Sales

“Having taken stock during the first three months of the year people are now coming to market and being decisive," says Russell Grieve, office head at Knight Frank Haslemere.

London living is certainly back in fashion, writes David Johnson, but the acute supply and demand imbalance is making for challenging buying conditions…

A longstanding feature of high-end listings, ‘price on application’, is on the way out after Trading Standards deemed the term both ‘misleading’ and ‘unlawful’.

The total value of UK homes sold in 2021 was 37% higher than in 2020.

"Underlying fundamentals suggest house prices are reasonably priced at current levels," says Neal Hudson, but "the fundamentals may be about to change – potentially quite quickly."

Competition for family homes in Edinburgh is "fierce", says Knight Frank, while flats have "found renewed popularity after a pandemic-inspired hiatus.

While house prices have risen by 6.1% over the last two years, the price of flats has fallen by -0.9%

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"The property markets in central and outer London are increasingly on different trajectories," says Knight Frank, as the latest market indices shine a light on sales and lettings trends.

Auctions have seen a surge in popularity over the last few years, with an increasing number of prime properties going under the hammer.

The latest Bank of England data show a slight drop in mortgage approvals.

Surging house price inflation has pushed 4.3 million homes into a higher stamp duty bracket since the start of the pandemic, estimates Zoopla.