“How is the property market doing?” is a challenging question to answer these days. There are times when the answer can be summarised in one word, however there are many different facets to consider now – another example of why getting tailored advise your circumstances is key.
Read MoreThe results are in – labour has won the election after the 14 years of conservative leadership. Prior to the election, the market proved to be resilient despite the uncertainty of a change in government. There were some buyers who decided to hold off until the result, so there is an expectation that the rest of the summer and autumn should be busier.
Read MoreIt’s looking like the UK will have a labour government after the election on July 4th, which would be the first change in government in 14 years. This election was supposed to be in November, however Rishi Sunak called for an early election.
Read MoreSpring tends to be a good time of the year for the London property market and this year is no exception. Perhaps the key headline came from Savills, who were initially predicting the average price of UK homes to fall by 3%, however they have now changed that to rise by 2.5% as inflation and interest rates stabilize.
Read MoreIf you’re up to date with London property news, the chances are you’ve seen mixed headlines over the last few weeks. However, there are a few key indicators that the market is starting to strengthen – price premiums have increased, homes are selling quicker and there has been growth in demand for mortgages.
Read MoreThe focus of this monthly update will be the spring budget announced by the Chancellor of the UK last week. While there were no drastic changes in terms of the property industry, there were a few key points that this update will focus on; a change in capital gains tax, the removal of stamp duty relief on multiple dwellings, and the abolishment of the non-dom status.
Read MoreI would like to start the market update a bit differently this month. We will get to how the market has performed; however, the first topic will be with the importance of using a property buying advisor who understands the market.
Read MoreThe London property market started the year with welcomed news – a high likelihood that the Bank of England will make its first cut to interest rates in the first half of the year. This has had a positive effect on market predictions for the year, which I will explain further in the update.
Read More2023 proved to be a challenging year for the UK property market due to very high inflation rates, with transaction rates down 23% compared to last year. Despite this, 2023 has been our company’s best year to date. Getting the right advise in a softer market or in a booming market is essential – our goal for our clients is to give them the confidence that they are buying a best-in-class home that will always be sought after.
Read MoreDespite the dramatic predictions of property price falls when the interest rates started going up, the market has proven to be resilient yet again, with property prices rising by 0.9 percent from September to October.
Read MoreOctober is proving to be another challenging month for sellers, with prices last month dropping by 3.1% in prime postcodes when comparing to a year ago, however it’s important to analyse these numbers in a wider context. Last year was a record year, so although the market has softened since then, it is still performing better than it was pre covid as this update will demonstrate.
Read MoreThe challenge of these monthly updates is reporting on the conditions of a market that is very fragmented. In general, we are experiencing a softening of the sales market, with average asking prices in London down by 1.5% this month.
Read MoreDespite the drastic headlines, the reality is that the London property market is experiencing a cool down, rather than a crash.
Read MoreAs August is around the corner, the market is likely to slow down as families go on their holidays. August is usually a quite month, with more stock usually coming in September. According to the selling agents that I have been dealing with, viewing numbers are down, however there are fewer window shoppers and more serious buyers.
Read MoreAs we entered 2023, we were faced with drastic forecasts of a property price crash this year. The market has proven to be resilient, so the drastic forecasts never came to light. There are however, two markets that are performing very differently.
Read MoreAs a buying advisor, the question I get asked the most is “how is the property market”? At the moment it’s a difficult question, because there isn’t one clear answer. The London market is very fragmented – there are so many markets within the capital, each one performing differently.
Read MoreMarch proved to be another robust month for the prime central London market (PCL). Again, despite dramatic headlines, prices are only down 1.4% year on year, however they remain 3.3% higher than 2019 (pre-pandemic). There is significantly more activity in the market in comparison to the last quarter of 2022. According to Knight Frank, offers accepted are up 30% and exchanges are up 8%.
Read More2023 is set to be an interesting year for the London property market as the UK faces a cost-of-living challenge and higher interest rates. There’s a constant flow of relatively negative news regarding house prices, leaving a lot of potential house buyers wondering is now the right time to buy.
Read MoreWhat a year it has been for the London property market – much like the state of UK politics, it’s been full of twists and turns. It started out as a record year, with January setting the record of the as the liveliest start of the year ever for new buyers registering with agencies and house owners requesting valuations
Read MoreIt’s been a quiet month for London property sales. Prices have fallen by 1.1% in the UK, which is in line with the 1.1% fall this time of year which has historically been recorded in the country.
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