The Market
‘Biggest sales pipeline in a decade’ as deals agreed on over 700,000 homes
Some 704,000 homes are marked Sold Subject to Contract and are now going through the sales process, according to Rightmove; it's the biggest sales pipeline of the last decade, 78% higher than in May 2019.
‘Wait till the froth dies down’: Buying agent advises buyers to hold off if they can
Either "put your running shoes by the door" so you can jump on viewings instantly, says Clare Coode of Stacks Property Search in Cornwall, or "wait till the froth dies down".
PCL property prices rise as the market ‘picks up where it left off’ at the end of 2019
Prime Central London has seen annual property price growth for the first time since before the EU Referendum, reports Knight Frank.
‘More balance is returning’ to prime London’s rental market
Rising tenant demand is helping to reverse pandemic-induced rental value declines in Prime London, reports Knight Frank.
Middle Eastern buyers returning to UK market
Buyers from the region accounted for 16% of all UK sales to overseas purchasers in the first three months of the year, compared to less than 10% in the previous two quarters.
Treasury Committee rules out permanent Stamp Duty cut
"Any permanent cut or removal of SDLT would be likely to have a significant cost to the Exchequer," concludes HM Treasury.
Mortgage borrowing falls from a record high, but approvals rise
The Bank of England reports that net mortgage borrowing fell from a record £11.5 billion in March to £3.3 billion in April.
Cautious buyers risk being caught out by PCL recovery, warns Mayfair agency
Black Brick highlights dilemma facing those hoping for the ‘quality gap’ to converge.
Prime property stock shortage looms across Europe
“The strong sales rates we’ve seen in the last 12 months have been driven almost entirely by domestic buyers," says Knight Frank;
Are we seeing the return of a more balanced market?
Demand has sprung back since the pandemic as people have reassessed how and where they live, but supply is now also getting stronger, writes Tom Bill...
Ranked: Britain’s most expensive seaside towns
Salcombe tops this year's list, with an average property price of over £950k. The average house price in a British seaside town has jumped by 10% over the past 12 months...
Residents rate build-to-rent more highly than build-to-sell developments
The average "star rating" for a building on reviews platform HomeViews in 2020 were 4.39 out of 5 for Build-to-Rent residents and 4.