Direct Property News

April 19, 2017

UK general election unlikely to impact property markets

The decision by British Prime Minister Theresa May to announce a surprise general election in just a few weeks’ time is unlikely to have much of an impact on the nation’s property markets. It is generally felt that as there is not time before the vote on the 08 June for a long period of uncertainty to build up and the economy could be strengthened by the decision. Indeed, a snap poll of home sellers and buyers has found that neither see the election as putting them off with their plans to move home. Some 56.7% of sellers said that they would be continuing although 24.4% said the decision has left them undecided and 18.4% are […]
April 18, 2017

Average prices in England and Wales up 0.8% in March, latest index shows

The average house price in England and Wales increase by 0.5% month on month and 3.3% year on year to £301,278 in March, the latest index data sows. Eight out of 10 regions recorded new peak price averages with the West Midlands seeing the highest rate of annual house price growth at 4.8%, but the South East, including Greater London, has seen price growth continuing to slow. This is the first time that the West Midlands has taken the top spot in regional annual price growth since the Your Move index records began in January 1996, some 21 years ago. Birmingham is currently seeing new peak prices, with annual increases of 7.8% and in contrast, Greater […]
April 18, 2017

London’s commercial property sector attracts record investment in first quarter

The capital’s commercial real estate sector managed to attract record levels of investment in Q1 of 2017 as foreign investor shrug off any Brexit fears, CBRE figures reveal. Between January and March 2017, there was a total of £4.9bn in transaction in London commercial property market. This was the highest number ever in the first quarter of the year as well as the biggest quarterly total since the end of 2014. The biggest contributors to this were overseas investors who shrugged off any fear of uncertainty accompanying the country’s fare well from Europe. They made up 80% of transaction volume, an increase of 6% from 74% at the end of last year. CBRE revealed that a […]
April 17, 2017

Housing Minister confirms new ways for councils to free land for home building

Councils in England and Wales are to get new tools to speed up the development of derelict and underused land for new homes, Housing and Planning Minister Gavin Barwell has confirmed. Local authorities across the country will now have to produce and maintain up to date, publicly available registers of brownfield sites available for housing locally and Barwell said that the new registers will help house builders identify suitable brownfield sites quickly. The news comes as new research shows that the majority of developers back the release of more publicly owned brownfield land for home building and they also welcome the speeding up of the planning process. Communities will be able to highlight local derelict or […]
April 17, 2017

How Strong Is the Northern Housing Market?

Overall, the housing market in the North of the UK is strong, with Manchester particularly feeling the benefit of increased global interest, ever increasing housing demand and substantial development activity. The UK Government’s Northern Powerhouse initiative is continuing to pick up momentum which is allowing Northern cities to look to the future with assurance. The figures back this positive rhetoric, with 16% in capital value growth in Manchester last year. JLL have recently forecast house prices in Manchester to grow by up to 28.2%, and the North West to rise 18.1% until 2021. The region is expected to welcome almost 42,000 new households each year, many of these making cities their home – this projected increase […]
April 7, 2017

Annual house price growth halved over last 12 months

According to the latest figure from Halifax, the annual rate of house price growth has more than halved over the past 12 months to 3.8% – the lowest annual rate since May 2013. Annual house price growth is below February’s 5.1% and less than half the 10.0% peak reached in March 2016. House prices were unchanged between February and March for the second consecutive month, and rose just 0.1% in the three months to march – the lowest quarterly rate of change since October 2016. Research released yesterday from Cebr predicts that average house price growth will slow to 4.4% in 2017, below the rate of 7.4% seen in 2016 and the slowest rate since 2013. […]
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