The Market
Economists predict ‘a slow recovery in activity, but a relatively benign outcome for house prices’
House prices are likely to fall by 7% as a result of Covid-19, predicts Oxford Economics - but the risks are "heavily skewed" towards much, much bigger price falls of almost 40%...
‘Signs of life’ in Prime London as activity returns & prices hold up
The number of properties going under offer in June was just 5% below last year’s levels, reports LonRes, while achieved prices were only marginally down...
Rishi Sunak’s stamp duty cut is not about helping first-time buyers, but shoring up the whole UK economy
"Property prices are critical to UK prosperity," writes Professor Alexander Tziamalis.
Northacre confident in PCL’s appeal as enquiries soar
The 33-year-old firm developing two of London’s landmark prime resi schemes saw a threefold increase in sales enquiries in H1 2020, and is expecting demand to rise as supply levels shrink
Holyrood raises Scotland’s LBTT threshold to £250k
New Scottish property tax rates come into play on Wednesday (15th July), running until 31st March 2021.
Stamp Duty holiday drives instant property portal activity surge
Record levels of traffic and enquiries were recorded on the major property portals following the Chancellor's SDLT tax cut announcement.
PCL lettings market on the turn as supply levels ease
Average values have now fallen by -4.6% on an annual basis, reports Knight Frank, but demand is building just as supply levels start to slow...
PCL’s ‘overdue’ return to growth has been delayed to 2021, predicts Savills
Revised five-year forecasts suggest more muted price inflation in Prime Central London, following the Covid-19 crisis.
City Hall demands £3.5bn for ‘buyer of last resort’ scheme
Proposal would allow councils and housing associations to buy unsold private homes at cost price and turn them into social housing if a buyer cannot be found in the open market.
Post-lockdown property market bounce ‘may quickly run out of steam’, warns the RICS
Sales activity has "rallied noticeably" since May, report surveyors.
Super-tenants paying hefty price for versatility, says HNW mortgage broker
Difference between renting and owning the same £10m property could run into thousands a month, says Enness Global
Industry Reactions: Property sector welcomes Sunak’s Stamp Duty holiday
It'll come as no surprise that most estate agents and property developers are quite delighted with the temporary raising of the Stamp Duty threshold to £500k, as announced by the Chancellor in a "mini…