Market Index

'The implications of stubborn inflation on the UK mortgage market are hampering activity in Prime Central London,' says JLL.

Nearly three-quarters of recent residential property deals in Prime Central London involved cash buyers, according to analysis by Savills.

Knight Frank's latest Global House Price Index slowed to +3.6% in the 12 months to Q1 2023, down from 5.7% in the previous quarter.

'The story of low supply in the prime London lettings market appears to be coming to an end,' says Knight Frank's research head.

'The economic mood has darkened but the market is far from grinding to a halt,' says Knight Frank's research chief, Tom Bill - although 'the air continued to slowly come out of the prime London property…

The average asking price discount has climbed to 3.8%, says Zoopla, as one in six vendors accept offers at least 10% below their initial asking price.

Service charges surged as improved fire safety measures were introduced in the wake of the 2017 Grenfell Tower tragedy.

Garrington rounds-up some of the big property market indicators and indices to give a buyers-eye overview of the market in June.

London continues to have the lowest rate of annual house price growth of any UK region - but the capital saw a 2.1% jump in sold prices from March to April.

Property portal still expects average asking prices to end 2023 2% lower than they started they started the year.

Singapore and London have seen the biggest prime rental price increases over the last year, according to Knight Frank's latest city index.