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Nov 6, 2024 · Last Wednesday's Budget saw the rate of stamp duty paid on second homes in England rise from 3% to 5% with almost immediate effect. Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements. Breaking news and the top stories from Property Reporter - from mortgages to pensions, it's covered.
All the latest in property news | Property Reporter
5 days ago · 31st October 2024. Convenience is outpacing personality when it comes to buyer preferences, according to new research. Budget 2024: Property industry reaction. 30th October 2024. Budget 2024: Affordable Homes Programme to get £500m top up. 30th October 2024. The spooky street names impacting property values. 28th October 2024.
Fall-throughs and withdrawals see sharp quarterly increase
Oct 11, 2024 · Analysis by Moverly has found that the number of property transactions subject to a fall through has increased by 18.1% on a quarterly basis, but withdrawals remain, by far, the most prevalent problem for the UK housing market. Moverly analysed the number of fall-throughs and withdrawals that have occurred on a quarterly basis between Q1 2023 ...
Higher-value property markets see bigger pre-budget slowdown
Oct 21, 2024 · In the property market, it means needs-driven buyers have become more prevalent. Meanwhile, demand in higher-value and more discretionary markets has dipped. The number of offers made on UK properties below £2 million fell 5% in the year to September, Knight Frank data shows. Meanwhile, the equivalent fall above £5 million was 18%.
Commercial property transactions forecast to dip 20% this year
Nov 4, 2024 · In 2021, £65.8bn worth of commercial real estate changed hands across the UK, up 40.4% compared to 2020. While Alliance Fund estimates that some £53.8bn worth of commercial real estate transactions will still take place in 2022, this would mark an 18.1% drop on levels seen in 2021. The biggest declines in transactional value are expected to ...
Monthly property transactions break 100k barrier for first time …
Oct 9, 2024 · The latest research by estate agent comparison site, GetAgent.co.uk, has shown that whilst market confidence has grown considerably since the Bank of England decided to hold the base rate at 5.25% in September last year, this positivity is only just filtering through with respect to transactional volumes, with the number of monthly sales completing across the UK property market tipping the ...
Autumn budget mustn't undermine housing recovery
Oct 21, 2024 · Next week’s Autumn Budget will be Ms. Reeves’ first major test as she faces a challenging balancing act in an attempt to deliver economic stability and kickstart sustainable growth. The property market is keeping a close eye and hoping it won’t undermine its recovery. Rachel Reeves is preparing the first big outing for HM Treasury’s red ...
House sales at highest levels seen in four years: Zoopla
Oct 28, 2024 · Sustained growth in new sales over 2024 has led to the largest sales pipeline the market has seen for four years. Zoopla’s analysis reveals that there are currently 306,000 homes working their way through the buying process to completion, 62,250 (26%) more than 12 months ago. The total value of these sales has hit £113bn, 30% higher than ...
Gap between asking and sold prices narrows - Property Reporter
Jan 18, 2024 · Across the UK, the average sold price in Q3 2023 stood at £289,907, -21.2% below the average asking price of £367,694. While this remains a significant gap, it is the first time the gap has narrowed rather than expanded since Q4 2022. In London, the gap between asking price and sold price sits at -21.9% having also narrowed for the first time ...
UK housing market optimism boosted by interest rate cut
Aug 6, 2024 · Stevenson concluded: “The recent interest rate cut and improving economic indicators provide a much-needed boost to the UK housing market. With increased market confidence, rising prices, and a more affordable borrowing environment, the outlook for the remainder of 2024 is optimistic." The recent interest rate cut by the Bank of England has ...