PrimeResi.com - Editorial Highlights
A few selected highlights from last month on the journal of prime property, www.PrimeResi.com.
A few selected highlights from last month on the journal of prime property, www.PrimeResi.com.
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NEWS: THE MARKET<br />
Appetite for<br />
Construction:<br />
New house<br />
building starts<br />
up by a fifth<br />
There’s been no<br />
change in the number<br />
of new house<br />
building starts over<br />
the last quarter,<br />
although the number’s<br />
up by nearly a<br />
fifth year-on-year,<br />
according to the<br />
latest Government<br />
stats. Q<br />
The Big<br />
Summer Sale:<br />
Record drop<br />
in August<br />
asking prices<br />
The average asking<br />
price of newly-marketed<br />
property<br />
across England and<br />
Wales is down by<br />
2.9% this month<br />
<strong>com</strong>pared to last,<br />
according to Rightmove.<br />
Q<br />
Resi yields<br />
drop but<br />
investor activity<br />
accelerates<br />
The pace of growth for<br />
residential investments<br />
slowed up in Q2, leaving<br />
capital values 15.9%<br />
up on the year, says<br />
Cluttons. Q<br />
‘The financial<br />
crisis no<br />
longer<br />
dominates<br />
the fortunes<br />
of the prime<br />
London<br />
residential<br />
market’<br />
A looming General<br />
Election and<br />
expectations of an<br />
interest rate rise<br />
have eclipsed the<br />
global economic<br />
meltdown as the<br />
primary factors affecting<br />
the top end<br />
of London’s property<br />
market, says<br />
Knight Frank.Q<br />
London<br />
house prices<br />
have risen<br />
by 19.3% in<br />
the last 12<br />
months -<br />
ONS<br />
While still strong,<br />
the pace of annual<br />
house price growth<br />
in the UK has<br />
dropped a smidge,<br />
from +10.4% in<br />
the year to May<br />
to +10.2% in the<br />
year to June 2014,<br />
according to the<br />
latest batch of stats<br />
from the ONS. Q<br />
Read these stories<br />
and more in full at<br />
www.<strong>PrimeResi</strong>.<strong>com</strong>/news<br />
House price expectations<br />
‘substantially lower’ than<br />
May’s high point<br />
“The price exuberance seen in some corners<br />
of the market is easing,” says Knight<br />
Frank’s Gráinne Gilmore, as the agency’s<br />
monthly House Price Sentiment Index<br />
shows another drop. Q<br />
50% of new applicants made<br />
an offer in July – D&G<br />
There seem to be some pretty motivated<br />
househunters out there this Summer,<br />
with Douglas & Gordon reporting that<br />
nearly half of its new applicants actually<br />
made an offer on a property last month.Q<br />
Caution, Plateau: London’s<br />
new prime sales landscape<br />
There’s been “a distinct change in<br />
attitude on the part of both buyers and<br />
vendors” in prime London through<br />
this year’s second quarter, says Chestertons.Q<br />
London Uberground:<br />
Housing markets along the<br />
‘ginger line’ outperform<br />
One of London’s least-celebrated transport<br />
links – the ‘ginger line’ – has actually<br />
had a profound effect on the property<br />
markets it passes through, according to<br />
Hamptons International. Q<br />
Graph by Knight Frank<br />
p.4<br />
this is just a small selection of highlights from August’s news on <strong>PrimeResi</strong>.<strong>com</strong><br />
read the full stories here: www.primeresi.<strong>com</strong>/the-market
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