The 7am Cut

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: the UK economy grew faster than expected in May; property surveyors expect a rise in home sales after election; and Stockport’s proposed Metrolink map has been revealed…

Big changes for UK housing as new government announces plans

“The UK housing sector goes hand in hand with economic growth, according to new housing minister Pennycook, and attracting more private investment by opening up more housebuilding opportunities is a key part of this strategy”…

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– Eleanor Harvey, BuyAssociation

UK economy grew faster than expected in May

“The economy expanded by 0.4%, rebounding from zero growth in April when wet weather put off shoppers and slowed down building projects.

Construction grew at the fastest rate in almost a year in May, with house building and infrastructure projects boosting the industry, the Office for National Statistics (ONS) said”…

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– Nick Edser, BBC News

UK property surveyors expect rise in home sales after election

“UK home sales are likely to rebound as buyers draw more confidence that interest rates will fall and the uncertainties of last week’s general election pass, the Royal Institution of Chartered Surveyors (RICS) said.

RICS said its measure of residential sales expectations over the next three months accelerated to the highest level since the start of 2022. That led respondents to anticipate that prices will pick up in the near-term for the first time in two years”…

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–  The Business Times 

New map shows blueprint for Metrolink expansion across Greater Manchester

“Metrolink lines to Stockport, Middleton and Heywood are included in new plans outlining options to expand the network. The proposed new tram lines are part of a Greater Manchester Combined Authority (GMCA) blueprint showing how the network could grow in future”…

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– Declan Carey, Manchester Evening News

RICS: UK election result and interest rate cuts will get property markets moving

“The property market may finally get moving now that the general election is out the way, the Royal Institution of Chartered Surveyors (RICS) suggests.

Many property professionals and house price reports have suggested the housing market paused during the general election campaign.

But with Labour gaining power with a landslide majority and hopes of an interest rate cutin the coming months, the property market could be set for a recovery”…

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– Marc Shoffman, MoneyWeek