Property Market News
Property prices continue to rise in most prime global cities, but markets are weakening
The average annual rate of property price inflation across the 150 tracked cities moderated from +3.6% in Q1 to +3.4% in Q2.
Up-sizers’ average ‘trade-up gap’ escalates to £68k
Asking price inflation for three-bedroom houses has outstripped the price growth of two-bedroom flats every year for the last five years, says Rightmove.
Prime property prices outside London top pre-crash peak
Average prime values outside of London have climbed beyond their 2007 peak for the first time, says Savills, and now sit some 1.4% above their pre-crash high.
‘British house price boom to fizzle out next year’ – Reuters poll
A poll of property pundits a 2% rise for UK property prices this year, before a "flatline" in 2021.
Savills drastically raises mainstream property price & transaction forecasts
"Previous UK recessions have been associated with house price falls, but 2020 looks set to be the exception," says Savills as it "significantly upgrades" is forecasts for both property prices and transaction…
Market Snapshot: Scotland’s £1m+ market has ‘picked up where it left off’, driven by a country house revival
Edinburgh usually dominates the Scottish prime market, but more rural locations have stepped up since the Spring Coronavirus lockdown was eased.
One in eight properties sold above asking price in August
13% of homes went for more than their original asking price last month, according to Propertymark, up from 8% in July and 10% in June.
Six key issues that will shape the property market this winter
More vendors are cutting asking prices, notes Knight Frank, demonstrating "a flicker of nervousness" in the property market as summer turns into autumn.
‘The economic consequences from the Covid-19-induced recession will pull the housing market from its long-term growth trajectory’ – Hamptons
2021 will be "challenging", but estate agency brand Hamptons International expects the national average property price to end this year higher than it started it, despite Covid-19 and Brexit, and to climb…
Zoopla predicts ‘a windfall for the market’ in Q1 2021 as transactions complete
House prices are up 2.6% on the year, according to Zoopla, but buyer demand is beginning to cool.
£1m+ house sales are ‘outpacing the market’, says Rightmove
Sales activity in the £1m+ property market "is soaring as wealthier buyers make moves to bigger houses or new locations", according to Britain's biggest property portal.
‘Every home sold means more jobs protected’: Sunak lauds the rallying housing market
Residential property transactions jumped by 15.6% in August, following a 14.5% rise in July, prompting Chancellor Rishi Sunak to trumpet a triumph for the Treasury's Stamp Duty holiday policy.