The Market
Bank of England bumps interest rates up 0.5% to 1.75%; warns of a recession by the end of the year
Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
‘The winds of change are blowing through global property markets’ as price growth slows
Knight Frank's latest international index tells of cooling housing markets around the world, including at the top end.
Prime London sales market in ‘best shape since 2014’
New analysis finds the prime postcodes in rebalancing mode, with some encouraging signs, but the market is expected to soften as we head deeper into H2.
£1mn+ home sales have jumped 93% in the last decade
Eight out of ten local authority areas in England and Wales have seen at least one £1mn+ property sale so far this year, up from only half in 2012.
Housing delivery is ‘massively out of kilter’ with homes required
Some areas are seeing many more new homes built than are needed, while other locations are falling far below their housing need.
Knight Frank’s head of resi on the markets to watch in H2
After a frantic first half, Tim Hyatt reviews the state of play in the prime sales, lettings and new homes markets - and looks at how the next six months could unfold…
Mayfair, Marylebone & Fitzrovia under threat from developer ‘free-for-all’, warns council
Westminster says planning deregulation will have a ‘devastating effect’ on the West End.
Property market ‘is not slowing as fast as some might expect’ – Zoopla
Property portal predicts house price growth will slow to 5% by the end of this year, but buyer demand remains high in the face of rising interest rates and costs of living.
The Register of Overseas Entities is now in play; here’s what property pros need to know
Designed to "root out corrupt elites using UK property to launder their illicit wealth," the Register of Overseas Entities has officially launched, requiring more transparency for UK property transactions…
Monday Market Review: Key figures and findings from the last seven days (w/c 25.07.22)
Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from LCP, Homesearch, Savills, Chestertons, Foxtons, Propertymark & more…
‘London exodus continues’ as a record proportion of first-time buyers leave the capital in search of a home
"One of the biggest Covid-related housing market trends - moving out of London for the country - could be here to stay," suggests Hamptons.
Mortgage approvals drop as higher interest rates start to bite
The number of home-buyer mortgage approvals has fallen below the pre-pandemic average, according to the Bank of England. “Higher interest rates are starting to bite," says Savills.