Property Market News
PCL property market recovery ‘held back’ as international buyers stay away
"Unless high net worth foreign investors return in their pre-pandemic numbers, we can expect the market to continue to recover at a slow and steady pace, rather than with a sharp uptick," says Savills
Mortgage lending rises back above pre-pandemic levels
Net borrowing of mortgage debt by individuals increased to £7.4bn in May from £4.2bn in April, according to the Bank of England's Money & Credit data. This is above the pre-pandemic average of £4.3bn
Buyer demand builds in Prime Central London
Property prices dipped in PCL in Q2, reports JLL - but the estate agency has seen a sharp rise in potential buyers registering with its central London offices.
House price growth slows to lowest level since December 2019 – Zoopla
After two years of unprecedented growth, it looks like house price inflation is losing momentum.
The anatomy of a housing market downturn
Property markets "tend to follow a predictable sequence in downturns," says Capital Economics - and the pattern has already started in the UK and USA.
Second homes account for 29% of London property transactions
“Some may frown upon second home owners, but the fact of the matter is that the vast majority are buy-to-let landlords, not high-end homeowners restricting stock availability by purchasing rarely used h…
Demand for prime London property bounces back as top-end buyers return
"We’ve seen a real mark of intent from high-end buyers" in prime London, says estate agency boss, as demand climbs after slow start to the year.
Knight Frank raises property price forecasts as supply stays low
“House price growth is peaking as supply rebuilds and mortgage rates normalise," says Knight Frank's research chief, Tom Bill.
11% of homes listed for sale find a buyer with 14 days
GetAgent reckons some areas are seeing one in every five new property listings find a buyer within a fortnight.
‘No sign from agents that the good times have yet ended’ – Propertymark
Estate agents "continue to report a strong, stable market," says Propertymark, with 78% of sales being agreed above asking price.
Six Years On: UK Vs EU house price growth since the Brexit vote
Average house prices across the EU-27 have increased by 39% since 2016, while the UK has seen 31% growth.
‘Remarkable buyer & seller confidence prevails’ – OnTheMarket
An inevitable rebalancing of supply and demand "will take time", says property portal. Until then, "the ‘new normal’, an elevated version of the pre-pandemic market continues."