The YOY change was positive for the first time in 2019.  

Even though sales are still slow, currently 5 of the top 10 cities in the latest report for October are posting net positive prices over the last 12 months.

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Had enough of Brexit and want to know where the UK residential market is going? 

The Houseprice.AI report for August 2019 analyses the UK residential property market using several AI based methods and new benchmarks to forecast future trends. Their proprietary indices allow you to quickly assess what is going on in the top 10 urban residential property markets across the UK.

 Brexit issues are not helping the overall benchmark index as it declined further into negative territory. Exactly half the cities are showing negative prices over the last 12 months. 

To find out more, fill in the form on the right hand side and receive the report by email.

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When it comes to buying property one of the key factors that should influence your decisions, is what buyers and tenants are looking for. Keeping this in mind throughout the process, will help you to choose projects that have the potential to deliver the greatest return and market your property effectively.

Commuter links have long been a key factor when deciding on where to live. Nobody wants to sit in rush hour traffic for hours on end or struggle with public transport because of poor links. From getting to the closest shopping destination with ease to visiting family, transport networks are essential for both buyers and renters. However, its links to work that consumers are most concerned with.

Research from AA Mortgages revealed that a change of job was the biggest reason for Brits deciding to move home, significantly surpassing making a profit from the housing market. For almost a quarter (23%) a new job was the catalyst for searching for a new property to buy, it’s likely that a similar factor drives renters too.

So, what does this mean for property developers and landlords?

Homeowners willing to move for their new job will want the easiest possible commute to work while still living in a desirable area. It’s a factor that should be taken into consideration when looking where to invest your money. Ask yourself what companies are there close by, how far is the property from the train station, whether it’s well connected to a motorway, and other transport questions.

Looking at the opportunities within a local area should be a step you take too. For example, if a big company announces it’ll be relocating its headquarters, it could be larger profits to snap up properties that will appeal to workers taking those new positions that are about to be created or relocating to continue in their current role.

With work a key factor in the moving decision for many homebuyers, it highlights just how important it is to mention the attractive qualities of your project in terms of commuting in your listing. Mentioning excellent train links to a nearby city or a double driveway and easy access to the motorway could be just what you need to encourage potential buyers to view your property for themselves.

The housing shortage in the UK has reached a new high recently, with the population continuing to grow by half a million people each year and the amount of homes being built by developers failing to keep up with the demand.

There is a suggestion though, that this lack in affordable living opportunities isn’t down to slow building or the number of houses, but is instead a result of the mindset of British people who aspire to live in houses instead of apartments. It’s true, in the UK only 14% of people live in apartments. In stark contrast to this, 66% of people in Spain choose to purchase apartments.

Why is this, and what can be done to encourage the people of Britain to choose apartment living over their dream of owning a large house?

The reasons for resistance

When you think of apartments in Spain, France, or any European country besides Britain for that matter, the connotations are always fairly positive. You picture large balconies in sun-soaked cities with plenty of communal areas that encourage children to play together and promote a strong sense of community.

Unfortunately, similar things can’t be said for Britain, where flats are often associated with areas stricken with poverty and crime.

There is also the issue of public safety. The Grenfell Tower tragedy in 2017, which saw 23 residents of the tower block die, has highlighted social injustices and raised concerns about how safe high-rise tower blocks actually are.

For millennials just starting families who may have spent their time at university living in flats with friends, purchasing a house is the next logical step and choosing to stay in a block of flats may not feel like the progress they desire.

The merits of apartment living

• It’s a more sustainable, high-density living solution- something that is important in the UK. The country has the same population as France but less than half its land. Typical housing isn’t a sustainable choice long-term.
• Apartments have much lower maintenance costs, meaning that individuals that choose to live in apartments could pay off their mortgages quicker. This would help to tackle the UK household debt, which is currently one of the highest in the world. 

While in theory, this idea sounds plausible, attractive, and sure to benefit the economy, if it is to work well the right steps need to be taken. The UK must rely on its resources that include capital and technology, to make this living environment seem more attractive to young people and families ready to buy.