Direct Property News

February 6, 2019
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Prime property sales market in London ready for recovery post Brexit

The prime property market in London is in a stronger position than it appears to be on the surface and is in a position to recover once Brexit is sorted, according to a new analysis. The figures show that there is still no growth in terms of sales and prices. Sales were down by 15% year on year in 2018 and prices down 4.4%. But the data from the London residential Spring review from real estate firm Knight Frank also shows that there was a 5% rise in the number of new prospective buyers during 2018 in both prime central and prime outer London. Tom Bill, head of London residential research at Knight Frank, pointed out…
January 31, 2019
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Activity surges in December as buyers return to the market

New data and analysis from haart has shown that buyers returned to the market in increased numbers during the usually quiet final weeks of the year, despite ongoing Brexit drama. According to the data released, transactions across England and Wales jumped 14% on the month and 18% on the year in December with the number of new instructions rising by almost 30% on the year in the first two weeks of 2019. National Trends House prices across England and Wales fell by 0.8% and by 3.3% on the year. The average house price now sits at £221,965. New buyer registrations fell by 18.1% on the month but is up 12% annually. The number of properties coming…
January 29, 2019
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Supply and demand for homes increased in December, according to estate agents

The property market in the UK is still moving despite ongoing Brexit uncertainty with the supply of homes available to buying at its highest level for the month on December for four years. The latest monthly report from the National Association of Estate Agents shows that last month supply increased by 20% compared with November. Demand from prospective buyers also increased, up by 8% from 292 per member estate agent branch in November to 304 in December. Year on year demand is up 13%. The number of properties sold to first time buyers increased marginally from 23% in November to 24% in December but year on year the number of sales made to this group is…
January 25, 2019
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Property sales at the top of London’s property market increased strongly in 2018

The top end of the residential property market in London saw remarkably robust levels of sales last year despite Brexit concerns, particularly for homes above £15 million, a new analysis shows. Overall there was a total of £4 billion sales in 2018 in the £5 million plus sector of the market, a rise of 10% year on year, according to the latest market intelligence report from real estate firm Savills. In the £15 million plus sector sales increased by 43% year on year to a total value of £2 billion in 2018 compared with £1.4 billion in the previous year. Above £15 million prices have fallen by 22.6%. But prices are still down, with the analysis…
January 23, 2019
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Wealthy property investors remain active in the capital

According to estate agent, Your Move, increased uncertainty surrounding Brexit is the most likely cause for the 25% drop in value of homes in the smartest addresses in central London. However, according to London property lawyers, Collyer Bristow, international wealthy investors remain active and are snapping up some (relative) bargains. Hedge fund billionaire Ken Griffin this week purchased 3 Carlton Terrace – a 20,000sqft Georgian house overlooking St James’s Park – for £95m, reduced from £145m yet still making it the most expensive home purchased in London since 2011. Janet Armstrong-Fox, Head of Private Client Property at Collyer Bristow said: “Despite the Government’s best efforts, London remains an attractive destination for the world’s super rich to…
January 22, 2019
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Analysis suggests London property market will recover next year

London’s house price recovery is set to start in the boroughs of Newham and Hammersmith and Fulham due to booming rental yields in these two locations, according to a new analysis. Property website Home.co.uk predicts that the slump in the capital’s housing market will come to an end during 2020 due to improving rental yields making property more attractive to investors. Its research suggests that this turnaround is likely to start in Newham, where in Dec 2018 the average rental yield was 4.9% compared to 3.6% in the same month in 2017. This 1.3% increase is the largest rise in any London borough apart from the City of London, where a 1.5% rise was observed. The…
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