Direct Property News

January 30, 2017

New investor demand in UK commercial property market rebounds post Brexit

Despite some concern surrounding potential relocation of companies based in the UK due to Brexit, demand from overseas buyers in the commercial property sector was up notably across all areas of the market in the fourth quarter of 2016. Demand increased for a second straight quarter with the growth in enquiries gaining momentum but expectations for rental and capital growth moved back into negative territory in central London, according to the latest report from the Royal Institution of Chartered Surveyors (RICS). Some 21% more respondents saw a rise in demand in the final quarter of the year, up from 9% more in the previous quarter and foreign investment also saw a rebound, with the weaker exchange […]
January 30, 2017

Average house price in England could reach close to £1 million by 2037

Residential property prices in England could average over £300,000 in the next decade if they rise as much as they have in the last 10 years, new research shows. In London they would rise to over £800,000 and in the South East of England the average would be over £445,000, according to the study from online estate agent eMoov. The report says that in the last 10 years prices in England have increased by 29% and the same rise between now and 2027 would take the average house value to £301,864. In London they would rise 80% to £866,719 and in the South East a rise of 43% to £445.159. In other regions the rise would […]
January 27, 2017

Mortgage Values Reached Highest Level Since 2008 Last Year

Although house purchase mortgage approvals dropped in 2016, mortgage values rose to the highest level since 2008, figures suggest. Data from the British Bankers’ Association (BBA) for December show that banks approved 43,228 mortgages last month, up from 41,003 in November, but down by 4.1% on an annual basis. Meanwhile, estimates on mortgage values from the Council of Mortgage Lenders (CML) claim that gross mortgage borrowing reached £20.4 billion in December. Although this is 4% lower than November’s figure, it takes the total mortgage values of 2016 to a post-2008 high of £246 billion. An Economist at the CML, Mohammad Jamei, says: “The UK housing market, much like the wider UK economy, ended 2016 on a […]
January 27, 2017

Prime London property lettings market showing signs of improvement

Some areas of the prime property lettings market in London are seeing an upturn with locations outside of the central part of the city most likely to see a rebound, according to new research. Suburban locations are currently underpinned by a strong local market and those with improving transport links saw the biggest rent rises in 2016, the report from Benham & Reeves Residential Lettings suggests. It signals out Colindale in north London which saw rental rises of 4.7% but also points out that some prime rental locations are also seeing growth such as new developments north of Oxford Street. The firm suggests that even parts of prime central London which have suffered the most in […]
January 26, 2017

Brexit creates opportunity for UK property investment says industry organisation

The property industry in the UK is being urged to look at and act upon the opportunities that could open up as a result of Brexit rather than focusing on the negatives. According to the Property Industry Alliance (PIA), which brings together leading representative bodies from the UK’s commercial property industry, the Government also needs to take into account the real estate industry when formatting its Brexit deals. The PIA has identified five key areas that it believes the Government should take on board and points out that while Brexit poses risks to the real estate industry, it also opens up opportunities if the Government takes the right steps. It points out that overseas investment in […]
January 26, 2017

UK Property: 174,000 new homes a year is everything England needs

To hit the Government’s target of building one million new homes by 2020, England needs to build an additional 174,000 homes every year, a new review has revealed. The National Audit Office (NAO) has come to this conclusion after reviewing the housing market in England as well as the Department of Communities and Local Government’s housing strategy and housing policies overall. The need for additional housing has been on the rise in recent years in England across the board, with London experiencing the most dramatic increase. Amyas Morse, head of the National Audit Office, says, “The need for housing in England has in recent years grown faster than its supply, and housebuilding needs to increase across […]
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