UK housing prices increased by 0.9% in November, up from October’s figure of 0.7% which brought the annual increase to 10% according to leading building society Nationwide. The number of housing transactions has already exceeding those of the entire 2020 and are set to exceed 2007’s record number. Whilst inflation and the resultant expectation of rising interest rates will have a cooling effect on the market, leading property group Rightmove has joined other experts in predicted robust growth in 2022. The company expects an average growth of 5% next year with some areas expected to record 7% increases.
Posted by: Kelvin Tayfield, Sat, Dec 4th 2021
According to the latest forecasts released by JLL, London house prices are expected to experience significant growth over the next five years as office workers seek to live close to their places of work again. The real estate company expects the highest increase in 2022 with Greater London expected to see a 6% growth whilst Prime Central London (PCL) should lead the way at 7.5%. This view is supported by fellow specialist Savills who predict an 8% rise for PCL next year. The forecasts are against a backdrop of a continuing supply shortage with only 16,000 new homes to be built next year, a number well short of Greater London Authority’s annual target of 52,000.
Posted by: Kelvin Tayfield, Sat, Nov 27th 2021
Data released by HM Land Registry showed a 2.9% monthly growth for September 2021 raising the annual growth rate to 11.5%. The North West saw the largest growth with a monthly move of 5.3% which saw the annual growth rate increase to a staggering 16.8%! London experienced a monthly fall of 2.9% indicating that it’s a good time to buy given the increase in activity since October. Only the East of England at 9.3% and London at 2.8% experienced growth below double digits for the year.
Posted by: Kelvin Tayfield, Sat, Nov 20th 2021
Recent figures released by the UK Centre for Public Data have revealed that since 2010 foreign ownership of homes in the UK has risen from just 88,000 to 247,000. The highest concentration is in the Central London borough of Westminster which is seeing previously government owned buildings such as the Metropolitan Police Headquarters redeveloped into luxury apartment towers targeting foreign buyers. The highest growth in was seen in Liverpool which saw a fourfold increase over the period as foreigners piled into the buy-to-let market.
Posted by: Kelvin Tayfield, Sat, Nov 13th 2021
After Covid forced a break in 2020, Cityscape Global returns to Dubai and this time it’s at the amazing Expo 2020 site which should see huge numbers of visitors over the three days from 9-11 November. Developers from around the world will be displaying both luxury and investment properties with a number from the UK attending. Downtown International are proud to partner X1 Developments and will be showcasing projects in Manchester and Kent with exclusive incentives for Cityscape Global attendees.
Posted by: Kelvin Tayfield, Sat, Nov 6th 2021