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In August's property market update, Richard Donnell discusses trends in house price growth across UK cities, growth in the London property market and economic factors that influence the UK property market.
The topics explore in this month's monthly property market update video include:
1. House price growth variation across UK cities
2. Growth in the London market
3. The impact of the increase interest rates announced by the Bank of England
4. The impact the global financial crisis of 2008 has had over the last decade
The residential sector has made a remarkable recovery from Covid, but the rental market has been left divided. Demand is generally strong, rental growth is positive and increasing in markets outside of London, but rents within the capital are falling.
In the last eight years, the growth of first time buyers has outpaced all other buying groups and in 2018 they became the largest buyer group in the UK.
With house prices in London leading the rest of the housing market, we've seen price falls across regional markets. This report shows the extent to which the recent trends in London have shifted into regional markets and the outlook.
In July's property market update, Richard Donnell discusses the variation in price growth across UK cities, London market trends and the discount from asking to sales price regionally.