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Every month different property price indices give their view on what is happening in the property market. The reason it’s important to understand these headlines, is that they will influence what the newspapers and media say is happening – and for those that don’t know the real story behind the numbers, it can affect whether they buy or sell property, which in turn impacts on the price you will pay or receive. For investors, it also lets you know whether you are likely to get a good deal OR end up overpaying for a property which is often a ‘death knell’ for making money. Read my article to find out what's really happening to property prices.
The consistent view running through this month’s indices is that there is little supply for buyers to choose from, but for those that are selling, there are deals to be done as the NAEA point out. Rightmove report there are "fewer new sellers than in the same period a year ago… the largest year-on-year slump in any month since August 2009” and Home.co.uk suggest that “Zoopla listings’ data shows that the number of new homes listed for sale per agency branch this year is lower than over the last four years”. A tough market therefore for buyers looking to purchase and indeed for the industry - who will no doubt be hoping the election will allow some certainty on how the country will move forward, and this will result in an early uptick in activity in 2020, rather than uncertainty and a slow market. To find out more, read Kate Faulkner's latest comprehensive price report.
Although a little later than planned, the property pundits have been working their magic to help inform us of what might happen in 2020 and in some cases, over the next five years. Read the article to find out what could happen to prices in 2020.
London is made up of 32 boroughs, some of which are host to some of the most expensive properties in the world, which reside next to social housing, owned by the state and rented at around a third of the cost on the open market. London continues to see demand move onwards and upwards as the population is ever increasing from a mix of people who have lived there all their lives, through to those around the UK and abroad looking to find their own fortune! Because of the huge area London covers and the vast differences within it, we don’t like reporting just on ‘London’, so instead have created our own monthly London property report. Read more to find out what's happening to the London prices and rents.