Edinburgh is once again the fastest growing city (8%), with Liverpool, Leicester, Birmingham and Manchester all registering growth above 7% per annum.
Ten cities are growing at a slower rate than this time a year ago, with the greatest slowdowns in Bristol, Southampton and London.
The headline rate of growth across London has slowed to just 1%, down from 4.3% a year ago. This is the lowest annual rate of growth in the capital since August 2011.
The latest results confirm our view that house prices in London are set to drift lower in the next 2-3 years. In contrast, house price growth remains robust in the largest regional cities, where similar analysis of these markets reveals no evidence of localised price falls.
42% of postcodes in London are registering year on year price falls; the current number of markets registering negative growth in the capital is the highest since the global financial crisis. The remaining 58% of postcodes are still showing positive growth.
Sales volumes are the first to be hit when demand weakens, and housing turnover across London is down 17% since 2014. The time it’s taking to sell properties is increasing across the whole of the city, with the weakest market conditions showing across inner London.
Nigel Lewis looks at the impact of stamp duty, mortgage and capital gains tax changes in the Spring 2021 Budget for estate agents
Starting 21 December, we’ll be making the most of the seasonal uplift with a new ten-week national campaign targeting existing homeowners.
Valuing properties aggressively to gain instructions is a well-known tactic used by many estate agents and is a hotly debated topic within the industry, but does it work?
As the industry professionalises, what should estate and letting agents be doing to prepare for minimum qualification requirements?
In the last eight years, the growth of first time buyers has outpaced all other buying groups and in 2018 they became the largest buyer group in the UK.