Direct Property News

November 30, 2016

Which regions have seen the highest property price rises in 2016?

With the end of the year on the horizon, home services marketplace Plentific has released it’s 2016 Property Price Index. This gives an overview of how Britain’s house prices have performed during the last 12 months and has revealed some surprising results. Property price rises The study has indicated the top ten best and worst performing regions in terms of property price fluctuations. Aylesbury led the way, with the average price of a home rising by an eye-watering 21.5% over the course of the year. It appears that prices in new commuters hotspots have risen substantially, with Aylesbury thriving as a result. In fact, the top-ten is dominated by regions in London and the South East.…
November 30, 2016

Lending figures show recovery in UK home lending

The latest lending data from the Bank of England suggests that the home mortgage market is recovering with approved loans for properties up 6% in October compared to the previous month. It suggests that the recovery in buyer demand is underway after a slowdown caused by the run up to the referendum on the European Union and the actual vote to leave with 67,518 mortgage approved.
November 29, 2016

UK’s mortgage costs hit record low

Mortgages for UK property are now more affordable than they have ever been before, the Council of Mortgage Lenders has revealed. Recently released figures for September show the average homeowner, first-time buyers not included, spent 17.7% of their monthly income on repaying their mortgage. This represents a decrease from 23.7% in 2009 when interest rates were a lot higher and should give a lot more people the opportunity to make the first steps onto the property ladder.
November 29, 2016

Prices in key UK cities still rising but growth expected to moderate

Property prices in key UK cities are continuing to rise, up 8.4% year on year and 2.3% quarter on quarter but the growth is slowing, according to the latest index. The annual growth is led by Bristol where prices have increased by 10.6% to £259,400 in the 12 months of October 2016 but at the opposite end prices are down 8.1% in Aberdeen although it should be remembered that the city’s housing market has been affected by the fall in oil prices.
November 28, 2016

Sales to first time buyers in UK reach highest level since 2000

Sales to first time buyers in the UK have increased strongly to their highest level since in 16 years, according to data from estate agents, suggesting the housing market is buoyant. Some 32% of total sales made in October were to first time buyers, up 9% from the previous month and the highest since the National Association of Estate Agents (NAEA) began recording them in 2000. The last time the number of sales to first time buyers was at a similar level was in October last year when 31% of sales were made to people buying their first home. Overall, the number of sales agreed stayed the same in October, at an average of nine per…
November 28, 2016

CBI calls for an end to ‘one size fits all’ approach to building homes

The position of the purpose built rental accommodation sector in the UK’s property market could be strengthened markedly over the course of the coming years, after the government was urged in a new report to look at new ways of building homes to meet demand. The Confederation of British Industry (CBI) has published its new study looking at the government’s UK house building targets for 2020, and said that the way it has been looking to meet goals for some time are no longer fit for
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