The Market

Analysis of Zoopla data by money.co.uk shows that April and May are the best months to market a property for sale.

More than 95% of new mortgages agreements are on fixed-rate terms.

'With home prices at or near peak levels in many luxury markets, high-end buyers around the globe are discovering markets where they wield more buying power,' reports Christie's International Real Estate.

"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…

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"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.