<p>No.1 Palace Street, The St. Regis Residences is located opposite Buckingham Palace, Westminster and adjacent to St James's Park - one of London's most sought-after neighbourhoods. This palatial development is an exceptional collection of 72 private apartments, across an island site comprising five different architectural styles. </p>

<p>Conceived by Northacre and SHUAA Capital, No.1 Palace Street, The St. Regis Residences embodies all of the hallmarks of a world-class residential development. Parts of the building offer ceiling heights from 2.6 to 3.0 metres, with some as high as 5.0 metres.</p>

<p>Now complete, No.1 Palace Street, The St. Regis Residences offers all residents a new standard of luxury lifestyle, with amenities including valet parking, private residents' garden, library, cinema, meeting room, spa/wellness centre including 20 metre swimming pool and gym.</p>

<p>The location of No. 1 Palace Street, The St. Regis Residences is as unique as its architecture. Set in a unique location, directly opposite Buckingham Palace, the prestigious building has a long-standing affiliation with British Royalty. Built in 1861, the Grade II listed wing of the building, Buckingham Gate, was once the major landmark ‘The Palace Hotel’. It hosted distinguished guests of Queen Victoria, before the third wing of Buckingham Palace was built.</p>

<p>Merely a stone’s throw from the history and tradition of St James’s, the finest restaurants and shopping of Mayfair and Knightsbridge, and only a short walk from the serenity of the Royal Parks, residents will be placed within easy reach of the best that London has to offer.</p>

*Images are CGI and are indicative only.

No.1 Palace Street, The St. Regis Residences

<B>Register for exclusive preview access:</b> Introducing a unique collection of exquisite private apartments in an exclusive new Kensington landmark, 100 Kensington offers the first opportunity to live in the tallest residential building in the Royal Borough of Kensington and Chelsea.
 
Residents will benefit from the prime location, offering convenient access to the vibrant Kensington High Street and the tranquil Holland Park, both within walking distance.
 
The development boasts an impressive array of amenities, including a beautifully landscaped plaza complemented by a diverse range of leisure, commercial, and community facilities. These encompass artisanal cafés, a state-of-the-art gym, a luxurious swimming pool, and versatile community spaces, collectively fostering an engaging and dynamic environment for both residents and visitors.
 
The focal point of the development and the first residential building to launch will be the iconic 29 storey tower, which will offer high-rise living in London’s most desirable borough benefitting from unparalleled views of this storied neighbourhood and the city beyond.  The striking building by SevenCapital and MARK redefines city life, consisting of a unique collection of premium 1, 2 and 3-bedroom apartments with finishes designed by Conran and Partners.
 
Launching Summer 2025 
 
Register your interest now.

100 Kensington

<b>Launching 15th & 17th May -</b> Welcome to Wimbledon Place, an exceptional collection of 135 meticulously designed apartments in the heart of Wimbledon.

Exclusive opportunity to reserve your premium apartment prior to launch.

This prestigious development offers a range of studio, 1, 2, and 3-bedroom residences, each crafted with a design-led approach.

Residents of Wimbledon Place will enjoy stunning communal rooftop terrace, providing breath-taking views of the surroundings. The property boasts premium amenities, including an onsite gym, dedicated concierge service and a versatile co-working space, catering to modern lifestyles. With its central Wimbledon location, Wimbledon Place combines contemporary living with convenience, making it an ideal choice for those seeking a sophisticated urban residence.

Enquire now to register your interest.

Wimbledon Place

The Lanes is a collection of 1, 2 & 3 bedroom apartments and 3 bedroom houses in London’s largest new park.

Set between buzzy Tooting and leafy Earlsfield, enjoy hybrid living with quick transport connections to central London, or disconnect in 32 acres of urban wilderness on your doorstep.

Your Springfield Village neighbourhood provides a supermarket, gym and café for added convenience.

The Lanes

<b>Completed & ready to move in now -</b> Make Canary Wharf your home this year.

Limited time offer - stamp duty contribution and service charge holiday | Amenity spaces now complete and ready for use! | Exclusive access to an array of private lifestyle amenities including landscaped gardens, gym, bowling alley, media room and sky lounge | Nestled in the dynamic new opportunity area of the Upper East Side of Canary Wharf | Contact us today to book your viewing and find out more.

Discover an exceptional selection of stylish, contemporary one, two and three bedroom apartments that boast sweeping panoramic views of London. 

Nestled in the dynamic new opportunity area of the Upper East Side of Canary Wharf, One Thames Quay is set to be an integral part of a bustling and thriving community. With an array of new cafes and shops at its base, One Thames Quay will provide a vibrant streetscape for residents and visitors alike to enjoy. 

Located just moments from the upcoming neighbourhood of Wood Wharf, the area will offer up to 3,600 new homes, 2 million sq ft of office space, and 350,000 sq ft of retail space, as well as over nine acres of public spaces, squares, and parks. A GP surgery and a school will also be on offer, making One Thames Quay the ideal place to live, work, and play.

Its clean, classic lines form a stunning 48-storey tower that transforms the London skyline. With every apartment offering riverside views, gaze out at breathtaking views of the River Thames and South Dock, and immerse yourself in the tranquil riverside environment.

As a resident, experience a life of unparalleled luxury with exclusive access to an array of private lifestyle amenities including landscaped gardens, gym, bowling alley and sky lounge.

Enquire now to find out more about One Thames Quay.

Planning number: PA/16/02808 granted by Tower Hamlets Council.

One Thames Quay

<b>Discover Luxury Living in E3: New Build Homes –</b> Marketing Suite and Show Apartments Now Open – Book Your Appointment Today.

Experience urban sophistication with our upcoming collection of 159 premium apartments in Bromley-by-Bow, E3. Choose from stylish studios, spacious 1-bedroom, and luxurious 2-bedroom flats, perfectly situated for modern London living. 
 
