Property Market News
PCL sales are up 85% compared to last Summer – Dexters
"All the activity we are currently seeing gives us every confidence about the outlook for the Prime Central London property market," says Dexters. But others are less bullish.
Ex-short-lets flood London’s rental market
A 42% jump in rental supply in Central London has caused a record 8.4% fall in average rental values, reports Hamptons International.
The Guardian: The age of the office is over – the future lies in Britain’s commuter towns
"If I was in the property game, I would buy anywhere with a cathedral," writes Guardian columnist Simon Jenkins, as he mulls how the rise of home-working could revitalise rural and small town life.
Surveyors warn of a ‘boom followed by a bust’ as the property market continues to rally
Housing market activity continued to 'gain momentum' in July, reports the RICS, but most surveyors 'do not expect this impetus to continue' for more than a few months...
‘Lockdown lifestyle reappraisal’ sees rural & suburban prices rise while London continues to fall
Acadata's latest house price index tells of an "emerging new geography" for prices and demand - which may or may not be here to stay.
Property transaction numbers recover from lockdown lowpoint
The cumulative number of offers accepted in the UK since the start of the year is now above the five-year average, says Knight Frank.
Ranked: Which locations see the biggest average property price reductions?
Homes sold in the UK in the last year achieved an average of 95.8% of their initial asking price, according to some research by estate agency comparison website GetAgent.
Market Snapshot: Prime London’s post-lockdown recovery
Property market activity in PCL is rebounding more slowly than in outer areas, reports Knight Frank, and average rents continue to fall.
London leads national drop in rental price inflation
Rental price growth in London has tumbled as Covid-19 drives supply up and demand down, reports Zoopla. The portal expects rental growth outside the capital to halve to +1% by the end of this year.
Property price growth plummets in prime global cities, but ‘this is not a financial crisis as in 2008’
Prime global cities indices from Knight Frank and Savills reveal how Covid-19 has affected international property markets.
How the rise of the ‘digital commuter’ is redrawing the property market map
“The Covid crisis has pushed the property market into a hard reset," says Jonathan Hopper of Garrington Property Finders.
There are ‘bargains for buyers in the capital’s coveted postcodes’ – Coutts
"Some parts of central London are now looking extremely cheap compared to their previous price levels," suggests Coutts Bank, going so far as to advise its HNW clients that there are "bargains for buyers…