Tag: JLL
-
ONS Reports Dip in UK House Prices
The UK property market has recently experienced a noteworthy shift, with house prices witnessing their first annual fall since April 2012, according to the latest data from the Office for National Statistics (ONS). House prices fell by 0.1% in the 12 months leading up to September. This slight decrease marks a significant change from the…
-
Rightmove Reports £6k House Price Fall
According to Rightmove, asking prices for newly-listed homes have decreased by 1.7% this month. This reduction represents a significant average fall of £6,088 in November compared to October, marking the most considerable drop for this month since 2018. Seasonal Trends and Market Adjustments It’s typical for asking prices to decline around this time of year.…
-
House Price Falls Until 2025 Forecast
Despite the economic headwinds faced by the UK, including rising interest rates and the increased cost of living, the housing market has shown remarkable resilience. According to JLL, although there is an expected decline in house prices, the downturn is projected to be less severe than the one experienced during the 2008 global financial crisis.…
-
London’s Rental Surge: The Crossrail Effect
The London rental market has witnessed a surge over the past year, with average rents rising by 12.5%. This uptick has been attributed to a variety of factors, but the most significant seems to be the pronounced shortage of available rental properties. Interestingly, properties adjacent to the Crossrail line have outperformed the city’s average, boasting…
-
London’s Record-Breaking Rents
Rents in London have reached record-breaking levels, surpassing those in other parts of the UK and even outpacing many European capitals. In fact, property agents Savills report that London rents increased by a significant 20% between March 2020 and May 2023. The median cost of a studio in Greater London now stands at £1,275 per…
-
Londoners Knock £23k Off Asking Prices
Homeowners in London have been forced to reduce their property asking prices by an average of £23,500, as soaring mortgage costs have hit the capital harder than any other region in the UK. According to data from Rightmove, asking prices in London have dropped by 3.4% since they peaked in May. Mortgage rates have tripled…
-
First GPT Model for Commercial Property
JLL, a leading company in commercial real estate (CRE), has launched a new tool called JLL GPT™. Think of this as a super-smart assistant created specifically for the property business, helping JLL’s massive workforce of over 103,000 people worldwide. Now, let’s break down what this means for investors and the industry as a whole: In…