Direct Property News

January 9, 2017
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Housing market in UK ended 2016 strongly, latest index shows

The residential housing market in the UK finished 2016 strongly with prices up 1.7% month on month in December, taking the annual growth to 6.5%. The quarterly growth was also strong, up 2.5% in the final quarter of the year, taking the average price of a home to £222,484, the figures from lender the Halifax show. Halifax housing economist Martin Ellis said that while house prices finished 2016 strongly, slower economic growth, pressure on employment and a squeeze on spending power, together with affordability constraints, are expected to reduce housing demand during 2017. ‘UK house prices should, however, continue to be supported by an ongoing shortage of property for sale, low levels of housebuilding, and exceptionally…
January 5, 2017
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5 things to consider before investing in rental property

New year, new investment? Now that 2017 has hit, you might be considering a new investment to kick off the year. But what are the red flags you should be looking out for? And what’s the better option? Managing it yourself or handing it over? 1. Can you afford the property? Investing in property is a big project that – for most buyers – comes with a lengthy process and will take a while to go through. So making sure that you’ve got the funds to cover every singly repayment and put the deposit down is one of the first things you should be certain about. 2. Can you afford the costs? Costs on a property…
January 5, 2017
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Mortgage Approvals Hit Eight-Month High

Mortgage approvals for house purchases hit an eight-month high in November, according to the latest figures from the Bank of England (BoE). Some 67,505 mortgage approvals were recorded in November, up from 67,371 in October and the highest number seen since March, when the figure reached 70,079. It is believed that the peak witnessed in March was the result of a rush of investors hoping to beat the introduction of the 3% Stamp Duty surcharge for additional homes in April. Despite November’s high number of mortgage approvals, the level was still down on an annual basis, from 70,123 the previous year. However, the value of lending was higher in November, at £12.3 billion, up from £11.8…
January 4, 2017
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2017 property predictions begin to emerge

As every property expert in the land prepares to unveil their predictions for the market in 2017, it seems there is some consensus as to the general shape of the next 12 months. Nobody is predicting any great moves in prices for 2017, with a seeming period of quiet while the market waits to see how Brexit will affect the whole economy.
January 4, 2017
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UK property market ends 2016 on a positive note despite Brexit

Annual house price growth in the UK ended 2016 at 4.5%, the same as in 2015, but in London it was below the national average for the first time in eight years. The latest index data from lender the Nationwide also shows that month on month prices increased by 0.8% taking the price of an average home to £205,898.
January 3, 2017
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British expats are buying up London and the South East

British expats who are buying up investment property are increasingly focusing on homes in the Greater London area and the South East of England. Skipton International has recently published some data suggesting that 40% of expats buy-to-let in Greater London, 25% aim for England’s South East and 10% are hoping to invest in the South West and the North West whilst 15% are focusing on the rest of England and Wales.
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