Direct Property News

October 31, 2016
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Property vs. Pensions

The Bank of England’s Chief Economist Andy Haldane got himself into hot water in the press last month when he suggested that property is a better investment for retirement than a traditional pension. Speaking to the Sunday Times, Haldane said that while a pension should be the top way to save for retirement, in reality it was “almost certainly property”. He continued: “As long as we continue not to build anything like as many houses in this country as we need to… we will see what we’ve had for the better part of a generation, which is house prices relentlessly heading north.”
October 31, 2016
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New action plan aims to give UK property owners better protection from flooding

A new, independent action plan report launched in the UK aims to help people protect their homes and businesses from the risk of flooding and recover more quickly if the worst happens. The Property Flood Resilience Action Plan explores the role of building regulations and certification, in encouraging use of flood resistant construction methods and how rigorous independent standards can provide confidence in flood products across the industry.
October 31, 2016
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Residential rents up 2.3% year on year in UK

Private rental sector prices paid by tenants in Britain increased by 2.3% in the 12 months to September 2016, unchanged compared with the year to August 2016, the latest official data shows. There is some regional variation with the data from the Office of National Statistics (ONS) showing rents up by 2.5% in England and 0.1% in Wales but down by 0.1% in Scotland. Rental prices increased in all the English regions over the year to September 2016, with rental prices increasing the most in the South East with growth of 3.5% while prices across the country excluding London increased by 2.1%.
October 28, 2016
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Home owners are more happy than those who rent, research suggests

People who own their own home are generally happier than those who rent but in the UK the divide is the more marked compared to the rest of Europe, new research has found. Fewer than half UK renters are happy with their situation compared with 80% of home owner while in the rest of Europe it is 57% and 77%, according to the survey by Dutch bank ING. ING said that this may be linked to affordability and a less well developed renting market which makes it more difficult for people to find a suitable home in which to feel secure as those renting in the UK find it difficult to pay their housing costs compared…
October 27, 2016
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Mortgage tax relief change in UK will not deter majority of landlords

Most landlords in the UK plan to continue business as usual despite the recent raft of political changes, including net year’s cut on mortgage payment tax relief, a new survey has found. Four in five landlords have no intention of changing their plans to invest in buy to let properties, despite fears that Brexit would create a property slow down, according to the annual Landlord Voice survey from Simple Landlords.
October 27, 2016
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Property prices forecast to rise £44,000 over five years

The price for an average property in the UK is set to increase by £44,000 over the next five years, despite any warnings “Project Fear” had spread pre-Brexit. The average British property will gain some extra value every year until 2021, when it will be worth around £254,000, the Centre for Economics and Business Research (Cebr) has revealed. The think-tank explained that activity is very likely to slow down slightly next year, but also said that this had already been dampened slightly due to the stamp duty hike for buy-to-let investors. These forecasts are quite the opposite of ex-Chancellor Osborne’s rather negative assessment of the property future during the referendum campaign earlier this year. At the…
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