The smart money is making a move in London, but will these early shoots bear fruit?
A US tycoon’s recent ultra-prime splurge has helped boost sentiment in the capital, write Richard & Sophie Rogerson, but the key challenges remain for all buyers…
Brexit delay has prompted a ‘significant increase’ in buyer activity, reports agency
Estate agency Winkworth has seen a 27% jump in new buyer registrations and a 24% rise in agreed sales since the latest Brexit delay was declared at the end of March
Property demand has fallen to a six-year low – NAEA
Estate agency branches have fewer properties available to buy compared to last year, and buyer numbers have dropped to their lowest March level since 2013
Unsold new-build units pile up in London
A record 31,500 units under construction across the capital are unsold, reports Molior, which is nearly half of all units currently underway; demand from investors has been quelled by government measures in recent years, and ‘normal people who want somewhere to live are not buying them’
Lies & Statistics: On the lost art of valuing property
Portals have given vendors the ability to do their own research, but gauging the right asking price remains beyond the reach of machines, says Patrick Alvarado
Brexit’s ‘false dawn’ sparks PCL deal surge
Transactions spiked by over 18% last quarter as ‘shrewd’ buyers and investors pushed their purchases through before March 29th, reports LCP
‘We suspect house prices will rise only 1% over the year and would not be at all surprised if they stagnate’ – EY
EY’s Spring ITEM Club predicts muted property price growth ahead, with a ‘limited’ upside even if a Brexit deal is agreed. A no deal exit could see house prices fall by 5% in 2020
Prime London buyers are ‘manoeuvring into position’
The ratio of new buyers to new listings rose to a record high of 9:1 in March, reports Knight Frank, predicting that demand could be released ‘at short notice’ in the event of some political clarity emerging…
Old rectories & manor houses ‘offer the best value for money’; barn conversions are the priciest ‘quintessentially English’ homes per square foot
Big manor houses and old rectories tend to be the most expensive “quintessentially English” homes in a village, but they’re a fair bit cheaper per square foot than cottages or barn conversions, says Jackson-Stops.
Mapped: Prime London price & rental growth
Here’s how the capital’s prime neighbourhoods have performed over the last three months
London’s prime property prices paint pretty picture for buyers – Coutts
Vendors are slashing prices by an average of 13% – and 21% in the £10m+ range – as transaction volumes slow to a six-year low, reports the Queen’s bank…
Chestertons reports rising activity levels and fewer fall-throughs as buyers tire of Brexit deadlock
Major London agency notes a ‘dramatic shift’ in behaviour since the start of the year, with new registrations, viewings and offers all up – and fall-throughs dramatically down…