Latest News

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...

Support growing for Fire Safety Bill amendments that add protection for leaseholders

15 January 2021

In November, the House of Lords passed an amendment to the UK Government’s Fire Safety Bill making changes to the current legislation to protect leaseholders from having to pay for historical fire safety remedial work, including the removal of dangerous cladding. 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