Confidence in the UK housing market cooled in November, with fewer people thinking that their property increased in value compared to last month.
Rising property prices fuelled by stamp duty freeze will fade away next year with average home losing £7,350, Google search data shows. Google search data shows clicks on the main property sites peaked in August but dropped by 7% this month Experts warn housing prices could fall by up to 3.7% as a result, wipingContinue reading “Britain’s housing boom… will fizzle out”
Predictions of sharp downturn next year are gaining ground among experts as outlook dims. In April, with the UK in coronavirus lockdown and the property market frozen, estate agent Savills predicted that house prices would fall by 5 to 10 per cent in the short term.
Housing Market During Lockdown
Shortly after the UK lockdown began at the end of March 2020, so-called COVID clauses in residential sale contracts began to be used routinely across the sector. Such clauses provide a mechanism for parties to exchange contracts while retaining a degree of financial protection, by ensuring that they are not in default if completion isContinue reading “Don’t forget the COVID clause”
Home buyers cut their offers as they fear house prices will fall – and sellers are nervous too. Agents are also reporting a jump in buyers trying to renegotiate Buyers say house prices are forecast to fall and they take big risks proceeding Buying and selling properties has been near impossible during lockdown, with aroundContinue reading “What will happen next to the property market?”