Property Market News
Knightsbridge flats are central London’s ‘best bargains’, with prices down 11%
"The race for space has left some central London bargains in its wake," says Knight Frank, with apartments in some Golden Postcode areas seeing average PSF prices more than 10% below their five-year average.
Busiest prime London market since 2014, with 61% more £5m+ deals than in 2019
The top-end of London residential sales market has just enjoyed its strongest first half since 2014, reports Savills, with 59% more £5m+ transactions recorded in the first six months of this year compared…
Knight Frank upgrades global prime price forecasts again
Luxury property price inflation is likely to return to London with gusto next year, predicts the Knight Frank team.
World house prices are ‘overvalued by around 10%’, warn economists
We're in one of the biggest global property booms since 1900, says Oxford Economics, as it warns that "the longer a housing boom continues, the bigger the risk of a large reversal".
Asking prices climb to another record high as the property market sees its busiest ever H1
House prices are being inflated by "frenzied" buying activity and a continued shortage of properties being listed for sale. There's a 225,000 shortfall of homes for sale, estimates Rightmove;
Asking rents hit a record high outside London, as city centres start to recover
Rental properties are finding tenants faster than ever before, reports Rightmove, as record demand pushes price up.
House price inflation picks back up to 10% – UK HPI
London continues to be the UK region with the lowest annual growth, for the sixth consecutive month.
Regional house price movements over the last year ‘are almost a complete reversal of both the 5-year and 10-year trends’ – Garrington
Buying agency Garrington has highlighted how limited the impact of the stepping down of the Stamp Duty holiday has been on property market activity so far.
Most buyers & sellers expect to move within three months – OTM
84% of property sellers expect to sell their home within the next 90 days, according to the inaugural OnTheMarket Sentiment Index, while 75.5% of buyers expect to find their next home within the same timeframe.
Central London rents likely to recover to pre-pandemic levels within a year – Hamptons
Average rents in central London have fallen by 16.
House prices likely to rise further as supply falls again – RICS
Faltering supply continues to underpin house price inflation across the UK, reports the Royal Institute of Chartered Surveyors.
Urban house prices around the world are rising at their fastest rate since 2007
43 of the 150 global cities tracked by Knight Frank have seen prices escalate by more than 10% over the last year, with five above 25%.