Property Market News
‘Unexpected mini-boom’ pushes asking prices to a record high
"Current activity levels clearly show that Britain is getting moving again," says Rightmove, with the Stamp Duty holiday serving to “amplify the buyer surge”.
Rents have risen across most of the country, but have fallen sharply in London
A rise in the number of properties available to rent combined with a drop in international demand have driven a 7.4% year-on-year decline in average rents in Inner London, says Hamptons.
OBR revises housing market forecasts in light of Covid-19
Three scenarios for house prices and transactions volumes over the next five years have been presented by the Office for Budget Responsibility - an Upside, a Central, and a Downside.
KF saw more offers accepted in June than in any other month of the last 20 years, smashing the previous record by 46%
There's been an extraordinary release of pent-up demand in the sales market since lockdown restrictions were lifted. "The uncertainty is how long it can last," cautions Knight Frank.
Asking rents reach a record high across the country, but dip in London as supply balloons
Asking rents outside London have climbed by 3.4% in the last year, while the capital has seen a dip of 0.6% as rental stock piles up.
Buyers’ desire for a better work-life balance is driving ‘increased urgency’ in the prime property market
Three-quarters of house-hunters registered with Savills say that Covid-19 has led them to "reconsider their work-life balance".
A ‘blip’ or ‘a once in a generation event’? Mixed opinions in Garrington’s July property market review
"Opinions are increasingly divided as to whether the property market is enjoying a temporary blip in activity due to the released pent-up demand, or whether what is being witnessed is a ‘once in a generation’ eve…
Demand for development land ‘remains robust’
"Many new [residential development] sites are being soft marketed to test the appetite in the market," reports Savills, "and some have been launched now avoid competition with other sites later in the…
Economists predict ‘a slow recovery in activity, but a relatively benign outcome for house prices’
House prices are likely to fall by 7% as a result of Covid-19, predicts Oxford Economics - but the risks are "heavily skewed" towards much, much bigger price falls of almost 40%...
Rishi Sunak’s stamp duty cut is not about helping first-time buyers, but shoring up the whole UK economy
"Property prices are critical to UK prosperity," writes Professor Alexander Tziamalis
Stamp Duty holiday drives instant property portal activity surge
Record levels of traffic and enquiries were recorded on the major property portals following the Chancellor's SDLT tax cut announcement.
PCL’s ‘overdue’ return to growth has been delayed to 2021, predicts Savills
Revised five-year forecasts suggest more muted price inflation in Prime Central London, following the Covid-19 crisis.