Latest News

Government announces rise in new homes built last year

20 January 2021

Figures published in January 2021 show a 111 per cent increase in housebuilding in England from July to September 2020 compared with the previous quarter. Data for the same period also show a quarterly rise of 185 per cent more dwellings completed. Read More...

Winter weather precautions

20 January 2021

Propertymark Industry Supplier, Gallagher offers practical steps that can help agents and their clients reduce the risk of damage to property as areas of the nation are set to see further warnings of more inclement weather to come. Damage caused by the escape of water from frozen pipes and other equipment can be extremely costly in repairs and disruption. Read More...

New Help to Buy: Equity Loan Scheme

19 January 2021

First-time buyers looking to purchase a home in England will continue to receive Government support under the revised Help to Buy: Equity Loan Scheme (2021-2023), which is now open for applications with buyers able to move into their new properties from 1 April 2021. Read More...

Further calls to Government to extend Stamp Duty cut

15 January 2021

A group of 50 Conservative MPs are calling on the Chancellor, Rishi Sunak to extend the stamp duty cut for properties worth less than £500,000 a further 12 months in a major boost alongside The Telegraph’s ‘Stamp Out the Duty’ campaign. Read More...

New building safety regulators proposed for Wales

15 January 2021

The Welsh Government’s Building Safety White Paper covers all multi-occupied residential buildings, from houses converted into flats through to high rise apartment blocks. It sets out major reforms to how properties are designed, built, managed, and lived in whilst proposing clear lines of accountability and a stronger regulatory system. Read More...

Record high for housing demand and supply of rental stock

Thursday 10 December 2020

As we near the end of 2020, Propertymark has analysed its sales and lettings data to reveal trends from the year, which has been an unprecedented one due to the COVID-19 pandemic.

Both the sales and rental markets have remained resilient, despite market closure between March and May. The prioritisation by the Government of a functioning property market and subsequent implementation of the Stamp Duty, Land Transaction Tax, and Land and Buildings Transaction Tax holidays, as well as measures taken to keep the rent flowing within the private rental sector, have allowed for record-breaking levels of house sales and rental accommodation.

Housing demand

Over the course of 2020, the number of prospective buyers was the highest it has been over the past decade with an average of 403 house buyers registered per branch, compared to 320 on average throughout 2019 and the previous decade high of 379 in 2015. Looking back over the last decade, demand for housing is up by 55 per cent, from 260 per branch in 2010.

The number of properties available to buy hasn’t changed year-on-year, with an average of 39 available per branch consistently since 2018. The month of July saw the highest number of properties available this year, with an average of 43 available to buy per branch. Supply has dropped considerably over the last decade, from 63 on average per branch in 2010.

The number of sales agreed per branch throughout the year hit a decade high of 10 sales on average per month in 2020. Historically this figure has stayed consistent, only moving between seven and nine between 2010 and 2019.

The average proportion of total sales made to first-time buyers (FTBs) decreased by two percentage points in 2020, from 27 per cent in 2019 to 25 per cent. This figure is consistent with both 2018’s average figure of 25 per cent and the past decade’s average of 25 per cent of total sales being made to FTBs.

Private rented sector

The supply of rental accommodation in 2020 was the highest on record, with 203 properties managed on average per branch throughout the year, compared to 2019’s figure of 199. October saw another highest figure on record with 213 properties managed per branch reported.  

As landlords continued to feel the pinch, the number of buy-to-let (BTL) investors selling their properties remained high, at an average of four per month in 2020. In both February and September, the figure spiked to five per branch.

The number of tenants experiencing rent hikes has fallen this year to 36 per cent, from an average of 44 per cent in 2019. This is due to COVID-19 rent struggles preventing further tenant fees ban related rent increases.

Quote mark

We are confident this boom will continue through the New Year but grow increasingly concerned about the impact of the property tax cliff edge on 31 March 2021. It has already increased pressure on service providers within the industry, causing delays for buyers and sellers, and could cause thousands of sales to fall through at the final hurdle as buyers realise their sale will not be completed ahead of the deadline.

Mark Hayward

Mark Hayward
Propertymark Chief Policy Advisor

Property Sector Support Package

Propertymark is calling for an extension to the property tax holiday to avoid transactions falling through, price falls, and a sudden loss of momentum in the market.

  • Homeownership provides an increased sense of stability and security to people’s lives and the local communities in which they live.
  • Since the introduction of the cut to Stamp Duty/Land Transaction Tax/Land and Buildings Transaction Tax, the housing market has excelled

Extending the cut to property taxes would continue to support jobs in the sector and the wider economy and #keepthemarketmoving.

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