Property Market News
Prime London prices dipped by 1.1% in Q2, but house values have held up as buyers ‘reassess their needs’
"We have been surprised at the extent to which lockdown has made people reassess their housing needs and, more pertinently, act upon it," says Savills.
The property market’s post-lockdown surge ‘has continued into its sixth week’ – but how long will it last?
Knight Frank has just recorded its biggest ever week for offers accepted.
Demand surge to prop up house prices for the next few months, but the post-lockdown bounce is already slowing
"The surge in demand for property is expected to delay house price falls, pushing them towards the end of 2020," says Zoopla, as it forecasts that annual price inflation will be sustained at 2-3% for the…
NAEA boss warns ‘Covid fatigue’ could force another property market lockdown
"If the sector is seen to be abusing the safety rules, the Government has the right to withdraw its consent to keep the housing market open," warns Mark Hayward, Chief Executive of the National Association…
Savills revises rental growth forecasts down
Rental yields are likely to be lower in 2024 relative to today, predicts Savills.
Savills forecasts a 7.5% drop for house prices this year, with transactions down by a third
Savills is standing by its pre-pandemic five-year forecasts, despite anticipating a major slump in 2020.
Rising sales supply leads to ‘more sustainable market conditions’ – but ‘the recovery is still fragile’
New sales instructions have increased by 16%, says Knight Frank, as supply catches up with post-lockdown demand.
Agent enquiries have jumped by an average of 32% as Northern towns bounce back faster
Northern towns have seen the biggest surge in buyer demand since the property market re-opened, reports Rightmove.
Activity returns to global property markets, but there’s a ‘disconnect’ between buyers & sellers on pricing
Residential property activity in China "has largely returned to normal" after two or three months out of lockdown, reports Savills.
‘So little has been able to happen, yet so much has changed in the property market’ – Garrington
"So little has been able to happen, yet so much has changed in the property market," says buying agency Garrington in its video appraisal of the post-lockdown market.
The property market is showing ‘far more resilience than had been expected’
There's been "a strong initial bounce-back in all metrics" since the property market lockdown was lifted on 13th May, reports Rightmove - but 175,000 vendors are "missing the market".
Landlords’ average capital gain sinks again
Landlords who sold a property in 2019 typically owned it for 9.1 years and sold it for £78,100 more than they paid for it.