OBR downgrades housing market forecast: prices set to fall by 10%; transactions by 20%
"Low consumer confidence, the squeeze on real incomes, and the expectation of mortgage rate rises to come are expected to contribute to continued falls in house prices and a reduction in housing market activity," explains the Office for Budget Responsibility.
SDLT, Transactions, House Prices, Housebuilding & Net Additions: The latest OBR forecasts in five graphs
Property-related take-homes from the latest tranche of Budget-related economic data
Property transactions to plummet by 38% this year, predicts Knight Frank, but PCL prices are set to surge in 2021
Over half-a-million property sales will be "lost" due to the Coronavirus lockdown, predicts Knight Frank, but prices are likely to "recover sharply" once restrictions are lifted.
OBR revises housing market forecasts in light of Covid-19
Three scenarios for house prices and transactions volumes over the next five years have been presented by the Office for Budget Responsibility - an Upside, a Central, and a Downside.
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Budget 2025: The luxury property industry’s hopes, fears & expectations
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PCL agency co-founder joins UK Sotheby’s International Realty
George Vernon has taken up a Consultant Senior Lettings Director role at the luxury brokerage.
Buyer sought for £100mn-GDV luxury resi project in Mayfair
Agents are expecting global interest in the ‘oven-ready’ development opp on Upper Grosvenor Street.
London estate agency announces major recruitment drive
Dexters wants to take on 200 new recruits via its Training Academy in 2026.
Knight Frank appoints Head of Short Lets amid expansion drive
The high-profile agency is looking to ramp up its presence in the short-term rental market.
New sales & marketing boss at The OWO Residences
Alex Rusling will be leading sales & marketing activities at the super-prime Raffles-branded scheme in Whitehall.
‘Ambassadorial’ St John’s Wood townhouse sells for £11.5mn
A £3.25mn price cut did the trick for the Grade II listed pile on Hamilton Terrace.
Former CBRE resi chief Collins joins Kingdom
Mark Collins is now a Non-Exec Director at Raihan Jumah & Obaida Al-Ghazawi's property consultancy.
Penthouse ‘jewel’ unveiled at Chelsea Waterfront’s Powerhouse
In Pictures: Fiona Barratt-Campbell designs duplex spread atop century-old SW London landmark.
American investment boom could ‘lift London house prices’ by up to 3%
Top-end mortgage broker reports a spike in transatlantic enquiries following the recent US State Visit.
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House prices lower than 20 years ago across a quarter of Great Britain – Savills
While nominal prices have jumped by an average of 95% over the past two decades, analysis shows inflation-adjusted gains remain below 9%.
Former CBRE resi chief Collins joins Kingdom
Mark Collins is now a Non-Exec Director at Raihan Jumah & Obaida Al-Ghazawi's property consultancy.
Nobu moves on Miami’s luxury resi scene with Foster + Partners-designed tower
The 74-storey 619 Brickell will deliver 300 residences and the US city's second Nobu eatery.
Penthouse ‘jewel’ unveiled at Chelsea Waterfront’s Powerhouse
In Pictures: Fiona Barratt-Campbell designs duplex spread atop century-old SW London landmark.
Agency reports ‘strong buyers’ market’ as developers ‘struggle to sell new homes’
Chestertons has flagged a 'momentary imbalance of supply & demand' in the new-build sector, putting buyers in 'a particularly strong position to negotiate incentives & price reductions.'