On the vicious cycle of low supply
There is currently a massive imbalance in the UK market with 13 buyers for every property listed, according to Knight Frank. Here, the firm’s Tom Bill looks at the dynamics of low supply, and how the situation is likely to play out in the months ahead...
Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.
What to read next
Post-Christmas supply builds as Omicron uncertainty fades
The lifting of restrictions this week could see the supply of property re-build and normal house price economics return, says Tom Bill.
By Tom Bill
‘There are quiet Augusts and then there are quiet Augusts’: Prime London sales hit 18-year low
Latest LonRes numbers point to a particularly slow summer for prime London - but there are signs of life at the top end.
Tom Bill: Higher-value property markets see bigger pre-Budget slowdown
'Stamp duty on sales above £2mn accounted for 22% of the £11.7bn raised last year, which is something the government may want to consider as it puts the finishing touches to its Budget'
By Tom Bill
Companies in this article
Knight FrankMost read
Boutique London agency snaps up another lettings portfolio
Around 50 managed properties join the firm’s books as it continues its expansion across PCL & SW London.
Italy’s exit tax plan raises eyebrows in Britain
'Perhaps we don’t look so bad after all?' quips top London buying agent as Rome pitches a departure charge for wealthy residents.
Top-end Kensington scheme racks up over £70mn in sales
Developer unveils resident amenities and reports latest sales progress at Squire & Partners-designed project.
Knight Frank puts heavyweight duo at helm of London Private Office
Specialist division brings together the firm's 'most accomplished advisers' for UHNWIs.
Super-prime St John’s Wood project goes for above guide
'Buyers will move decisively for exceptional homes in the best locations,' says agency after sealing £10.1mn deal.
Sale agreed on final Knightsbridge Gate apartment
The last of the PCL scheme’s 15 residences has found a buyer, rounding off a sales campaign that saw guide prices hit £25mn.
Native Land teams up with Singaporean investor for PCL acquisition drive
Kensington block changes hands as new venture targets the capital’s prime rental market.
PCL agency bolsters team after high-end deal run
Former Aston Chase ops manager joins alongside two agents as the Mayfair-based firm sets its sights on further expansion.
£48mn price tag for Bryan O’Sullivan-designed penthouse at Chelsea Barracks
First Look: Inside one of the year’s biggest new-build launches.
Elicyon names new Creative Director
Rebecca Larn steps up at Charu Gandhi's London-based luxury design firm.
LATEST ARTICLES
High-profile agency reopens SW3 sales operation
Chestertons has a dedicated Chelsea sales team for the first time in nine years.
By PrimeResi
Buyer swoops on ‘one of London’s most celebrated historic houses’
Architecture wins out over postcode as purchaser searching in Westminster exchanges on landmark mansion south of the river.
Savills pushes housing market recovery back to 2028
New forecasts: Mainstream UK prices are tipped to fall 1.5% next year, with London in for a 3.5% drop as top agency downgrades expectations again.
By PrimeResi
Raffles unveils standalone resi debut
Luxury hospitality marque picks exclusive US enclave for collection of 35 ‘generational residences’.
Six months on: How has the Renters’ Rights Act played out in practice?
Savills’ Amelia Greene reports from the lettings front line, where several of landlords’ biggest fears have yet to materialise.