logo
倫敦 icon
icon 倫敦 icon
新聞與資訊
Positive Start to the New Year for the UK Real Estate Market
一月 25, 2024
Positive Start to the New Year for the UK Real Estate Market 倫敦
By   Internet
  • 城市報
  • UK property market
  • UK real estate
  • number of properties for sale
Abstract: The latest released UK January 2024 house price report reveals an active beginning for the real estate market. The report highlights a significant increase in confidence from both buyers and sellers, presenting a positive trend in market activity.

The number of newly listed properties for sale has increased by 15% compared to the same period last year. This signifies that more sellers are confident in putting their properties on the market, with pricing that reflects increased confidence. It is noteworthy that, although the number of properties for sale is not in excess, the listed property quantity has surpassed the growth in potential buyer numbers. Therefore, for sellers looking to sell their properties quickly, pricing must be more attractive.


Buyer demand in the first week of 2024 has increased by 5% compared to the same period last year. This implies that more potential buyers are becoming active, preparing to fulfill their moving plans in the new year. Particularly noteworthy is the record level of mortgage inquiries recorded on the Rightmove platform during the Christmas period, signaling early signs of movers preparing to take action in 2024. People are starting to understand their affordability and conditions, showing a higher interest in home buying.


Agreed-upon sales have increased by 20% compared to the first week of last year. This indicates a robust recovery in buyer confidence, with a willingness to engage in more property transactions. A significant contributing factor is the substantial decrease in mortgage interest rates. Currently, the average rate for a five-year fixed-rate mortgage is 4.86%, a significant drop from 6.11% in July of the previous year. This makes it easier for buyers to obtain low-cost loans, increasing the attractiveness of home buying.

Positive Start to the New Year for the UK Real Estate Market

The report also notes that, despite the average price still being 0.7% lower than the same period last year, the average listing price across the UK has risen by 1.3% from the previous month, reaching £359,748 per property. This is the largest price increase from December to January since December 2020, more than doubling the 20-year average level of 0.6%. These data points indicate that market activity in the first week of the new year is significantly stronger than a year ago, with increased confidence from both sellers and buyers in the market outlook.


In the London area, house prices have fallen by 0.5% year-on-year, with the current average property price at £664,550. However, in different administrative areas of London, Wandsworth (+5.8%), Westminster (+2.9%), and Lambeth (+1.7%) have the highest annual growth rates. Particularly, Lambeth, located on the south bank of the Thames, not only tops the list in terms of house price growth but also ranks in the top three for rental growth. Lambeth, with its magnificent river views and rich cultural activities, attracts residents of different backgrounds and ages.


In terms of rent, the average rental growth in the UK is 8.0% year-on-year, with a slight 0.9% decrease from the previous month. The average rental growth in the London area is 6%, reaching £2,127 per month. In Greater London, tenants on average need to allocate 39.6% of their income to pay rent, reflecting a 3.2% increase compared to the same period last year. This reflects one aspect of the supply-demand contradiction in the UK real estate market.

留言
icon
請輸入您的國籍
+87
不能為空
電子郵件地址無效 電子郵件地址未驗證!
icon
歡迎訪問 House.com
登錄或註冊以充分利用您的體驗。這也將增加您與經紀人交流的機會。
請輸入有效的電子郵件地址。
繼續使用 Google
提交即表示我接受House.com的   使用條款
icon icon
驗證您的電子郵件
你好 我們剛剛將驗證碼發送到您的電子郵件中。 請檢查並在此處輸入驗證碼以繼續登入。
驗證碼錯誤
沒有收到電子郵件? 請檢查您的垃圾郵件資料夾
icon
banner
Positive Start to the New Year for the UK Real Estate Market
icon 複製鏈接
icon WhatsApp
icon Facebook
icon Twitter