Property Market News

Property markets are surging around the world. But "there are good reasons to think this will mark the last house price boom for the next 30 years," says Capital Economics.

Asking prices have fallen for the first time this year, driven by declines at the top-end, but Rightmove is predicting an Autumn bounce for the property market.

Rental homes are "increasingly being used as a stop-gap by house-hunters faced with a lack of stock to buy," says Hamptons' research chief, Aneisha Beveridge.

"Happy holiday for luxury London property", declares Coutts bank, as the prolonged Stamp Duty tax break drives record sales in the capital.

"The overall tone to the market remains firm", says the RICS, with property prices continuing to rise despite a drop in new buyer enquiries.

Apartments across Great Britain are looking like good value, says Rightmove, at least when compared to detached houses, which have seen average asking prices rocket over the past 18 months.

Runaway property price growth in the regions is likely to soften from next year, predicts Savills, while Prime Central London prices are set for a sharp upwards bounce once international travel resumes.

“The see-saw of high supply and low demand is tipping back the other way,” says Knight Frank. “Demand is coming from multiple sources and rental values are getting stronger as a result.”

Rightmove has flagged "a more sustained shift in buyer preference than initially thought" as demand for seaside properties outpaces demand fro city living.

Annual property price inflation in Prime Central London has picked up to 0.8%; the highest rate since May 2016.

London's NW3 is the most valuable postcode of the year so far, with £262.5m-worth of residential property changing hands.

“Rental markets look set to be subdued for the rest of 2021," says Savills as its World Cities rental price index returns to positive growth, but the longer-term outlook is more positive.