Sales

Foxtons trumpets a 'renewed sense of vigour' in the property market at the start of 2024

The number of property millionaires has fallen back from a pandemic peak, says Savills - but the number of homes worth at least £1mn remains 28% higher than in 2019.

55% of UK sellers remain confident they will sell within the next three months.

Improving affordability is a factor, but most buyers & sellers 'just want to get on with life', reports Savills.

Homeowners who sold-up in 2023 did so for an average of £103k (48%) more than they initially paid for their home, says Hamptons, down from a record high of £113k in 2022.

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from LonRes, Savills, the ONS, Hamptons, the RICS, Foxtons, Cluttons & more...

'The house price crash that so many experts said was an inevitability appears to have been averted,' says Benham and Reeves' boss, adding that 'we fully expect the market to go from strength to strength…

'The long-term trend is one of stability,' says LonRes, as property agents report buyers are back out shopping...

Property firm issues an upbeat set of property price forecasts, anticipating 3.5% growth in London and 5% growth across the UK by the end of 2025.

'Downward pressure on prices is diminishing,' says the RICS, as surveyors suggest property values will 'remain largely flat' through 2024.

'It’s fair to say that as planned, we are ahead of the curve,' says estate agency boss Guy Gittins as the market turns upwards.

Some £5.7bn-worth of luxury homes changed hands in London through 2023, reports Savills, despite a marked slowdown from the pandemic-era property boom.