Real Estate News
Rightmove experts predict that average asking prices will increase by 4% by the end of next year, which, even though the largest growth we’ve predicted since 2021, is in-line with the long-term average.
A significant rebound in British housing prices is expected.
Rightmove’s forecast for a 4% increase in asking prices in 2025 is the biggest since 2021, although it noted that this was “in line with average long-term price growth”.
Interest rate cut for first time since 2020
The Bank of England (BoE) has announced it will reduce the Base Rate to 5% this month, a reduction of 0.25%, and the first cut in four years. The Base Rate had been held at 5.25% since August 2023, after 14 consecutive rises.
JLL Residential Forecasts 2024-2028 update
JLL is updating its house price forecasts for 2024, with the latest projections suggesting a more positive outlook for the market.
Lower value markets are expected to outperform this year as higher mortgage rates persist. As rates improve, we expect London to lead the pack, with growth in both central and Greater London expected to be higher over the five year forecast period.
28 May 2024
Savills discusses brighter forecast for property market
As we enter what is traditionally the most popular time of year to buy and sell a home, it feels like the property market is beginning to warm up just in time for summer.
Underpinned by a slightly better than expected economic performance alongside greater stability in mortgage costs, buyer activity looks to be picking up.
26 May 2024
What does the Spring Budget mean for the housing market?
Chancellor Jeremy Hunt today laid out his Spring Budget. This comes after weeks of rumours around potential changes to stamp duty tax, and the possible launch of a 99% mortgage scheme.
However, while the speech made some announcements related to the housing market, they are measures that are likely to be relevant to only a small number of home-buyers and sellers.
06 March 2024
Residential Market Update March 2023 – Spring Budget Overview
Updated forecasts following the Spring Budget show the UK economy will now not not enter into a technical recession in 2023. However, it is still expected to see a small contraction of 0.2%. At present the UK inflation rate remains stubbornly high, however the Office for Budget Responsibility (OBR) has forecast inflation will fall to 2.9% by year end. Despite economic uncertainty, the labour market continues to rally. Although job vacancies have fallen there still remains over 300,000 more vacancies than there were at the beginning of the Covid pandemic.
17 March 2023
Financing Your First Home: A Comprehensive Guide for First-Time Buyers
At JLL, we understand that purchasing your first home is both an exciting and nerve-wracking process. It’s likely to be the biggest purchase you’ve ever made, and it’s important to get it right. One of the most significant factors in ensuring a successful home purchase is understanding how to finance it. In this guide, we’ll take you through everything you need to know to finance your first home.
03 March 2023
UK Residential Market Set to See Busiest Year in Over a Decade?
This rise is the highest in the past seven years.
Jun 02, 2021
Reuters house prices jump by 10.9% comparing with May 2020
Jun 01, 2021
UK Capital Markets 2020 Review and 2021 Outlook
March 05, 2021
UK Non-resident Stamp Duty
UK Budget 2021: a good news for home buyers
Stamp duty holiday: The winners and the losers
The Salford-based university lecturer reckons the chancellor’s announcement on Wednesday will save her and her husband about £8,000.
“We’re in the middle of buying our £346,000 dream home and have agreed a completion date of 30 July.
8 July 2020
When does the Stamp Duty Holiday ends
Last summer, the government temporarily increased the amount at which stamp duty is paid to £500,000, for property sales in England and Northern Ireland.
The tax break was due to end on 31 March, but Mr Sunak announced in the Budget that it will now end on 30 June.
3 March 2021
Average London house price exceeds £500,000 for first time
The average price of a property in London broke through the £500,000 barrier for the first time, official figures for November show, with pent-up demand from lockdowns, a change in the types of homes being bought and two tax deadlines all fuelling the market.
20 Jan 2021
Rightmove experts predict that average asking prices will increase by 4% by the end of next year, which, even though the largest growth we’ve predicted since 2021, is in-line with the long-term average.
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