Since the Brexit referendum has happened, the UK housing market has been experiencing some instability in certain areas. It has been facing major difficulties in the recent months in properties at the higher end of the spectrum and in certain geological areas. This, in turn, has resulted in uncertainty from buyers. Since 2016 the average price in the UK has gone up to over £220,000 per dwelling. Although this pricing has gone up between 2012 and 2017, the earnings growth hasn’t corresponded to this, making it extremely difficult for people to buy houses. Richard talks to us about 3 important aspects of the housing market that you could take advantage off.
A fixed rate mortgage might be the best option for you
• You remain stable for consecutive years.
• Can be used with buy-to-let properties too.
• More properties are being built and are expected to come to the market this year.
• First-time buyers can take advantage of schemes like Help to Buy to further augment choices.
Buy-to-let is still a viable option for investors
• Tax reforms left uncertainty for buy-to-let investors.
• Liverpool has increased in rents at 6.2% PA.
• Nottingham increased in rents at 6.2% PA.
• Cardiff increased in rents at 6% PA.
• Southampton increased in rents at 5.9% PA.
• Greater Manchester increased in rents at 5.9% PA.
• University towns remain a good place to invest in buy-to-let.
Affordable homes are available
• Local councils are working with private developers to make housing assessible for all.
• Shared ownership allows you to part-own or rent part of a home.
• Government schemes including Help to Buy.
• Areas such as the west of the UK are cheaper to live.
• Stamp duty has been abolished for first-time buyers if the property they are buying is less than £300,00.
The rise of flexible working and the phenomenon of renting desks rather than whole spaces is changing the way commercial property is managed.
It’s likely that an increasing number of large commercial spaces will be altered and converted into smaller units. These would be designed specifically to attract smaller tenants, including sole traders, start-ups and SMEs. Continue reading →
The uncertainty surrounding Brexit and the ongoing negotiations has led to questions over the future of every sector of business. And commercial property is no different.
Following the vote in June 2016, investment in commercial property did fall somewhat. Hotels, office space and retail properties took the biggest hit. However, there is still plenty of demand from tenants and, while initial numbers suggested tentative behavior, it could be a market correction, not a crash. Continue reading →
Fresh evidence indicates that demand for UK commercial property increased in the third quarter of 2016. Richard Carr comments.
Commercial property is becoming increasingly critical to the British economy, now accounting for 10% of the country’s net wealth. Data from PIA (Property Industry Alliance) indicates that the combined value of the UK’s commercial property stock rose by 11% from 2014 to 2015, to reach £871bn. Continue reading →
Recently released statistics indicate that following the fall-out from the UK’s decision to leave the EU (Brexit), demand for Central London office space is now picking back up. Richard Carr comments. Continue reading →
Leading industry body the Property Industry Alliance (PIA) recently released landmark research. According to PIA, the collective value of UK commercial property climbed to an all-time high last year. Continue reading →
Some experts believed that the UK’s decision to vote to leave the EU, would damage London’s commercial property sector. The theory was that overseas investors, who are critical to the market, would begin to shy away from London, as it would no longer be able to serve as a springboard to the EU. New figures have shown Richard Carr that this theory does not seem to hold water. Continue reading →
Like in the residential property market, demand is high for prime rental office space in the UK’s main regional cities. Growth across such markets have experience an average increase of 4.3% in the year to June 2015.
Property consultants JLL’s data reflects a solid outlook for the next 12 months for demand and tight supply of new space.
“Sustained levels of occupier demand combined with the decreasing availability of Grade A office supply has contributed to healthy rental growth with year on year increases witnessed in all bar one of the core eight cities,” said Jeremy Richards, dead of national office agency at JLL.