5 Fact Friday 28 April 2023

1. New Homes builder Persimmon reports a 42% fall on unit sales in Q1 2023 compared with 2022. https://www.persimmonhomes.com/corporate/media/news/2023/trading-statement/

2. Home Sale transaction volumes remain good, with Chris Watkin reporting that last week sales totals were the highest level since the mini-budget of Sept last year. Strong liquidity is important for everyone in the moving market, so the fact we’re avoiding stagnation in house sales is good news all round. https://propertyindustryeye.com/uk-property-market-sees-best-week-for-house-sales-since-the-mini-budget/

3. Rightmove reports asking rents in London have passed £2,500pm for the first time. Although in encouraging news for tenants, the meteoric 5.8% rise of rents in London from Q4 last year has slowed to just 0.9% in Q1 2023. https://www.bloomberg.com/news/articles/2023-04-27/london-rents-top-2-500-for-first-time-as-supply-of-homes-drops

4. Mortgage transactions in February 2023 fell to their lowest since May 2020 during the pandemic, as the delayed effect of interest rate increases starts to bite. https://propertyindustryeye.com/analysis-reveals-effect-of-rising-interest-rates-on-mortgage-transactions/

5. This week’s BestAgent homes market data shows the “Reality Gap” between unsold asking prices, and asking prices of sale agreed homes, of £85k between the averages, and £40k between the medians. https://bestagent.news/country/england/

All facts, no opinions, make of it what you will!

Have a great bank holiday weekend all.

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