The latest edition of the TwentyCI Property and Homemover report has been released, providing a detailed review of the UK market based on factual data, full market coverage, demographic overlays and real time property sales and rental data.
Confidence has returned to the market
The comprehensive report of the current UK market shows that confidence in the market is building, with property exchanges up nearly 8% when compared to this time last year, with more buyer interest returning to the market bringing stability and further market momentum.
In fact, there have been over 100,000 more properties listed on the market in Q1 of 2018 with the average house price remaining unchanged at £297,000.
The capital is starting to change
London has been worst hit by the previous levels of market uncertainty due to the higher property price tag and lack of foreign investment.
TwentyCI found that in inner London prices have fallen 4% year on year, however, they also found the number of exchanges is up 8% suggesting that market activity remains despite sellers having to adjust their price expectations.
A rise in smaller sized homes
More than 50% of the property sales already completed this year were either terraced or semi-detached homes, a 17% increase when compared to 2017. In addition, one in five properties were flats, up 10% and particularly prominent in large towns and cities.
Baby boomers on the move
Latest figures from the Equity Release Council suggests equity release lending reached £3m in 2017 as more and more homeowners draw equity from their property and pensions to join the buy-to-let market or help their children get a foot on the ladder themselves.
The continued rise of the online sector
TwentyCI also found that online agents have continued to take market share from the traditional sector, with an 11% increase this year already, bringing the total market share to 7% in a short amount of time. Further indication that the changing face of estate agency is here to stay.
Unusual property features
The latest report shows that across the UK there are 63 houses with a private helipad, one of which is the very impressive Lake House on the market with us for £4.5m – check it out.
If travelling by air isn’t your thing, there are 15 houses across the nation with a submarine dock, in addition to the 600+ with a boat mooring.
Finally, with tensions building across the globe, TwentyCI has found 93 properties with a nuclear bunker, 30 with a bomb shelter and 33 with a panic room!