Three key Queen’s Speech commitments Housing featured prominently in the Queen’s Speech on 10 May, with social housing, rental reform and leasehold reform all part of the government’s priorities in the coming twelve months. Of the 38 legislative announcements, there were three significant ones relating to housing: the Social Housing Regulation Bill, the Renters’ Reform […]
Category archives: Residential Property Review
Residential Property Review – April 2022
Supply shortages fail to blunt sales Low availability is once again the key trend in the UK housing market, even as stock levels edge upwards and sales remain strong. In March, estate agents reported a 3.5% monthly rise in the level of stock on their books, according to Zoopla. Moreover, the number of homes coming […]
Residential Property Review – March 2022
Sales up as demand stays strong 2022 has picked up where 2021 left off, with near-record demand leading to the busiest January and February since 2016, according to Zoopla. Sales agreed in February were 31% above the 2017-19 average for the month, according to TwentyCi, matching levels last seen at the start of 2021. Meanwhile, […]
Residential Property Review – February 2022
Promising signs in the UK housing market Following a record-breaking 2021, continuing strong numbers of agreed sales and approved mortgages suggest transactions are likely to stay high over the next few months. Net mortgage debt by individuals decreased slightly to £3.6bn in December 2021, according to the Bank of England. However, agreed sales and approved […]
Residential Property Review – January 2022
Strong end to record-breaking year – but uncertainty ahead As Big Ben’s bongs rang out, a record-breaking year for the residential housing market gave way to an uncertain New Year. Completed transactions to November totalled 1.36 million, which means the number of homes sold in 2021 will reach levels not seen since before the global […]
Residential Property Review – December 2021
Slowing activity but demand remains high New buyer enquiries rose slightly in the Royal Institution of Chartered Surveyors’ (RICS) November survey, with a net balance of +13%, while new instructions fell for the eighth successive month to -18%. The end of the Stamp Duty holiday, among other factors, has contributed to a dip in housing […]
Residential Property Review – November 2021
Spending pledges for housing in Autumn Budget In his Autumn Budget delivered at the end of October, Chancellor Rishi Sunak committed more cash to building new homes on derelict or unused land in England, as part of a £24bn fund earmarked for housing. The plans will see 160,000 greener homes built on brownfield land and […]
Residential Property Review – October 2021
Supply still lagging demand Steady buyer demand and a sixth successive month of net negative new instructions, were the stand-out trends in the September UK Residential Market Survey published by the Royal Institution of Chartered Surveyors (RICS). At the national level, new buyer enquiries had a net balance of zero in September, up from -13% […]
Residential Property Review – September 2021
Signs of solidity in UK housing market After reaching record highs in June, the housing market is now ‘taking a breather‘, according to the Royal Institution of Chartered Surveyors’ (RICS) August survey. New buyer enquiries fell for a second consecutive month, with the latest net balance dropping to -14%. Despite this slip in demand, supply […]
Residential Property Review – August 2021
Transition to eco homes hotting up With climate issues becoming ever more urgent, policymakers and the housing industry are increasingly turning their attention to sustainable property development. Making homes greener will play an important part in the UK’s efforts to achieve net-zero emissions by 2050: new and existing homes together account for 20% of the […]