The Market
What is driving the unprecedented demand for PCL real estate?
As clients compare bricks and mortar around the world, Central London looks better value than almost any other major city, says Ollie Marshall
‘Strongest ever’ start to the year for London’s £5mn+ property market
128 London homes changes hands for more than £5mn in the opening three months of the year; 25% more than in Q1 2021, and 24% more than in Q1 2020.
‘A welcome shift towards more balanced conditions’ as property market returns towards pre-pandemic conditions
"It is encouraging to see far calmer and more consistent conditions prevailing," says Landmark Information boss.
‘Spring is in the air’ as property supply turns up – RICS
"It is encouraging that a little more stock appears to be returning to the market," says the RICS' chief economist.
‘Most competitive rental market ever’ drives record rental price inflation
Average asking rents have risen by over 20% in Central London over the last year, and by 11% outside of the capital.
Most Prime London homes are still being sold for less than their asking price
Prime London vendors are accepting an average of 3.6% less than their asking price, according to research by Benham and Reeves - but discounts are getting less chunky as the market bounces back.
Heatmapped: 2021’s regional growth patterns go into reverse
Areas of the South East - which had some of the lowest rates of growth in England & Wales last year - are seeing a revival as buyers seek out commutable locations for hybrid working
Property boom continues as average UK house price climbs 10.9% in a year – official data
London property prices jumped by 2.2% in February, as the national annual rate of house price inflation climbed to +10.9%.
Gove declares ‘a victory for leaseholders’ as major housebuilders sign building safety pledge
"This is just the beginning," says Housing Secretary Michael Gove. "We will do whatever it takes to hold industry to account, and under our new measures there will be nowhere to hide."
Slow growth predicted for development land values as building costs climb
"Developers will need to absorb new costs, and tighten margins in order to secure sites in what we expect to continue to be a competitive market," says Savills' head of regional development.
Three key themes for prime buyers to consider in the current market
2022 has so far been defined by high demand and low supply - and the return to more balanced conditions doesn’t appear imminent, writes buying agent Plum Fenton
UK house price growth to slow as cost of living bites – Knight Frank
House price inflation is likely to "unwind" back to single figures across the UK, predicts Knight Frank, although Prime Central London is set for higher price growth as global travel resumes.