The Market

"The change in economic headwinds is starting to be reflected in seller confidence," says OnTheMarket.

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from Knight Frank, Rightmove, RICS, Savills, LonRes, Acadata & more…

Strutt & Parker now expects PCL property prices to end this year 2-5% higher than they started it, having predicted 5-10% growth through 2022 just a few months ago.

JLL estimates that sterling buyers are currently paying 35% more for London properties than they were in 2014, while those purchasing in US dollars are paying 3.8% less.

"Prices usually drop in August, and this 1.3% drop is on a par with the average August drop over the past ten years," explains the Rightmove team.

The average length of tenancies in Prime Central London reached a new high of 25.8 months in Q2 2022, reports LCP, while the time taken to let a vacant property is at an eight-year low.

Annual price growth increased to 10.2% in England & Wales last month, reports Acadata.

"A lot has changed in global property markets since we issued our last global prime residential forecast in December 2021," says Knight Frank.

"It is little surprise that housing market activity is now losing some momentum," says the RICS - but most surveyors "still anticipate prices will be modestly higher than current levels in a year’s time.

After two years of punchy growth, house prices in 25 regional market towns have fallen by an average of 2% in the last 12 months.

A planning order covering parts of Notting Hill, Chelsea & and South Ken has been given the green light by Levelling Up Secretary Greg Clark.

The average international premium for a waterfront property compared with a non-waterfront home has climbed to 40%, according to Knight Frank.