Direct Property News

July 25, 2017

Commercial property investment in UK holding up despite political uncertainty

Commercial property investment volumes in the UK increased by 1% in the first half of 2017 to £27.2 billion despite uncertainty caused by the general election. However, average prime yields in June remaining static at 4.7% due to ongoing uncertainty, according to the latest analysis report from international real estate advisor Savills. Savills forecasts that total returns are expected to be around 5.5% for UK commercial property in 2017 and improve throughout the next five years. Offices being the most popular sector, accounting for 39% of investment in the first half of the year and in terms of location, investment was split 50/50 between London and the rest of the UK. Savills says that sectors which […]
July 24, 2017

City house price growth at 5.1%

The latest figures from Hometrack show that UK city house price growth is running at 5.1% per annum, down from 8.8% in June 2016. According to the report, house price inflation has picked up in recent months. Growth in the first half of 2017 ranges from 0.2% in Aberdeen to 6.1% in Birmingham. This is consistent with an 11% increase in home purchase mortgages which are also 5% higher than the 5 year average. Thirteen cities with lower annual growth Thirteen cities have a lower annual growth rate than a year ago. London, Bristol and Oxford have recorded the greatest slowdown as affordability and uncertainty impact demand. The rate of price falls in Aberdeen has slowed […]
July 20, 2017

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

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

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

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 […]
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