Sales

July say the biggest monthly drop in average house prices since 1992, according to the latest official house price data.

The market for houses in NW8 has forged ahead over the last 18 months, outperforming every other area of Prime Central London.

Cash buyers have accounted for 27% of sales recorded in the UK this year, according to new research, but the proportion in some areas has reached over half.

Home-buying activity should remain "brisk" through to the end of the year, predicts estate agency Knight Frank, but it won't be as "frenetic" as the first six months.

London now accounts for 40.5% of all seven-figure transactions in the UK, down from 47% before the pandemic.

Some of the heat has come out of the UK's regional markets in the wake of June's stamp duty deadline, but prices 'remain resilient in the round', reports Acadata.

The race for space is evolving - but where are buyers choosing now, and what are they getting for their money?

“We would urge the Government to undertake a full-scale review of the current stamp duty land tax system," says the Royal Institute of Chartered Surveyors.

House prices "are expected to continue to climb higher over the year to come," says the RICS, "albeit the pace of increase is likely to subside somewhat in the months ahead."

3,381 £1m-plus resi sales were lodged with the Land Registry in the capital during H1, with 117 breaching the £5m mark.

"We can confidently predict a strong end to the year," says Knight Frank, "just less frenetic than the first six months."

‘The reports that the property market reached its peak at the end of the stamp duty holiday are unfounded’, says Arlington Residential.