Tag: Knight Frank
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Japan’s Property Market: The New Gold Rush for Investors
For many, Japan has always been a captivating destination renowned for its rich history, enticing cuisine, and breathtaking landscapes. Traditionally, tourists would come to immerse themselves in its culture, only to leave with memories. However, the FT reports that 2023 presents a different picture. Japan, it seems, has become a hotbed for international property investments.…
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Mortgage Approvals Fell in August
In August, a noticeable dip was observed in UK mortgage approvals, as they fell to their lowest in the past six months. According to data from the Bank of England, net mortgage approvals for house purchases went down from 49,500 in July to 45,400 in August. To provide a broader perspective, this is a decline…
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Mortgage Rates Dive Below 6%
It’s good news for homeowners and prospective buyers: the average five-year fixed mortgage rate has just gone below the 6% mark. This marks a decrease from 6.03% just the previous day, as reported by the reputable financial information service, Moneyfacts. But why is this significant? Well, to put it into perspective, one has to travel…
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The Race Against Energy Standards: England’s Housebuilding Surge
Recent official data reveals a significant leap in housebuilding during Q2 2023 in England. Specifically, the number of new construction projects rose to 67,600 between April and June, marking a staggering 75% growth from the previous quarter. When compared to the same period in 2022, the increase is still noteworthy at one-third. The reason for…
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ONS House Prices – Expert Reactions
The Office for National Statistics (ONS) revealed their latest House Price Index yesterday. Property Industry Eye has a round-up of experts’ reactions to the latest figures. The ONS data showed: It’s essential to understand that the ONS’s house price data relies heavily on Land Registry data. Since this index depends on the average sold price…
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The London Boroughs with Biggest Price Drops
London’s property market, always bustling, is entering its “key selling season”. Traditionally, autumn months signify an increase in activity, often characterised by more listings and, sometimes, more aggressive pricing. Yet, this year paints a slightly different picture. Based on the fresh data from the Rightmove’s House Price Index, the overall monthly seller asking price has…
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International Investors Still Support Prime Central London Market
For decades, London’s property market has been a major attraction for foreign investors. The capital city offers a unique blend of world-class education, rich cultural experiences, verdant spaces, and historic architecture, making it a compelling destination for investment. As an indicator of its global appeal, recent statistics revealed that a whopping 57% of property purchases…
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Rightmove House Price Report – Industry Reactions
Recent findings from Rightmove have shown that vendors (those selling properties) are cutting their asking prices at the quickest pace we’ve seen in over ten years. This action is a response to the sharp rise in interest rates, which has weakened the property demand this summer. Of the homes currently listed on the market: Voices…
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More Sellers are Cutting Asking Prices
In the UK, the rate at which house sellers are reducing their asking prices has hit its quickest pace in over a decade. According to Rightmove, the property listing site, the proportion of homes receiving at least one price reduction has soared to its highest since January 2011. The numbers? A significant 36% of homes…
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Luxury Property not Immune from the Slump
Recent findings from the Knight Frank Global Super-Prime Intelligence Report have cast an intriguing spotlight on the current state of the luxury property sector, offering key insights that both seasoned investors and novices can learn from. The Bigger Picture: Global Property Transactions in Flux Knight Frank’s comprehensive study focuses on global super-prime property transactions, specifically…