Our monthly property market review is intended to provide background to recent developments in the property markets as well as to give an indication of how some key issues could impact in the future.
Overview
QUEEN’S SPEECH IS ‘SIGNIFICANT’ FOR HOUSING MARKET
A key announcement in the Queen’s Speech on 11 May was a new Planning Bill, which aims to simplify and speed up the planning process using a digital, map-based service, allowing more active public engagement in the development process.
STRONG DEMAND AND A LACK OF SUPPLY DRIVE PRICES
According to the latest Royal Institution of Chartered Surveyors (RICS) UK Residential Market Survey, buyer demand has remained steady and consistent across the UK, but the lack of fresh listings is causing a mismatch in supply and demand, consequently driving house prices up.
TOP CITIES REVEALED FOR RESIDENTIAL INVESTMENT
Cambridge, Edinburgh and Bristol are the top three cities in the UK for residential property investment, according to a new report from Colliers International, comparing key cities from the UK against 20 indicators in the four main areas of economics, property, education and liveability.
HOUSE PRICES HEADLINE STATISTICS
- Average house prices in the UK increased by 10.2% in the year to March 2021
- Annual house price growth was strongest in Yorkshire and the Humber, where prices increased by 14.0% in the year to March 2021
- The lowest annual growth was in London, where prices increased by 3.7% in the year to March 2021