Property Market News
The Million Pound Street Drop: The number of £1m+ addresses in the UK has fallen by 10% in the last year
There are now 15,484 streets with an average property price in excess of £1m, says Zoopla; 1,805 fewer than the 17,289 recorded at the same time last year.
‘Best Scottish housing market since the financial crisis’ as £1m+ deals fly
More £1m+ residential deals have gone through in Scotland in the last 12 months than in any year since 2008, says Savills
Summer’s ‘steady rather than spectacular’ market is ‘reassuring’ – Garrington
"It seems to have been a steady, rather than spectacular summer as far as the UK property market is concerned," reports buying agency Garrington in its September market update
Autumn sales market bounce ‘could be missed altogether’ as buyers continue to hesitate
Asking prices fail to rise in September for the first time in eight years, reports Rightmove
‘Ominous’ signs for the lettings market as the ‘never-ending Brexit saga’ curbs sales – RICS
There's a "consistent imbalance" between tenant demand and rental supply, warn surveyors, while Brexit-based uncertainty is continuing to thwart activity in the sales market
Is now the right time to buy in London?
There's been "no crash, no fire sales and no mass exodus from London", despite three years of catastrophising by "so-called 'experts'", writes Islay Robinson, CEO of global mortgage firm Enness.
Price corrections boost prime London buying activity
Cluttons saw a 30% jump in new buyer enquiries from Q1 to Q2 this year - but has downgraded its price forecasts in Prime Central London
Property transactions in Kensington & Chelsea have tumbled by 42% since the EU Referendum
London's prime boroughs have been hardest hit by a dramatic fall in property sales since June 2016
Price declines moderate in PCL as supply & demand diverge
Sales Market Snapshot: 29% more new prospective buyers registered with Knight Frank in Prime Central London in the first half of this year, while the number of new £1m+ listings fell by 25%
Super-prime rentals jump as discretionary vendors opt to let
Rental Market Snapshot: Knight Frank reports a 22% jump in the number of would-be tenants across prime London, with no corresponding rise in supply
Prime new-build construction collapses in London, but sales pick up
45% fewer prime new-build homes started construction in London in Q2 this year compared to 2018, report Savills and Molior
Watch: Property price inflation in key UK cities since 1995
The average UK house price has risen by 318% since 1995, with some locations out- or under-performing that to a quite significant degree..