Prime location and unbeatable connectivity: Enjoy access to London's key areas with an 8-minute stroll to Bromley-by-Bow Underground and a 4-minute walk to Bow Church DLR. Reach Canary Wharf, Stratford, and The City in just 15 minutes. London's top universities are within easy reach, accessible by direct tube routes in 25 minutes or less.*

Family-friendly neighbourhood: Bromley-by-Bow offers an exceptional environment for families, boasting 74 Ofsted outstanding schools and 130 Ofsted good schools in the vicinity**. This makes it an ideal location for families prioritising quality education for their children. 

Community-focused development: Experience a thriving, and vibrant neighbourhood designed with community in mind. The development features a new pocket park and part-pedestrianised street, enhancing the area's appeal. Ground floor spaces are dedicated to community use, fostering a sense of belonging. Residents also benefit from easy access to expansive green spaces like Victoria Park and the Olympic Park. 

Investment opportunity: Secure your stake in East London property with a 250-year lease starting from March 10, 2023. This represents an excellent long-term investment in one of London's most promising areas.

Upper East offers units for open market sale, shared ownership and affordable rent.

Realise your dream home through Secure Buy and Own New -  Now Available at Upper East.

Don't miss out on your dream home at Upper East, Bromley-by-Bow. Register your interest now for exclusive updates on these highly anticipated E3 apartments. Experience the best of London living in a flourishing, well-connected community.

*travel times are approximate and are taken from google.com/maps
**information taken from https://reports.ofsted.gov.uk/search

*Internal computer generated images are intended for illustrative purpose only. They are not representative of final layout or interior. Room styling and all related items such as furniture, soft furnishing, some window treatments and feature wall colours etc are not part of the specification and are for styling purposes only. Please refer to the specification section for more details or check specific layouts with our Sales Consultant. Images showing views are based on the site at the time the image is produced. Views are based upon the apartment location and elevation and are subject to change based on any future neighbouring developments. Therefore, a view which is unrestricted now may be restricted in the future.

Upper East

Soaring 24 storeys above the Thames, The HiLight presents 113 luxury residences in Battersea, set to launch in early 2025. This visionary development offers one-bedroom apartments starting from £625,000 and two-bedroom units from £955,000.

Designed by a collaborative team including Squire & Partners, Bowler James Brindley, Grand Associates, and Ghelamco, The HiLight features floor-to-ceiling glass windows and expansive terraces. Residents will enjoy state-of-the-art amenities such as a fitness and wellness centre, cinema, sports court, and a Skybar offering panoramic Thames views.

The development boasts an inviting rooftop garden and sets a new standard for Battersea waterfront living. Prospective buyers can now register their interest for this upcoming luxury residence.

*Please note images are CGI and are indicative only

The HiLight

BLVD, the next residential release at Melbourne Square is designed to engage and enhance the senses. Set on an elegant, tree-lined boulevard and surrounded by 3,745m² of lush green parkland in the heart of Southbank, this peerless inner-city address in an established and thriving precinct delivers resort-style amenities and elevated wellbeing

Melbourne Square - BLVD

Final 2-bedroom apartments in our first phase ready to move into this summer.

Enjoy a concierge, landscaped podium gardens and roof terrace in this landmark new development in north-west London.

This world-class destination offers a great choice of amenities on your doorstep, along with fast connections into central London in just 12 minutes from Wembley Park station next door.

New Release, Stephenson House, providing exceptional 1 & 2 Bedroom with views towards Wembley, from £411,000.

Wembley Park Gardens

<b>Bermondsey Place is a new build development by Berkeley -</b> comprising a mix of studios, 1, 2 and 3 bedroom apartments. Located within Zone 2, the development has quick and regular transport links to Central London. 

Bermondsey Place offers thoughtfully designed amenities tailored to contemporary living. The exclusive residents' business lounge serves as a refined extension of your home, making remote work effortless while fostering social interaction and collaboration. Stay fit in the state-of-the-art gym, where expansive floor-to-ceiling windows seamlessly blend indoor workouts with outdoor vistas, promoting a balanced and healthy lifestyle.

At the top of Bermondsey Place is the meticulously crafted roof terraces that cater to a spectrum of resident preferences. The elevated space seamlessly blend private sanctuaries with vibrant social spaces. Adorned with comfortable seating nooks, intimate play areas, and lush greenery featuring petite trees and shrubs, these terraces offer tranquil retreats. Here, residents can unwind in solitude, forge connections with fellow neighbours, or simply immerse themselves in the soothing embrace of nature, all while enjoying panoramic views of the surroundings.

These well-designed homes are set within 2.9 acres of new parkland and will have access to a range of cafe's, restaurants and creative businesses on site. Burgess Park is also located just moment's from Bermondsey Place providing access to over 140 acres of open green space with a wealth of play areas, running trails and sports facilities.

Bermondsey Place

<b>Prime Point: Modern Apartments in Greenwich with Central Park Views -</b> Completing This Year - Sales Suite Now Open

Discover Prime Point, an exclusive collection of Manhattan, 1, 2, and 3-bedroom apartments in Greenwich, London. Each residence features private outdoor space and stunning views of Central Park. Book a viewing today to experience premium London living.

Key Features: Prime Point offers an array of amenities designed to enhance your living experience. Residents can enjoy the convenience of a dedicated concierge service, perfect for managing day-to-day tasks and special requests. The development boasts beautifully landscaped gardens, providing a serene escape from the urban bustle. Stunning roof terraces offer panoramic views of the London skyline, while the residents' lounge provides a sophisticated space for relaxation and socialising. Each apartment features its own private outdoor space, allowing residents to enjoy fresh air and city views from the comfort of their homes. Prime Point's strategic location overlooking Central Park and surrounded by iconic landmarks ensures a prestigious address in one of London's most sought-after areas.

