Direct Property News

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.

Property prices in the UK increased by 1.3% in June but the underlying pace of growth is slowing with year on year prices down to 8.4% from 9.2% in May, the lowest since July 2015. This takes the average price to £216,823 and the data from the Halifax house price index also shows that quarterly growth was 1.2%, also down, compared to 1.5% the previous month and the lowest since December 2014.

Lower mortgage costs, higher pension values and a booming stock market were today indicating that Britain’s Brexit bounce-back may have begun. The blue-chip FTSE 100 equity index was up 0.1 per cent at 6,541.11 points in early session trading. The FTSE 100, which is dominated by international companies that do much of their business outside the UK, has recovered from an initial 6 per cent drop after the June 24 “Brexit” result.

IT’S all a bit scary property-wise at the moment, but the important thing is not to panic. For those worried about price falls, first-time buyers and those trading up could actually benefit. It’s only an issue if you want to sell your property and trade down. For those worried about interest rate hikes, many buyers are now on fixed rate mortgages, so just check with your lender and/or mortgage broker and know under what circumstances your mortgage payments may increase and what notice you may be given. Property prices have pretty much recovered since the last falls in 2007/8 and are rising above these levels. Mortgage rates are pretty much at their lowest level so, even…

Growth in UK house prices picked up in June, but agents and analysts are warning that Britain’s decision to leave the EU will affect demand and prices in the coming months. The average price of a property rose by 5.1% from a year ago to £204,968, according to Nationwide building society (pdf). This compares with an annual growth rate of 4.7% in May. It has been fairly stable over the past 12 months at between 3% and 6%.

The British people have spoken and in one of the largest turnouts in modern history they voted by a margin of 48 per cent to 52 pc, to leave the European Union. And with the sterling seeing the steepest drop in value in 31 years and Prime Minister David Cameron announcing that he will resign by October, many are concerned of the uncertainty of Britain’s future. So what can we expect from the post-Brexit world? We spoke to property experts to find out what they believe will be the consequences for Manchester and the UK.