Property Market News
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…
Lockdown-induced flight from cities is ‘overstated’, says Zoopla
Any increase in demand for country living over urban location is likely "to be a one-off factor rather than a long-term ‘seismic shift’ in consumer attitudes," says Zoopla.
59,000 ‘lost’ deals: Estimating the financial cost of lockdown to the estate agency sector
The UK's Covid-19 lockdown caused a dramatic slump in the number of new instruction and sales agreed, reports Twenty EA, but property exchanges appear to have been more resilient.
‘There are signs that normality is returning’ to the property market, says Knight Frank, but uncertainty remains
"The UK will officially be declared to have entered a recession next month," says Knight Frank's Tom Bill.
Edinburgh hots up while Scotland’s country house market makes a ‘slow return’ from lockdown
Edinburgh's prime property market has picked up more quickly than Scotland's country house scene since Covid-19 lockdown restrictions were eased, says Knight Frank.
Covid-19’s impact on global property markets ‘will likely be less than in the global financial crisis’
"A full house price crash [is] a distinct possibility," warns Oxford Economics as it assesses the potential fallout of the Covid-19 pandemic on global markets.
‘A value gap has enabled a recovery in buyer demand across countryside locations’ – Savills
England's prime regions "remain price sensitive" despite a surge of demand and activity in the aftermath of the first Covid-19 lockdown.
153 $10m+ sales worth $3.2bn: How the world’s super-prime markets fared under lockdowns
Activity may have plunged, but global super-prime property markets "outperformed expectations" under lockdown, reports Knight Frank, with 153 sales going through above $10m since March.
‘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.