Sales

Reports of a big deal surge at the top-end of the London property market bely a quiet picture across the capital's prime postcodes.

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'Obviously we are mainly a buying agent but in the last week we have taken five enquiries from former clients who are considering selling'

40% more home purchase mortgages were approved in January this year than in January 2023.

Zoopla's latest analysis tells of 'greater buyer confidence and more realism on pricing by sellers' - leading to more activity in the housing market.

13% fewer sales were recorded across prime London’s postcodes in the first two months of this year than in the same eight-week period last year.

Rate cut expectations have softened since early January, but a seasonal spring bounce is taking shape, explains Knight Frank's resi research boss.

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Buying agency reports 'a healthy volume of off-market property that will be launched in spring, if not sold beforehand'.

'We expect house prices to fall between 2% and 4% this year,' says Britain’s biggest mortgage lender.

It's still quiet out there, but deal numbers have picked up in prime London in the last week.

For the housing market, last week’s wage data was more significant than news of a recession, explains Knight Frank's UK resi research boss.