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.
Most read
Bentry lines up super-prime play in Hampstead after pre-Budget swoop
Investor-developer sees off strong competition to secure landmark Edwardian mansion for £16.4mn; plans to deliver around 50 top-end apartments as part of grand 'Sandringham-style' residence.
Project London doubles revenue & kicks off international expansion
High-end design studio founded by two former buying agents reports 'landmark' year & gears up to launch Dubai base.
Expanding brokerage signs super-prime Surrey specialist from Savills
Ben Hehir will be based between the firm's Cobham office & Mayfair HQ.
Knight Frank names new Senior Partner & Group Chair
Rory Penn is to succeed William Beardmore-Gray at the helm of the global property consultancy in April 2027.
Relaunched luxury scheme leads resi revival in St James’s Park
Sales team reports renewed buyer interest at The Broadway as raft of redevelopments signal SW1 'renaissance'.
My Property Career: Quickfire Q&A with Chelsea Whelan
Recruitment guru Barry Collins chats with prime resi industry leaders & entrepreneurs, distilling decades of experience & career highlights into 60 seconds.
London house prices to flatline until 2028 as prime markets ‘remain subdued’
Leading estate agency forecasts a property market 'power shift' as the capital's recovery is 'delayed' & regions significantly outperform.
Prime Central London price declines to ‘bottom out’ early next year – JLL
UK house prices set for +20% growth in the next five years, predicts leading property consultancy.
High-value sales jump as Budget clarity brings ‘short-term relief’ in Prime London
£5mn-plus exchange volumes were 21% above the five-year norm last month, although PCL prices recorded their steepest annual fall since 2021.
Rare Bayswater development opp sells for £21mn
Former office building came with consent for a 17-unit apartment scheme designed by Ross Alexander Lambie Architects.
LATEST ARTICLES
Central European developer debuts in London with double Ballymore JV
Penta Real Estate has taken a 50% stake in two prominent resi schemes in the UK capital.
Berkeley reports half-year profit drop but ‘the long-term outlook is more positive’
House-builder's pre-tax profits down -7.7% as sales activity slowed against Budget uncertainty.
Post-Budget snap poll reveals upbeat sentiment amongst home-movers
2% of property portal users said they have cancelled moving plans because of the new High Value Council Tax Surcharge, but OnTheMarket's survey generally points to a busy start to 2026 for the housing…
Expert Panel: Prime Central London has hit a ‘critical inflection point’
Property & HNW industry leaders unpack the volatility, policy churn & changing buyer geography defining a new era for ultra-prime London.
Hefty Marylebone mansion flat heads to auction
First floor lateral on Portland Place is the priciest lot being offered at Allsop's final resi sale of the year.