Property Market News

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…

"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.

"The current pace of the market has put buyers with a home to sell at the back of the queue," says Hamptons' research chief.

"The spring market is brisk and competitive," says buying agency Garrington in its latest summary of the UK's property market.

“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.“

Prime regional house prices have finally topped their 2007 (pre-Global Financial Crisis) peak, says Knight Frank, and "there remains headroom for future growth".

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.

"It is encouraging to see far calmer and more consistent conditions prevailing," says Landmark Information boss.

"It is encouraging that a little more stock appears to be returning to the market," says the RICS' chief economist.

Average asking rents have risen by over 20% in Central London over the last year, and by 11% outside of the capital.

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.

London property prices jumped by 2.2% in February, as the national annual rate of house price inflation climbed to +10.9%.