Average prices rose more than £2,500 from last month Amid the pound’s value hitting an all-time low, soaring living costs, tax changes—and, of course, shakeups in the government and the death of its longest-reigning monarch—it’s no exaggeration to say the U.K. is facing some economic challenges. Despite all that, the property market is “surprisingly resilient,” according to Rightmove’s...
UK property surveyors expect house prices to keep growing over the next year despite a drop in new buyers because of a continuing lack of supply of homes to buy or rent. The Royal Institution of Chartered Surveyors, whose members appraise properties up for sale, said a balance of 65% of those surveyed recorded price increases in June, down from a high of 78% in April. Over the next year, 37% see...
Among those most at risk are commercial landlords who lost out when shops closed during pandemic The number of UK property companies falling into insolvency has soared in the past few months, as investors who were weakened by the pandemic now face being killed off by rising interest rates. In the first three months of the year, 81 property investment companies fell into insolvency, according to...
According to consultancy firm JLL, last year 190,000 homes were sold, an increase of almost 20 percent compared to 2020. In what was the “best year ever” for the sector, with foreigners buying 11 percent of properties. “Housing was the star sector of real estate in 2021, surpassing all previous levels of activity”, says JLL in a report by ECO. Last year, the JLL estimates that 190,000 homes...