Rental Demand in Manchester Rental Demand in Manchester is soaring, it is now reported that nearly 30% of housing in Manchester is privately rented. The market is in high demand and the under-supply of private rented accommodation is expected to rise by up to 40% over the coming 10 years. The UK’s 2nd city, is [...]
Rising UK House Prices Means First Time Buyers are Frozen out Rising House Prices Restricting First Time Buyers. UK's rising house prices have been outpacing wage inflation for many years, which for many aspiring homeowners, has left the first time buyers needing larger deposits which has made home ownership getting further out of reach for [...]
UK House Prices have Risen 10.1% UK House Prices have Risen 10.1% in the first three months of 2016 by 2.9%, compared with the last three months of 2015. Halifax Housing Economist Martin Ellis, said “House prices in the first three months of 2016 were 2.9% higher than in the final quarter of 2015. The annual rate has grown from 9.7% to 10.1% in March.” “Current market conditions, however, remain very tight with an acute supply/demand imbalance continuing, together with continuing low interest rates and a healthy labour market, indicate that house price growth is set to remain robust.” Key Facts UK: House Prices have Risen 10.1% House prices in the three months to March were 10.1% higher than in the same three months a year earlier. This was higher than the 9.7% rise recorded in both January and February. The annual rate has been within the 8%-10% range for nearly the whole period since the start of 2015. House prices rose by 2.6% between February and March. The quarter on quarter change is a more reliable indicator of the underlying trend. Monthly house price changes can be volatile. (Source:Halifax House Price Index 2016). Supply remains very low despite more sales instructions. New instructions by home sellers increased for the third successive month in February following ten monthly falls in a row. This rise, however, was not sufficient to prevent the stock of secondhand properties for sale falling as sales increased. The stock for sale remains close to record low levels. (Source: Royal Institution of Chartered Surveyors’ (RICS) monthly report). Many of the currencies in the Gulf are pegged against the US dollar. As we experience a period of dollar strength, it is an opportune time for buyers from the Middle East region to buy property in the UK as the strong dollar increasing overseas purchasing power from the. Please contact our Dubai or London office to buy property in the UK. […]
UK Property Investment From China There has been a constant interest in UK property investment from China. The market has been attracting investment from international buyers in the droves. It is reported that international buyers, largely from the Asia and the Middle East are accounting for up to 85% of sales in new build developments in popular London hot-spots. China have shown a large appetite for global property over recent years, which has not stopped. Here we look into the likely activity and demand from China over the course of 2016. The Chinese stock market over recent months has been immensely volatile. With the Shanghai Stock Exchange closing after experiencing significant price drops in a trading day. This has been a cause for concern for Asian investors and global investors with large exposure. It has raised the question regarding China’s economy and its ability to withstand such shocks. With the Yuan dropping against a basket of currencies and government measures to control the flow of capital out of the country The question remains will the demand for property from China continue. China’s appetite for high yielding property The market driver behind the majority of buyers from China is for investment. Historically, we have seen an emphasis from this region on capital growth being the main investor focus. Furthermore, moving into 2016, it seems investors are also showing a large appetite for high yielding property assets. Due to the sharp increase in London property prices since the global crisis, the rental yields have decreased. The yields achievable in the Northern cities; Manchester and Liverpool, add to the attraction of buying in the ‘Northern Powerhouse’. The yields are far higher, additionally it is now being viewed that due to the developing infrastructure and investment. Moreover, there is also a greater opportunity for capital appreciation. Key Developments attracting Investment from China Developments in infrastructure are luring UK Property Investment from China. Key developments such as HS2, which will link Manchester Piccadilly and London in 1 hour, the extension to Manchester’s tram system and the £1bn airport transformation, demonstrate the long term growth potential of the ‘Northern Powerhouse’. Additionally, the rise in Stamp Duty Land Tax introduced earlier this year, has meant that expensive London properties weaken the appeal. The additional 3% payable for buy to let investors acts in some degree as a deterrent from expensive London property. Consequently, this has steered UK Property Investment from China to the North of England. China’s confidence in the UK property market The confidence in the North of England as a location UK Property Investment from China market is rising, as now Manchester is not just receiving investment from property buyers, it is also coming from property builders. The Beijing Engineering Construction Group are developing Manchester’s Airport City, a whopping £800m site. Set to be a hub for Chinese businesses, where street names will be in both English and Mandarin. China’s President Xi Jinping, conducted a site visit last year to the Manchester’s Airport city, this show of backing from such an influential figure has boosted Chinese investor confidence in Manchester. Cultural ties between China and the UK Liverpool Chinatown is the first Chinatown established in Europe and it is estimated that there now are around 10,000 Chinese residents in the surrounding area. The rate of this population is set to grow in Liverpool and in Manchester due to the strong cultural ties and the established universities. There is a growing number of international students coming from from mainland China, Taiwan, Hong Kong and other parts of Southeast Asia. Manchester is highly accessible to Asia, with Manchester having direct flights to both Hong Kong and Beijing. Buyers in the UK and China have a common denominator in their view of property as an asset class. Both countries widely view investment into property as one of the best long term investment options available. With capital controls set to loosen and the critical shortage of homes available in the UK, UK property investment from China is set to continue. […]
UK Rental Demand: The number of Renters Rises as Home Ownership Falls Home ownership in England has fallen substantially in recent years and has now reached its lowest level in 30 years. As less people own their property UK rental demand rises. Due to property prices continuing to rise faster than wages the task for [...]
UK Apartment prices rise by £1,000 per month since the global financial crash. UK Apartment Prices Rise by over £1,000, which is more than many workers in the UK! UK Apartment Prices Rise above the all other property types in the UK since 2008 Flat prices have shown the highest growth since 2008, outperforming all [...]
Demand for UK Property Rises But Property London Demand Drops National property demand in the UK has increased by 3% overall since the first quarter of the year but it is down by 2% in London, the latest hot spot index shows. The stamp duty hike in April of this year created a whirlwind of [...]
London’s Rising house prices are driving people out of the capital The number of people in their thirties leaving the capital has jumped dramatically in the last year new analysis shows, the trend coincides with London's rising house prices. Data from the campaign group Generation Rent, showed that the net outflow of people in their [...]