Prime Location: Prime Point's location offers unparalleled convenience and connectivity. North Greenwich Station, just an 8-minute walk away, places residents in Zone 2 with excellent transport links. Canary Wharf is a mere one stop away on the Jubilee Line, making it an ideal choice for professionals working in the financial district. The development also provides easy access to the Elizabeth Line, DLR, and beyond, ensuring seamless travel across London. The world-famous O2 Arena entertainment district is steps away, offering a plethora of dining, shopping, and entertainment options. For unique travel experiences, the nearby IFS Cloud Cable Car provides breathtaking Thames views, while the Uber Boat service at North Greenwich pier offers an alternative commute option. Nature enthusiasts will appreciate the riverside walking and cycling trails along the Thames Path, and Greenwich Park is just an 8-minute cycle away, perfect for weekend leisure activities.

Neighbourhood Highlights: The area surrounding Prime Point is rich with attractions and amenities. The O2 Arena, a landmark in its own right, hosts world-class concerts and events, complemented by a diverse range of shopping and dining options. Fashion enthusiasts will appreciate the designer outlet shopping, offering high-end brands at attractive prices. The neighbourhood buzzes with vibrant entertainment options, ensuring there's always something exciting to do. Perhaps most captivating are the scenic River Thames views, providing a constant reminder of London's historic and beautiful waterway.

Transport Connections: Prime Point's excellent transport connections make it an ideal choice for those who value easy access to all parts of London. With North Greenwich Station nearby, residents enjoy quick and convenient travel to Central London and beyond. The Jubilee Line provides swift access to key areas of the city, while connections to the Elizabeth Line and DLR open up even more possibilities for effortless commuting and exploration. Whether you're heading to work, meeting friends, or exploring the city, Prime Point's strategic location ensures you're always well-connected.

Shared Ownership homes are now available via L&Q Homes. Please note that, at this time, priority is given to households earning an annual income of up to £71,000.

Exclusively marketed by JLL Residential. Don't miss this opportunity to secure your new home in one of London's most desirable locations. Enquire now to be among the first to learn more about Prime Point apartments.

Prime Point

<b>Eastman Village: A Modern Community with Historic Roots -</b> A vibrant new residential development breathing fresh life into the former Kodak factory site. This community offers a perfect blend of contemporary living and rich industrial heritage.

Located just a short walk from Harrow & Wealdstone station, Eastman Village provides exceptional connectivity with a 12-minute journey to Euston and access to 5 rail and tube lines. On-site amenities include a concierge, gym, Sainsbury's Local, and inviting cafés, while over 6 acres of landscaped green space offer a refreshing urban retreat.

Families will appreciate the development's location in one of London's top 5 boroughs for 'Outstanding' schools. First-time buyers can benefit from our 5% deposit match offer, making homeownership more accessible.

Experience the balance of city connectivity and suburban tranquility at Eastman Village. This thoughtfully designed community caters to all your needs, whether you're commuting to the city center or enjoying local amenities. 

Contact JLL today to explore available properties in this exciting new development.

Eastman Village

<b>Waterfront living in North London -</b> A collection of 1-4 bedroom homes available. 

Surrounded by 170 hectares of green space and positioned along the Welsh Harp Reservoir, Hendon Waterside provides a picturesque active lifestyle. 

Experience a world of convenience, with an on-site Co-op, Starbucks and dental clinic. Take advantage of convenient travel links located close by and reach Camden Town in just 14 minutes & St Pancras in just 19 minutes, from Hendon Central Station.

Hendon Waterside

<b>The Wilderly, Elephant Park,  Elephant & Castle, Zone 1, London -</b> Welcome to The Wilderly, the final residential collection of homes at Elephant Park, surrounded by an urban garden oasis, and designed to stir your senses on every level. 
 
The Wilderly will offer purchasers a once in a generation opportunity to buy in the final phase of the vibrant town centre regenerated destination of Elephant and Castle, which has rapidly evolved into an established dynamic neighbourhood offering a cohesive mix of education, independent retail, creative dining, leisure, modern workspaces and vibrant arts.
 
Featuring an elegant collection of studios, one, two and three bedroom parkside residences in a serene garden setting, The Wilderly at Elephant Park, is a new sanctuary in the heart of the city, which also offers every amenity you need conveniently on your doorstep. Located in a graciously designed Zone 1 neighbourhood integrating excellent transport connectivity amongst cultural landmarks and universities, the area is fantastically unexpected but authentically London. 
 
A joint venture between Lendlease and Daiwa House, the Wilderly consists of 259 apartments across 2 adjoining buildings: an iconic 24-storey tower and 10-storey mansion building, which are both due to complete in 2026. 
 
Unrivalled amenities include a private parkside resident's garden, private landscaped roof terraces with 180° London skyline views, co-working spaces, wellness facilities and dining spaces. Further to this the development sits within an oasis of living, with communal green spaces designed for wellbeing with high-end aesthetics and eco-conscious design.  
 
Don’t miss one this last opportunity to buy a new home in one of central London’s most successful new regeneration areas. 

Purchase now - Register your interest.

