Direct Property News

Manchester’s property market is heading for a “feel good” 2017. So say the developers behind a clutch of city schemes, who say the UK’s second city will prosper in the coming year as the Brexit process shakes-up the economy. Adam Higgins, director at Capital & Centric said: “Despite events of 2016, Manchester feels good at the moment. It feels like we’ve collectively created a city and culture that can weather a storm. “Although to be honest, we have quite liked the uncertainty and disruption that Brexit has created as it’s mixed things up a bit and on the back of this we’re committing to build out nearly 1m sq ft of development in the city this […]

Housing market activity in the UK increased by 8% in December 2016 year on year with the first time buyer market seeing growth of 26%, the latest research data shows. This was also an increase of 40% compared with December 2014, according to the report from Connells Survey and Valuation, with confidence levels recovered from any post referendum downturn. Overall, the number of valuations conducted for those selling property increased by 25% year and year with activity among those looking to remortgage up by 19%. The buy to let sector, however, has had a turbulent year with valuations contracting 26% on an annual basis. ‘The housing market has been recovering since September and had a great […]

The number of first time buyers in the UK is estimated to have reached 335,750 in 2016, up 7.3% and the third year in a row of growth, according to a new report. It means that those getting on the housing ladder for the first time have reached their highest level since the start of the housing crisis in 2007, according to the latest Halifax First Time Buyer Review. Having reached an all-time low of 192,300 in 2008, the number of home buyers getting on to the first rung of the property ladder has grown by 75% to its current level. However, first time buyer numbers still remain 17% below the immediate pre-crisis peak of 402,800 […]

Residential property prices in England and Wales increased by 0.4% at the start of the year, not much change from the 0.5% recorded a year ago, the latest index data shows. The £1,086 monthly rise took the average price of a property to over £300,000 and asking prices are now up 3.2% year on year, the figures from property portal Rightmove show. But there is some considerable regional variations with prices up month on month in four regions and down on a monthly basis in five, including Wales, while they were unchanged in the North East. The biggest rise was in the South East with asking prices up 1.5% to £404,804 and up 5.5% year on […]

London will remain an attractive location for commercial property investment in Europe despite Brexit although some banks and financial organisations may move out of the city, new research suggests. They could look to take space in other European cities such as Frankfurt and Berlin as a result of the decision by the UK to leave the European Union but the outlook report from real estate services firm JLL suggests that the numbers will be small. JLL predicts that 2017 will see no real clarity on the eventual Brexit deal and that the UK economy will grow less strongly than in recent years but will still outperform most other developed nations. It also forecasts that there will […]

The three northern cities, along with Cardiff and London, have been named the most lucrative places to invest in buy-to-let properties, a report by Martin & Co revealed. Rental demand was cited as one of the strongest indicators for a great buy-to-let location. The biggest factor influencing this indicator is the number of people competing to rent one particular home, which ensures investors string returns. Manchester and Leeds are both currently experiencing particularly strong growth. And demand, which has already been increasing over recent years, will only experience bigger growth with more companies relocating to those cities. Furthermore, the report by Martin & Co has also stated that demand is the biggest factor in the decision […]