Direct Property News

April 30, 2018

Annual house price growth up slightly to 2.6%

The latest house price report from Nationwide shows a property market lacking in any real momentum. According to the figures released this morning, annual house price growth saw a slight increase of 0.2% on the month – picking up to 2.6%. Robert Gardner, Nationwide’s Chief Economist, commented on the figures: “There was a slight pickup in UK annual house growth in April to 2.6%, from 2.1% in March. House prices rose by 0.2% over the month, after taking account of seasonal factors. February saw a softening in house purchase approvals to 64,000 cases, following a surprise rise in January. These figures are broadly in line with our expectations and close to the average for the last […]
April 24, 2018

New figures show equity release for UK home owners has doubled since 2016

Equity release lending in the UK has more than doubled in the last two years to reach £870 million in the first quarter of 2018 resulting in almost £10 million of housing wealth being withdrawn a day. The value of quarterly lending in the first three months of 2018 increased by 25% year on year, according to the figures from the Equity Release Council which said that product innovation and flexibility has led to new customers rising by 22%. The figures also show that the average initial instalment on a drawdown lifetime mortgage was up 4% from the final quarter of 2017 to £64,785 while the average lump sum lifetime mortgage was down 5% to £96,483. […]
April 24, 2018

Survey reveals majority of landlords find it hard to keep up with regulations

The majority of landlords in the UK are finding it hard to keep up with the raft of regulatory changes and get to grips with complex compliance issues that have affected the private rented sector. New research reveals that almost one in 5 landlords, that is 18.2%, said they find it impossible to keep up with constant regulation changes with a further 29.9% saying they find it very difficult and another 31.2% finding it quite difficult. There are over 145 individual laws and more than 400 regulations relating to the private rented sector, making it harder than ever for landlords, particularly accidental landlords to keep up with change and compliance. The survey from property marketplace The […]
April 24, 2018

Brexit: No threat for residential property investors?

One year on from the triggering of Article 50 and Britain’s exit from the European Union is finally starting to take positive steps forward. An agreement on a transition deal announced on Monday 19 March saw the pound surge, with predictions it could grow further by the end of the week. For residential property investors, this should be encouraging, however, according to Andy Foote, director at SevenCapital, Brexit was never a huge threat for the residential property market: Since the first announcement of Brexit, residential investors – new and seasoned – have been wavering over decisions on residential property in the UK. In fact, one of the most commonly asked questions over the past 12 months […]
April 19, 2018

UK Finance: Homeowner purchases at 10 year high

The latest data and analysis from UK Finance has revealed that mortgage lending for first-time buyers, home movers and remortgagors all saw an increase during February when compared to the previous year. Total homeowner purchases, which combine both home movers and first-time buyers, reached 50,000, the highest level for February since 2007. This morning’s figures show that there were 25,200 first-time buyer mortgages completed in February 2018, some 2.4% more than in the same month a year earlier. The £4bn of new lending in the month was 2.6 per cent more year-on-year. The average first-time buyer is 30 with a gross household income of £41,000. There were 24,800 home mover mortgages completed in the month, the […]
April 17, 2018

Global mainstream house prices increased by 4.6% in 2017, latest index shows

House prices worldwide increased by 4.6% in 2017, led by Iceland and Hong Kong, but their rate of growth has slowed while European housing markets are rising up the rankings, the latest global index shows. Overall some 85% of the 59 countries tracked by the Knight Frank global house price index saw mainstream values rise and seven European countries now sit within the top 10 while Russia, Peru and Ukraine registered the weakest growth in 2017. ‘The latest house price rankings provide a glimpse as to where the world’s housing markets are in relation to their property market cycles, as the era of economic stimulus comes to a close and rate rises occupy the minds of […]
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