The number of UK property firms in ‘significant financial distress’ has risen by 78% since 2016
Sector has been ‘particularly badly affected’ by deteriorating economic conditions, says insolvency firm Begbies Traynor
Asking rents jump to record highs in London & around the country
Nearly a quarter of landlords are planning to cut their property portfolios in spite of record asking rents, says Rightmove
Prime London property transactions jump 14%; instructions up 9% – but prices fall
New LonRes data for Q3 tells of a markedly busier Summer compared to last year in prime London – although the market above £5m remains subdued
Average time to sell jumps as the property market freeze continues
Two separate analyses tell us that homes are taking longer to find a buyer now compared to a year ago
UK property price growth picks up; Inner London shows signs of recovery – UK HPI
The annual rate of UK house price growth has climbed to +1.3%, according to official data. Property price inflation in Inner London, meanwhile, is now at its highest (least negative) level since December 2018
New-build homes now account for over a third of London’s super-prime property sales
Resilient demand in the face of uncertainty has boosted new developments’ £10m+ market share from 18% to 34% in the last two years, reports Knight Frank, as the super-rich prioritise security and hotel-grade luxury amenities
‘Slow & steady’ property market persists as exchanges nudge up but new instructions dip
First-time buyers have boosted transaction volumes, reports TwentyCI
Javid confirms Budget date
‘Housing market put on hold’ as Chancellor schedules in ‘the first budget after leaving the EU’ for 6th November
Pitch Perfect: Advising vendors on pricing to sell
Savvy sellers are beginning to understand the risks of overcooking an asking price in the current market, says PCL agent Nic Pejacsevich
The Tenant Fees Act: Does it have any teeth?
Barrister Katrina Mather of Hardwicke Chambers explores the realities of the Tenant Fees ban, a “slightly peculiar piece of legislation” that came into force on 1st June
‘Accidental landlord’ numbers fall for the first time in five years
Next year’s tax changes are pushing some landlords to sell up before April, says Hamptons International
Buyers & sellers hold back as uncertainty continues to frustrate the property market
“There are good reasons for thinking the latest dip in both buyer enquiries and vendor instructions is a response to the endless wrangling about Brexit,” says the RICS Chief Economist