Sales of homes worth £2 million or more are rising – and most are in just four upmarket neighbourhoods of London.
Just over half of all multimillion pound home sales last year were in swish Kensington, Chelsea, Westminster or Camden, while 76% (1,161) of £2 million plus sales were in London. Continue reading Luxury home sales hit new high as rest of market falters
House sales are expected to slump to a 40-year low with no expectation of the market improving next year.
Property market analysts Hometrack predict around 840,000 home sales for the year – down 50% on the housing bubble peak of four years ago.
Continue reading House Sales Tumble to a 40 Year Low
London is still blazing the way from property prices with homes increasing in value by an average 2.7% over the past year, according to the latest Land Registry figures.
The capital is the only place in the country where prices are rising – with the average drop for the rest of England and Wales hitting 2.6%.
This adds up to just over a 5% price gap for a similar house outside London compared to in the city. Continue reading London Property Prices are Still Rising, says Land Registry
Homes under the hammer are still knocking up strong sales with almost 2,500 properties changing hands for £282 million.
Around 70% of all homes up for auction were sold, according to the latest UK auction statistics for September from EI Group.
The number of lots sold were up from 3,450 (3.8%) on a year ago, while the total cash raised was up 11.3% from £254 million. Continue reading Auction Homes Still Selling at 30% Below Market Value
How reliable is house price data?
How a house is really valued is the subject of a seemingly never ending debate raging between economists, estate agents, surveyors and property professionals.
The final figure is not that important to anyone other than a property investor or buy to let landlord looking to buy, sell or remortgage. Continue reading Do estate agents really know the price of a house?