This morning's figures released by HMRC have revealed that the pandemic and subsequent lockdown measures imposed by the government caused a widely expected slump in April's property transactions.
Britain’s property market has proved to be a cornerstone of economic activity for decades. Without buyers and sellers alike booking removal lorries and moving home, large parts of the economy can lose momentum and drag on growth.
But Savills predicts economy and property market will recover quickly and return to pre-Coronavirus levels next year.
The changes are designed to allow property ownership transfers to continue, and remove the need for face-to-face verification of identity.
Expected slump following the lockdown is detailed in the March 2020 Price Paid Data from HM Land Registry.
Freeze on transactions will cut sales by 38% with wide-ranging knock-on effects for economy, warns leading agency
Knight Frank forecast that residential property sales will fall by 38% this year, amid the coronavirus pandemic.
Major analysis of coronavirus impact stresses property prices will dip only 3% and then rebound next year
There was a 40% drop in housing enquiries for the week to 22 March, the week before the nationwide lockdown, and new sales agreed fell by 15% on the previous week.
Sales and viewings through online estate agents are falling considerably now the coronavirus outbreak worsened, data from online estate agency Doorsteps indicates.
Survey reviews all regions of the UK and shows Hertfordshire as the quickest area to sell a home and Devon as the slowest – at more than a year.
GetAgent.co.uk has been crunching the numbers again, this time revealing which property type proved to be the most popular home purchase over the last year and how it differs across major cities and each county/district of England and Wales.
Nearly half (44%) of British homeowners would not buy their home again if given the chance, research from home interior company www.Hillarys.co.uk found.
This is typically due to issues with the house like heating and plumbing (59%), as well as the size of the house (43%) and having troublesome neighbours (34%).
Housing activity increased on both a yearly and monthly basis in January, HMRC statistics show.
In January 2020 there were 102,810 residential transactions on a seasonally adjusted basis, 5.2% more than the same month last year and 4.1% more than December 2019.
Properties in Prime Central London are coming onto the market at twice the rate as other areas of London, as owners look to take advantage of the sharp uplift in the property market, Chestertons, one of central London’s largest agents, has revealed.
GetAgent.co.uk has been crunching the numbers and found that, partly due to Brexit uncertainty, large numbers of cash buyers are quids in vs their mortgage counterparts when it comes to securing the best price on a property.
‘Boris bounce’ invigorates buyers and sellers, leading to 12% surge in sales
Activity in the UK housing market picked up at the start of the year, surveyors say, with cautious expectations of the lift continuing.
Despite financial uncertainty across the whole of the UK property market, sales of properties valued upwards of £1m continue to happen. New market analysis from lettings and sale agent, Benham and Reeves, reveal where.
More than 29,000 house sales fall through every year due to fears over local crime, amounting to 2.4% of house sales.
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