Lettings

Strong demand continued to drive sales activity in October, according to the latest survey of Chartered Surveyors. But things are likely to turn as 2021 progresses...

Estate agency Strutt & Parker has revised its 2020 forecasts for the UK's property market after a "mini-boom" in transactions in the last few months.

“The split in the rental market caused by Covid-19 has now crystallised and we are seeing the two-speed market firmly entrenched," says Gráinne Gilmore, Zoopla’s Head of Research.

But the majority of October's property exchanges in prime London still originated in deals done before the first national lockdown, says Knight Frank.

There's a lot less panic this time around, says Chestertons

Chestertons has reported a 45% increase in new tenancies in London this September compared to last - but supply is running high, forcing many more landlords to cut rents.

Boutique firm Aston Chase joins other boutique operators reporting a bumper run of deals, after chalking up £175m worth of sales in the last five months alone...

"Anyone worried about the future of city life should take reassurance from the 21% increase in under 30-year olds starting new tenancies compared with the same period prior year," notes the CEO of London…

London rents continue to fall, reports Rightmove.

More affluent areas have seen markedly more lettings market activity since the end of the Spring Coronavirus lockdown than Britain's less wealthy locations.

Values have now fallen by -8.1% in a year in the capital's most expensive postcodes - the biggest fall over a 12-month period in more than a decade - but the agency sees a turnaround on the cards in 2021...

Surveyors across the UK reported a continued rise in demand, supply, prices and agreed sales in September - but the consensus is that things will turn in the next 12 months...