The Wilderly, Elephant Park

<p>Located on the site of the former Kodak film factory, Eastman Village is part of a larger &pound;1.75bn improvement scheme in Harrow. The development will include schools, shops, leisure facilities, commercial space and two on-site gyms. The development will also create 3,000 jobs. Boasting five different train lines running into the capital, and a choice of more than 30 local schools in Harrow that have been given the top Ofsted rating of &ldquo;Outstanding&rdquo;, the development is set to be a prime investment opportunity. </p><p>Mandy Wong at JLL comments: &ldquo;We&rsquo;re continuing to see increased interest in Harrow from buyers in [region]. This is an exciting time for investors to make the most of the &pound;1.75bn improvement scheme in Harrow, which Eastman Village is a key part of. The regeneration of the site is not only providing a beautiful place to live that blends the rich history with modern and efficient living, but a prime investment opportunity the area achieving average rental yields of 4% and a forecasted 14% rental growth over the next 5-years.&rdquo;</p><p>This Fenton Apartments is 15-storeys tall and is one of the tallest buildings within the development. Apartments come in one-, two-, and three-bedroom layouts with spacious open-plan living and a balcony or terrace, providing residents with that all-important outdoor space. The interiors have been decorated with today&rsquo;s design trends in mind, complete with Crittall windows and bold coloured furniture. The development's ethos is reflected in the space, a mixture of old and new.&nbsp;</p><p>Residents in the upper floors of the apartments will enjoy breath-taking views of the surrounding area. Those who choose the southeast facing apartments will also be treated to a picture-perfect view of London&rsquo;s skyline every day. </p><p>Mandy continues: &ldquo;Harrow is a very sought after location which makes it a solid investment. It&rsquo;s a fantastic area for public transport connection, offering quick train services into central London from two stations; it&rsquo;s like living in zone two even though you&rsquo;re in zone five.&rdquo;</p><p>Fenton Apartments has the added benefit of being one of the nearest blocks to the train station at Eastman Village, making travel into central London easy. residents can reach Euston Station in just 12 minutes by train from Harrow &amp; Wealdstone station. Euston is ideally located just a 15-minute walk from the famous Regents Park, where London Zoo resides. The British Museum, University College London and St. Pancras International are all within walking distance from Euston, and a quick 6-minute underground journey will take residents to the iconic retail hub of Oxford Circus &ndash; where Liberty London, Nike, Hamleys and Apple are located. </p><p>Moreover, the new TfL Superloop, an express network of bus routes, will connect Eastman Village directly to Wembley, home to London&rsquo;s famous Wembley Stadium and Box Park.</p><p>There are 127 residences at the Fenton Apartments in 17 different layouts, featuring one-, two-, and three-bedroom apartment and duplexes. Prices start from &pound;350,000.</p>

Barratt London Unlocks Green Space and New Homes at Eastman Village

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In a nod to iconic British photographer Roger Fenton, Barratt London has announced the launch of the Fenton Apartments at Eastman Village – offering a selection of one, two- and three-bedroom apartments and duplexes.

<p>In a nod to iconic British photographer Roger Fenton, Barratt London has announced the launch of the Fenton Apartments at Eastman Village &ndash; offering a selection of one, two- and three-bedroom apartments and duplexes to prospective investors, situated in the heart of a top London redevelopment area.</p>

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<p>JLL today announced an exclusive partnership with Cathay to hold the first-ever "London on-site viewing tour". The tour, scheduled for August, will be led by local Cantonese-speaking property experts, offering participants an in-depth exploration of several highly anticipated premium projects in London, United Kingdom.<strong></strong></p><p>As an exclusive incentive, participants who undertake a tour of any of the four highlighted properties will receive a reward of 2,000 Asia Miles. Furthermore, those who purchase a new home through us within the specified timeframe will earn up to 168,000 Asia Miles (applicable for properties priced over GBP 3 million), eligible for redeeming a round-trip business class ticket between Hong Kong and London.</p><p>The tour will showcase four high-quality property projects:</p><ol><li><strong>Paddington Gardens (August 2):</strong>&nbsp;A luxury residential development situated at the heart of the Paddington Basin. The project has completed and takes just 5 minutes' walk to London Paddington station. </li><li><strong>The Founding, Canada Water (August 3):</strong>&nbsp;GBP 1 billion flagship regeneration masterplan, which is scheduled for completion in the winter of 2024. It takes 1 minute to walk to Canada Water Underground Station. </li><li><strong>One Thames Quay (August 9):</strong>&nbsp;A rising residential area of the Upper East Side of Canary Wharf, which will be completed in the third quarter of 2024. All apartments enjoy stunning views of Canary Wharf and the River Thames.&nbsp; </li><li><strong>Eastman Village (August 10):</strong>&nbsp;A high investment return development project in the Harrow area, which is scheduled for completion in the second and third quarters of 2025. About 98% of the nearby local schools Ofsted-rated 'Good' or 'Outstanding'. <br /></li></ol><p>During the tour, the experts will provide comprehensive presentations on the features of each property, surrounding amenities, as well as the characteristics of the United Kingdom's leading developers and the latest market overview. Participants will have the opportunity to enter the properties and observe the actual conditions at the time of handover.</p><p><strong>Mandy Wong, Head of International Residential at JLL in Asia Pacific</strong>, said: "This tour is more than just a site visit; it is a unique opportunity to gain deep insights into the London real estate market. Through first-hand experience and expert guidance, participants can comprehensively evaluate the investment potential of London properties, adding new options to their international asset allocation. Investors eyeing opportunities in the London real estate market should not overlook this unique tour that combines professional insights, on-site visits, and generous rewards. JLL cordially invites you to register without delay, seizing this invaluable opportunity to gain in-depth understanding of prime London properties and embark on your property investment journey in the United Kingdom."</p>

JLL partners with Cathay to hold the "London on-site viewing tour"

Event page

Expert-led tour coupled with rewarding miles: Unveiling a new era in UK property investment

<p><em>Expert-led tour coupled with rewarding miles: Unveiling a new era in UK property investment</em><strong></strong></p>

