Property Market News

April's tally of residential property sales was still well above pre-pandemic norms, but the market appears to be easing from its frantic pace.

“It feels like we are at a crossroads,” says KF's James Cleland, as the number of new sales instruction picks up.

Savills' latest buyer and seller survey highlights how prime property buying intentions are evolving.

“A lack of homes for sale rather than a lack of desire from buyers is what is dictating the pace of the market,” says Rightmove, as the UK’s average asking price rises 2.1% in a month.

"Despite delays in the line opening, the number of buyers looking to move near the stations has steadily surged," says Rightmove.

Official data points to a property market slowdown.

A 20% drop would be NZ's biggest property market fall since the 1970s - but would only return house prices to where they were at the start of last year.

The average London rent bill has risen 15.7% in the last year, reports Zoopla.

Rents and capital values of prime property continue to rise despite increasing interest rates and geopolitical uncertainty.

"Tenants are returning to the bright lights of the city and this is driving rental growth to record highs," says Aneisha Beveridge of Hamptons.

Strutt & Parker has updated its five-year property market forecasts, anticipating a sharp upturn for central London's lettings market as tenant demand outpaces rental supply.

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.