Private rental prices paid by tenants in the UK rose by 2.6% in the 12 months to January 2016, up from 2.5% in the year to December 2015, the latest index shows.
The data from the Office of National Statistics (ONS) reveals that rental prices grew by 2.7% in England, 0.3% in Wales and 0.8% in Scotland with rents up the most in London at 3.9%.
It means that overall rents are up 0.1% in annual terms compared with the year to December 2015, and up 0.7% compared with the annual price increase in January 2015.
Urban development land values across the UK have continued to increase more than those for greenfield land, according to the latest research.
Urban land values increased by 1.5% in the fourth quarter of 2015, up from 0.2% in the third quarter, taking annual growth to 7.1% while greenfield land values increased by 0.7%, up from a fall of 0.1% in the previous quarter and year on year by 2%.
The latest residential development report from real estate firm Savills says that the increase in urban land values reflects a rise in demand due to an improved economy, stronger markets and increased viability.
The number of new-build homes being started and finished in England is at its highest level since 2008, according to government figures.
Construction on approximately 37,080 new homes was started between October and December 2015, up 23% on a year earlier, while 37,230 were completed, marking a 22% increase on the same quarter in 2014.
The latest totals were the highest in nearly a decade, according to the Department for Communities and Local Government (DCLG), which released the figures.
There were 143,560 housing starts in the 12 months to December 2015, up 6% on the year before. And 142,890 homes were completed in the 12 months to December 2015, marking a 21% increase compared with the previous 12 months.
This Saturday renters in London are taking to the streets in a “day of action” calling for an end to what they describe as “discriminatory practices” which deny housing to people in receipt of benefits.
The ‘Yes DSS’ campaign, launched by private renter group Digs calls on letting agents, landlords and mortgage lenders to remove blanket ‘No DSS’ policies that are becoming increasingly common across London.
Digs phoned 50 letting agents in Hackney and found only one property, a one studio flat in the north of the borough that was available to people who claim housing benefit.
A developer behind a luxury London housing project has warned of challenging conditions in the capital’s property market, amid growing concerns of a supply glut in prime homes.
Capital & Counties (Capco), which is leading the regeneration of the Earls Court exhibition centre in west London, has reported a slowdown in sales of luxury flats on the site. It blamed the weak demand on increasing supply of high-end housing across the capital and a new stamp duty surcharge on second homes, which comes into force in April.
Flats in the Lillie Square development are being sold for more than £1,500 per sq ft, and two-bedroom flats are going on the market for more than £1.3m. The first phase of the project sold quickly when it launched in 2014, with 85% reserved in the first five weeks, but phase two, which launched in September 2015, is taking longer to sell.
The supply of rental accommodation in the UK is the lowest since records began a year ago, while demand for accommodation rose slightly in January 2015, the latest data shows.
After a period of gentle decline, the number of properties registered per letting agent branch dropped by 5% to 172 in January, some 10 fewer than in December, according to the report from the Association of Residential Letting Agents (ARLA).
A breakdown of the figures shows that supply in Scotland stands above the national average, with 280 properties available per member branch, while the supply of rental properties in London is 59% with only 116 properties per branch. However, London has seen a slight increase in the number of properties available over the last month, rising from 108 in December 2015.
A couple were shocked to discover their farm cottage is set to be surrounded by a 700-home estate - despite not being consulted when developers first applied for planning permission.
Cheryle Walton and her partner Paul Jones were unaware of plans to build the "mini town" until a passer-by mentioned the development.
But the 507,500-square metre development in Chippenham, Wiltshire, is set to encompass their detached cottage, which currently sits in miles of fields.
More first time buyers took out a loan for a home in Scotland in 2015 than in any year since 2008, the latest data shows.
Home owner house purchase lending in the fourth quarter of 2015 totalled 17,200 loans, down 4% on the third quarter but up 14% in the fourth quarter 2014, according to the figures from the Council of Mortgage Lenders.
A breakdown of the figures shows that first time buyers took out 8,000 loans, 2% down on the previous quarter but up 14% on the last quarter of 2014. They borrowed £870 million, down 2% on the previous quarter but up 14% on the fourth quarter 2014.
At the beautiful Central Hall in Westminster, the property industry’s charity LandAid hosted a debate on Tuesday night on housing issues, with three of the London mayoral candidates – Zak Goldsmith (Conservative), Sadiq Khan (Labour) and Caroline Pidgeon (LibDem).
Missing was Sian Berry (Green), although the party fielded a Green London Assembly member, Darren Johnson, in her absence.
LandAid last year gave out £1.2m worth of grants which supported 6,767 young people.
Lucian Cook of Savills – the headline sponsors of the night – said that 130,000 young people had asked for help with homeless-related issues last year, with 65% of those in work or studying.
