Latest News

HM Land Registry portal enhancements – a benefit to the property industry

11 August 2020

Following the announcement on 27 July that transfers of ownership of property, leases, mortgages, and other property dealings can be signed electronically, HM Land Registry has also confirmed that customers in Wales and England can now manage all portal applications and correspondence in one central place. Read More...

Government urged to speed up cladding remediation process

10 August 2020

The second report from the Industry Safety Steering Group on the progress of culture change in the construction sector was issued on 5 August, which highlighted the need for further change for the industry now, ahead of the legislation. Read More...

Consultation to reform planning system launched

06 August 2020

Housing Secretary, Robert Jenrick announced today, 6 August, the Government is ‘Planning for the Future’ and aims to overhaul outdated systems and reform the way the country builds. Read More...

Pandemic has not deterred the UK from making the next move

Friday 17 July 2020

Market data from Zoopla shows buyer demand is up as both customers and agents emerge from lockdown. Buyers are continuing with planned moves and the lockdown has further increased the number of people wanting to make a change.

Demand for home purchases still high

Buyer demand in June was around 46 per cent higher than in early March and 1.5 times higher than the same period in 2019. This is attributed to the opening of the English housing market on 13 May, and demand increased 41 per cent on the partial opening of the Welsh housing market on 22 June. A similar rise is expected in Scotland after its opening at the end of June and sales across the UK are also 4 per cent higher than those recorded on 1 March.

Eight in ten buyers still plan to move in the next year

A large majority – 86 per cent – of house hunters who had planned a move before March’s lockdown still intend to move within the next year despite the delays the pandemic has caused.

Elevated buyer demand is likely to be, in part, due to the influence of many weeks locked down in a current property. A new survey by the Office of National Statistics found that one in four people are planning a major life change post-pandemic. Of those people, more than a third wanted to change where they lived.

New mortgage products aim to address deposit gap

Some lenders have introduced 90 per cent Loan to Value (LTV) mortgages in an attempt to combat the decrease in available products for buyers with smaller deposits. Yorkshire Building Society brought a 90 percent LTV product forward specifically for first time buyers, and other lenders are offering a limited number of 90 per cent home loans.

The pandemic has seen a sharp decrease in available lending for buyers with a small deposit – loans for buyers with a 10 per cent deposit fell by more than a third in mind-June, and mortgage availability has halved for those with a five per cent deposit.

Propertymark resources

Propertymark has a series of consumer guides on moving during COVID-19 that agents are encouraged to share in their day-to-day work and on their own social media channels. We are also encouraging buyers and vendors to work with agents on making sure viewings and house moves are COVID-secure.

Guides

Propertymark’s own Housing Market Reports give a picture of the UK housing market and the issues that our members are experiencing. The May report can be found on the NAEA Propertymark website, which looks at the housing market in England post-lockdown.

Housing Market Report