Resi sector leads ‘a significant turnaround in architects’ confidence’
“Within a tumultuous five months we’ve seen the fastest and deepest collapse in architects’ confidence, followed by the strongest rally,” says the RIBA.
Government considers postponing the Autumn Budget as the UK falls into recession
As the UK officially enters a recession for the first time since the Global Financial Crisis, contingency plans are being laid to push back planned tax hikes if a second wave of the Coronavirus hits.
59,000 ‘lost’ deals: Estimating the financial cost of lockdown to the estate agency sector
The UK’s Covid-19 lockdown caused a dramatic slump in the number of new instruction and sales agreed, reports Twenty EA, but property exchanges appear to have been more resilient.
Covid-19’s impact on global property markets ‘will likely be less than in the global financial crisis’
“AÂ full house price crash [is] a distinct possibility,” warns Oxford Economics as it assesses the potential fallout of the Covid-19 pandemic on global markets. But “a much more likely scenario is sideways movement or a modest price correction even in the most overpriced markets.”
OBR revises housing market forecasts in light of Covid-19
Three scenarios for house prices and transactions volumes over the next five years have been presented by the Office for Budget Responsibility – an Upside, a Central, and a Downside.
Economists predict ‘a slow recovery in activity, but a relatively benign outcome for house prices’
House prices are likely to fall by 7% as a result of Covid-19, predicts Oxford Economics – but the risks are “heavily skewed” towards much, much bigger price falls of almost 40%…
Rishi Sunak’s stamp duty cut is not about helping first-time buyers, but shoring up the whole UK economy
“Property prices are critical to UK prosperity,” writes Professor Alexander Tziamalis. “Britain should arguably wean itself off its property addiction, but for now the chancellor has tried to sustain confidence in an asset class that accounts for most of the country’s wealth.”
‘We can see the first green shoots of a recovery’: Mishcon’s James Liffen on the current state of the property market
“We can see the first green shoots of a recovery,” writes James Liffen of Mishcon de Reya as he takes stock of the property sector’s current situation, “but think it may be some time before the prime and super prime markets show the levels of activity that we saw in January and February of this year.”
How the super-rich conquered London
London is an “Alpha City”, declares Professor Rowland Atkinson. In this long read, he explores how PCL has become “a climate controlled place of comfort and support” for the world’s super-rich, and what that means for wider society…
Valuation Viewpoint: A debt deflationary vortex?
The coronavirus has exposed an underlying weakness within the world economy, and it will be several weeks before we find out the impact on the market, writes James Wyatt…
Why a ‘U-shaped’ recovery is more likely than a post-lockdown boom
Charlie Ellingworth and the Property Vision team take a measured look at what the Covid-19 recovery could look like for the UK’s economy and real estate sector.