Property Market News
The ‘escape to the country’ trend has ‘evolved to a more urban focus’
“The search for space is far from over but the trend has a more urban flavour now,” says Knight Frank research chief Tom Bill.
Mortgage approvals dip but remain high
Encouraged by the temporary Stamp Duty holiday, individuals borrowed an additional £6.2 billion secured on their homes in February - the highest net mortgage borrowing level since March 2016 (£7.
Jump in chain-free property listings as buyers prime for action
The number of chain-free property listings has jumped from one in six at this time last year to more than one in five now.
House price inflation slows to +7.5% – UK HPI
The average UK house price dipped by 0.5% in January, according to the latest official UK HPI, leaving the annual rate of change at a still-high +7.5%.
Buyer demand spikes but supply fails to keep pace
Houses are selling three weeks faster than flats, reports Zoopla, as more buyers hunt for more space.
SDLT receipts dip just 6% despite Stamp Duty holiday
HMRC brought in £775m in Stamp Duty receipts in the year to February 2021, £49m less than the £824m recorded in February 2020.
Total UK housing value climbs to a record £7.56 trillion high
The total value of the UK’s housing stock has escalated to £7.56 trillion, rising by £380 million in 2020 despite the pandemic and global economic uncertainty.
London is ‘unlikely to benefit from the spring bounce to the same extent as some parts of the country’ – Garrington
"The property market is likely to become more free flowing" in the coming weeks, says buying agency Garrington, as more homes come to market and "some form of gradual normality returns post lockdown.
Pandemic ‘sparks house price surge’ in global markets
Property prices increased in nine out of ten countries in 2020, according to Knight Frank's latest index.
‘Strongest spring sellers’ market in the past decade’ – Rightmove
“The current excess of buyer demand over supply is the largest we’ve seen in the last ten years and suggests that this could be one of the best ever Easters to sell,” says Rightmove, as it tries…
Stock drought fuels rent inflation outside London
Half of landlords reletting their property increased the rent this year, says Hamptons; that's the highest figure since 2016. In London, however, only 37% of landlords were able to raise rents.
Knight Frank swings house price forecast up, from 0% to +5% this year
UK property prices are likely to rise this year, says Knight Frank, as it follows other market-watchers in revising up forecasts.