According to global real estate firm JLL, the Northern powerhouse and England’s second largest city will see the highest house price growth in the UK, in excess of 17% over the next five years. The city continues to thrive and has attracted more foreign direct investment than any other city outside of London in recent years. Regeneration continues with £1.4bn development works commencing in 2020 adding to the attractiveness of the bustling city which is home to many international companies and famous universities. Longer term, the highspeed rail 2 project will cut travel times to London by 50% to just over an hour.
Posted by: Kelvin Tayfield, Sun, Jan 24th 2021
Fears that the ending of the stamp duty holiday will put a stop to the UK housing market surge seem to be unfounded. In a recent survey by UK property advisory company, Moving Home Advice only 29% of buyers listed the stamp duty holiday as the reason for buying now. Furthermore, only 8% of respondents were motivated by low interest rates. The survey found that the outlook for the UK property market is still positive with 37% of buyers saying that they plan to buy regardless of the ending of the stamp duty holiday.
Posted by: Kelvin Tayfield, Sun, Jan 17th 2021
The Government continues to show their commitment to the England housing market and has allowed this sector to remain open during the current lockdown which has seen non-essential businesses shut down completely. Estate and letting agents, removal firms and surveyors are allowed to continue operating as usual as are construction companies. Physical viewings are still possible as long as government safety guidelines are followed. Despite this concession, most buyers continue to take advantage of the huge strides the industry has made with virtual viewing technology as a result of the first Covid lockdown.
Posted by: Kelvin Tayfield, Sat, Jan 9th 2021
Over the recent past Middle East investors had to manage a number of key variables when deciding on UK property investment which has put a brake on demand from the region. Brexit, Covid and the consequent inability to travel have made it difficult to commit to significant investment. Now that Brexit has been completed and the vaccine is being rolled out thereby improving the outlook for international travel, increased demand is expected from Middle East buyers. Prime Central London property, a Middle East favorite is seen as good value nowadays and should benefit the most according to Savill’s head of UK residential research, Lucian Cook.
Posted by: Kelvin Tayfield, Sun, Jan 3rd 2021
With Brexit largely concluded, the rush to capitalize on the stamp duty holiday and sustained low interest rates the UK housing market should remain robust during 2021. The performance of the sector in 2020 has given banks the necessary confidence to increase exposure to the sector despite the uncertainties created by Covid and Brexit. In addition, the government has demonstrated their support for the sector as is evidenced in the latest lockdown which has allowed stakeholders to continue business as usual. Rightmove has predicted 4% growth in 2021 which is considerable given the recession risks and the growth achieved in 2020.
Posted by: Kelvin Tayfield, Sat, Dec 26th 2020