The Market
Global wealth has fallen – but is set to rise by 38% over the next five years
World wealth and millionaire numbers declined last year, but economists expect growth to return soon.
Deals drying up in Prime London as sales market goes into holiday mode
Last month's activity was on the low side, even by July standards, and there are signs the £5mn-plus market is finally beginning to buckle.
Propertymark: ‘Tax incentives can power up energy efficiency standards’
"A simple tax restructure" could help more private rental homes meet EPC targets, suggest property industry insiders.
‘Business as usual’, reports OnTheMarket, as buyers & sellers show ‘remarkable resilience’
Over three-quarters of active buyers are confident of moving forward in the next three months, according to the portal's latest survey.
House price growth slowed further in June ‘but the fall was gentler than we have seen in previous months’ – UK HPI
The average UK house price was £287,546 in June 2023, which is £5,000 higher than 12 months ago, but £5,000 below the recent peak in November 2022.
Ranked: Britain’s strongest buyers’ Vs sellers’ markets
Bristol dominates a list of areas where homes are selling fast, says Rightmove, while London enclaves (including Knightsbridge) are the top sellers' markets.
PCL’s ‘best-in-class’ homes are still going to sealed bids
Negative sentiment has led to fewer sellers and a lack of supply across most of Prime Central London - and particularly between £5mn and £10mn, reports buying agency.
Knight Frank heralds ‘relative resilience’ as it cuts global prime resi forecasts
After a challenging run of economic strife and escalating interest rates, Knight Frank's research team has revisited property market predictions for 26 prime global cities in 2023 and 2024.
Annual house price growth at lowest rate in 11 years
Transactions have also slid, and were at their lowest level since the GFC in H1, reports Acadata.
London rental supply improves, but ‘competition is still fierce’
Foxtons reports a 6% improvement in lettings stock in the capital.
All that glitters is not gold: James Holroyd on navigating London’s new-build property market
"'Buy in haste, repent at leisure' applies throughout the property market – but especially to new builds."
Tom Bill: This week’s inflation data holds clues for UK housing
Anyone buying, selling or re-mortgaging should watch the numbers closely on Wednesday, says Knight Frank's head of UK residential research.