Property Market News
Record highs for housing demand & rental supply
Propertymark reports that 2020 saw more home-buyers register and more sales agreed per estate agency branch than any other year of the last decade.
More global markets see house prices begin to fall
The percentage of international property markets registering an annual fall in mainstream residential prices jumped from 2% in Q1 2020 to 16% in Q3 2020.
Surveyors: ‘There is considerable concern about the prospect of a sharp slowdown in transaction activity’
The pace of property demand growth "does appear to be losing a bit of steam and slowing", reports the Royal Institute of Chartered Surveyors, as house prices continue to rise.
‘Momentum is building’ across prime London as buyers & tenants take advantage of lower prices
Prime London Market Snapshot: The latest data on PCL and POL from Knight Frank.
Extending the Stamp Duty holiday could double the rate of house price inflation in 2021, predicts agency
"The prime and super-prime markets will continue to break away from the core housing market" in the coming year, forecasts Jackson-Stops.
Stamp Duty holiday deadline is ‘not a dealbreaker for most buyers’, as vaccine set to boost the property market next year
The Stamp Duty holiday "is not a dealbreaker for most buyers (especially at the top end)", says Savills, after surveying 1,300 prime property buyers and sellers.
Ranked: Prime London’s most price-reduced areas
21% of £3m+ sales listings in prime London areas have had their initial asking price reduced; Maida Vale is the most discounted enclave...
Average time to sell a home jumps to 141 days
In 2019, it took an average of 129 days from a listing first appearing on a property portal to the transaction completing. That's jumped to 141 days in 2020.
Only one in five people expect UK house prices to fall next year
A recent survey has also found that British buyers are more likely to put forward a lower offer than asking price compared to their European counterparts.
‘London is better positioned than its main competitors to come out of Covid well’: Northacre’s chief on the resilience of London’s luxury property market
"London is better positioned than its main competitors to come out of Covid well," argues Northacre's CEO, Niccolò Barattieri di San Pietro, as he suggests that "lockdown highlighted the greatest pleasure o…
FT: Search for splendid isolation drives prime home sales boom
The ultra rich seek to turn holiday homes and private islands into more permanent bases for working and studying, writes James Pickford in the Financial Times.
Infography: A deep dive into Prime Central London’s pandemic property market
Savills' Lucian Cook and Frances Clacy examine transaction activity, prices, buyer demand and international activity in London’s prime central property markets...