UK Property Market News

August 14, 2020

RICS: Stamp duty holiday helping to lift demand

The stamp duty holiday introduced from the 8th July is helping to lift demand, The RICS UK Residential Market Survey suggests. In July a net 75% of surveyors saw a rise in new buyer enquiries, the second month in a row that demand has rebounded significantly. A net 59% also saw instructions rise, up from 41% in June. RICS noted that the stamp duty holiday is having a big impact on demand based on anecdotal evidence. Ross Counsell, chartered surveyor and director at property buyers, Good Move, said: “Today’s RICS statistics reveal the UK housing market gained further momentum last month which showcases the ongoing recovery – something we’re all happy to hear after a turbulent […]
August 18, 2020

UK housing market sees busiest month in ten years

The UK housing market saw £37bn worth of property sales agreed in July, representing the busiest month for home buying since data was first tracked by Rightmove. Rightmove’s weekly sales agreed figure was also up by 60% compared to the same week in 2019, as buyers continue with their home-moving plans. There were unseasonal all-time highs for new seller asking prices in seven regiong, with rising popularity of countryside locations driving prices in places like Devon and Cornwall. Miles Shipside, property expert at Rightmove, said: “More property is coming to market than a year ago in all regions, and at a national level the new supply and heightened demand seem relatively balanced. However, those expressing most […]
August 21, 2020

UK housing market ripe for young property investors after stamp duty cut

A recent spike in buyer enquiries shows how the stamp duty holiday is already boosting the market. Has the government done enough for young property investors? Property investors aged between 18 and 34 are the most likely to take advantage of the government’s recent stamp duty change, new research reveals. According to a survey by FJP Investment, 43% of this age group plan to invest before next April. Across all investor age groups, almost a quarter (24%) intend to buy one or more properties before tax rates change. Data from Rightmove and a number of other property firms and agencies shows that interest in the UK property market has soared in recent weeks. The new temporary […]
August 25, 2020

UK housing market rebound continues into August as demand keeps rising

The snowball effect of the UK housing market reopening in May is still gathering pace. But there’s much more behind the boom than the stamp duty cut, new research reveals. Demand across the property industry is continuing its steep ascent, according to the latest research. Buoyed by the government’s stamp duty cut, low interest rates and a surge of new sellers, buyers are keen to make their move in the sector. Numerous sources show how the UK housing market has been remarkably resilient throughout the coronavirus crisis. The latest index from Nationwide, for example, indicates an annual house price rise of 1.5% in July. Month-on-month, there was a steep increase of 1.7%. HMRC data also shows […]
August 27, 2020

The birth of Build to Rent – how did it become the PRS’s biggest trend?

Before the pandemic struck, Build to Rent (BTR) was undeniably the property market’s fastest-growing trend. Many expect it to recover quickly, too, as returns are solid enough to have nervous institutional investors happily ploughing money into what is seen as something of a safe haven. With commercial, office, retail and industrial all set to suffer as a result of Covid-19, residential’s popularity among pension funds, private equity firms and other major financial players is likely to soar. In a recent three-part series, we explored the investors, developers and property managers driving the BTR boom, while CBRE’s latest research suggests that BTR will bounce back sharply in 2021 and outperform other sectors over the next five years. […]
August 28, 2020

U.K. Housing Market is Strongest in Five Years

Activity in the luxury segment is helping boost new listings and average sales prices, according to Zoopla The U.K. housing market is stronger than it’s been in five years, as people rush to rearrange their living arrangements in the wake of the pandemic, according to a new report. The number of agreed-to sales across Zoopla, one of the country’s major listing sites, is 76% higher than the five-year average, with strong activity at the higher end driving deals in and around London, the website said in a report released Thursday in the U.K. So far, the deepest recession on record has yet to slow home shoppers. Since the British housing market began to reopen in mid-May, […]