PCL is a buying opportunity at the moment – Black Brick
Window could last for another six to twelve months, says Mayfair agency.
Why the end of the stamp duty holiday is a good thing for the UK property market
Introducing a stamp duty holiday at the height of the pandemic was commendable but it has over-stayed its welcome, writes Tom Bill…
House prices: Why the risks of a fall are higher than most people think
“The fact that house prices have been rising quickly over the last year makes the market more vulnerable to external shocks to the economy,” says Professor Geoff Meen, as he warns “there are numerous conventional reasons to at least expect some slowdown in the growth of house prices.”
1.3 million buyers have benefitted from the the Stamp Duty holiday
“We haven’t yet seen any significant increase in properties falling through so it looks like most are going ahead regardless,” says Tim Bannister, Rightmove’s Director of Property Data. Although he suggests that “inevitably there will be some properties coming back onto the market later this week and next week if a buyer and seller are unable to agree new terms if the buyer misses out on the maximum stamp duty savings.”
Buyer demand eases but remains 55% above ‘normal’ levels
“The stamp duty holiday boosted demand in the housing market, yet buyer demand remains elevated despite the initial holiday ending,” says Grainne Gilmore, Head of Research at Zoopla “- signalling that the once-in-a-generation ‘reassessment of home’ has further to run this year.”
Which parts of the UK property market are likely to be most active over the summer?
Seasonality is set to return in the coming months, as the Stamp Duty holiday steps down, says Knight Frank. But which parts of the UK property market are likely to be most active over the summer?
‘Race for space’ still fuelling prime regional markets, but mind the widening expectation gap
‘Whichever way you look at it, the past year has been about buyers with the means to do so looking for more space both inside and out, and their willingness to pay a high price for that space,’ says Savills’ Lucian Cook, …‘but the realignment of buyer and seller expectations will be vital in order to maintain market momentum’
UK resi market set for first ‘£100 billion summer’
Factors have combined to set up the ‘highest grossing quarter in UK residential market history’, says JLL.
Record number of homes selling at or above asking price
Buyers in England and Wales paid an average of 98.1% of the final asking price in January this year, reports Rightmove, marking the first time the percentage has ever exceeded 98%.
20 buyers for every property: Another record month for property demand & sales over asking price
There are now 20 buyers chasing every property on the market, according to Propertymark.
Hong Kong buyers & tenants hone in on London
New visa regulations and the imminent easing of travel restrictions have ‘revived London’s appeal as an investment and lifestyle hotspot’, says Chestertons
New-build premium put at 29%
Analysis of government figures reveals the areas where average new-build prices are as much as double those of the existing market.