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<p>But as the removal vans manoeuvre into No. 10, many in the industry will be thinking about the housing market and what the incoming Labour government will bring. Of course, housing was high on the agenda in the run up to the election, but the vagaries
    of the manifesto will now need to make way for greater clarity. <strong></strong></p>
<p>The new Prime Minister had previously committed to turbocharging the housing market from &ldquo;day one&rdquo;. Realistically, we might be waiting a few days longer to find out Sir Keir&rsquo;s plans. But those close to the top have signalled an announcement
    could be a matter of a few weeks rather than a few months away. </p>
<p>They&rsquo;ll need to pull their socks up as building 1.5 million homes over the next parliament will be a Herculean task. The main plans touted so far have been a recruitment drive for planners, with the intention to recruit 300 additional planning officers
    to ease bottlenecks and get Britain building. Undoubtedly a recognition of the challenges in the planning process, in practice this is the equivalent of less than one planner per planning authority and may not be the game changer we really need (a
    step in the right direction though). </p>
<p>The term grey belt is also likely to enter the vernacular as Labour attempt to make developing on the greenbelt more palatable (their landslide victory and corresponding majority will help here).</p>
<p>Plans are afoot, too, for encouraging first-time buyer activity through further promotion of a mortgage guarantee scheme. However, the temporary increase in the first-time buyers stamp duty threshold (from &pound;300k to &pound;425k) won&rsquo;t be extended
    under Labour &ndash; although this mostly affects higher value markets.&nbsp; </p>
<p>Before we delve too deeply into what-ifs we&rsquo;ll need to wait and see what emerges in the coming weeks. Until then, let&rsquo;s look at what the new government are inheriting:</p>
<h2><strong>The economy</strong></h2>
<p>Whisper it quietly, but things might not be quite as bad as we thought. The new Labour government aren&rsquo;t inheriting an economy in rude health, but quarterly GDP growth for Q1 was revised up in June to 0.7% (from 0.6%), putting GDP 0.3% higher than
    it was a year earlier in Q1. </p>
<p>With growth revised up, expectations of economic growth at sub 1% in 2024 may be looking conservative. Oxford Economics expect 0.9% and consensus forecasters 0.5% this year, but we could well see these figures creep up as we move through the summer. </p>
<p>Despite CPI hitting the 2% target rate, stubborn services inflation has thrown some cold water on the prospect of multiple rate cuts this year.&nbsp; But we still expect the bank rate will be cut before the year end, meaning more favourable mortgage rates,
    which are already starting to creep into the market, continue to emerge in the second half of the year.</p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1720173441/resi/gb/Articles/Images/JLL-house-prices-labour.png" />
<h2><strong>House prices</strong></h2>
<p>House prices edged up in June, 0.2% higher month-on-month and 1.5% higher than they were at the same point a year ago. The latest figures from Nationwide show London was the only region in southern England where prices have risen in the last 12 months,
    up 1.6%. East Anglia saw the most significant annual fall at -1.8% with the North West and Northern Ireland both recording annual increases of 4.1% in Q2 2024. </p>
<p>House prices have risen 59% since Labour were last in power back in 2010. They are up 68% since they last won an election back in 2005 and up 353% since the last won an election in opposition back in 1997. In 14 years under the Conservatives (2010 to
    2024) prices have risen by 57%, versus 191% in the 13 years under Labour (1997-2010)<br /></p>
<h2><strong>Activity</strong></h2>
<p>Mortgage approvals for house purchase continue to hover around the 60,000 mark, around 10,000 (or 19%) higher than they were a year ago. Despite rising off a low base, activity remains around 15% down on long-run norms. </p>
<p>The number of transactions has risen too so far this year.&nbsp; The latest May figures show an estimated 91,660 sales, 24% (or almost 18,000) higher than volumes in May last year and just 2% shy of the 2015 to 2019 average.</p>
<p>The latest S&amp;P Global Construction Purchasing Managers&rsquo; Index (PMI) was released the day we went to the polls. The UK construction sector remained in growth territory for the fourth consecutive month in June, albeit dipping slightly month-on-month.
    Growth was led by the commercial sector, with housing, which had moved into positive territory for the first time in 19 months in May, dropping back in June.</p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1720173441/resi/gb/Articles/Images/JLL-rental-growth-price-growth.png" />
<h2><strong>Rents</strong></h2>
<p>As we enter the busy summer market for lettings, prices achieved on new lets, according to the latest June figures from Homelet, were up 6.9% nationally. London and the South West were the only regions where rents fell month-on-month but were still 4.9%
    and 3.4% higher annually. </p>
<p>Rental growth rates in London have finally dropped below wage growth, meaning the rent to affordability ratio dropped from 40% in January to 38.9% in May, but it remains 10 percentage points higher than it was a decade ago. </p>
<p>Results for the latest JLL Buyer and Tenant Survey highlight the challenge facing tenants, with half of the tenants surveyed spending more than 50% of their take home pay on rent each month, up from 45% in 2022.&nbsp; To read more from the latest JLL
    Buyer and Tenant Survey <a href="https://residential.jll.co.uk/insights/research/buyers-and-tenants-survey-2024">click here.</a></p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1720173440/resi/gb/Articles/Images/JLL-rent-to-income-ratio.png" />

Residential Roundup 5 July

architecture-close-up-1920x320[1]

The Labour Party have won more than 400 seats, giving them a comfortable majority in the 2024 general election.

<strong>The Labour Party have won more than 400 seats, giving them a comfortable majority in the 2024 general election.</strong>

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<p>We are please to release the latest JLL housing market forecasts in first half of 2024. Price falls, which we had forecast to see in early 2024 have largely failed to materialise, as more competitive rates entered the market. This means we now expect prices to rise by +2% nationally this year, compared to our previous forecast of -3% made in October 2023.</p><p>Lower value markets are expected to outperform this year. As rates improve, we expect London to lead, with growth in both Central and Greater London expected to be higher than the national average over the five-year forecast period.</p><p>Our research points to city centre markets as the primary driver of growth. The demand for urban living and the projected growth in households propel these markets forward over the five-year forecast period. As cities continue to attract young professionals and lifestyle seekers, the demand for rental properties in central locations is set to remain strong, contributing to the robust market performance.</p><p>More balance appears to be emerging across the rental market, as the gap between tenant demand and landlord instructions reached its lowest level in four years, according to the RICS Residential Market Survey. A net +33 of respondents expect rent rises in the next three months. Though high, this is the lowest reading since 2021. Despite this shift, JLL expects a continued imbalance and anticipates rent increases across all markets year-on-year for the next five-year period. According to our updated forecast, which account for 2024 as an election year, rents are expected to rise by 4.5% nationally in 2024, with growth of 18.8% between 2024 and 2028.</p><p>For more on our updated forecasts please download <a href="https://jll.box.com/s/ah2dmf602p106bio8l3gec6j7hh7pyfo">here</a></p>

