Sales

'Whilst the prime property market has healthy levels of activity it nonetheless remains incredibly price sensitive,' says Garrington.

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from JLL, Knight Frank, Halifax, Zoopla, Savills, the Bank of England & more...

Following a bumper 2022, Savills has registered the highest number of buyers looking for £5m-plus homes since its analysis began.

'There remains a huge amount of nervousness among borrowers, who aren't sure which way mortgage rates are likely to move next,' comments Knight Frank Finance on the latest BoE mortgage lending data.

London and New York continue to lead for ultra-prime home sales - above US$25mn - according to Knight Frank's just-published Wealth Report 2023.

2023's purchasers are falling into two categories, says buying firm Eccord.

House prices have soared by an average of over 20% since the onset of Covid-19, reports Halifax, with huge variations driven by a 'fundamental shift in buyer demand'.

Demand is holding up and price declines appear to be bottoming out, reports Knight Frank.

Capital Economics expects house prices to fall by 10-15% - but the impact on the wider economy may not be as severe as in previous property market downturns...

A 'soft reset in house prices continues,' says Zoopla, as sales supply improves and vendors cut price expectations.

'Investing in the housing market was never a short-term play', says DM Hall boss John McHugh, as he provides a sit-rep on a slow start to the year for the Scottish property market.

Overseas buyers accounted for 39% of purchases in Prime Central London last year, down from 55% in 2018.