Tom Bill: UK housing market resilient as wider economy stutters

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Economic data disappoints but UK housing market finds its feet after stamp duty wobble in Q2, reports Knight Frank's head of UK resi research.

Written by

Tom Bill

Head of UK Residential Research at Knight Frank

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.

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Borrowers are currently rolling off relatively favourable two-year fixed-rate deals agreed at the start of 2022, but the pain from higher rates will reduce as the year progresses, writes Knight Frank's…
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Discussions around support for buyers, stamp duty cuts and the Renters Reform Bill are becoming more hypothetical as the general election approaches.
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Buyer demand is running a third above the five-year average in prime London, says Knight Frank's research head, while the supply of homes available to buy is up 16%.