Property Market News
£269.5bn-worth of residential property changed hands last year
The total value of UK homes sold in 2021 was 37% higher than in 2020.
‘The risks are rising’: Top analyst warns of a looming property market downturn
"Underlying fundamentals suggest house prices are reasonably priced at current levels," says Neal Hudson, but "the fundamentals may be about to change – potentially quite quickly."
It is clear that houses are the preferred option for buyers across Prime London – LonRes
While house prices have risen by 6.1% over the last two years, the price of flats has fallen by -0.9%
Prime London Market Snapshot: Tight supply & returning demand push prices & rents up in PCL
"The property markets in central and outer London are increasingly on different trajectories," says Knight Frank, as the latest market indices shine a light on sales and lettings trends.
BoE raises interest rates to a 13-year high
The Bank of England expects interest rates to climb to around 2.5% by mid-2023.
Mortgage lending stays well-above pre-pandemic norms
The latest Bank of England data show a slight drop in mortgage approvals.
UK house price growth hits a 15-year high, but supply is starting to improve – Zoopla
Surging house price inflation has pushed 4.3 million homes into a higher stamp duty bracket since the start of the pandemic, estimates Zoopla.
Rising interest rates & cost of living ‘yet to impact’ prime property buyer budgets
“With the market as competitive as it is, motivated buyers can ill afford to reduce budgets, despite rises to mortgage rates and household bills," says Savills.
Charted: Real house price inflation over the last 40 years
Using OECD data, content creator James Eagle has compared real house price growth in key international property markets over the last four decades.
Bath named Britain’s city property hotspot, as asking prices jump 15% in a year
Rightmove charts which UK cities have seen the biggest leaps in average asking prices in the last 12 months.
UK house prices likely to fall in 2023 & 2024, predicts Capital Economics
Influential forecasting house expects average property values to drop by 5% overall through 2023 and 2024.
The average estate agent sold 19% more homes in 2021 than in 2020
Estate agencies sold an average of 46 properties in 2021 - seven more than in the previous year.