Tag: Savills
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House Prices Have Fallen 13% in Real Terms
While it’s been widely reported that UK house prices have experienced a modest dip of 2.8% in nominal terms since their peak in March 2022, inflation’s role has largely been underplayed. Actually, when adjusted for inflation, house prices have plummeted by a significant 13.4%, according to comprehensive analysis conducted by Savills using the Nationwide house…
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Slump in Demand for London Office Space
The last 20 years have seen the demand for office space in prime global locations reaching a steady climb. However, the landscape has significantly shifted in the wake of the COVID-19 pandemic, with more people working from home and major companies reevaluating their need for physical office spaces. The repercussions are apparent in the substantial…
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Rental Growth Is Slowing
The United Kingdom’s regional rental markets are undergoing various shifts. While growth has been seen in past years, there’s evidence of a slowdown, driven by a variety of factors. Recent reports and industry indices highlight the early signs of declining rental growth. The Declining Pace of Property Rental Growth According to the latest Prime Lettings…
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Prime London Property Outperforms the Rest
According to the Q3 prime market index by Savills, prime London markets are standing strong against rising interest rates, outpacing the mainstream markets. How do the numbers stack up? To put this into perspective, the UK mainstream market experienced a more significant decline of -5.3% in the year leading up to August, as reported by…
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When Can I Afford to Buy a House?
Rapidly rising house prices in London and South East England have made it increasingly challenging for potential buyers, especially first-time homeowners, to keep pace. For many years, as house prices increased, wages remained relatively stagnant. However, recent statistics show that the property market is in flux. As per Nationwide, house prices have declined by 5.3%…
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Scotland Does Well in Prime Property Index – Savill’s
The housing scene in the UK’s prime markets has been witnessing a steady value decrease over the last year. Savills’ quarterly prime residential index reports that these markets, which represent the uppermost 5% to 10% of homes in terms of value, experienced a contraction for four consecutive quarters ending September 2023, leading to an average…
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Easing Mortgage Rates: A Glimmer of Hope for Homebuyers
In the recent times, UK homeowners have been under pressure with the skyrocketing monthly repayments on mortgages, largely due to the rise in interest rates. The mortgage rates hit a painful figure of over 6% for both two- and five-year fixed-rate deals, leaving many to groan under the weight of these repayments. However, there appears…
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Is the Landlord Exodus a Reality?
The UK’s rental property landscape has long been an area of contention and discussion. A landlord exodus, which could see many properties exit the rental market, has been a pressing concern. Property118 considered whether it is as significant as it seems. The Landlord Exodus: Separating Fact from Fiction We’ve often come across headlines about a…
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London House Prices Fell 25% Since Brexit
Since the UK’s decision to leave the European Union in 2016, London’s property prices have been impacted. UBS, a leading investment bank, reports that when accounting for inflation, the capital’s house prices have dropped by 25%. One of the primary reasons for this significant decline is the reticence of wealthy international buyers. Traditionally, London’s premium…
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The Rise of the Over-50s: How They’re Steering UK’s Property Market
In recent times, a notable shift has been observed in the UK’s housing landscape. The pivot? The housing market seems to be increasingly directed by those aged 50 and above. For potential investors or those curious about the property scene, let’s delve into what this means for the market and how it impacts the younger…