OBR slashes property price growth forecasts

‘The latest near-term indicators of housing market activity point to a significant weakening’, warns the Office for Budget Responsibility, as it anticipates falling property prices and transaction numbers this year.

The global UHNWI population is forecast to grow by 22% over the next five years

“Despite a darkening economic outlook, wealth creation will remain a constant in 2019,” predicts Knight Frank in its new Wealth Report. “The global UHNWI population is forecast to rise by 22% over the next five years, meaning an extra 43,000 people will be worth more than US$30m by 2023, this is a remarkable performance in the expansion of wealth across the world.”

Prime London rents show ‘early signs of bottoming out’

Rental values in the capital’s prime resi markets have fallen by an average of 9.6% since the Brexit Referendum in 2016 – but the pace of declines slowed in 2018, and Savills is predicting a new phase of positive rental growth for London and its prime commuter belt.