Property Market News
London’s royal borough price premium shrinks
The capital's three Royal Boroughs - Kensington & Chelsea, Kingston and Greenwich - have underperformed Greater London's average property price growth over the last five years.
Buyers are facing the most competitive property market on record – Rightmove
Asking prices have reached an all-time high, says Rightmove, as competition among potential buyers to secure their next home is now more than double what it was this time in 2019.
August record for above-asking deals
37% of sales agreed in August were for more than the original asking price, reports Propertymark, as demand continues to rise and supply to fall.
The average pandemic home-seller made a six-figure profit
Savills has looked into how much "profit" people made from selling their home during the pandemic, thanks to rampant house price inflation.
UK property price inflation slows to +8%
July say the biggest monthly drop in average house prices since 1992, according to the latest official house price data.
Global house prices climb at fastest rate since 2005
Knight Frank's Global House Price index is rising at its fastest rate since Q1 2005. A third of tracked property markets have seen prices escalate by at least 10% in the last year.
A new place to call home: Seven perspectives on global residential property market shifts
“The pandemic has sent shockwaves through residential property markets across the globe," says Savills, as seven of its most insightful experts share their thoughts on how shifting priorities and lifestyle…
Seaside resorts see biggest rental shortage as tenant competition quadruples
Rightmove has identified which locations are being particularly affected by rental supply shortages - highlighting the effect on seaside resorts as the "staycation" boom continues.
Property sales supply is building, but ‘it doesn’t feel like a significant escalation is on the cards’
Home-buying activity should remain "brisk" through to the end of the year, predicts estate agency Knight Frank, but it won't be as "frenetic" as the first six months.
‘London’s overall influence on the prime market has dropped’, says Rightmove, as Scotland becomes Britain’s fastest-moving £1m+ property market
London now accounts for 40.5% of all seven-figure transactions in the UK, down from 47% before the pandemic.
Average rents have increased by 7.4% in the last year
But the total amount of rent paid by tenants across Great Britain has fallen 8% since 2018, says Hamptons.
PCL has ‘turned into a landlord’s market in recent weeks’, as tenant demand surges by 73%
A top estate agency has reported the highest number of new prospective tenant registrations in five years - topping previous records set in June and July this year.