JLL Residential Forecasts 2024-2028 update

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<p>1. South Bank Parklands</p><p>South Bank Parklands was one of my go-to spots, whether for a relaxing day out or a fun-filled adventure with friends.</p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1716389876/resi/international/Insights/Living-In-Brisbane.jpg" v:shapes="Picture_x0020_1" /></p><p>Streets Beach: This man-made beach in the heart of the city is absolutely perfect for those hot Brisbane days. I loved spending lazy afternoons here, cooling off in the water and soaking up the sun.</p><p>&nbsp;Cultural Venues: The Queensland Art Gallery and Gallery of Modern Art (QAGOMA), Queensland Museum, and the State Library of Queensland were regular haunts for me. They always have fascinating exhibitions and events. </p><p>Dining: The riverfront dining options are fantastic. From casual eateries to high-end restaurants, South Bank has it all. I particularly enjoyed the weekend markets, where you can find amazing local produce and unique artisanal goods.</p><p>Entertainment: The Wheel of Brisbane offers stunning views, especially at sunset. South Bank also hosts various festivals, concerts, and outdoor movie nights, making it a lively place to visit any time of the year.</p><p>2. Cycle or Walk Along the Brisbane Riverwalk</p><p>The Brisbane Riverwalk is perfect for staying active while enjoying the city&rsquo;s natural beauty.</p><p>Cycling: Renting a share bike (or scooter) and riding along the river was one of my favorite activities. The scenic views of the city skyline and the Story Bridge are simply breathtaking. </p><p>Walking: The Riverwalk is equally great for a leisurely stroll or jog. With plenty of benches and shaded spots, it&rsquo;s an ideal place to unwind. I loved jogging here during the early evenings &ndash; the city views are amazing and can be reached from
    Kangaroo Point.</p><p>Water Activities: Kayaking or paddleboarding on the Brisbane River offers a unique perspective of the city. There are several rental spots and guided tours available, making it easy to explore the river.</p><p>3. Discover Fortitude Valley&rsquo;s Nightlife</p><p>Fortitude Valley, or &ldquo;The Valley,&rdquo; is Brisbane&rsquo;s nightlife hub and was my favorite place for a night out.</p><p>Live Music: The live music scene in The Valley is incredible. Venues like The Tivoli and The Triffid host fantastic gigs, and there&rsquo;s always something happening. I discovered so many great bands and artists there.</p><p>Bars and Clubs: The Valley is packed with trendy bars and clubs. Whether you want to enjoy cocktails at a rooftop bar with stunning city views or dance the night away at an underground club, The Valley has something for everyone. Felon&rsquo;s is just
    across the Story bridge and has a lot of good food options and lawn seating great for a lazy weekend afternoon with a great view of the story bridge and the city.</p><p>Dining: The food scene in The Valley is just as vibrant as the nightlife. From gourmet restaurants to street food stalls, there&rsquo;s so much to explore. Chinatown is a must-visit for authentic Asian cuisine.</p><p>4. Visit the Brisbane City Botanic Gardens</p><p>The Brisbane City Botanic Gardens was my go-to spot for some peace and tranquility in the city.<br /></p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1716389879/resi/international/Insights/Living-In-Brisbane2.jpg" v:shapes="Picture_x0020_1" /></p><p>Gardens: Wandering through the beautifully landscaped gardens was always a treat. With exotic rainforest trees and colorful flowerbeds, it&rsquo;s a perfect place to relax and recharge.</p><p>River Access: The gardens are situated along the Brisbane River, offering picturesque views. Sometimes I&rsquo;d bring a kayak and paddle along the river or take a river cruise to see the city from a different angle.</p><p>Events and Activities: The Botanic Gardens host various events like guided walks, workshops, and outdoor yoga classes. It was always fun to join in on these activities and meet new people.</p><p>5. Shop and Dine at Queen Street Mall</p><p>Queen Street Mall is an outdoor / indoor shopping &amp; dining area in the heart of the city.<br /></p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1716389876/resi/international/Insights/Living-In-Brisbane3.jpg" v:shapes="Picture_x0020_1" /></p><p>Shopping: The mall has everything you need, from high-end boutiques to local shops. I loved wandering around and discovering unique items. </p><p>Dining: The dining options are endless, from casual cafes to fine dining. Whether you&rsquo;re in the mood for a quick snack or a gourmet meal, you&rsquo;ll find it here. The mall often has live entertainment, which adds to the lively atmosphere, too.</p><p>6. Escape to the Sunshine and Gold Coasts</p><p>One of the best things about living in Brisbane is its proximity to some of Australia&rsquo;s most beautiful coastal areas.</p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1716389884/resi/international/Insights/Living-In-Brisbane4.png" v:shapes="Picture_x0020_1" /></p><p>Sunshine Coast: Just a short drive north, the Sunshine Coast is perfect for a day trip or weekend getaway. I loved visiting places like Noosa, with its stunning beaches, great surf, and vibrant dining scene. The coastal walks and national parks are fantastic
    for hiking and spotting wildlife.</p><p>Gold Coast: Head south, and you&rsquo;ll find the Gold Coast, famous for its surf beaches, theme parks, and nightlife. Surfers is always bustling with energy, and the beachfront markets are great for a stroll. I also enjoyed exploring the hinterland,
    with its rainforests and scenic lookouts.</p><p>7. Hiking in the Glass House Mountains</p><p>If you love the outdoors, you&rsquo;ll find plenty of hiking opportunities around Brisbane, and the Glass House Mountains are a standout.</p><p>Hiking Trails: The Glass House Mountains offer a range of trails for all levels of hikers. Mount Ngungun is one of my favorites, with a relatively easy climb and rewarding views from the top. It&rsquo;s a great spot for a sunrise hike.</p><p>Nature and Wildlife: The area is rich in natural beauty and wildlife. Keep an eye out for native birds and enjoy the tranquility of the forests. The hiking trails are well-marked and maintained, making it a safe and enjoyable experience.</p><p>Day Trips: The Glass House Mountains are just an hour&rsquo;s drive from Brisbane, making them perfect for a day trip. Pack a picnic and enjoy a day immersed in nature.</p><p>Final Thoughts</p><p>Living in inner-city Brisbane was an absolute joy &ndash; something I&rsquo;ll definitely do again! The city&rsquo;s vibrant energy and endless activities made every day an adventure. Whether you&rsquo;re exploring cultural venues, enjoying the nightlife,
    taking day trips to the coast, or hiking in the mountains, there&rsquo;s always something fun to do. Brisbane is a fantastic place to live. If you ever get the chance to experience it, I highly recommend it!</p>

