May sales hit post-2022 high as housing market regains momentum Rightmove says May 2025 was the busiest month for agreed sales since March 2022. The rush to complete before April’s Stamp Duty changes caused a spike in March, followed by a 4% dip in buyer demand and the slowest annual May price growth since 2016. Despite this pause, home-movers have Read More
Economic Review May 2025
UK growth beats expectations First quarter gross domestic product (GDP) data published last month by the Office for National Statistics (ONS) showed the UK economy grew more strongly than had been predicted during the first three months of 2025. According to the latest GDP statistics, economic output rose by 0.7% between January and March, up sharply from a rate of Read More
Residential Property Review May 2025
Improving rate outlook boosts UK forecasts Knight Frank has raised its house price forecasts amid signs of a more supportive interest rate environment. The revision follows the Bank of England’s recent rate cut to 4.25% and growing expectations of further reductions this year. Even if those cuts don’t materialise, Knight Frank says cheaper fixed-rate mortgages will underpin demand in the Read More
Economic Review April 2025
UK economy returns to growth Data released last month by the Office for National Statistics (ONS) showed economic growth was stronger than expected in February, although more recent survey evidence suggests this pick-up may prove short-lived as economic headwinds threaten growth prospects. According to the latest gross domestic product (GDP) statistics, economic output rose by 0.5% in February, the fastest Read More
Residential Property Review April 2025
Most homeowners underestimate property value by tens of thousands Zoopla research says most homeowners are in the dark about their property’s true value. While house prices have held steady in recent years, long-term growth has come as a surprise to many homeowners. Zoopla’s data shows 64% of homeowners underestimate how much their property is worth. Over a third valued their Read More
Economic Review March 2025
Chancellor trims spending plans Rachel Reeves delivered her Spring Statement on 26 March, unveiling welfare cuts and spending reductions in order to balance the government’s books in the face of a worsening fiscal outlook. The new spending plans were required to ensure the Chancellor stays on track to meet her two self-imposed fiscal rules, which she confirmed remain “non-negotiable.” An Read More
Residential Property Review March 2025
Housebuilding falls to seven-year low as planning delays persist Housebuilding in England has dropped to its lowest level since 2017, excluding the pandemic period, with just 217,911 new homes completed in 2024. This marks a 6% decline from 2023’s total of 231,000 and continues a four-quarter trend of falling completions, according to Energy Performance Certificate (EPC) data. Completions have slowed Read More
Economic Review February 2025
Growth stronger than expected in late 2024 Data released last month by the Office for National Statistics (ONS) revealed that the UK economy unexpectedly grew in the final three months of last year, although more recent survey evidence still points to a sluggish outlook. Following its latest meeting, which concluded on 5 February, the BoE’s nine-member Monetary Policy Committee (MPC) Read More
