Property Market News
Solicitors flag ‘a massive rise in price chipping’ as gazundering returns to the property market
Buyers are attempting to secure last-minute discounts on around 50% of house sales, suggests Osbornes Law – a practice that “has been unheard of in recent years.”
London’s super-prime rental renaissance: Why renting has become a ‘cool’ choice for the wealthy
“There has been a shift in the perception of renting in the last few years,” says Isabella Birch Reynardson, head of super-prime lettings at Savills, as she explains why tenant demand is likely to sta…
Tenancy renewals climb in the ‘Big Stay Put’
A continued mismatch between rental property supply and demand is encouraging more tenants to renew contracts, says Propertymark.
‘Rental stock slump is close to bottoming out’ – Hamptons
City centre rents are rising fast as stock levels drop, says Hamptons, although the national headline rate of rental price inflation continues to ease.
‘The market is splintering,’ warns buying agency as buyers show ‘a heightened sense of caution’
"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…
Country property market continues to surge as ‘more traditional rhythms’ emerge
Britain's country house market continues to romp along at pace, says Knight Frank, as "pent-up demand keeps the race for space alive
41% of agents report the average property deal now takes more than four months to complete
Propertymark's July market snapshot tells of slowing buyer demand, as deals taking significantly longer to complete than in pre-pandemic times.
House price growth slows to +7.8%
The average UK property price increased by 1% from May to June this year, according to the latest official House Price Index.
The number of homes listed for sale has fallen 12.5% in the last year
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
Sharp drop in confidence amongst London property sellers
"The change in economic headwinds is starting to be reflected in seller confidence," says OnTheMarket.
Another top agency cuts Prime Central London property price forecasts
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
Traditional Summer dip sees asking prices fall for first time this year – Rightmove
"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.