Property Market News

London leavers bought 85% more homes outside the capital in the first half of this year than in H1 2019.

The annual rate of house price inflation across the OECD group of rich nations hit 9.4% in Q1 2021 - a 30-year high.

In a typical year, only around half of properties listed for sale on Rightmove successfully find a buyer. That has jumped to nearly 70% in the last year or so.

Net mortgage borrowing reached an all-time high of £17.9 billion in June, according to the Bank of England - smashing the previous record, set in March 2021, of £11.5bn.

"We expect super-prime sales to end 2021 on a high," says Knight Frank, as it flags a significant jump in US$10m+ deals across seven major global wealth hubs so far this year.

“It’s been an extraordinary period and I’ve never experienced anything like it," says Tom Stewart-Moore, head of Knight Frank’s rural business in Scotland.

Letting agents reported a record number of new prospective tenants per branch in June, according to Propertymark.

Knight Frank expects the country market to remain hectic through the Summer.

Savills has upgraded its 2021 UK house price inflation forecast, bumping it from 4% to 9% - although the five year outlook remains largely unchanged from March's predictions, with research chief Lucian…

"The prime residential sector is likely to remain strong through the rest of the year," says Savills in its latest World Cities Index.

Zoopla's research chief Grainne Gilmore expects property price inflation to continue to accelerate in the coming months, "peaking at around 6%, before falling back to between 4%-5% by the end of 2021.

"Astonishing" demand broke more property market records last month, reports Propertymark, but the estate agency organisation does anticipate "a rebalancing of the market over the coming months."