Year-on-year sales data shows increase in demand and signals ‘buoyant’ market
TwentyEA’s analysis of the property market in Q2 shows a 7% year-on-year rise in demand. The property tech’s CEO warns ‘systemic issues’ may yet lead to a cool-off, but others believe the market will remain ‘buoyant’. The report, which is based on factual and real-time property sales data, shows that demand, supply and sales are […]
RICS remains cautious despite ‘encouraging’ signs of market stabilisation
The Royal Institute of Chartered Surveyors UK Residential Survey for June paints a positive picture of demand – although RICS remains cautious despite ‘encouraging’ signs of stabilisation in the market. The monthly sentiment survey of chartered surveyors operating in the residential sales market shows a new buyer enquiries measure of +3 – the first positive […]
Demand picks up as housing market boosted by relaxed affordability assessments
The Halifax has helped 3,000 extra buyers to market thanks to relaxed affordability assessments, with around a third of those now able to access mortgages first-time buyers. ‘The market’s resilience continues to stand out and, after a brief slowdown following the spring stamp duty changes, mortgage approvals and property transactions have both picked up, with […]
BoE credit survey shows increase in mortgage demand
The latest Credit Conditions Survey from the Bank of England shows an increase in demand for secured lending for both house purchase and remortgaging in Q2. Lenders said they expect the demand for remortgaging to continue into Q3, but expected demand for house purchase borrowing to decrease. The survey is based on changes reported by […]
What does modernising property transactions really mean for conveyancers?
The government’s pledge to modernise the home moving process has captured industry attention but what does it really mean for conveyancers, and how will it impact day-to-day legal practice? For many conveyancers, change can feel like something detached from the practicalities of daily caseloads and an unwelcome distraction. But as digital transformation of property transactions […]
‘A market firing on all cylinders’ – response to Nationwide price index
Nationwide’s House Price Index for June shows a slight slowing of growth, at 2.1% compared to 3.5% in May. The building society said the dip could be due to weaker demand – but property experts disagree, with one saying the figures are a sign of ‘a market firing on all cylinders’. Although chief economist Robert […]
Propertymark viewing numbers rise slightly in ‘encouraging’ report
Propertymark’s latest insight report shows a slight rise in the number of viewings reported by member branches, up to three in May from 2.3 in April. CEO Nathan Emerson called the figures ‘encouraging’ and said they show ‘impressive resilience within the housing sector’. Elsewhere in the report, numbers remained broadly static or in slight decline, […]
The thriving hyper-local housing markets bucking the national trend
Analysis from estate agent platform eXp UK has found strong demand in several ‘thriving’ hyper-local markets, which the company says is bucking the trend seen across the rest of the country. The analysis shows that house prices across England are now down 0.9% since the start of the year, with several regions seeing more significant […]
Bank of England mortgage data adds to positive signs of future demand
Data released by the Bank of England shows that mortgage approvals for house purchases increased by 2,4000 to 63,000 in May – the first increase since December 2024. Re-mortgage approvals also increased, up by 6,200 to 41,500. Property industry experts reacted positively to the indicator of future demand – however some commentators from the finance […]
Remortgage instructions up as ‘positive sentiment grows’
The monthly remortgage snapshot from LMS shows a 12% increase in new instructions in May, which LMS CEO Nick Chadbourne attributes to positive sentiment across the sector. Almost half of remortgagers (45%) increased their total loan size, with 23% reducing the loan and 32% seeing no change. The impact on monthly payments was an increase […]
HMRC transaction data up 25% since April: ‘The return of genuine, underlying demand’
HMRC’s May transaction data suggests last month’s optimism in the face of a steep decline was justified, with the seasonally adjusted figures showing a 25% rise since April. But while the news has been welcomed by industry commentators, some are warning the market hasn’t fully recovered just yet. While May represents a healthy month-on-month increase, […]
Surge in choice for homebuyers leads to ‘fastest sales activity for years’
Zoopla’s latest report on the state of the housing market reveals sales activity is running at its fastest rate for four years, with a 6% increase in sales agreed for the month compared to the same time last year. With a 14% increase in the number of homes currently on the market, the resulting surge […]
Two-thirds of housing transactions now under 17 weeks – Propertymark
Propertymark’s latest housing insight report reveals a ‘welcome drop’ in housing transactions that take over 17 weeks, with just 32% of the agents surveyed reporting transactions that pass the 17 week mark. The report, which is based on responses to a monthly survey of Propertymark member agents, notes that the figure indicates a trend towards […]
ONS house price inflation figures are sign of market rebalancing – ‘demand remains strong’
UK annual house price inflation slowed in April, for the first time since December 2023. Average UK house prices increased by 3.5% in the 12 months to April 2025 – down from 7.0% in the 12 months to March. The Office for National Statistics (ONS) attributes the fall to the stamp duty changes, and said […]
Number of £1 million homes for sale doubles since 2019
New analysis from Rightmove shows that the number of homes for sale priced at £1 million or more has doubled (+103%) across Great Britain over the last six years. Just over 5% of homes for sale are now priced at over £1 million, versus just under 3% in 2019. The analysis, which looked at homes […]
Demand is up and buyer choice is at a 10-year high, says Rightmove
Rightmove’s latest House Price Index shows a 3% increase in buyer demand compared to this time last year, along with a decade-high level of homes for sale. Data from the largest monthly sample of housing market activity reveals a ‘resilient’ buyer picture, with the highest number of sales agreed since March 2022 – 6% higher […]
Buyer demand ‘struggling for momentum’ but stable picture is emerging – RICS
The Royal Institution of Chartered Surveyors (RICS) UK Residential Survey for May reveals a subdued housing market, with buyer demand and agreed sales still struggling for momentum but near-term expectations looking more stable. Although indicators on buyer demand remain negative for the fifth consecutive month, with a net balance of -26% of survey participants reporting […]
Bank of England mortgage figures reveal ‘nuanced market’ with ongoing pressures
The Mortgage Lenders and Administrators Statistics from the Bank of England reveal the total value of gross mortgage advances in Q1 increased by 12.8% from the previous quarter – up to £77.6 billion, the highest for new advances since 2022 Q4 and 50.4% higher than a year earlier. New mortgage commitments (agreed lending yet to […]
Market resilience will continue in coming months – Halifax
The resilience of the housing market in the face of affordability challenges and an uncertain economic backdrop is set to continue, according to Halifax’s head of mortgages. Commenting on the release of the Halifax House Price Index for May, Amanda Bryden said the market appears to have absorbed the surge in activity driven by changes […]
Newbuilds falling out of favour with first-time buyers
Only 8% of first-time buyers in the UK are opting for newbuild homes, in a steady decline since 2022 when the new properties were favoured by 10% of new homeowners. According to data from CompareMyMove, only Scotland has seen an increase in popularity for brand new homes within the last year, with a 2.43% rise […]