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 property market is recovering faster than rest of Europe; the rate cut is expected to boost Autumn activity; and New National Planning Policy Framework set to boost property sector…
New National Planning Policy Framework set to boost property sector
“Since coming into power in July, new Labour prime minister, Sir Keir Starmer, has made it clear that ‘getting Britain building’ is going to be a cornerstone policy for the party.
Headed up by the likes of deputy prime minister Angela Rayner – the new Secretary of State for Levelling Up, Housing and Communities – and housing minister Matthew Pennycook, a big aim of the document is to open up more space on which to build much-needed homes for the country”…
– Eleanor Harvey, BuyAssociation
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UK property market is recovering faster than rest of Europe
“Industry executives and agents said the UK has benefited from hopes for political stability after the general election, stronger economic prospects, rising rents and a more moderate run-up in prices between Brexit and the market’s peak in 2022.
“The UK has probably been the fastest recalibrating market,” said Mark Ridley, chief executive of Savills, which advises on commercial deals. “Where there is uncertainty is how fast and how far the recovery goes””…
– Joshua Oliver, Financial Times
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Rightmove expects rate cut to boost Autumn activity
“The portal says that market activity has gone up due largely to the cut in interest rates by the Bank of England, which reduced the Bank Rate from 5.25% to 5% on 1 August, boosting buyer and seller confidence.
Rightmove reports a 19% jump in the number of potential buyers contacting estate agents since 1st August, compared to the same period in 2023. This compares to an 11% increase seen in July this year. The number of new sellers putting their homes on the market is up 5% compared to this time last year”…
– Jo Thornhill, Bethany Garner, Forbes
Will UK house prices fall? Latest property market predictions explained
“UK house prices have been on something of a journey over the past two years but finally appear to be back in positive territory, especially with the cost of borrowing now dropping”…
– Henry Sandercock, MoneyWeek
£1 billion MIX Manchester plans awaiting take-off
“The 60-acre site’s 10-year masterplan, developed by Sheppard Robson, aims to be the “UK’s best-connected science and innovation destination”, according to a press release.
It will be situated just 400 metres north of Manchester Airport, between the M56 and Enterprise Way”…
– Charlie Valentine, Place North West
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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 – 26/8/2024
