Jaffray Estates

Latest London Property News – December 2018

Market Overview

The stagnant property market in London amid Brexit uncertainty continues to frustrate buyers and sellers this month as asking prices in the capital fell £11,275 to an average of £602,996. Yet while this 1.8% seasonal slip actually marks the smallest November to December

decline for five years, it’s not a sign of an improving outlook but rather a dramatic reduction of properties available to buy. Continue reading “” »

Latest London Property News – November 2018

Market Overview

The days of London house price rises hugely outpacing inflation in the UK is unlikely in the short or medium terms as Brexit uncertainty weights on the housing market, according to a new poll. Property values in the capital more than tripled in the last 20 years, but demand and turnover have crumbled since the June 2016 vote to leave the European Union and property taxes were raised, the latest Reuters poll says. Continue reading “” »

Latest London Property News – October 2018

Market Overview

The London market remains sluggish due to Brexit and political uncertainties and stamp duty changes. Sellers have cut the asking price of 37.9% of homes, up from 32.4% in April, property website Zoopla said. In the capital, 39.5% of property listings have been reduced in price – up from 34.6% in April. London has seen 45% of asking prices reduced – the most of any London borough, Kensington and Chelsea, home to some of the world’s Continue reading “” »

Latest London Property News – September 2018

Market Overview

House prices in London have been faltering of late, and experts have now revealed their views on how a “disorderly” Brexit could further impact the capital’s property market. A quarterly poll by Reuters of around 30 analysts and housing market experts has concluded that there could be a one in three chance of London’s housing market losing significant value by the end of next year if we end up with a “no-deal” Brexit. Continue reading “” »

Latest London Property News – July 2018

Market Overview

The latest figures from the Land Registry show prices in the capital dropped by 0.4% to an average of £478,853 in the year to May, still well out of reach for most young Londoners. Richard Snook, senior economist at PwC, gives three reasons why affordability in the capital has been stretched: “a high deposit saving hurdle, increased economic uncertainty relating to Brexit acting as a drag on international investment, and reduced numbers of housing transactions due to stamp duty changes”. Continue reading “” »

Latest London Property News – June 2018

Market Update

The number of homes on sale for more than £1 million in London has risen to a record high as buyers walk away from “vanity” asking prices. There were 19,243 houses and flats on the market with a seven-figure-plus price tag in early June, up from 18,844 a year previously, according to analysis from property portal Rightmove. With prices static or falling across most of London, the increase appears to be down to a growing backlog of expensive homes failing to sell in a tough buyers’ Continue reading “” »

Latest London Property News – May 2018

Market Overview

The property markets in London have been lacking clear direction, but it is not bracing for a slump. Looking forward, we expect the outlook to remain opaque until the political situation stabilises, and further clarity is provided on the UK’s future trading relationships with the rest of the world. However, whatever the outcome, we expect London to remain a truly global city, continuing to attract businesses, capital and talent from around the world. Continue reading “” »

Latest London Property News – April 2018

Market Overview

The market in London is still fragile, with low transaction levels, although there is a sense that prices in prime central London have bottomed out, famous last words! Understanding price movements and levels of activity can be difficult as there are plenty of examples of record prices for prime property currently being achieved. There are good opportunities for buyers in the market now, as we expect prices to strengthen in the near future. Continue reading “” »

Latest London Property News – March 2018

Market Overview

Quarter 1, traditionally a quiet time of the year plus bad weather, has been exactly that – London property asking prices slumped for a seventh straight month as sellers held off putting their homes on the market, according to property portal Rightmove. The March report from the home-listing website shows that asking prices declined 0.6% from a year earlier in March, with the number of newly marketed properties falling 3 percent. Prices rose 0.6% from February, Continue reading “” »

Latest London Property News – February 2018

Market Overview

2018 got off to a subdued start, with sellers of homes priced in excess of £1m in London finding it toughest to find buyers in January, according to a survey of estate agents. Across the UK as whole, the volume of sales, new buyers, and properties coming onto the market fell in January, the Royal Institution of Chartered Surveyors said. Of the estate agents surveyed, 67% said the sales price achieved on homes priced at £1m Continue reading “” »

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