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: April’s House Price Index; tenant demand is rising; and more on the potential Stockport Metrolink line…
Tenant demand is up for seven out of 10 UK landlords
“Property investors are often keen to hone in on locations with particularly high tenant demand, and the latest data shows strong tenant appetite is widespread in the UK.
It has been widely reported over the past couple of years that tenant demand in the private rented sector is surpassing the supply of homes available across many parts of the country”…
– Eleanor Harvey, BuyAssociation
Read the full article
House Price index: April 2024
“The housing market is more balanced than at any time since before the pandemic. Market conditions have been improving across the North of England, West Midlands, Wales, Scotland and Northern Ireland, leading to a return of annual house price growth in these regions.
According to the Bank of England, there were 32% more mortgage approvals in February 2024 than a year earlier. This is a return to pre-pandemic levels”…
– Richard Donnell, Zoopla
Investing in property: why it is still a good diversifier for the long-term
“With interest rate cuts on the horizon, it is expected long-term investors will shift their gaze towards the property sector once more. While property performance has not been as strong over the past five years through the pandemic, yields and valuations now look attractive relative to other asset classes”…
– Dzmitry Lipski, MoneyWeek
Ancoats former Central Retail Park to become Manchester Digital Campus
“The UK government buys five acres at former Central Retail Park. The land deal prepares the way for the Government Property Agency to build its 800,000 sq ft Manchester Digital Campus, with construction set to begin in 2026.
Manchester City Council Leader Cllr Bev Craig described the GPA deal as representing a “significant investment that will complement the wider regeneration story” of the city centre”…
– Julia Hatmaker, Place North West
Where might Stockport’s Metrolink line go?
“The mayor said he ‘would like to see them built in the decade’ and also said ‘the new Stockport Interchange has been built with tram capability’. His comments follow a suggestion in 2019 that tram-trains could serve Wigan, Bolton, and Stockport
Furthermore, Transport for Greater Manchester’s (TfGM’s) own 2021-26 delivery plan says it will ‘develop options’ for a ‘metro/tram-train East Didsbury to Stockport/Hazel Grove’. TfGM has also committed to a Stockport to Manchester Airport tram option, a Cornbrook to Airport via Timperley tram option, and an Airport Western leg extension on the same document”…
– Ethan Davies, Manchester Evening News
Hull city centre offices to receive £2 million revamp
“A £2 million project to refurbish surplus office space at the city centre building occupied by law firmGosschalks has received vital funding.
Garry Taylor, assistant director for major projects, culture and place at the council, said: “City centre office space is much sought after in Hull and this project will help to provide extra provision”…
– Place Yorkshire
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 – 20/5/2024
