Average selling prices for UK properties hit a record high in September according to mortgage lender Halifax, with property portal Rightmove reporting asking prices still on the rise.
A study by one of the industry giants found that property values close to a major regeneration site increased over 3% p.a. faster than the wider area. These are 4 of the fastest changing cities in England and their regenerating areas that investors should have on their radar.
Six months ago, economists were forecasting a difficult housing market with a collapse in demand and price falls in the double digits. In any previous recession they would have been right. Not this time, with activity strong and prices 5% higher than a year ago.
Within days of Savills' June house price forecast, Chancellor Rishi Sunak trumped it with the announcement of a Stamp Duty holiday. Add to that the unexpected post-lockdown mini-boom and an update was needed. Here it is and, once again, it surprises on the upside.
Manchester has just approved plans for two developments described as 'co-living' apartments. They are huge. Between them, they will comprise some 1,875 units providing around 3,000 bedspaces. Co-living is a new word that we're going to see a lot more of, so is it a new opportunity or something to be avoided?
As expats ourselves, we really do understand the temptation to sit on cash right now. However, for those with a reasonable amount of capital and confidence in their job security, there are a number of reasons why this is probably the best time to invest in UK property in a decade.
In it's September report the Bank of England confirmed that it was exploring ways to overcome obstacles to negative interest rates. Opposite to all that we have been brought up with, it feels counter-intuitive, perverse even, but it could very well become a reality.
Housing prices recover from a recent dip to an all time high in August with annual house price growth now standing at 3.7%.
It seems that home buyers reaction to the pandemic is outweighing economic concerns, driving property prices to new highs. So, what is happening and where might we go next?
According to the Zoopla/Hometrack Index, property values in the UK's major cities do not appear to be suffering any ill effects from the pandemic, with 16 of the largest 20 recording gains of 2% or more over the last year
Although the overall numbers for annual rent rises is largely flat on a national basis, there are big disparities between the capital and most of the rest of the UK, with some areas seeing substantial increases.
British expats, Hong Kongers and astute overseas investors are flocking to buy UK properties. Once again, the regional cities are attracting a lot of interest.
House price growth rebounded in July as activity bounces back, with prices up 1.7% month-on-month.
Much has appeared in the press about an exodus from the cities in search of outdoor space. A trickle? Probably. A flood? Certainly not.
With affordability being stretched and rental yields being squeezed, more and more London based investors are heading north