According to international property consultant Knight Frank, prime central London home rental values have continued to decline in August 2020, as weaker than normal seasonal demand was compounded by higher levels of supply.
Home prices in higher-value areas of London have responded to resurgent levels of activity this summer despite the Coronavirus pandemic.
International property consultant Knight Frank is reporting that over the last four months, the UK property market has experienced the most abrupt change in sentiment in its history.
International property consulting firm Knight Frank is reporting this week that it has been no ordinary summer for London's property market.
While early signs of the impact of the Covid-19 pandemic on rental prices were already noticeable in the first quarter of 2020, the effects of the travel ban, which was valid from mid-March, are now fully visible.
A number of global cities are seeing sales volumes continue to recover with April looking to be the low point for residential activity.
Country houses valued at £5m-plus saw the strongest price growth of any property type in the UK in the three months to June, due to interest in country living and the greater ability of buyers in higher-price brackets to transact.
The new monthly report gives key figures on the health of both sale and rental markets, with figures showing a 0.2% rise in rents nationwide in the year to June 2020.
Home purchase offers are being accepted at record rates in UK property markets as traction returns and downwards pressure on prices eases.
According to a new Daft.ie Housing Market Report released today, residential sale prices rose by an average of 3.7% in May 2020, having fallen by 5.5% in April 2020.
As most of the world's economies are reeling from the impact of the corona crisis, the effects on the European rental markets are starting to show - with previously accelerating rental prices coming to a stop.
Covid-19 and the knock-on impact of the government lockdown, will result in 56,000 fewer homes being delivered this year, representing a 35 percent drop.
Demand for London rental property has picked up in April 2020, as prospective tenants begin to plan for life after the lockdown.
Knight Frank is now forecasting the UK's housing market to decline 38 percent from 2019's home sales, to an estimated 734,000 transactions for the full year (2020).
Ireland property portal Daft.ie's newly released Property Sales Report says the number of homes listed for sale in Ireland has fallen dramatically, in the wake of the Covid-19 pandemic and the restrictions of everyday life.
Irish property listings site Daft.ie is reporting this week that home rental supply is significantly rising based on the spike of listings posted in March 2020.