The 7am Cut
BuyAssociation curates a weekly news letter of the top property news headlines – to receive your weekly round up of property news, register today.
In the news this week: UK house sales rise 12% in April; buyer numbers are up by 4% as UK housing market accelerates; and Manchester is highlighted as a hotspot in the UK property market…
Buyer numbers up by 4% as UK housing market accelerates
“The UK housing market continues to strengthen as we move towards the middle of the year, with prospective buyer numbers and viewings per property on the rise.
Not only are more buyers registering their interest in finding a new property, but they are also pushing ahead with viewings, with the average property receiving around 3.5 viewings in March when the figures were recorded”…
– Eleanor Harvey, BuyAssociation
Read the full article
UK house sales rise 12% in April
“UK house sales rose for the seventh consecutive month in April, according to data from property platform Zoopla, suggesting that lower mortgage rates are fuelling a market rebound.
The number of sales agreed rose by an annual rate of 12% in the four weeks to April 21, marking an uninterrupted increase since October last year, Zoopla data showed on Monday”…
– Valentina Romei, Financial Times
Exploring the Booming Property Market in Manchester: What Buyers Should Know
“Manchester has emerged as a hotspot in the UK property market. Known for its rich industrial heritage and vibrant culture, the city has recently seen a significant surge in demand for residential properties, making it a prime location for buyers and investors”…
- News Desk, Manchester Gazette
Flats are back in vogue as ‘race for space’ reverses
“Demand for flats has driven UK property prices so far this year, as more first-time buyers settle for smaller homes.
Prices for flats grew 2.7% over the year to February, up £4,290 according to high street lender Halifax – after sinking by as much as 5.9pc last autumn”…
– Ruby Hinchliffe, The Telegraph
Mortgage approvals rise in busier housing market
“Mortgage approvals rose in March to their highest level since Liz Truss’s mini-budget left the property market in chaos in 2022.
Figures from the Bank of England show that 61,300 borrowers were approved for a home loan, up from 60,500 in the previous month. The number is broadly in line with City analysts’ expectations”…
– Jack Barnett, The Times
Average rents in Great Britain climb to record high
“Average private rents in Great Britain have risen to record highs, with annual rental growth in hotspot locations such as Reading and Coventry running at almost 20%.
Data from the property website Rightmove shows that the average advertised rent outside London climbed to a record £1,291 a calendar month in the first quarter of 2024. That is 8.5% higher than a year earlier – a rate of growth well ahead of inflation”…
– Rupert Jones, The Guardian
BuyAssociation is an established voice in the UK property industry. As well as producing our own content and daily property articles, we curate a newsletter each week highlighting the week’s top headlines for UK property news articles, stories and reports. Stay ahead of the market and join over 30,000 of the world’s most informed property investors by registering today!
The 7am Cut – 6/5/2024
