145 Per Cent Increase in New Home Registrations in London
New Homes in London
As per an estimate, 10 per cent of the land stock of the UK is owned by foreign investors and many first-time buyers are priced out of the market as the rates are at least 20 per cent more than earnings, while the Land Registry does not provide new home supply statistics.
The overseas investment in the London and South East has led to higher rate gains. For example, the cities of Liverpool and Manchester are getting buyers from Africa, China, Singapore, the Middle East, Kenya, and Nigeria. However, the latest draft on property transactions does not ban investment by non-residents in the country.
No Impact of Brexit on Rents
In London, at least 12 per cent of the homes on rent are owned by foreign buyers - the rate is 7 per cent more than last year. The decline in pound rates has made properties cheaper for international buyers, and the rising rents provide lucrative earning opportunities.
If the number of people who left the country during Brexit rises, it will raise vacancy for rents, which may cause a decline while rents continue to grow in the capital.
The negative promotion in the property market and the impact of Brexit led to the decline in the home cost in August, leading to one of the biggest declines since 2012, as per NBS.
The foreign investment in the UK increased capital rent to $2,100 a month. It is the highest, almost 72 per cent more than the average country rent of 937 pounds a month.
Rents continue to make a significant share of income, but tenants are not buying new homes. In addition, the rise in home expenses reduced affordability for first-time buyers without any substantial inheritance.
New Home Registrations
Although there are uncertainties in the market, the country's economic outlook does not lower investors' confidence. There has been a rise in new home registrations in London by 145 per cent in the 2018 quarter from June to August.
The investment is driven by sale and private rental goals. The registration of new homes in the private sector grew 7 per cent compared to 2017, and there has been an increase in registration of new homes by 23 per cent in the affordable sector.
The main contributors to the new registrations are the large housing association projects where 5,774 new residences were registered in the quarter from June to August in London, was 2,354 in the same quarter in 2017, while the registration of newly built in Scotland was the same in the months as 2017 and in Wales, the number reduced, while, in Northern Ireland, it almost doubled.
The Growing Median Price in Smaller Cities
As per a recent government analysis of smaller cities and remote locations in the country by ONS and HM Land Registry Lower Layer Super Output Areas, which are the smallest, the median price is in the range of £24,000 to £7.7 million (as per data till March 2018), and London's borough Barnet had the highest median outlay in the country. In addition, 45 small regions had a median of more than £2 million till March.
To know more about UK properties, click Hamilton International Estates (www.hamiltoninternationalestates.com)
GET IN TOUCH
Contact Our Team
Call:
+44(0)1628 397840
Email:
info (@) hamiltoninternationalestates.com
Visit Our Office
Address:
Chiltern House Business Center
64 High Street, Burnham
Bucks - SL1 7JT
United Kingdom
View On Map >>
Sign up for exclusive access to our property developments
Why Hamilton International Estates
We strive to deliver a personal service for all of our clients
Why us
Our standard is also a measure of the perfection that we strive to achieve in everything we do. Our professional property consultants have cumulatively acquired over 25 years of experience in providing the perfect property development opportunities for all our clients..
What we offer
Hamilton International Estates specialises in property development opportunities. We have a wide range of property developments, ranging from; residential and commercial property. The Hamilton International Estates Standard is the benchmark of our excellence by which we judge ourselves.
Our Role
We build genuine partnerships with our customers and use our intellect to help our clients reach their goals. Our role is to connect buyers and sellers across the world and we offer our clients a number of different assets that they can purchase, retain and profit from.
Our Clients
Our client base is formed of people across the globe who wish to diversify their portfolios as well as purchase and profit from a variety of different assets. Our experience aids us to tailor our services to meet the needs of all our clients.
Disclaimer - Hamilton International Estates is acting as an agent in marketing products and services for many other companies. Hamilton International Estates is not authorised to give investment/tax advice and you should seek independent financial and legal advice prior to making any investment decision. All forecasts are based on historical performance and are purely indicative. The value of your property may rise or fall. No guarantees as to future performance in respect of income or capital growth are given either expressly or by implication and nothing expressed or implied should be taken as a forecast of future performance. This is not an offer to participate in a collective investment scheme as defined in the Financial Services and Markets Act 2000 (section 235) and as such buyers have no access to statutory or regulatory protections including the Financial Ombudsman Service and the Financial Services Compensation Scheme. Hamilton International Estates is not regulated by the FCA and is not authorised to offer advice to the general public concerning any regulated or unregulated investment. Although every care has been taken to make sure that the information in this brochure / website is accurate, Hamilton International Estates cannot accept any responsibility for mistakes or omissions. You should take your own professional advice before taking or refraining from any action based on the contents of this brochure / website which are only intended as a general outline to the matters referred to in it. All content, product description and illustrations in this factsheet, brochures and website are purely marketing material provided by the companies that we work as agents for. Hamilton International Estates registered address Chiltern House Business Center, 64 High Street, Burnham, Bucks, SL1 7JT, United Kingdom, Company Registration Number 10767032 is a sales and marketing agent.