Property Market News
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.
‘A welcome shift towards more balanced conditions’ as property market returns towards pre-pandemic conditions
"It is encouraging to see far calmer and more consistent conditions prevailing," says Landmark Information boss.
‘Spring is in the air’ as property supply turns up – RICS
"It is encouraging that a little more stock appears to be returning to the market," says the RICS' chief economist.
‘Most competitive rental market ever’ drives record rental price inflation
Average asking rents have risen by over 20% in Central London over the last year, and by 11% outside of the capital.
Most Prime London homes are still being sold for less than their asking price
Prime London vendors are accepting an average of 3.6% less than their asking price, according to research by Benham and Reeves - but discounts are getting less chunky as the market bounces back.
Property boom continues as average UK house price climbs 10.9% in a year – official data
London property prices jumped by 2.2% in February, as the national annual rate of house price inflation climbed to +10.9%.
Slow growth predicted for development land values as building costs climb
"Developers will need to absorb new costs, and tighten margins in order to secure sites in what we expect to continue to be a competitive market," says Savills' head of regional development.
UK house price growth to slow as cost of living bites – Knight Frank
House price inflation is likely to "unwind" back to single figures across the UK, predicts Knight Frank, although Prime Central London is set for higher price growth as global travel resumes.