Asking Prices in the U.K. Reach Record High
But growth is slowing despite the new high average listing price.
2 min
U.K. home sellers have been asking for more for their properties than ever before, but that may be starting to turn around, according to a report Monday from Rightmove.
The average listing price for a property rose to £338,462 (AU$637,287) in September, ticking up 0.3% compared to August and 5.8% compared to the same time in 2020, the data showed.
However, this month’s record price is only £15 more than the previous high, set in July, which is “a sign that prices are now stabilizing,” the report said.
Competition among potential buyers remains fierce, however, and has doubled from 2019 levels, according to Tim Bannister, Rightmove’s director of property data.
“While the holiday-starved took their break over summer, the high ratio of buyer demand to properties for sale means that the property market remains stock-starved despite the summer lull lessening overall activity,” he said in the report.
That means home seekers need to have cash in hand or financing secured before they even come to the table to try to land a property.
“In the most competitive market ever, today’s ‘power buyers’ also need to have already found a buyer for their own property, or to have no need to sell at all,” Mr. Bannister continued. “Agents report that buyers who have yet to sell are being out-muscled by buyers who have already sold subject to contract. Proof that you are mortgage-ready or can splash the cash without needing a mortgage will also help you to get the pick of the housing crop.”
South West England saw the biggest annual gain in house prices—9.5% to £353,213—followed by Wales, which saw a 9.4% year-over-year jump to £232,440, the report found. The East Midlands followed with a 9.1% rise in prices to £264,554.
Price growth was slower in London, which registered a 0.8% increase in prices in September, compared to the same time the previous year, the data showed.
Rightmove also reported a 14% rise in new listings in the first two weeks of September compared to the last two weeks of August, a sign of the market starting to normalize.
“This 14% increase in the number of new sellers coming to market in the first half of September is only an early snapshot, but autumn is traditionally a busy period, as those owners who have hesitated thus far during the year see the few months before Christmas as an opportunity to belatedly get their moving plans underway,” Mr. Bannister noted.
Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: September 20.
Copyright 2020, Dow Jones & Company, Inc. All Rights Reserved Worldwide. LEARN MORE
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
3 min
There’s no shortage of design inspiration online but nothing beats the joy of spending an afternoon immersing yourself in a good interior design book. Edited, carefully curated and, above all, designed, these titles take you behind the scenes of some of the world’s most beautiful interiors in a considered way. Think of it like the difference between listening to a few tunes on Spotify versus releasing a thoughtfully crafted studio album. We’ve assembled our top six of interior design books on the market right now for your viewing and reading pleasure.
1. Interiors beyond the primary palette
Step inside the world of award-winning interior design duo Juliette Arent and Sarah-Jane Pyke in this, their first compendium of their work. A ‘best of’ over more than 15 years working together, it’s a masterclass in working with colour and pattern as seen through 18 projects from around the country. With a focus on the idea of home as sanctuary, this hefty tome offers insight into the mind of the designer with points on where to find inspiration, meeting client briefs and the importance of relationships. Thames & Hudson, $120
2 House of Joy
If there was ever a book title for our times, then this is it. With a subtitle of Playful Homes and Cheerful Living, this book champions fun in interior design, with bold and bright homes from around the world to delight and inspire. While there’s a good dose of the unexpected, like a disco ball in the garden, there’s no mayhem in these spaces. Instead, they’re beautifully executed to tempt even the most colour shy. Gestalten, $105
3. Abigail Ahern Masterclass
Some design books are beautiful to look at, and that’s it. This is not one of those books. A master of colour and pattern, UK designer Ahern offers a practical foundational guide to beautiful interiors, mixing form with function in her latest book, Masterclass. Find the inspiration you need to create a gorgeous home. HarperCollins, $65
4. Interiors Now!
Looking for a visual crash course in international design trends with longevity? This is the book for you. Featuring homes across the globe, from New York to Auckland via Avignon, the biggest dilemma for readers is settling on a style. Many of the projects are owned by designers and creatives, lending a dynamic edge to this tome, now in its 40th year. Taschen, $50
5. Home by the Sea
For many Australians, the ocean holds an almost hypnotic appeal. Home by the Sea by Natalie Walton lets you imagine, for a little while at least, what it’s like living the dream in a beach shack in Byron Bay. The book tours 18 homes in and around the region and the hinterland owned by artists, designers and makers. With photography by Amelia Fullarton, it champions the good life. Hardie Grant, $60
6. The Layered Interior
Released last year, this is the third volume from award-winning interior designer Greg Natale. Different in format from his earlier books, the eight projects featured are Australian but with a slight Euro-centric focus. The writing is conversational, almost intimate, inviting the reader into the most luxurious spaces beautifully captured by photographer Anson Smart. This coffee table tome is perfect for dreamers and doers alike. Rizzoli, $110
Sales volumes and median prices on the rise in the N.T
What goes up, must come down. But not necessarily this fast. Canadian marijuana stocks that posted staggering gains on Wednesday fell just as fast Thursday, while U.S. multistate operators, or MSOs, were dragged down, but fared a bit better. Tilray stock (ticker: TLRY) fell 49.7% Thursday, erasing all its gains from the prior trading day. Aphria stock (APHA) closed down …
Continue reading “Pot Stocks Are Getting Crushed. What You Need to Know.”
