Home » News » Housing Market » Lockdown will reduce house prices by 5.1% this summer previous nextHousing MarketLockdown will reduce house prices by 5.1% this summerPrice comparison site Reallymoving says conveyancing quotes created between March and May show declining prices across UK.Nigel Lewis8th June 20202 Comments944 Views House prices are set to drop by up to 5.1% across the UK this summer as the economic uncertainty created by the Coronavirus crisis drives buyers and vendors to agree lower prices.Leading price comparison site Reallymoving says its lockdown conveyancing quotes data from 8,000 house moves between March and May this year reveals the significant agreed price decline, which is currently feeding through the system.This will mean the average property price will fall from £308,280 in June to £296,485 in August when these deals complete. It is also predicted that August will see a hefty 1.4% reduction in house prices in August year-on-yearReallymoving says it sees price movements earliest within the industry because the company collects data at the beginning of the property purchase process, when buyers agree a deal and seek conveyancing quotes, and is therefore an early-warning system for price changes.“For sellers now facing a period of great uncertainty and a scarcity of buyers, doing a deal at a reduced price of 3-4% could look considerably more appealing than sitting tight and waiting to see what happens over the next few months,” says CEO Rob Houghton (left).“Transaction volumes are at half their normal levels and the economy is currently propped up by the Government through the furlough scheme alongside mortgage payment holidays, so although the market is open once again, its underlying health has not yet been tested.“Levels of unemployment and confidence in the jobs market will be key factors in determining whether the housing market recovers in the autumn with a levelling out of prices or continues in a downward trajectory.”house prices reallymoving rob houghton June 8, 2020Nigel Lewis2 commentsMurray Lee, Dreamview Estates Dreamview Estates 8th June 2020 at 10:06 amPS Just agreed a sale that fell through prior lockdown£5000 less than previous sale (under 1.5% lower that’s all)Log in to ReplyMurray Lee, Dreamview Estates Dreamview Estates 8th June 2020 at 9:52 amSorry, I can’t agree although I accept our area is very “localised”.We are very short of new instructions (all agents say the same) and are getting a lot of new buyer enquiries.I had 3 viewings on 1 house we do have only this weekend.I do wish we would not focus on the negatives. Articles like this only serve to put fear into the, already nervous, buying public.And if an average house price is £215k ? Then 5% is £10k. Hardly a vast amount in the overall picture. Even in our area of NW London where average is probably now close to £1m for a house, thats “only” £50k. And I don’t think it will be either.Let’s focus on the positive please!Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021
This Noosa Waters home is as comfortable for two guests as it is 200.Aussie “A-listers” are eyeing off Noosa’s most expensive waterfront property on the market, which comes with a nightclub and two private jetties.With a price guide of $15 million, the property at 32-36 The Anchorage, Noosa Waters, is likened to a 6-star resort and is attracting local and international interest. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 3:22Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -3:22 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenBells and whistles, plus some03:22 Queensland Sotheby’s International Realty and Reed & Co Estate Agents are co-marketing the property, a holiday home owned by late businessman Donald Hay, who died from melanoma in July aged 76. Simply stunning.The home is as comfortable for two guests as it is 200, Mr Reed said.He said an “amazing mix” of clientele had shown interest in the home including groups of friends and family who would collectively buy it as a holiday retreat. “We’ve also had international interest, including expats from the UK,” he said Host your own party at the nightclub.The 13-bedroom, 12-bathroom property called Hayven is on a 2976sq m block and was originally for sale via tender late last year.Queensland Sotheby’s International Realty principal Paul Arthur said the property had “bells and whistles, plus some”.“The nightclub has an audio visual area that would be amazing for a young family or adults looking to play young,” he said. Room to host a Barty party too.More from newsParks and wildlife the new lust-haves post coronavirus10 hours agoNoosa’s best beachfront penthouse is about to hit the market10 hours ago The perfect pad for a big pool party.The house can sleep up to 32 guests and features on-site caretaker’s quarters, a maid’s quarters, a 25m pool, a championship tennis court, two jetties, a nightclub, media room, gym, steam room, a four-car garage and a guest wing with eight bedrooms. There is also a lift, wine cellar and 50m automated doors to the waterfront. That is one big walk in robe next to the ensuite. Inside The Anchorage, Noosa Waters. One of the home’s 13 bedrooms. Another of the stunning abode’s bedrooms.Mr Arthur said he had been approached by Aussie A-listers who had some significant property portfolios around the world, however he remained tight-lipped as to who they were.Reed & Co principal Adrian Reed said the property had “every facility you would expect for a high-end luxury home”.“It’s got it all,” Mr Reed said.