{"id":5552,"date":"2022-04-26T10:45:51","date_gmt":"2022-04-26T09:45:51","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/04\/26\/residential-property-review-april-2022\/"},"modified":"2022-04-26T10:51:54","modified_gmt":"2022-04-26T09:51:54","slug":"residential-property-review-april-2022","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/04\/26\/residential-property-review-april-2022\/","title":{"rendered":"Residential Property Review \u2013 April 2022"},"content":{"rendered":"
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Supply shortages fail to blunt sales<\/strong><\/p>\n<\/div>\n\n

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Low availability is once again the key trend in the UK\nhousing market, even as stock levels edge upwards and sales remain strong.<\/strong><\/p>\n<\/div>\n\n

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In March, estate agents reported a 3.5% monthly rise in the\nlevel of stock on their books, according to Zoopla. Moreover, the number of\nhomes coming to market has exceeded new sales since January, according to\nTwentyCi.<\/p>\n<\/div>\n\n

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The low availability of stock has not managed to stem the\nflow of sales; Savills report that completions in February were 17% above the\n2017-19 average. Looking ahead, the number of sales agreed is also strong, about\n15% higher than the 2017-19 average.<\/p>\n<\/div>\n\n

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However, the imbalance between supply and demand, which has\ncharacterised the market since the pandemic, has not yet steadied, with\nwarnings that the faint signs of new supply are unlikely to meet the required\nhigh levels of demand any time soon.<\/p>\n<\/div>\n\n

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Soaring rents as Scotland catches up<\/strong><\/p>\n<\/div>\n\n

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Rents in Scotland rose year-on-year by 2.6% in February 2022,\nhigher than the corresponding figures for England (2.1%) and Wales (1.4%), new\nmarket analysis by DJ Alexander Ltd has revealed.<\/strong><\/p>\n<\/div>\n\n

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After years of slower growth, the Scottish annual rate has\noutpaced the English and Welsh rises every month since July 2021. Longer term, however,\nScotland still lags its UK counterparts since 2015.<\/p>\n<\/div>\n\n

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A separate survey corroborates the trend. Scotland recorded\nthe largest annual variance in the year to March 2022, according to market\nanalysis from HomeLet. The rise of 12.9% pushed the average rent in Scotland up\nto \u00a3770 per month.<\/p>\n<\/div>\n\n

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David Alexander, chief executive officer of DJ Alexander\nScotland, commented, \u201cThe current increases in rents across Scotland\nreflects growing demand but is also a sign that the market is correcting itself\u2026\ncurrent increases are simply a sign of Scotland catching up.\u201d<\/em><\/p>\n<\/div>\n\n

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Housing hotspots create fierce competition<\/strong><\/p>\n<\/div>\n\n

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With demand still outpacing supply, many buyers are\nfacing fierce competition in their hunt for the ideal home. <\/strong><\/p>\n<\/div>\n\n

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Some in-demand locations are seeing more than twice as many\nbuyer enquiries for every property than this time last year, according to\nRightmove.<\/p>\n<\/div>\n\n

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Hotspots include Shirley in Solihull, where the number of\nenquiries about each home for sale is 143% higher than the same period last\nyear. The town appeals to buyers owing to a high number of outstanding schools\nand its road links to Birmingham and Stratford.<\/p>\n<\/div>\n\n

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Good transport links and excellent schools are common\nfeatures across the hotspots. Jesmond, a suburb of Newcastle-Upon-Tyne, combines\nboth, as well as many properties in conservation areas and has seen buyer\nenquiries shoot up by 141% compared to 2021.<\/p>\n<\/div>\n\n

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Chorlton-cum-Hardy in Greater Manchester (+138%) and Balham in London (+113%) are two more hotspots with surging demand. On average, Rightmove estimates that this competition has pushed asking prices in the hotspots up by 11% in a year.<\/p>\n<\/div>\n\n

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It is important to take professional advice before making any\ndecision relating to your personal finances. Information within this document\nis based on our current understanding and can be subject to change without\nnotice and the accuracy and completeness of the information cannot be\nguaranteed. It does not provide individual tailored investment advice and is\nfor guidance only. Some rules may vary in different parts of the UK. We cannot\nassume legal liability for any errors or omissions it might contain. Levels and\nbases of, and reliefs from, taxation are those currently applying or proposed\nand are subject to change; their value depends on the individual circumstances\nof the investor. No part of this document may be reproduced in any manner\nwithout prior permission.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":12,"featured_media":5554,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,37],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5552"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=5552"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5552\/revisions"}],"predecessor-version":[{"id":5568,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5552\/revisions\/5568"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/5554"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=5552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=5552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=5552"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=5552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}