March saw a 57% increase in the number of people looking to buy a property in London, and a 21% increase in the number of tenants looking to move compared to February, according to Chestertons.
A “combination of bold developers and new arrivals” from Hong Kong “could provide a shot in the arm for London’s pandemic-afflicted property market,” writes Karen Kwok for Reuters… “But property developers – and prospective buyers – risk getting carried away.”
Rightmove has ranked the ten hottest buyers’ and sellers’ markets in Britain, based on the proportion of this year’s property listings that have already sold subject to contract.
131,900 buy-to-let homes were sold-off by investors in 2020, says Hamptons; the lowest number since 2013.
The consensus amongst surveyors is that renewed property market momentum following the extension of the Stamp Duty holiday will be “sustained over the near term.”
81% of international city markets tracked by Knight Frank saw property prices rise in the year to Q4 2020; one in five (20%) registered double-digit price inflation.
Properties in some areas are finding buyers significantly more quickly than they were a year ago, reports Zoopla.
Another agency is reporting a significant pick-up in top-end rental activity.
Back to work plans are boosting demand for town and city homes, says Savills, but the country house and coastal property markets are still riding high.
Upper Phillimore Gardens in Kensington has been named London’s most expensive address of last year, with a median sold price in 2020 of £28 million.
The number of properties selling for more than their asking price increased to one in nine (11%) in February, according to Propertymark – the highest level since August last year, and the highest February figure since 2016.