UK Property Market News

For those looking to buy or sell houses, lockdown has put many of the best laid plans on hold. Since lockdown was imposed on the 23rd March, the property market has entered into a period of suspended animation. We don’t know when lockdown will end, nor what the financial and economic collateral damage will be for the UK economy and we certainly don’t know what the ‘new normal’ will be or how long it will have to go on for. So, what do we know? Financial markets, although initially taking fright, have recovered somewhat. Falls of between 10 and 15 per cent across indexes around the world with markets seeming to have stabilised. At least for […]

Enquiries from sellers started rolling in soon after the announcement last night.  London estate agents and housebuilders are reporting a surge in enquiries from buyers after the Government said branches and show homes can reopen and viewings and moves start again from today. The announcement by Housing Secretary Robert Jenrick at 10 o’clock last night caught the industry by surprise but triggered an immediate spike in activity this morning that is expected to gather momentum rapidly. Property search portal Rightmove has already reported a 45 per cent increase in visits this morning compared to this time yesterday, while Guy Gittins, managing director of Chestertons says the phones “have been ringing off the hook”. The lockdown imposed […]

As with any boom and bust scenario, the ongoing coronavirus pandemic has cast a very dark shadow over the UK property market. While officially the UK property sector is still “frozen” there are signs that many building sites are opening again and the sector may well be open for business fairly soon. During the lockdown period there have been signs that long-term property investors are looking towards the UK in anticipation of some interesting deals. Be careful of worst-case scenario predictions It is very easy for the UK press, indeed they have history, to focus on the worst-case scenario predictions for the UK property market. We have seen this in years gone by and no doubt […]

In today’s technology-driven world, activity in the fast-moving UK property market continues behind the scenes. Here’s why investors can use this time to “get their ducks in a row”. Despite a difficult end to the first quarter of 2020, activity has already begun to return to the sector. And while transactions may be carrying on at a much slower pace, people and businesses are finding ways around the barriers to keep the market moving. For many property investors, now is a prime time to continue their property research. According to buying agent Hannah Aykroyd, most property searches take between two and six months. This normally involves extensive research of a location as well as property specifics. […]

After effectively freezing the UK housing market when lockdown was implemented, the government has given the go-ahead for property viewings, moves and in-person valuations in England. However, few expect a quick bounce-back in activity, with safe working protocols adding complexity and cost to proceedings and the extent of the longer-term economic downturn still unclear. Here are some of the key questions investors should be asking about the future of the property market. Are we likely to see a downturn in house prices? The consensus within the property industry is that UK house prices will fall this year, but forecasts vary significantly over how large that decline will be. At the more pessimistic end, the Centre for […]

It took a trip to the Land of Oz to make Dorothy value her home. For the rest of us, it took a global pandemic. During the past two months, our residence — whether that be a mortgage-free house or shared rental flat — has become our entire world: office, restaurant, cinema, gym and shelter, all rolled into one. If we didn’t know the ins and outs of our quarters before, we do now. Many people have developed a more personal understanding of a market that has played a vital role in shaping the British economy for decades. Housing costs in Britain are some of the highest in the world, more than quadrupling since the 1970s. […]