RICS Residential Market Survey (Jun.)

Activity and house prices were extremely strong again in June according to the RICS survey, although there was a distinct softening in the more forward-looking balances. As supply remains limited, we think that house prices will prove resilient to the inevitable dip in transactions after the stamp duty holiday.
Andrew Wishart Property Economist
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Residential demand returns to London

While the UK has seen house prices boom over the past year, central London has not joined in as increased remote working led buyers to shun the capital for more space in the suburbs and further afield. But indicators of demand show that it is far too early to call time on city living, with demand now returning to the purchase and rental market despite prices remaining far higher relative to earnings than in other regions.

18 October 2021

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Credit Conditions Survey (Q3 2021)

An ongoing improvement in credit availability may offset the increase in Bank Rate we expect in 2022. That offers support to our forecast that mortgage rates will remain low.

14 October 2021

UK Housing Market Data Response

RICS Residential Market Survey (Sep.)

The RICS survey suggests that the housing market has shrugged off the deterioration in sentiment about the broader economy so far. Demand stabilised at a high level in September while stock remained limited, so strong competition between buyers appears set to bid up house prices further in the near term.

14 October 2021

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UK Housing Market Data Response

Halifax House Prices (Jun.)

While we would be wary of reading too much into the small decline in house prices in June reported by Halifax, timely measures of house prices are consistent in pointing to a moderation in house price growth.

7 July 2021

UK Commercial Property Data Response

IHS Markit/CIPS Construction PMI (Jun.)

Despite a further deterioration in the availability of building materials, construction output rose at the fastest pace since 1997 in June. That suggests output in the sector is now well above pre-virus levels.

6 July 2021

UK Housing Market Chart Book

Demand shifts towards outer London

London house prices have underperformed the national average over the past year as the pandemic has led to a shift in demand away from inner cities. Arguably London was due a period of weaker price growth even before the pandemic hit, following the outperformance of the capital in the 2010s. That said, price falls have been focused in the most central boroughs, while the best performing outer boroughs have seen price rises akin to the national average.

2 July 2021
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