Property Market News
£1m+ home numbers rise for the first time in five years
A sharp rise in 2020 means that Britain is now home to 53% more seven-figure properties compared to a decade ago - but 7% fewer than in 2015.
Mortgage approvals hit highest annual total since 2007
103,400 house purchase mortgages were approved in the last month of 2020, taking the year's total to 818,500 - the biggest number in one year since 2007, despite approvals hitting a record monthly low…
What’s next for the Prime Central London rental market?
As new data suggests a shift may be underway, former hedge fund manager Fraser Slater takes a detailed look at what’s happening in the PCL rental market right now - and explains why things are unlikely…
Housebuilders turn ‘an eye to risk management’ as land values tick up
Housebuilders reported strong sales rates in the second half of 2020 - but volumes are likely to return to "more normal levels", says Savills.
French Riviera named most expensive international super-prime property hotspot
Resort property enclaves dominate a new list of international luxury property hotspots, based on high average asking prices.
Ranked: London’s home-selling hotspots
There are six London boroughs where more than one in 25 homes are currently listed for sale.
12% drop in new instructions as vendors take stock
Sellers are "reluctant" to list their homes for sale during this third national lockdown, reports Zoopla, but buyer demand continues to escalate.
City centre rents suffer as tenants look to suburbs
"The pandemic has led to falling asking rents and a flood of properties coming into the market in a number of the UK’s biggest city centres," says Rightmove.
December’s agreed sales tally was the highest since 2006
Estate agency branches did an average of eight sales deals last month, according to Propertymark, down from 13 in November but still the highest December total since 2006.
What’s happened to property prices in London’s Golden Postcodes?
The average price paid in Prime Central London has fallen by 10% since the start of the Covid-19 pandemic - but some enclaves have seen dramatic prices rise.
20% more people are currently in the process of moving home compared to last year
"The volume of households moving through the homemover funnel" has reached "unparalleled levels", says research firm Twenty Ci.
Prime London saw 12% more £5m+ property sales in 2020 than in 2019
Surprisingly high prime sales volumes are "a clear demonstration of confidence in London as a leading world city," says Savills.