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: declining mortgage rates lift property market sentiment to a two-year high, UK estate agents report third straight month of rising demand and landlords are flocking to Manchester and Birmingham…
Falling mortgage rates drive sentiment in property market to a two-year high
“Estate agents are becoming increasingly confident in the UK housing market’s recovery. They anticipate a rise in sales in the coming months amid increasing demand and more stable house prices.
There has been a “rekindling” of new buyer interest in the housing market amid gradually falling mortgage rates and building anticipation of interest rate cuts, according to a closely watched survey from the Royal Institute of Chartered Surveyors (RICS).”…
– Guy Taylor, CityA.M.
UK house prices should return to growth in next year, Rics survey shows
“House prices across the UK are expected to return to growth within the next 12 months after an increase in new property listings and buyer interest, according to an industry poll.
“With the inflation backdrop turning a little less difficult of late, this has led to expectations that the Bank of England will be able to start lowering interest rates later in the year,” he said”…
– Zoe Wood, The Guardian
UK estate agents report third consecutive monthly rise in demand
“UK estate agents are becoming increasingly optimistic about the housing market, reporting a third consecutive monthly rise in demand as prices have stabilised, according to a closely watched survey.”…
– Aiden Reiter, Financial Times
Why are landlords flocking to Manchester and Birmingham?
“Manchester took the top spot as a destination for landlords in Paragon’s analysis,which found that the M14 postcode – covering Fallowfield, Rusholme, Old Moat and Ladybarn – was the most popular location to invest in 2023. Here, the average weighted rental yield, according to Paragon’s data, is 7.5%.
The second most popular place for landlords to buy property was Birmingham, said Paragon. The particular postcode that investors were honing in on in 2023 was B29 – covering Selly Oak, Bournville, Edgbaston, Kings Heath, Northfield and Stirchley – with yields of 6.9%”…
– Eleanor Harvey, BuyAssociation
Stockport council leader promises more ‘homes, jobs and regeneration’
“The leader of Stockport council has promised more homes, jobs and regeneration, as the Lib Dem Group launched its local election campaign.
Last month, Stockport’s new transport interchange opened for the first time, and there are plans to further develop the area around the town’s train station – a scheme known as Stockport Exchange”…
– Declan Carey, Manchester Evening News
UK property investment: North East and North West strongest regions
“If you’re considering a UK property investment as a buy-to-let landlord, Zoopla’s research has revealed that the North East and the North West are the top regions when it comes to average yields.
The North East and North West regions of the UK are currently identified as the strongest areas for property investment and, according to projections, rents in the UK are expected to rise by approximately 5% by the end of 2024…
– Eleanor Harvey, BuyAssociation
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 – 15/4/2024