Homeless people are finding it harder to secure a place to live as changes to benefits have made landlords more reluctant to let properties to them, according to research by the charity Crisis.
It said people were finding themselves stuck in a homelessness trap, with the competitive rental market leading to high upfront costs as well as fewer places to rent.
The charity’s survey of more than 800 landlords found that 82% were unwilling to offer homes to people who did not already have a fixed address, and that direct payments of universal credit and housing benefit had made two-thirds more reluctant to do so.
A wide variety of small and mid-sized farms and blocks of land are for sale this week across England – with one tenancy available too.
They include well-equipped livestock farms, bare blocks of grass and arable land and good cropping land with irrigation potential.
A one-year Farm Business Tenancy is also available on a stock farm in Shropshire, with the potential to extend the term.
Counties with farms and bare land for sale include Cumbria, Wiltshire, Northamptonshire, Devon, Shropshire, Lincolnshire and Bedfordshire.
DEVELOPER J F Finnegan has scooped a £3m design and build contract for a 75,000 sq ft speculative warehouse development in South Yorkshire.
The Sheffield-based contractor will create Unit 5 at Gateway 36 in Barnsley, which aims to address the regional shortage of quality industrial accommodation.
It will be developed as part of the first phase of Harworth’s Gateway 36 scheme, which comprises 127 acres in three phases with direct frontage to the A6195 Dearne Valley Parkway, just off the M1 south of B...
APPROVAL has been granted for a £160m development at Alderley Park in Cheshire.The scheme, including a 410,000 sq ft laboratory in addition to more than 1 million sq ft of space for life sciences already in place and could secure as many as 7,000 jobs, was approved today by Cheshire East Council’s strategic planning board.There will also be offices and light manufacturing, 16,000sq ft of retail, restaurant, a pub, 275 homes and a 100-bed hotel.Rowena Burns, chief executive of Manchester Science Partnerships said: ...
The chief executive of Countrywide says there’s “no change of course” after a 37 per cent slump in operating profits were announced by her company this morning.
In an interview with Estate Agent Today, Countrywide chief executive Alison Platt says the results did not come as a surprise.
A SPECTACULAR build-to-rent property scheme next to the Lowry Hotel in Manchester has been revealed by Bruntwood and Select Property Group.The second joint venture by the two companies will see buildings comprising 506 apartments in the prime city centre location on the banks of the River Irwell.The scheme, which will operate under Select’s Affinity Living brand, is located on New Bailey Street on the riversi..
A detailed analysis by Hometrack reveals that new-build transactions - running at roughly 10 per cent of all house sales for each of the past 20 years - are now accounting for 11 per cent and are still edging upwards.
The Hometrack analysis looks at data from the Department of Communities and Local Government showing that new private housing starts are up by 3.1 per cent in the last year and up by 33 per cent over the last three years as builders increase output on the back of rising transactions and improved housing demand.
Residential property sales in the UK fell by 2.8% between December 2015 and January 2016, according to the latest data published by HMRC, the UK’s taxman.
However, the seasonally adjusted sales figure is 9.7% higher compared with the same month last year, with transactions reaching 105,940.
Doug Crawford, chief executive officer of My Home Move, believes that it is significant than January sales are up considerably year on year. ‘This could be accredited to a spike in purchases by additional home buyers looking to escape the rise in stamp duty, set to be introduced in April. This may continue to provide a short term boost for a matter of weeks,’ he said.
London is often regarded as the powerhouse of the UK property market but new data shows that house purchase lending in the city fell in 2015 in comparison with the previous year.
But remortgaging increased, according to the latest data from the Council of Mortgage Lenders covering the fourth quarter of 2015.
There were 21,800 home owner house purchase loans, down 4% on the third quarter but up 5% compared to the fourth quarter 2014. These loans were worth £6.7 billion, down 7% quarter on quarter but up 16% year on year.
It’s well known that you have to dig deep to enter London’s property market, but this lot that sold at auction on Tuesday demands actual spadework.
Marketed as “a vacant front basement suitable for redevelopment”, this was one for investors willing to take a risk on getting the right planning consents. Prospective buyers were told, “There will be no internal viewings due to lack of access (excavation required)”.
The leasehold for the basement space below flats in New Eltham, south London, was up for sale with the Auction House at a guide price of £25,000. Bidding reached £27,000 before the hammer came down. The lot was sold by the freeholder of the property.
PROPERTY investors Accrue Capital hav sold three office buildings in a £2.4m bundle.
The sites, at Sheffield Business Park, have been acquired by DS Properties.
The deal reflects a net initial yield of 8.88%.Units 1, 2 and 3 Europa Court total 26,170 sq ft and generate a combined rent of £225,570 per annum.
They are let to occupiers including Foster Care Associates, Excel Parking Services Ltd and Stanley Black & Decker.Sheffield Business Park extends more than 200 acres with 600,000 sq ft o..
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