Sales
Fewer vendors budging on price, reports London agency
With demand levels running high, sellers ‘don’t feel the need’ to offer a discount right now, according to Chestertons.
Tenants in ‘sprint for stock’ as London lettings market suddenly shifts
A tenant’s market has become a landlord’s market in the last six weeks, reports Knight Frank, as offices re-open and air traffic rises.
Residential property is attracting ‘more sophisticated investors’, says buying agency
"Activity in the residential investment sector is once again picking up", says buying agency Garrington, although the firm reports "a different profile" of buyer in the sector.
London’s royal borough price premium shrinks
The capital's three Royal Boroughs - Kensington & Chelsea, Kingston and Greenwich - have underperformed Greater London's average property price growth over the last five years.
Buyer Beware: On the exorbitant cost of building works
Brexit and Covid have utterly changed the landscape in terms of what it costs to renovate a property - but the marketplace remains massively underprepared and ill-informed, warns buying agent Guy Meacock……
Buyers are facing the most competitive property market on record – Rightmove
Asking prices have reached an all-time high, says Rightmove, as competition among potential buyers to secure their next home is now more than double what it was this time in 2019.
August record for above-asking deals
37% of sales agreed in August were for more than the original asking price, reports Propertymark, as demand continues to rise and supply to fall.
UK property price inflation slows to +8%
July say the biggest monthly drop in average house prices since 1992, according to the latest official house price data.
Super-prime buyers trade Knightsbridge & Mayfair for the mansions of St John’s Wood
The market for houses in NW8 has forged ahead over the last 18 months, outperforming every other area of Prime Central London.
Ranked: The UK’s ‘cash buyer hotspots’
Cash buyers have accounted for 27% of sales recorded in the UK this year, according to new research, but the proportion in some areas has reached over half.
Property sales supply is building, but ‘it doesn’t feel like a significant escalation is on the cards’
Home-buying activity should remain "brisk" through to the end of the year, predicts estate agency Knight Frank, but it won't be as "frenetic" as the first six months.
‘London’s overall influence on the prime market has dropped’, says Rightmove, as Scotland becomes Britain’s fastest-moving £1m+ property market
London now accounts for 40.5% of all seven-figure transactions in the UK, down from 47% before the pandemic.