Property Market News
Lettings supply improves, but not enough to quell rising rents
Estate agents have seen rental stock levels climb steadily since February - but "this barely scratches the surface on what is needed in order to limit the ever-widening gap between supply and demand,"…
Property market moves ‘back to normal’ as Summer heat cools – Propertymark
Another market index tells of slowing buyer demand and less pressure on house prices.
Transaction numbers tumble from last year’s high
HMRC recorded 55% fewer residential property sales in June this year compared to last; it's the slowest June in nine years.
Vendors are now achieving 99.4% of asking price, on average
More property sellers are getting closer to their asking price now than last year, with 41% of postcodes seeing the average deal being done at or above asking.
Talking Heads: How fast will the property market slow?
"There is no doubt that there is a cool breeze blowing in the London market,” says Roarie Scarisbrick of buying agency Property Vision - but the consensus amongst 21 prime property pundits canvassed…
Annual house price growth climbs to +12.8% – UK HPI
The latest official house price index tells of a 1.2% monthly increase for the average UK home in May, up from a 0.4% rise in the same period last year.
Mapped: Areas with the highest (& lowest) daily property price growth since the start of the pandemic
Zoopla estimates that the average UK home has seen its value climb by £48 every day since March 2020 - but some areas have seen significantly higher growth of up £106, while the value of many London…
Prime country house price growth cools sharply as supply improves
Britain's country house market "is normalising" after a two-year pandemic-driven boom, suggests Knight Frank as price growth peaks.
BoE Governor warns of bigger interest rate jump next month
"There are no ifs or buts in our commitment to the 2% inflation target,” said Andrew Bailey, as he confirmed a 0.5% base rate hike is "on the table" for August.
Resi investment set to breach £4.4bn record high this year
CBRE is forecasting 8% growth for average UK house prices through 2022, with any downturn in buying activity likely to take time to filter through to prices.
Buyers & sellers ‘remain confident’ about housing market prospects
We're in a "new normal" property market, says OnTheMarket - "an elevated version of the pre-pandemic market."
Rightmove raises house price forecast as property market ‘cools from boil to simmer’
Property portal expects the average UK asking price to end 2022 some 7% higher than it started the year.