The Market
Long-term annual price growth in Prime Central London stands at 9%
The average property price in prime central London breached £1.5m in 2013, hitting £1,543,102 at the end of November after "robust" but "unremarkable" annual growth of 12.
Big annual rise in tenancies but void periods “creeping in” – W.A.Ellis
PCL agency W.A.Ellis has reported a beefy 50% leap in the number of tenancies it agreed last year (compared to 2012), although rents only increased by 2.8% overall (0.4% less than than in 2012).
Property market confidence hits four-year high
Homeowners are, apparently, even more bullish about house prices than most property "experts", forecasting a 7.
Demanding Times: Ten buyers chasing each property for sale – Countrywide
Demand is outstripping supply by a factor of ten, as an average of 9.7 buyers chased each property for sale in November, according to Countrywide.
That's up from 8.
Developing Market: 10% of Chelsea buyers are developers
International buyers accounted for 56.5% of Chelsea specialist Russell Simpson's sales last year, while nearly three quarters of new tenants were from overseas.
London’s £5m+ market climbs 24%, but under-performs the rest of prime
London's £5m+ market broke all the records for volume and value in 2013, says Savills, but price growth at the top of the top-end was slower than the capital's prime market's average, and per square foot…
Strong finish for D&G as December activity spiked
December kicked right off in Douglas & Gordon's patch, with a 50% increase in the number of properties hitting the market, a 20% jump in new buyer registrations and a 40% hike in the number of offers received.
Savills launches interactive prime property price map
Savills has launched a new interactive property price map of the UK by pointing out that house prices rose, on average, by 7% in 2013.
£1.5bn of Section 106 cash “unspent”
A BBC investigation has claimed that £1.5 billion of Section 106 money remains "unspent" by English councils, with a whopping £421m yet to even be allocated to anything.
NAEA and ARLA to advertise for licensed agents
The National Association of Estate Agents and the Association of Residential Lettings Agents are launching TV advertising campaigns to promote the importance of choosing a licensed sales or lettings agent.
Public gets right to demand sale of government-owned property and land
New "Right to Contest" powers have officially come into force today, allowing the public to contest the use of central government land and property and apply for its release.
Town or Country: Downturn has created two distinct markets
"The London influence on the rest of the UK remains weak," says Jackson-Stops & Staff, which has led to two very distinct markets emerging from the economic woes of the last five years.