Direct Property News

June 26, 2018

A single first time buyer in the UK needs a decade to save for a typical house deposit

Saving for a typical deposit for a first home takes a year less than it did in 2017, but first time buyers still face a decade of saving to get a 15% down payment, new research has found. In the first quarter of 2018 the average single first time buyer would have to save for 10 and a half years to raise a 15% deposit on their first home, down on the 11 years recorded in the same quarter of 2017. The year difference reflects slower house price growth and a rise in incomes, according to the study from Hamptons International and it means that the average single first time buyer who started saving in the […]
June 22, 2018

Average property prices up more than 300% in many parts of England since 2000

Waltham Forest in London has seen prices rise the most in England since 2000 with Southend on Sea recording the highest growth outside of the capital city, new research shows. Prices have increased by 364.9% in the borough of Waltham Forest in London with eight borough seeing growth above 300% in the last 18 years, according to the analysis of land registry figures by online estate agents HouseSimple. Outside of London some 19 towns and cities have seen prices rise above 250%, led by Southend on Sea at 290.9% with average prices up from £71,879 to £280,948, followed by Bristol with a rise of 279.9% from £71,973 to £273,393 and Cambridge up 279.2% from £118,216 to […]
June 21, 2018

Two years on since the EU referendum, how has the property market fared?

23 June 2018 marks two years since the UK made the historic decision to leave the European Union (EU). The implications of the vote were almost immediate; on the morning of the result being announced, David Cameron announced his resignation as Prime Minister, which was followed soon after with the appointment of Theresa May as his replacement and the person ultimately responsible for managing the UK’s withdrawal from the EU. Since then, the UK has witnessed a series of profound political events – in March 2017, Theresa May formally triggered Article 50, signalling the beginning of a two-year countdown to a final date for Brexit. This was followed soon after by a general election that resulted […]
June 19, 2018

London and Merseyside have highest number of new homes for sale

Buyers looking for a new home in England are more likely to find one in London, Merseyside and Greater Manchester as they are the locations with the highest number of new builds. New research also shows that it is harder to find a new home to buy in Durham where just 23 new homes were completed during the whole of 2017, followed by the Isle of Wight with 24, Rutland with 53, Herefordshire with 93 and Bristol 144. This in contrast to London where 8,522 new homes were completed in the same 12 month period, followed by 1,978 in Merseyside, 1,280 in Greater Manchester, 1,132 in Surrey and 964 in Hampshire. Online housing agents Sellhousefast analysed […]
June 15, 2018

Landlords find that the private rented sector in the UK is still a worthwhile investment

Even so called accidental landlords, for example those who enter the sector after inheriting a property, are not leaving with many even adding to their business by expanding their portfolio. One of the main reasons for staying is that the private rented sector makes up a large part of the UK’s lettings market and with a shortage of houses to buy is likely to continue to do so. Indeed, new research from Foundation Home Loans shows that 17% of existing landlords plan to increase the size of their portfolio in the next 12 months and a growing number overall are accidental landlords. Some 14% of existing landlords describe themselves as ‘accidental’ due to a change in […]
June 13, 2018

Two million tenants in UK could see rents rise this year, research suggests

Two million tenants across the UK could be hit with rent rises in 2018 as 40% of landlords are planning to increase what they charge in the private rented sector, new research suggests. If this number of landlords carry out their plans that would mean rent rises totalling some £46 million a month, according to the figures from online letting agent MakeUrMove. With the average rent just over £900 a month, the firm says that a rise of 2.5% would mean tenants paying some £23 a month more, totalling £414 across a typical 18 month long tenancy. Tenants will feel the impact most severely in London where the average rent is £1,274, as half of landlords […]
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