Direct Property News

May 5, 2017

Prime property markets in country areas of UK saw increased growth at start of 2017

Prime country residential property markets in the UK saw an increased level of growth in the first three months of this year, though it remained relatively modest, the latest research shows. Whilst values remained flat throughout the second half of 2016, they grew by 0.8% over the last quarter and price increases have been fairly consistent in the first quarter of 2017, according to the report from real estate firm Savills. Indeed, growth has ranged from 0.5% in the inner commuter region, that is locations typically up to 30 minutes travel time from London, to 1.0% in the wider South of England and the Midlands and the North. On an annual basis, the prime country markets […]
May 5, 2017

Number of first time buyers in UK has grown steadily since start of 2017

The proportion of buyers in the UK with small deposits, usually first time buyer, securing mortgages are rising, up for the third month in a row, according to the latest lending monitor report. They made up 21.4% of the mortgage market in March, up from 16.1% in December 2016, the data from the report from residential chartered surveyors e.surv shows. However, the overall size of the market has shrunk both compared with the previous month and the same stage in 2016. There were 64,695 loans approved in March 2017 compared to 66,911 in February, a 5.3% fall and 7.7% lower than a year ago. ‘Small deposit buyers, who are often first time buyers, have seen their […]
May 3, 2017

Buy-to-let investors using limited companies hits record high

Record numbers of buy-to-let property investors are using limited companies to secure finance to purchase property, according to industry statistics. The latest figures have revealed that the proportion of homes to rent in the UK owned by a company landlord reached 20 per cent in the first quarter of 2017; the highest number since records began in 2010. This is one of several ways in which investors have adapted to the recent changes within the sector, including the stamp duty hike introduced last year and the cuts to mortgage  tax relief which were implemented last month. In some circumstances, buying a property as a limited company may result in savings, but this is not the case […]
May 3, 2017

Demand from Investors for UK Property is on the rise, RICS says

Britain’s commercial property market is getting stronger with industrial space leading the way, the Royal Institute of Chartered Surveyors (RICS) revealed. During the first quarter of 2017, investor demand for UK commercial property increased across all sectors. However, industrial assets were most sought after and outperformed office and retail space. RICS revealed that 28% more respondents noticed an increase in demand for industrial property across Britain over the first three months of this year. Simon Rubinsohn, RICS chief economist, said: “The results of the latest commercial property survey chime with much of the recent generally more positive economic news flow. The forward-looking indicators are also proving relatively resilient, although it would not be a surprise if […]
May 2, 2017

First quarter of 2017 saw 17% growth on number of new homes registered

More than 42,000 new homes were registered in the UK in the first three months of this year, up 17% compared with the same period in 2016, the latest data shows. Some 42,470 new homes were registered by the National House Building Council (NHBC) in the first quarter of 2017, the highest quarterly rate for 10 years. A breakdown of the figures show that 31,197 homes were registered in the private sector, an increase of 10% on the same period a year ago, and 11,273 new homes registered in the affordable sector, a 40% increase on 2016 numbers. New home statistics for the financial year also reveal a 4% increase for 2016/2017 with a total of […]
May 2, 2017

UK homeowners: Should you be thinking about remortgaging?

Many homeowners across the UK continue to capitalise on the record-low rates currently available on the market. So should you, too? The British Bankers’ Association (BBA) revealed that remortgage approvals have increased by 2% year-on-year in March. And the lift in remortgaging is only set to continue as Yorkshire Building Society have recently announced a new record-low mortgage rate of 0.89%. March saw 24,657 remortgage approvals and a total of 41,061 home purchase approvals, which indicates a drop of 2.8% on the previous month. BBA, however, said the figures were close enough to the six-month average of 41,600. Furthermore, the BBA also revealed that gross mortgage borrowing was at £13.2bn, which was overall in line with […]
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