Sales agreed down 1/3rd, completions down 40% v 2019.

5 Fact Friday – 19 July 2024

May sales completion rates remain circa 40% below Q4 ’19 levels

https://20115751.fs1.hubspotusercontent-na1.net/hubfs/20115751/LIG_Property%20Trends%20Report/2024/LIG%20Q2%202024%20Property%20trends%20report/Q2%2024%20EW%20SC%20property%20trends%20report%20-%20RESI/Reports/LM%20RESI%20PTR%20JUL24%20EWS%20GENERIC%20v1.pdf

Rightmove July New Asking Prices Fall: https://www.rightmove.co.uk/news/content/uploads/2024/07/Rightmove-HPI-15th-July-Final.pdf

Rightmove reveals homes that don't need price reductions are:

1. 1.35 times more likely to be sold,

2. sales are HALF as likely to fall through.

3. They also typically sell three times faster.https://t.co/9YdVw695Mx

And yet, overvaluing estate agents continue to shoot…
— Moving Home with Charlie (@moving_charlie) July 19, 2024

Population growth being 90% accommodated by new build rates.

Our population increased by 610,000 in 2023 according to today’s ONS figures.

Meaning 254,000 new dwellings would be required to absorb the fastest yearly UK population increase in 75 years (given the average occupancy rate of 2.4 people per household).

231,000 new homes were… https://t.co/X0l1PkW9jY pic.twitter.com/KU8kxQYdGD
— Moving Home with Charlie (@moving_charlie) July 15, 2024

Total new construction starts now lower than 2009

Problem across the board – total construction starts now below 2009, according to latest Molior data.

When we speak with lg Lon developers few have plans to start construction any time soon. pic.twitter.com/bbLRUfmc9X
— Ashley from MyPropTech (@proptechpioneer) July 16, 2024

King’s Speech reintroduces the “Renter’s Rights Bill”

https://theindependentlandlord.com/kings-speech

https://www.parliament.uk/business/news/2024/july/state-opening-of-parliament-2024

Lloyds Bank to convert disused offices into social homes

NEWS: We’re planning to convert our old offices and data centres into new social housing projects.

We’re currently identifying suitable housing partners across the UK who will be responsible for redeveloping the sites.

🏢➡️🏡https://t.co/vLOIblaKSY pic.twitter.com/o8OrxCHVxl
— Lloyds Banking Group (@LBGplc) July 18, 2024