Living in Inner City Brisbane: Top 7 Fun Lifestyle Activities

Here are some of my favorite activities and spots that made living in Brisbane so memorable.

<p>Hey there! I used to live in Kangaroo Point, I really enjoyed living along the river and the inner city lifestyle, as well as being a short drive to beaches and the countryside. It was one of the most vibrant, relaxing and exciting places to call home. Here are some of my favorite activities and spots that made living in Brisbane so memorable.</p>

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<p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1714129880/resi/international/Insights/Barratt_Royal_Gateway.jpg" v:shapes="Picture_x0020_1" /></p><p>Following an increasing demand seen for UK investment opportunities, UK&rsquo;s leading property developer, Barratt London, will be launching Royal Gateway to Hong Kong investors on 11<sup>th</sup> and 12<sup>th</sup> May 2024. Royal Gateway is located
    in the popular hotspot of Acton, in the thriving London Borough of Ealing. The development will offer 300 new apartments with a range of amenities and access to White City in 5 minutes, Paddington in 7 minutes, Bond Street in 11 minutes and Heathrow
    Airport in less than 20 minutes. The area&rsquo;s regeneration plans include a new high street and two major campuses for Imperial College.</p><p>Following the success of its now fully completed Western Circus development nearby, Barratt London is launching off-plan sales for its latest project with first completions due in 2026. The four-acre brownfield site will be transformed into 300 one, two
    and three-bedroom apartments and penthouses.&nbsp;</p><p>Set amongst landscaped gardens and benefitting from a host of amenities, the development will offer three private roof terraces with sweeping views of the Capital, concierge, gym, residents&rsquo; lounge and play areas. While these may be commonplace
    in prime central London, the provision of a resident&rsquo;s lounge is less common for Zone 3 and will help to provide future residents with convenience and peace of mind.</p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1714129880/resi/international/Insights/Barratt_Royal_Gateway2.jpg" v:shapes="Picture_x0020_1" /></p><p>Royal Gateway is set across six red and buff brick buildings, reaching up to 16 storeys and providing panoramic views across London. Notable architects Allies and Morrison have designed most of the apartments to offer dual aspect and all courtyard facing
    homes are surrounded by green open spaces. In a nod to the development&rsquo;s regal title, each building will be named after a different gem cut &ndash; the first phase named Marquise Residences.</p><p>Inside, every home will be bright and inviting, with large windows, designed to let in plenty of natural light. Living spaces open onto a balcony or terrace, extending living spaces and helping to bring in the outdoors. With Barratt London&rsquo;s careful
    attention to detail and finishes on the inside, the layouts offer versatile living space with room for a home-working area to suit hybrid workers.</p><p><img src="https://res.cloudinary.com/global-cms-assets-np/image/upload/v1714129880/resi/international/Insights/Barratt_Royal_Gateway3.jpg" v:shapes="Picture_x0020_1" /></p><p>North Acton is set to undergo huge regeneration over the coming years, with &pound;26 billion earmarked for its future. The wider 1,600-acre regeneration masterplan is the largest of its kind in the UK. Alongside thousands of new homes, the regeneration includes plans for a new high street and two major campuses for Imperial College. Since work began on the Elizabeth Line (formerly Crossrail) in 2009, average prices in W3 have jumped 117%, according to JLL, to an average of &pound;675,000. This rise outperforms the rest of Ealing, up 98% in the same period, and the London average of 104%. Elizabeth Line postcodes have also seen a steep rise in rental yields with a 19% hike for homes near the Acton Mainline in the last year.<sup>[1]</sup></p><p>Ealing is the fourth largest borough in London in terms of population size and has seen growth of 8.5% in the decade to 2021 (higher than the England average of 6.6%), marking the popularity of this diverse, multicultural and vibrant part of London. The borough is also affectionately known as &lsquo;Queen of the suburbs&rsquo;. By 2046, the number of households in Ealing is projected to have grown by 23% in 25 years, so there is likely to be significant, ongoing demand for rental property in the area<sup>[2]</sup>.</p><p>Part of the reason for the area&rsquo;s popularity are the fantastic transport connections, so being car-free is an easy lifestyle choice to make. The area acts as a gateway to London. Royal Gateway is a short walk to North Acton tube station on the ultra-convenient Central Line and also Acton Main Line station, served by the new Elizabeth Line, offering services to White City, Bond Street, Canary Wharf and London Heathrow Airport. </p><p>Once HS2 is fully operational, nearby Old Oak Common will be the best-connected and largest railway station ever built in the UK. The new super-hub will provide high-speed rail services to the Midlands, Scotland, the North, alongside Wales and the South-west, with additional access to central London and Heathrow via the Elizabeth Line.</p><p>Acton also offers a great place to live and work, with major companies such as clothes brand Boden, Danone, PepsiCo and Paramount Pictures based in Acton or the nearby Chiswick Business Park. Churchfield Road, in the heart of Acton, is home to a number of independent shops and cafes. Families will be impressed by the wide selection of schools, with 152 schools in the Acton area rated as Outstanding or Good by Ofsted within a three-mile radius. It is also within two miles of the Imperial campus at White City.</p><p>Acton residents are surrounded by wonderful, nearby neighbourhoods such as Notting Hill, White City, Shepherds Bush and Ealing. As a borough, 44% of Ealing&rsquo;s land area is covered by green space, including Acton Park, with its putting green, skatepark and tennis courts and the 24 green flag rated parks and wide-open spaces, including North Acton Playing Fields. The borough of Ealing came in fifth place in the whole of London for biodiversity according to a study of trees reported by CBRE.</p><p>Barratt London already has a proven track record in Acton after the completion of Western Circus, a scheme that helped kickstart the area&rsquo;s transformation. Following on from that success, Royal Gateway brings thoughtfully designed, high-quality apartments created for those who prize community, connectivity and having everything at their fingertips.</p><p>Craig Carson, Managing Director at Barratt West London, said: &ldquo;Acton is one of London&rsquo;s most well-connected spots, with a plethora of fast transport links that will only be boosted once Old Oak Common opens. Royal Gateway will build on an already vibrant community, providing a diverse range of housing options for everyone from young professionals to investors. With the potential for good capital growth and high rental demand for investors, we anticipate strong demand for new homes when we launch off-plan in May.&rdquo; </p><p>Neil Bowron, Senior Director at JLL adds: &ldquo;With an exceptional design, amenities and location, this latest launch from Barratt London is not only a prime investment product, but with its capital value it is the perfect owner/occupier opportunity too. What&rsquo;s more, property values in Acton have experienced consistent price growth over the last five years rising by 40% and outperforming Greater London by 13%. All eyes are definitely on Acton at the moment, with &pound;26bn being invested in the local area, the new High Speed 2 super-hub opening at Old Oak Common, combined with ease of access to Imperial College, we believe that real estate in North Acton will continue to offer a solid investment proposition.&rdquo; </p><p>There are 300 new homes at Royal Gateway, from one-bedrooms to three-bedroom family homes, each one with a balcony or terrace. Prices start from &pound;450,000. To find out more, WhatsApp JLL: <a href="https://wa.me/85293163620">https://wa.me/85293163620</a>.&nbsp;</p><p></p>

