Property Market News
Prime London sees a ‘surprise return of competitive bidding & even a few sealed bids’
But sentiment remains 'fragile' as political uncertainty continues to put the brakes on prime residential property markets, says Savills
British home-owners move just once every 21 years
Property inertia is highest in Kensington & Chelsea, according to Zoopla; homeowners in the Royal Borough stay put for an average of 35.5 years
£1m+ property sales stall after a decade of growth
Just 1% more £1m+ homes were sold in 2018 compared to 2017, ending a ten-year run of growth that saw the number of seven-figure deals escalate by 194%
Market Snapshot: Belgravia bears up amid Brexit challenges
Buyers baulking at the prices in Mayfair and Knightsbridge are seeing a 'good value proposition' in neighbouring Belgravia, reports longstanding local agency Best Gapp, with some notable short-lease activity...
Charting the price of a top 1% home across the UK
'The difference in the cost of the top 1% of homes by region just might come as a surprise,' says Savills' research chief Lucian Cook
Property prices in UK cities have risen by an average of 1.8% in the last year
Housing affordability has improved a bit in the UK's three most expensive cities, reports Zoopla, but getting on the first rung of the housing ladder is still out-of-reach for most
Supply & demand bounce back, but 81% of properties are still selling below asking
'It’s evident that buyers and sellers are no longer waiting for the outcome of Brexit and want to get things moving,' says NAEA chief
Looming global housing slump ‘could cut world growth to a decade low’
Signs of a global house price downturn are already visible, warns Oxford Economics
New home delivery climbs by 13%
The number of EPCs issued across England jumped by 13% in the last year, says Savills, while the number of approved residential planning consents has bounced back
FT: Is now the right time to buy property in London?
The Financial Times does a deep dive to find out if the London property market is really bottoming out
Price declines slow down in London – UK HPI
Average house prices in the UK increased by 1.4% in the 12 months to April 2019, down from 1.6% in March 2019
Cluttons forecasts a ‘rush of supply’ in London, limiting future price growth
'There’s effectively three years’ worth of people who haven’t put their house on the market, creating a "Brexit bottleneck" which will lead to a sharp correction when they do'