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28th April 2017
The number of properties for sale has reached a record low, according to the National Association of Estate Agents. It says there were an average of 39 homes for sale per estate agent branch, compared to 44 in February - the lowest figure the NAEA has recorded for the month of March since it started measuring it in 2002. Annually, supply is down 28%, with ten house hunters currently chasing each available property, NAEA said.
The Times (27/04/2017)
28th April 2017
A survey from Halifax shows that expectations for the property market are subdued. Although 58% of respondents expect prices to climb in the next 12 months, most expect increases of less than 5%, while 14% expect prices to fall and 23% predict values will remain the same. Regionally, those polled were most optimistic about the likelihood of growth in Wales and most pessimistic about London’s chances of seeing values climb.
Daily Mail (21/04/2017)
21st April 2017
Ahead of the London Marathon, the Standard looks at property along the route, noting that prices have more than tripled in value since 2000 to an average of £700,000. However, the figure is skewed by values east of Tower Hill, as the 26-mile course draws to its conclusion on the Mall, where properties in St James’s cost in the region of £1.6m; the ongoing regeneration of the Docklands area has brought with it a number of more affordable sites that are sure to rise in value in the next few years. Canary Wharf remains the jewel in the crown of the region, with One Park Drive the latest in a new wave of luxury skyscrapers on the horizon. Prices at the 58-storey tower, designed by Tate Modern architects Herzon & de Meuron, start at £575,000 for a studio and £1.08m for a two-bedroom apartment. Neighbouring Limehouse (£528,694), Greenwich (£544,899) and Deptford (£418,949) also offer great value, while at Woolwich – soon to enjoy rapid connections to Canary Wharf via the Elizabeth Line – properties can be found for £328,866.
Evening Standard (19/04/2017)
21st April 2017
Uncertainty in the UK property market could now be extended as potential home buyers await the outcome of the snap general election. Yorkshire Building Society economist Andrew McPhillips said: “The housing market is going through a sluggish period at present and a general election adds to the chances of it lasting longer". Jeremy Leaf, former residential chairman of Rics, added: “Inevitably, a lot of decision-making will be put on hold, particularly as the polls fluctuate, and that includes the decision to buy and sell property”.
Daily Mail (19/04/2017) City AM (19/04/2017)
21st April 2017
New data shows house price growth has continued to slow in London, though eight in 10 regions in England and Wales recorded new peak average prices last month. House price growth in Kensington and Chelsea fell at the sharpest rate at 2.6%, while the average house price nationwide rose 0.5%, and 3.3% year-on-year, to £301,278 in March. The region with the highest rate of annual house price growth at 4.8% was the West Midlands.
City AM
21st April 2017
The Times’ Francesca Steele considers the fortunes of London and Paris’ property markets. She notes that in 2014, Parisian house prices dipped by around 5% while those in London rose 15%, according to LonRes data. However, 2016 saw a turnaround, with London seeing price growth at its lowest in six years while Paris saw prices reach their highest level in six years – and the number of sales was up 14% on the year before.
The Times (20/04/2017)