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.
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.
Aldar Properties says its first acquisition outside of the MENA region provides 'a meaningful foothold in the diverse and dynamic London property market,' with financial heft that will give London Square…
Luxury agency announces another big-name hire as dramatic scaling-up continues.
Adam-designed trophy home has been 'reimagined for 21st century living' by MSMR Architects and 1508 London, at a total cost of nearly £50mn.
YouTube star & luxury real estate agency team up to showcase the '$1bn' Chateau Du Champs De Bataille in Normandy, which is now up for rent.
Ex-Chestertons director Glynn Gibb steps up at the high-end estate agency.
Cohort Capital completes another PCL mega-deal as ultra-prime sector 'remains well insulated from wider economic headwinds'.
Conditions are 'highly-competitive' at the top-end, reports Beauchamp Estates, with multiple serious tenants often vying for the same property...and the victor happy to pay one or two years’ rent up-front.
Julian Bicknell-designed stunner is the most expensive home sold on St George’s Hill this year.
Eccord's MD summarises the key themes at play in PCL over last 12 months, and some trends to keep an eye on in the lead-up to the holidays.
By Jo Eccles
Deal numbers are down again in prime London, but sales supply has picked up.
'Having access to nature and green spaces is more important to residents than having access to public transport, shops and restaurants, and employment opportunities,' says Rightmove after surveying 26,000…
Beauchamp Estates found a buyer who 'wanted to live next door to Harrods'.