OBR upgrades property market forecasts
The Office for Budget Responsibility is rather more bullish on house price inflation and transaction numbers than in November…
In National
Property portal reports record traffic, but vendors continue to wait
Record numbers of people are browsing the internet for a new home – but there’s a dearth of new sales listings…
Lloyds expects house prices to fall this year
Lloyds Banking Group predicts that average property prices will fall by 3.8% by the end of 2021, with a downside risk warning of negative growth until at least 2024.
Future Homes Standard: The impact on build costs, supply chains & land values
Higher build costs to adhere to the government’s stricter energy requirements are already being factored into land bids, writes Lydia Mclaren…
Space race to continue, predicts Knight Frank, as latest lockdown ‘reinforces buyer trends’
Agency’s latest sentiment survey suggests demand will remain strong in regional markets, even when restrictions are eased.
‘Extremely focused’ buyers see no need for a second viewing
The proportion of UK properties sold after a single viewing rose from 17.8% in 2019 to 28.1% last year, reports Knight Frank.
UK house prices rose by 8.5% in 2020 – the highest rate since 2014
The latest official UK House Price Index tells of significant property price inflation last year, despite Brexit and the pandemic.
The total value of property sales tumbled by 38% last year
£171.7bn-worth of homes were sold across England & Wales in 2020, down from £277.5bn in 2019.
Heatmapped: House prices soar in south west hotspots
Bath, Bournemouth, Bristol, Cornwall, Gloucestershire and Wiltshire have all been flying, with annual inflation running at over 15%, while parts of London have slipped into negative territory…
‘All of the key buyer metrics are [now] ahead of early 2020’ – Rightmove
Asking prices, buyer enquiries and agreed sales all picked up last month, but far fewer properties are coming to market compared to last year.
Cash deals dwindle as smaller landlords tempted to invest
Average rents in the South East have climbed by 10% in the last year, reports Hamptons – while rents in Central London have fallen by 16%.
Strutt & Parker revises property price forecasts, swinging PCL to positive growth this year
Strutt & Parker is now predicting that PCL prices will rise by up to 5% this year, having previously anticipated a drop of up to 5%…