The Market
Opinion: Is luxury real estate a recession-proof asset?
"Real estate is more recession-proof than other assets, especially when it comes to luxury homes," argues Mickey Alam Khan, the New York-based president of Luxury Portfolio International.
The number of homes listed for sale has fallen 12.5% in the last year
Estate agencies have listed an average of 7.3 homes per branch across Britain in 2022 so far, down from an average of 8.4 in 2021, according to some new research.
More home-buyers are turning to short-term lending to beat competition
Bridging lending activity has risen sharply, as investors and home-buyers turn to short-term lending solutions to secure a property in a competitive market.
Sharp drop in confidence amongst London property sellers
"The change in economic headwinds is starting to be reflected in seller confidence," says OnTheMarket.
Monday Market Review: Key figures and findings from the last seven days (w/c 08.08.22)
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…
Another top agency cuts Prime Central London property price forecasts
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.
Weak sterling opens a ‘window of opportunity in London for Middle East investors’
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.
Traditional Summer dip sees asking prices fall for first time this year – Rightmove
"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.
PCL tenants lock-in for longer as rents continue to soar
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.
Heatmapped: Housing market continues to confound, as prices rise again
Annual price growth increased to 10.2% in England & Wales last month, reports Acadata.
Knight Frank downgrades international prime property price forecasts
"A lot has changed in global property markets since we issued our last global prime residential forecast in December 2021," says Knight Frank.
House prices continue to climb despite falling buyer demand – RICS
"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.