first time buyer home and a second stepper’s ideal home, which is typically a detached property, is £126,000. However, the average equity level of…
June 26, 2017
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Planning decisions increase in England, with housing up 9% year on year

The number of planning applications being made in England increased in the first quarter of 2017 and those granted have also increased, the latest official figures show. Between January and March 2017, district level planning authorities in England received 123,300 applications for planning permission, up 3% on the corresponding quarter of 2016. They also granted 89,500 decisions, up 4% from the same quarter in 2016 and equivalent to 87% of decisions but this is a fall of 1% over the same period. Some 87% of major applications were decided upon within 13 weeks or the agreed time, up from 83% a year earlier. A breakdown of the data show that councils granted 12,300 residential applications, up…
June 22, 2017
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Brexit fears fail to deter buyers and sellers according to new survey

The decision to leave the EU has failed to deter British buyers and sellers, according to independent estate agent, haart. haart’s latest survey has found that the majority of homeowners do not think Brexit would make any difference to their decision to sell their home or buy a new one. According to the results, where over 2,000 homeowners were questioned on their thoughts about Brexit’s effect on housing, less than 4% admitted that they are holding off moving because of fears around the impact of Brexit on the economy and house prices. A further 4% said the vote to leave the EU impacted their decision to buy or sell initially, but Brexit is no longer holding…
June 20, 2017
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Average prices in UK up by over 40% since low interest rates were introduced in 2009

UK owners have seen the average value of their homes increase by more than 40% and almost £60,000 over the past eight years since interest rates hit historic lows, new research has found. Average property prices are up 41.2% since the Bank of England lowered interest rates to 0.5% in March 2009. They were then lowered again to 0.25% in August 2016. The research from online estate agents HouseSimple comes at a time when there is a chance that rates could go up again as three members of the Bank of England’s Monetary policy Committee (MPC) voted last week for a rise due to inflation rising steadily. They were outvoted this time but it is an…
June 19, 2017
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North of England offers best efficiency for buy to let landlords

New research confirms that the Northern half of England offers the best investment for buy to let landlords due to a combination of affordable prices and rental return. Stoke on Trent is named as the most efficient location, followed by Oldham and Liverpool while when it comes to yields the highest is found in Leeds of the 100 towns and cities surveyed. Overall the 10 most efficient areas to become a landlord in Britain are in the North while every one of the least efficient buy to let locations are in the South with Poole in Dorset the least efficient, followed by central London and Sevenoaks in Kent. The analysis from investment market place Property Partner…
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