Tag: Benham and Reeves
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Crossrail Boosts London Property Prices Amid Market Downturn
The London property market has faced significant challenges, marked by a general decline in house prices across the capital. However, properties adjacent to the newly operational Crossrail stations are defying this downward trend, showing notable price growth. This phenomenon has been highlighted by Benham and Reeves, a well-known estate agency, as a key resilient factor…
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London Leads UK’s Rent Rise
London is now the frontrunner in the UK’s rental market, with record-breaking increases over the past year. However, it’s not just the capital feeling the heat; Scotland is also witnessing significant hikes in rental costs. According to the latest figures from Benham and Reeves, a leading lettings agent, rents in London have surged by an…
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Quiet Streets, Pricey Homes – London’s LTNs Drive Up Property Values
In London, a move towards quieter, less congested residential areas is boosting property prices but causing headaches for nearby road users. The introduction of Low Traffic Neighbourhoods (LTNs) has sparked a mix of enthusiasm and frustration among Londoners, with significant impacts on local housing markets. Low Traffic Neighbourhoods (LTNs) are designed to reduce traffic in…
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London Rental Market – More Properties Available
London has seen a significant increase in the availability of rental properties. Data released by real estate agency Benham & Reeves highlights a 34.7% increase in rental homes within Greater London. This year, the number of rental listings surged to 45,200 in the first quarter, up from 33,562 in the previous year. The increase in…
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London’s Booming Boroughs – Hotspots Where Homebuyers Hustle
The property market in London is heating up, with certain boroughs experiencing a remarkable surge in interest from prospective homebuyers. Dulwich, a charming area in south London, has become a magnet for younger buyers eager to own their first homes. According to Foxtons, Dulwich has witnessed a staggering 153% increase in buyer enquiries compared to…
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House Prices Dip Again – UK Buyers and Sellers Adjust to Market Realities
In the last quarter of 2023, the UK housing market continued to experience a slowdown, with house prices falling by 0.6%. This decrease marks the second consecutive quarter of negative growth, impacting both the broader UK and specifically London markets, according to the latest Property Market Index Review from Benham and Reeves. Adjusting Expectations Amid…
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London Housing Market – Prices Climb in the Capital!
The London housing market has shown a robust increase, with some areas witnessing a 5.6 percent leap in asking prices. This news might leave many Londoners wondering how their borough stacks up in the latest housing price evolution. According to the newest figures from Rightmove’s house price index, the average asking price for a London…
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6 London Areas Where House Prices Rose Last Year
Last year, London felt the brunt of the UK’s economic shifts more than any other region. A staggering 27 of its 33 local authority areas saw house prices fall, a stark contrast to the overall UK trend. On average, London homes lost 5.2% of their value, a decline that translated to nearly £27,674 off the…
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England’s Property Market Sprang Back in Late 2023
As 2023 drew to a close, the property market in England witnessed a remarkable upswing. In the final quarter of the year, the number of homes listed online and marked as ‘sold subject to contract’ (SSTC) leaped by 7%. That’s a staggering 277,115 homes changing hands, or in simpler terms, about 18,000 more eager homeowners…
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House Prices Up 1.7% but Predicted to Drop
The UK’s largest mortgage lender, Halifax, has reported a continuous rise in house prices for the past three months. In December, there was a 1.1% increase, following a 0.6% rise in November and a 1.2% hike in October. As a result, the average UK home now stands at a value of £287,105, which is £3,000…