The Market
‘Little reason to believe’ property supply & demand imbalance will be resolved anytime soon – RICS
Average house prices increased again in September, but the latest RICS data suggest that the pace of growth is decelerating.
Lettings market rally ‘signals return of London as a global destination of choice for employment and education’
Investment firm LCP reports a surge in enquiries from overseas following the easing of travel restrictions.
Prime London Market Snapshot: Rents roar while sales ‘return to normal conditions one step at a time’
"There has never been a busier lettings market at any time over the last 20 years," says Knight Frank's head of prime lettings, David Mumby.
Heatmapped: ‘A new normal for house price growth’
The market across England & Wales is finally rebalancing, reports Acadata, but there is little evidence of prices stagnating or falling…
‘Vendors who don’t act on their agent’s instruction and reduce their prices now are going to come unstuck’, warns Cluttons boss
The majority of Central London properties are currently about 4% adrift of where the market is, says James Hyman…
Rightmove records highest ever rental price inflation as ‘boomerang tenants’ return to city centres
"Cities have not only bounced back but are now seeing strong rental growth," says Rightmove, with some urban centres seeing double-digit price inflation as tenant demand jumps.
The average Stamp Duty bill has escalated 490% in the last 25 years
Property price inflation has driven the average SDLT bill in England up from £601 in 1997 to £3,548 in 2021.
London super-prime property sales are running 75% above the pre-pandemic level
London’s top-end housing market is continuing its strong run, says Savills, with more £5m+ sales going through so far this year than in any full year since 2015.
On the vicious cycle of low supply
There is currently a massive imbalance in the UK market with 13 buyers for every property listed, according to Knight Frank.
Returning UAE buyers splash out on London’s luxury homes
Some Middle Eastern clients are arriving with tens of millions to spend, reports Knight Frank.
Stamp Duty holiday ‘fails to ignite a buy-to-let spending spree’
“The overall impact of the stamp duty holiday on investor activity has been relatively muted," says Hamptons' research chief Aneisha Beveridge.
‘Completions are coming through more easily & promptly, while transaction fall through rates have fallen significantly’ – Jackson-Stops
"Negative sentiment towards buying or selling a house is nowhere near as widespread as might be expected," says national estate agency Jackson-Stops, after tracking online and social media comments about…