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
UK House Prices Set to Boom Over the Next Five Years
Leading property firm Savills have updated their 2021 forecast to 4% from their previous expectation of no growth, a significant difference. Their five-year view is for 21.1% across the UK with the North West leading the way at 28.8%. The firm’s view of Prime Central London properties likely to see a recovery with 21.6% growth by 2025 is in line with fellow expert firm Knight Frank. Savills Head of Residential Research attributes the upgraded outlook to the speed of the vaccination program roll out and the clear government support for jobs and the housing market. This, he says will underpin the market in H1 while a recovering economy will support the price growth towards the end of the year.
Posted by: Kelvin Tayfield, Sat, Mar 13th 2021
Prime Central London Property Prices Could Rise 25% by 2025
Leading property firm Knight Frank’s latest report predicts a bright future for Prime Central London (PCL) properties and expect 3% growth in 2021. The firm says that due to the travel restrictions, there is significant pent up demand which they expect to manifest itself once the travel ban is lifted with many new buyers waiting in the wings. Knight Frank has recorded an increase of 109% in new buyer registrations in 2021 many of whom hail from the Gulf region. PCL property prices are currently 20% below 2014 levels and represent a genuine buying opportunity according the firm.
Posted by: Kelvin Tayfield, Sat, Mar 6th 2021
UK Stamp Duty Holiday Set to Be Extended
The stamp duty holiday which increased the tax-free threshold from £125k to £500k until 31 March 2021 is expected to be extended by Rishi Sunak in his March budget speech. This is great news for those that have transactions in process as the industry has been struggling to keep up with the volume. Property portal Rightmove estimate that this extension could benefit an additional 300,000 transactions which is a significant number. Already there is a shortage of completed new build options across the country so developments set for completion in Q2 will now be in high demand.
Posted by: Kelvin Tayfield, Sat, Feb 27th 2021
Hong Kong Exclusive Launch: X1 Michigan Towers, Manchester
X1 Developments and Downtown International in partnership with Hartamas were proud to announce the successful launch of their latest UK residential project: X1 Michigan Towers in Manchester. The event was held at the Mandarin Hotel, Hong Kong this weekend and attracted an overwhelming number of local investors who all attended one of the many seminars that took place at event.
X1 Michigan Towers is an exciting new flagship development, which is set to change the skyline. This will features four iconic towers, each with unique façades with a stunning design.
Each tower is set within a modern landscaped public realm, which features cafe spaces, restaurants, retail and office space alongside the residential offer. With heights ranging between 14 and 35 floors, the towers provide both sweeping views of MediaCityUK, Salford Quays and central Manchester.
This mixed-use scheme is an ideal investment opportunity and is truly unique in its contemporary design and perfect quayside location.
Situated in the heart of MediaCityUK in the iconic Salford Quays, home to Coronation Street as well as the likes of the BBC, ITV, Ericsson and Kellogg’s.
This development presents an exclusive opportunity to invest in limited luxury property located at the very heart of Peel’s thriving MediaCityUK project.
To find out more, please contact us on +44 7852 901523
Posted by: Downtown International, Sun, Feb 21st 2021