The Market
Monday Market Review: Key figures & findings from the last seven days
Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from Rightmove, Foxtons, LonRes, UBS, Knight Frank, Acadata & more...
Prime London rental stock is still in short supply
Even after a 25% increase last month, available stock levels remain around 57% below the typical pre-pandemic level for this time of year, reports LonRes.
August sees ‘much larger than usual price drop’ – Rightmove
Average UK asking prices are now 2% lower than at their peak in May - but remain nearly a fifth higher than in August 2019.
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.