Property Market News
"The UK property market has mirrored recent weather trends seen over the last month," says Garrington's research presenter, Olivia Wayne, in the buying agency's August property market snapshot - "with…
Britain's country house market continues to romp along at pace, says Knight Frank, as "pent-up demand keeps the race for space alive
Propertymark's July market snapshot tells of slowing buyer demand, as deals taking significantly longer to complete than in pre-pandemic times.
The average UK property price increased by 1% from May to June this year, according to the latest official House Price Index.
Estate agencies have listed an average of 7.3 homes per branch across Britain in 2022 so far, down from an average of 8.4 in 2021, according to some new research
"The change in economic headwinds is starting to be reflected in seller confidence," says OnTheMarket.
Strutt & Parker now expects PCL property prices to end this year 2-5% higher than they started it, having predicted 5-10% growth through 2022 just a few months ago
"Prices usually drop in August, and this 1.3% drop is on a par with the average August drop over the past ten years," explains the Rightmove team.
"A lot has changed in global property markets since we issued our last global prime residential forecast in December 2021," says Knight Frank
"It is little surprise that housing market activity is now losing some momentum," says the RICS - but most surveyors "still anticipate prices will be modestly higher than current levels in a year’s time."
After two years of punchy growth, house prices in 25 regional market towns have fallen by an average of 2% in the last 12 months.
The average international premium for a waterfront property compared with a non-waterfront home has climbed to 40%, according to Knight Frank.