Welcome to The Property Round July 2022, where we bring you the latest insights, news, and advice by leading property industry experts.
Despite the economic uncertainty that the UK has faced, the housing market remains busy. Compared to the last ‘normal’ market of 2019, buyer enquiries are up 31% and mortgage approvals and sales are up by 12% and 11% respectively. The average UK property rose in price by 13% to a record £294,845 in the year to June 2022, according to the latest property market data from Halifax and 433,000 homes in the UK changed hands in the first four months of 2022, with the average home selling within 31 days.
Despite the buoyant market, for many, the question is when, not if, the property market will start to moderate. However, any gear change is likely to be slow and steady, and not an emergency brake as was the case in the global financial crisis of 2008.
We are pleased to bring you even more insights in our summer edition, including:
- The latest transaction news by Carl Lundberg, Gerald Edelman
- West End jigsaw, by Ted Schama, Shelley Sandzer,
- Register of overseas entities owning UK properties – new measure to tackle financial crime, by Sonal Shah, Gerald Edelman
- Tax on the sale of UK property, by Amal Shah, Gerald Edelman
- Property investment – personal ownership vs company ownership, by Amal Shah, Gerald Edelman
- London lettings market is booming, by Martyn Green, Landstones
- Commercial Rent (Coronavirus) Act 2022 to solve the accumulated £7 billion rent debt, by Richard Kleiner, Gerald Edelman
- Option to tax trial period, by Richard Staunton, Gerald Edelman
For advice on any of the articles discussed contact our partners or email, firstname.lastname@example.org.
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