Property Market News
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.
Developers scale-back tall building projects in London
The number of planning applications to build skyscrapers in London has dropped by more than 13% in the last year, according to the ninth annual London Tall Buildings Survey by New London Architecture and…
‘The ball is still firmly in the seller’s court’ as the Spring property market kicks in
"Buyers are still predominantly paying asking price and above meaning the ball is still firmly in the seller’s court," says Propertymark in its latest monthly market update.
End of the Chain? A record three-quarters of buyers are now chain-free
"The current pace of the market has put buyers with a home to sell at the back of the queue," says Hamptons' research chief.
‘Market dynamics have changed and looking at past trends may no longer be helpful’ – Garrington
"The spring market is brisk and competitive," says buying agency Garrington in its latest summary of the UK's property market.
PCL rental stock has dropped 75% as tenants return to town
“The recovery of the rental market has led to a shift in tenant profiles,” says LCP boss Andrew Weir, “as older tenants return to the office and outcompete young professionals and students.“
Country house prices hit record highs as pandemic lifestyle shifts ‘feel locked in’
Prime regional house prices have finally topped their 2007 (pre-Global Financial Crisis) peak, says Knight Frank, and "there remains headroom for future growth".
‘Strongest ever’ start to the year for London’s £5mn+ property market
128 London homes changes hands for more than £5mn in the opening three months of the year; 25% more than in Q1 2021, and 24% more than in Q1 2020.