Savills’ latest buyer and seller survey highlights how prime property buying intentions are evolving.
Official data points to a property market slowdown.
Residential real estate has shifted from an alternative to a core asset class in the eyes of investors, says Knight Frank, as record amounts are pumped into the sector.
The number of planning applications to build skyscrapers in London has dropped by more than 13% in the last year, according to the ninth annual London Tall Buildings Survey by New London Architecture and Knight Frank.
“The recovery of the rental market has led to a shift in tenant profiles,” says LCP boss Andrew Weir, “as older tenants return to the office and outcompete young professionals and students.“
“It is encouraging that a little more stock appears to be returning to the market,” says the RICS’ chief economist. “This is still early days in that inventory remains not far off historic lows but if the trend continues, it could help to create a better balance between supply and demand.”
44% of global cities saw average house prices surge by more than 10% in 2021.
There are currently 172,589 residential properties listed for sale across the UK, according to research by TwentyCi, and another 237,512 homes with sales agreed. A total of 290,381 property sales have completed in the last three months.
Foxtons saw a drastic surge in demand for homes in London as the Covid-19 pandemic eased; producing a series of charts to illustrate the capital’s key property market trends through an extraordinary time.
Rightmove has recorded the biggest March jump in average asking prices since 2004 – but the portal’s top analyst warns “there are headwinds that seem likely to remove the current market froth in the second half of the year.”
Knight Frank’s Prime International Residential Index posted its biggest ever year in 2021, with luxury property prices around the world rising by an average of 8.4%.