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Arabian Property Awards

Stamp Duty Holiday End Unlikely to Affect UK Property Prices

According to research by leading property firm, Knight Frank the stamp duty holiday hasn’t had the impact many believe it has particularly in the lower value segment. Their study revealed a 30% year on year increase in properties going under offer. Analysis by segment show that properties below £500k where the stamp duty saving is most significant saw a below average increase. The biggest increase was seen in the £500k-£1m band with a huge 57% increase. Further analysis by Knight Frank showed the number of exchanges above £1.5m where stamp duty savings are insignificant increased 56% year on year.

Posted by: Kelvin Tayfield, Sat, Apr 17th 2021

Arabian Property Awards

Supply Shortage, Generous Credit Terms Continue to Spur UK House Price Growth

UK house prices grew by 6.5% compared to March 2020 with 1% growth last month alone despite the impact of Covid-19 on the economy. The supply shortage, government stimulus measures, vaccine roll outs and bank liquidity are expected to continue to drive this growth through the summer months. In addition, we should see increased activity from international investors as travel opens up with Middle Eastern buyers expected to lead the way.

Posted by: Kelvin Tayfield, Sat, Apr 10th 2021

Arabian Property Awards

Two of the Fastest Moving England Property Markets are in Greater Manchester

Data recently released by UK property portal Zoopla revealed that the two fastest moving market in England is Wigan with Salford in joint second along with Redditch, Knowsley, Sheffield and Medway. Homes in Wigan are sold in only 26 days while in Salford and the others it takes 27 days. Salford is set to continue this pace as it benefits from having the fastest growing tech hub in England, MediaCityUK. Zoopla data also showed that units priced between £150,000 and £200,000 are the quickest to sell.

Posted by: Kelvin Tayfield, Sat, Apr 3rd 2021

Arabian Property Awards

Manchester to Benefit from BBC Expansion in MediaCityUK

Last week the BBC announced that it will move additional jobs to the Northern Powerhouse, England’s second city. The national broadcaster plans to move a number of departments including their technology and digital teams to their Salford base which it established in 2011. This move was followed by many large companies making MediaCityUK a leading technology hub. For 2020/21 Manchester was voted the best city for business in Europe and saw the largest investment in office space outside of London. Despite many jobs being lost across the country Manchester announced 7,000 new jobs in seven months, a number which will be further boosted by the BBC plans.

Posted by: Kelvin Tayfield, Sat, Mar 27th 2021

Arabian Property Awards

UK Rents Increase Due to Supply Shortage

Data released by UK residential estate agency Hamptons reveal that rentals have increased the most since they started their index in 2012. Their figures reveal an 8% increase in house rentals outside of the capital London due to an increasing supply shortage exacerbated by the fact that new supplies since Covid were one third lower than the previous 12 months. The highest growth was in the South-East and South-West while the North remains robust and still achieves the highest rentals.

Posted by: Kelvin Tayfield, Sat, Mar 20th 2021