Direct Property News

In a time when housing is becoming less affordable and people are looking for more flexibility, one man had a very different approach to the problem and turned a double-decker bus into a modern two-bed flat. The former village bus has recently been converted into a flat is still fully functional and has a valid tax disc and MOT certificate. It’s listed on property site onthemarket.com as a two-bed flat in Brighton, where the bus is parked at a farm nearby. Available at a price of just under £30,000, the bus still shows off some quirky leftover from its previous life like the “bus stopping” sign which light up when someone is using the bathroom. The…

Britain’s homeownership has reached a 30-year low and financing housing is taking out an ever growing chunk of people’s income, a new report by think tank Resolution Foundation revealed. The new report doesn’t hold out too many hopes for young adults, those dubbed Generation Rent, when it comes to homeownership. Resolution Foundation detected a significant shift in how the housing market in the UK works. Traditionally, the main influencer on when you could buy a home was your age. As people got older they would climb up the career ladder – some faster than others – and therefore earn more. In recent times, however, price growth for housing is overtaking the rise of wages significantly. Rent…

The price of a home will still be around £40,000 more in five years’ time despite the “tremors” caused by the Brexit vote, according to forecasts from one think-tank. The Centre for Economics and Business Research (Cebr) said that while property values are expected to show weaker growth for the rest of 2016 and into 2017, the general direction of prices is still expected to be up.

The nine most profitable areas in the UK to be a landlord have been announced in the Buy To Let Index by online lending and investment platform Lendinvest. Using historical purchase prices from the Land Registry and current average rental prices on property website Zoopla, Lendinvest created a list of the areas with the best annual rental yields (given as a percentage).

With proportions of owner-occupier rates in the UK dropping from 71% in 2003 to 63% this year, the private rental sector has got some exciting times ahead of it. Set on a small estate in Manchester’s Salford area, the red-brick homes are dubbed as build-to-rent and sit right next to their brothers and sisters that will be sold to first-time buyers, as the Financial Times reported.

The claims come after a week in which six city skyscraper apartment blocks won planning permission or took a step closer to development. The Manchester apartment building scene is not overheating, despite a rash of new development plans, says one of the city’s top property lenders. The claims come after a week in which six city skyscraper apartment blocks won planning permission or took a step closer to development.