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
Knight Frank launches self-employed broker network
The 130-year-old estate agency has identified 36 London patches for affiliate brokers, as it looks to expand its sales coverage.
Strutt & Parker recruits Knight Frank Private Office dealmaker Robinson
Super-prime specialist joins broker team as BNP Paribas-backed agency continues to scale PCL operations.
REDD lands 12,000 sq ft mansion project in Notting Hill
Private client commission will see substantial villa reworked into 'best-in-class' family home.
More details emerge around record Chelsea mansion sale
Low-profile hedge fund boss named by the Financial Times as purchaser of Candy’s '£265mn' Providence House
The Whiteley reaches practical completion; full amenities line-up unveiled
Eight-year overhaul of London’s first department store has delivered 139 homes with 'best-in-class' facilities, a Six Senses hotel - and some new benchmarks for the sales market.
Freehold Marylebone mansion block heads to auction
33-home building is being sold by order of the Howard de Walden Estate, which has owned the land for over 300 years.
Knight Frank: Middle East conflict will impact UK housing market in four stages
The agency's resi research boss Tom Bill breaks down the likely path for policy, rates, sentiment and pricing - starting with what’s already playing out in the prime country market
Middleton Advisors boosts Cotswolds buying team
Former Knight Frank agent Charlotte Hall has joined to advise buyers across the region’s most sought-after addresses.
Grand Registry: Surveying last month’s biggest registered deals
Super-prime sales in Chelsea and Knightsbridge lead latest rundown of officially-recorded transactions.
Prime London sales market still struggling as uncertainty reigns
LonRes reports another poor month in the capital's high-end property market, with deal volumes and prices both down - but rising under offer numbers suggest there's demand out there.
LATEST ARTICLES
Super-prime agency lines up brokerage model expansion
'This is not a shift towards scale, nor an attempt to mirror larger brokerage platforms... it is a natural extension of our boutique approach', says Beauchamp boss Gary Hersham.
Top international architecture practice unveils new look & senior line-up
PLP Architecture has named five new Partners and six new Directors for its offices in London, Singapore and Tokyo.
Clouds of Uncertainty: Frances McDonald on why the UK’s prime property market recovery is ‘taking a breather’
Savills' Research Director explores how top-end home buyers & sellers are reacting to recent global events, as a 'promising start' to the year is tempered by 'renewed caution.'
Monaco flagged as next frontier for branded residences
Sector specialist explains why the Principality is a key gap in a fast-growing global market, as latest data underlines depth of demand.
Resi sales launch at branded private island development in Belize
This is Six Senses' first over-water resort in the Americas, with prices from US$3.75mn.