Property Market News
Prime rental growth outpaces capital values in most global cities
“Megacities are once again thriving as tenants are drawn back to urban living after the lifting of lockdowns," says Savills, as prime rents climb in New York, Singapore, London and Los Angeles.
‘London’s prime property market is getting back on form’ – Coutts
High-society bank tells affluent clients that PCL is back in action.
Savills halves PCL price forecast for 2022
Prime Central London's property market recovery is taking longer than expected, says Savills, as it downgrades its forecast for this year
Bank of England bumps interest rates up 0.5% to 1.75%; warns of a recession by the end of the year
Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
‘The winds of change are blowing through global property markets’ as price growth slows
Knight Frank's latest international index tells of cooling housing markets around the world, including at the top end.
£1mn+ home sales have jumped 93% in the last decade
Eight out of ten local authority areas in England and Wales have seen at least one £1mn+ property sale so far this year, up from only half in 2012.
Knight Frank’s head of resi on the markets to watch in H2
After a frantic first half, Tim Hyatt reviews the state of play in the prime sales, lettings and new homes markets - and looks at how the next six months could unfold…
Property market ‘is not slowing as fast as some might expect’ – Zoopla
Property portal predicts house price growth will slow to 5% by the end of this year, but buyer demand remains high in the face of rising interest rates and costs of living.
‘London exodus continues’ as a record proportion of first-time buyers leave the capital in search of a home
"One of the biggest Covid-related housing market trends - moving out of London for the country - could be here to stay," suggests Hamptons.
Mortgage approvals drop as higher interest rates start to bite
The number of home-buyer mortgage approvals has fallen below the pre-pandemic average, according to the Bank of England. “Higher interest rates are starting to bite," says Savills.
Surging tenant demand pushes London to ‘the most competitive rental market in recent history’
“We have certainly seen the most competitive rental market in recent history over the past six months," declares Richard Davies, MD of Chestertons, while Benham and Reeves boss Marc von Grundherr warns "…
Majority of property vendors ‘are holding their nerve on price’
52% of homes that have been listed for sale for more than ten weeks have not reduced in price.