Direct Property News

November 6, 2018
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Half of London’s new build pipeline now in East and South East of the city

More than half, some 53% of the housing units in London’s new build pipeline are to be found in East and South East of the city, new research shows. There are now 86,196 new build units in the pipeline in East London, a third of London’s overall total and 7% more than the same period last year, according to the study from Kinleigh Folkard & Hayward (KFH). East London leads the way in new build pipeline with 42% or 25,573 more units in the pipeline than the South East. However, the South East accounts for 22% of the total pipeline of 60,623 units, meaning the eastern side of the city is the home to more than…
November 2, 2018
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UK house prices set to rise by almost 15% in 5 years, led by the North, Wales and Scotland

UK house prices are set to rise broadly in line with incomes over the next five years, but the traditional North/South divide will turn on its head, according to new outlook forecasts. While overall prices are predicted to rise by 14.8% in the UK from 2019 to 2023, the Midlands, the North and Scotland are expected to see the strongest increases, according to the analysis from international real estate adviser Savills. But Brexit will continue to impact sentiment over the short term, particularly in London and its commuter belt, but local market affordability is expected to determine the pattern of price growth over the longer term, the firm says. The forecast also suggests that the range…
October 30, 2018
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Brexit fears fail to dampen positive property market

The latest analysis of the UK housing market from independent estate agent, haart, has revealed that British buyers and sellers appear undeterred by warnings from the Treasury, IMF and the Bank of England about the impact of the vote to leave. The research compares the Treasury’s “cautious” economic forecast for the two years following the vote to leave published in May 2016, to the realities of the UK property market today, five months prior to the UK’s official exit date. The paper which focused on the immediate economic impact on the vote to leave and the two years that follow predicted doom and gloom for the property. Presented by former Chancellor of the Exchequer, George Osborne,…
October 26, 2018
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Average rents in England and Wales up 2.3% year on year

Residential rents in the private sector across England and Wales increased by 2.3% in the 12 months to September 2018, reaching an average of £861, the latest index shows. London was only region to see rents fall, with prices down 1.3% year on year but it is still the most expensive place to rent a home at £1,271 per month while the strongest growth was in the South West, according to the Your Move rental tracker. Both the North East and Wales recorded annual rent falls but returned to growth in September, In Wales rents grew by 0.3% to £588 and in the North East they increased by 0.2% to £535 and is the cheapest place…
October 25, 2018
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Residential land prices in the UK see considerable growth, led by Scotland

The UK residential land market is reflecting the shape of the housing market, as values fall in central London but continue to rise in other regions, with Scotland the standout performer, new research has found. In the last six months, central London residential land values have fallen by 4.9% and are 16% below the 2014/205 peak, according to the latest Savills residential development land index. By contrast, office development land values remain broadly flat. The index report says that falls have been driven in part by house price falls in central London. The Savills all prime London house price index is down 11% from its peak before the major stamp duty overhaul of December 2014. The…
October 23, 2018
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Lettings market for prime properties in London saw strong demand in third quarter of 2018

The prime property lettings market in London has experienced a strong third quarter with high demand from a range of tenants including high net worth students, families and corporate sharers. But the lettings marker in London does tend to be seasonal and this summer it is students who have underpinned the market, according to the latest report from residential agency at JLL. ‘We have seen year on year growth in high net worth students coming in, both from the UK and from overseas. They tend to rent one or two bedroom flats and have budgets of around £500 to £1,000 per week,’ said Lucy Morton, head of residential agency at JLL. ‘There is also a strong…
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