The Market

"There is no real prospect of significantly improved rental supply in the near term," says the Zoopla team, "as private landlords continue to sell off homes due to tax and regulatory changes and renters…

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from UK Finance, Knight Frank, Glentree Estates, the RICS & more…

"An amazing family home with five, six bedrooms and a garden, and parking, in zone 1, for £10mn? It’s not going to happen," says buying agent Camilla Dell.

"In light of the period of national mourning now being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of one week."

A house price correction of between 10% and 20% looks increasingly likely, writes Colin Jones, Professor of Real Estate at Heriot-Watt University.

The latest departures mark a wholesale change of ministerial leadership at the Department for Levelling Up, Housing & Local Communities.

A busy summer of high-end dealmaking points to a strong sales season through to November at least.

Surveyors have reported the steepest decline in home-buyer enquiries since the early days of the pandemic.

"Global housing markets have wrongfooted us this quarter," says the Knight Frank research team, as property markets continued to post strong growth.

"It is too early to predict when escalating cost-of-living pressures will begin to bear down on effective demand," says UK Finance.

Unless the economic scene changes dramatically, a cataclysmic collapse in property values is unlikely, says the Glentree boss.

We need "action on a scale similar to the initial Covid response," says First Minister Nicola Sturgeon.