Market Snapshot: Prime London’s post-lockdown recovery
Property market activity in PCL is rebounding more slowly than in outer areas, reports Knight Frank, and average rents continue to fall.
London leads national drop in rental price inflation
Rental price growth in London has tumbled as Covid-19 drives supply up and demand down, reports Zoopla. The portal expects rental growth outside the capital to halve to +1% by the end of this year.
Strutt & Parker stands by 2020 property price forecasts, despite plunging transaction numbers
Average UK house prices are likely to drop by anything from 1% to 7% this year, predicts Strutt & Parker – although the short-term impact “could be much gloomier” in some parts of Prime Central London.
Foxtons reveals the ‘decision triangle’ and new-build pricing process
50-branch agency provides some interesting insights on buyer and tenant behaviour in the capital, and how it goes about pricing new-build schemes…
Rents have risen across most of the country, but have fallen sharply in London
A rise in the number of properties available to rent combined with a drop in international demand have driven a 7.4% year-on-year decline in average rents in Inner London, says Hamptons.
Asking rents reach a record high across the country, but dip in London as supply balloons
Asking rents outside London have climbed by 3.4% in the last year, while the capital has seen a dip of 0.6% as rental stock piles up.
PCL lettings market on the turn as supply levels ease
Average values have now fallen by -4.6% on an annual basis, reports Knight Frank, but demand is building just as supply levels start to slow…
Post-lockdown property market bounce ‘may quickly run out of steam’, warns the RICS
Sales activity has “rallied noticeably” since May, report surveyors. But, before the Stamp Duty holiday was intrigued yesterday, the RICS noted “there are worrying signs that this rebound may quickly run out of steam.”
Super-tenants paying hefty price for versatility, says HNW mortgage broker
Difference between renting and owning the same £10m property could run into thousands a month, says Enness Global
Rents tumble in London as landlords fear Covid-19 ‘second wave’
Landlords have been cutting asking prices to avoid being left with an empty property on their hands if lockdown restrictions are tightened again, reports Chestertons
Savills revises rental growth forecasts down
Rental yields are likely to be lower in 2024 relative to today, predicts Savills.
Landlords’ average capital gain sinks again
Landlords who sold a property in 2019 typically owned it for 9.1 years and sold it for £78,100 more than they paid for it. That’s 3% less than the average uplift for those selling in 2018 – but still equates to a gross gain of 42% on their initial investment.