Direct Property News

October 17, 2018
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Report reveals the major changes in the UK housing market in last five

Policies and political events have changed the property market in the UK over the last five years with a major new research report showing that increased demand for lettings has had an impact. Renting has increased as a future tenure from 10% to 13% since 2013, reflecting its growing popularity, according to the Housing Futures report from Strutt & Parket which is published every five years. It also found that big cities have become more popular as a preferred location to live, up from 9% to 15% while those that anticipate living in a single person households rose from 8% to 11%. Broadband is now seen as essential for the majority of home movers, up from…
October 16, 2018
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Rents rise across Britain, with London seeing first annual rise for several months

Residential rents across Britain increased by 1.6% year on year in the 12 months to Hamptons International report which also looked at what properties landlords are buying. A breakdown of the figures shows that in London rents rose 0.1% year on year, the first annual rise in four months while Wales saw the strongest rental growth with average rents up 3.9% year on year, followed by the East up 2.8% and the Midlands up 2.4%. The data also reveals that in the first half of 2018 landlords spent £12.1 billion purchasing rental properties, some £5.2 billion or 30% less than in the first half of 2015 when the total value of homes bought for buy to…
October 11, 2018
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New home building is up in Britain, boosting the construction industry overall

Construction output in Britain has increased by 1.5% in the three months to August 2018, led by growth of 15% in the North West, some 10 times the national average, official data shows. The value of construction work on new housing in the North West has increased by £386 million this quarter compared to the same quarter in 2017 and output of new infrastructure projects has also risen, according to the figures from the Office of National Statistics (ONS). Northern Powerhouse Minister, Jake Berry, said that a construction boom is underway, with the number of new homes being built up as well as infrastructure. ‘Anyone visiting the North West can see the huge number of construction…
October 11, 2018
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Housing remains top priority during conference season

The recent Conservative and Labour Party conferences highlighted that the housing market remains a top priority for the nation’s politicians. This was demonstrated by several high-profile housing proposals put forward by both parties at a time when Brexit negotiations continue to dominate the political agenda. With the Budget due out later this month, it’s clear politicians still believe that voters can be swayed by key housing policies. Increased stamp duty for overseas buyers At the Conservative Party conference, which took place in Birmingham between September 30th and October 3rd, Theresa May pledged to increase stamp duty on property purchased by foreign buyers by up to 3%. She said it “cannot be right” that it’s “as easy”…
October 9, 2018
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House price growth in the UK is steady, data from latest lender index suggests

House prices in the UK were 1.8% higher in the third quarter of 2018 than in the previous three months and 2.5% higher than the same period in 2017, the latest lender property index shows. The data from the Halifax also shows that the annual growth rate slowed from the 3.7% recorded in August and on a monthly basis, house prices fell by 1.4% in September, the second fall in a row, taking the average price to £225,995. Russell Galley, managing director of the Halifax, pointed out that the figures show that house price growth is stable. ‘This is set amongst mortgage approvals and completed house sales remaining broadly unchanged, although a gradual pickup in wage…
October 5, 2018
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House price growth settles at 2% in September

The latest data and analysis from Nationwide has revealed that the UK housing market saw a small uptick in house prices during September, rising 0.3% after being seasonally adjusted. According to the figures, house price growth has settled at 2%, partially recovering form the previous months crash. However, it wasn’t good news for the whole of the country as The North was revealed to be the weakest performing area during Q3 with prices down 1.7% year on year Robert Gardner, Nationwide’s Chief Economist, had this to say: “Annual house price growth was stable in September at 2%. Indeed, annual house price growth has been confined to a fairly narrow range of c2-3% over the past 12…
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