Direct Property News

February 8, 2017
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Economists predict housing crash won’t happen in 2017

New forecasting from economists at Lancaster University Management School indicates the UK housing market will remain stable as house price inflation slows to 3.5%. They have been analysing house prices (using the Nationwide House Price Data) retrospectively since October 2015 to produce the Housing Market Observatory with the aim of analysing indicators patterns of exuberance, or price booms. For 2017, they have introduced forecasting into the Observatory and results suggest that house prices in the national and all regional property markets will grow this year. For the UK national market, the forecasting models predict a slowdown in the rate of house price inflation to 3.5% in 2017 (in 2016 it was 4.4%). Despite some economists predicting…
February 8, 2017
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The Property Industry Reacts to the Controversial Housing White Paper

Many experts from the property industry have been quick to respond to yesterday’s already controversial Housing White Paper, delivered by Sajid Javid, the Secretary of State for Communities and Local Government. We have already reported that the RLA is disappointed in the lack of support for individual landlords, while PwC warns that the announcement has worsened the outlook for generation rent. Meanwhile, the Association of Residential Letting Agents and the National Association of Estate Agents have issued a joint statement: https://www.justlandlords.co.uk/news/arla-naea-react-three-year-tenancies/ Now, the CEO of online estate agent eMoov.co.uk, Russell Quirk, has offered his opinions on the Housing White Paper: “As always, commendable that the Government should look to again address the housing crisis, but there…
February 8, 2017
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House prices set to grow by 3.5% in the UK in 2017

House price rises in the UK will slow in 2017 but a crash is highly unlikely due to a sound economic outlook despite Brexit, according to a new analysis. Stability in the housing market is predicted throughout the year with house price inflation slowing to 3.5%, says the forecast from economists at Lancaster University Management School. The data from the Housing Market Observatory from the University has analysed house prices retrospectively since October 2015 and now has produced a forecast with the results for the first time. It suggests that house prices nationally and all regional property markets will grow this year but at 3.5% this will be slower than the 4.4% recorded in 2016. In…
February 8, 2017
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Policy changes welcomed by UK lettings industry but landlords still feel battered

New housing policies affecting the private rented sector in the UK have been widely welcomed regarding longer tenancies and clamping down on rogue landlords. But landlords and the industry are warning that they still face tough challenges ahead relating to tax and letting fees and rents could rise at a time when the new Housing White Paper wants more affordable homes to be available to rent. The document says that there should be more family friendly tenancies so that people don’t have to worry about moving home frequently as the Government believes that those renting a home should feel as secure as those who buy a home. ‘As access to ownership has become more challenging, increasing…
February 7, 2017
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Regional property markets remain more attractive than the capital

According to David Wise, investment director at The Kames Property Income Fund, regions around the UK currently offer potentially better opportunities than those in London, with Brexit likely to hit the capital harder than anywhere else in the UK. While David does not expect returns in London to plummet due to the impact of the EU referendum, Brexit does pose a risk to the city’s outlook in the short-to-medium term. As such, he says better property returns will be found elsewhere for at least 12 months, and possibly longer. David says: “At present, regional markets are showing no signs of slowing. Tenants are signing new leases and paying modestly higher rents, and even if this were…
February 7, 2017
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Manchester property prices will grow 28.2%

Over the next five years, Manchester capital value growth is expected to reach 28.2 % as a result of growing demand and supply, a research report by JLL revealed. House prices in England’s north-west ar set to rise 18.1% until 2021, property advisor JLL has revealed in a recently published research paper. This data comes after a great year for Mancunian residential property as it has already experienced a growth of 16% in capital values in 2016. The area’s imbalance between supply and demand is one of the main reasons why the growth rate in the north-west is currently outpacing the rest of the UK. And JLL precits that, as a result of this continuing undersupply,…
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