Sales volumes could soar by 50% this year, predicts Mayfair agency
Wetherell expects competition to heat up as the international market returns.
Savills predicts a ‘burst’ of rental price inflation next year
Savills has updated it forecasts for the UK’s mainstream rental market. “We expect the market to progressively normalise,” says the team, “reversing some of the Covid-specific trends seen in 2020.”
New York dominates the world’s UHNW real estate scene, while London ‘stands out as a second-home destination’
New York is the top global city for the world’s wealthy, according to new analysis by research house Wealth-X, with “a significant lead” over other hubs. Los Angeles is in a distant second place, followed by London, Hong Kong and Paris.
Space race to continue, predicts Knight Frank, as latest lockdown ‘reinforces buyer trends’
Agency’s latest sentiment survey suggests demand will remain strong in regional markets, even when restrictions are eased.
London property market ‘getting a boost’ as overseas students ‘favour the UK’
“The UK’s safe haven status, diverse and liberal culture has attracted overseas students who would have previously studied in the US,” suggests property investment firm London Central Portfolio.
Why the Covid stamp duty holiday reveals big problems in the housing market
HM Treasury “misjudged” the property market when it introduced the Stamp Duty holiday last year, writes Michael Ball, Professor of Urban and Property Economics at the University of Reading’s Henley Business School. “What must have looked superficially to be a wizard policy idea – stimulating the housing market and gaining political bouquets from happy buyers at the same time – has rebounded badly.”
Why Hong Kong citizens will answer London’s siren call
An influx of Hong Kong residents should act to offset the negative impact of Covid on London’s population and dampen the notion that property prices are set to dive, writes Fraser Slater…
Houses outperform flats as Prime London market stays strong
Houses in the £2m to £5m range have been significantly outperforming the rest of the market, reports LonRes…
‘Extremely focused’ buyers see no need for a second viewing
The proportion of UK properties sold after a single viewing rose from 17.8% in 2019 to 28.1% last year, reports Knight Frank.
UK house prices rose by 8.5% in 2020 – the highest rate since 2014
The latest official UK House Price Index tells of significant property price inflation last year, despite Brexit and the pandemic.
The total value of property sales tumbled by 38% last year
£171.7bn-worth of homes were sold across England & Wales in 2020, down from £277.5bn in 2019.