Market Index
Mortgage borrowing continues to slide
Fresh data from UK Finance and the Bank of England shows a sharp decline in property lending.
Land values see biggest decline on record as economic downturn bites
A major survey of housebuilders confirms “growing concerns” within the sector over the short-term outlook for the UK economy.
Global luxury house prices recover as rate uncertainty eases
"Price adjustments in many markets are likely to be less pronounced than was expected even three months ago," says Knight Frank.
Prime London Property Market Snapshot: Week 33, 2023
PrimeResi's regular sit-rep of London's prime residential scene, featuring the latest sales and lettings data from LonRes.
‘Only the more serious homebuyers & sellers are remaining proactive active in the market’ – Propertymark
The number of property viewings has plummeted, reports estate agency trade body.
August sees ‘much larger than usual price drop’ – Rightmove
Average UK asking prices are now 2% lower than at their peak in May - but remain nearly a fifth higher than in August 2019.
House price growth slowed further in June ‘but the fall was gentler than we have seen in previous months’ – UK HPI
The average UK house price was £287,546 in June 2023, which is £5,000 higher than 12 months ago, but £5,000 below the recent peak in November 2022.
London rental supply improves, but ‘competition is still fierce’
Foxtons reports a 6% improvement in lettings stock in the capital.
Average GB rent bill has risen 9.9% in the last year
Rental prices continue to climb at an eye-watering pace, reports Hamptons, as capital growth tails off.
Edinburgh house price growth turns negative for the first time in over a decade
Knight Frank expects Edinburgh's average property value to drop 10% over the next 18 months.
Sales market ‘continuing to lose ground’ while rentals remain hectic – RICS
July's survey of surveyors yields 'concerning' insights on both sales and lettings markets across the UK.
Lettings supply rises in Prime London as sales market stutters
“We are starting to see a noticeable shift in stock from the sales markets to the lettings market as owners are not able to sell for the asking price,” says Knight Frank.