Barratt London Launches Royal Gateway

Barratt London's latest development provides Hong Kong investors with a unique investment opportunity to be part of the biggest regeneration project in the UK

<p align="center">Barratt London's latest development provides Hong Kong investors with a unique investment opportunity to be part of the biggest regeneration project in the UK</p>

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Residential Roundup

<div>There are few who would question the need to deliver more homes. Research from Centre for Cities suggests Britain has a 4.3 million home deficit compared with the average European country. Meaning we would need to build almost 450,000 homes per annum over the next 25 years to satisfy future demand and address the historic deficit. At present we struggle to hit 200,000.</div>

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Residential Roundup - 1 September

Picking through the array of economic indicators and deciphering what this might mean for the UK economy

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<h2><strong>Q2 2023 Sales Index</strong><br /></h2><p>The JLL Prime Central London Index saw prices fall for the third consecutive quarter.&nbsp; The Q2
   2023 index recorded a quarterly fall of 2.1%, with prices 5.9% down compared with the same period in 2022. Prices are
   now 6.8% lower than
   they were when prices peaked in the third quarter last year.&nbsp; </p><p>The upper echelons of London&rsquo;s prime market are proving more resilient. With prices down 0.8% in the 12 months
   to June 2023 compared with a 6.7% fall in homes priced at under &pound;2 million (likely to be most impacted by
   changes in interest rates).
</p><p>Despite sentiment impacting prices we saw deals agreed (exchanges) increase in an admittedly slow Q1 this quarter,
   with a 28% increase in sales in Q2 2023.&nbsp; With volumes on par with Q2 2022 (down -1.2%). </p><p>Stock levels rose in Q2, with 8.3% more properties on the market than in Q2 2022 and 9.7% more than at the end of the
   first quarter this year. Stock on the market is now at the highest level since the end of Q2 2020. </p><h2><strong>Q2 2023 Lettings Index</strong></h2><p>The uncertainty which is hampering activity in the sales market often has the opposite effect on
   lettings. With households more likely to stay in rented for longer or choosing to rent when delaying their decision
   to buy. Just over half
   (51%) of JLL deals agreed in Q2 2023 were renewals, up from 45% a year ago and 24% in Q2 2021. This was the highest
   rate of renewal since Q2 2020. </p><p>The number of new lets rose this quarter compared with last, up 13%.&nbsp; But the second quarter is usually more
   active than the first. Comparing new lets agreed (excluding renewals) in the second quarter this year with Q2 last
   year showing there were
   18% fewer deals agreed, with the number agreed down 35% compared with the Q2 five-year average.</p><p>This quarter the JLL Prime Central London Index saw rents rise by 1.9%, with rents 5.4% higher than they were at the
   same point a year ago. Small flats (1 and 2 beds) saw this highest annual increase in rents at 6.7% whereas more
   expensive properties
   (&pound;3,000 per week or more) saw a more modest 2.9% annual increase. </p><p>Rents are now 26% higher for one-bedroom flats (which have seen the highest growth) than they were three years ago at
   the end of Q2 2020. With the JLL Prime Central London Rental Index 19.2% higher overall over the last three years.
</p><p>For prospective tenants having to contend with low stock levels there appears to be some respite as we move into the
   summer. Stock levels are starting to increase, albeit off a low base. With the number of rental properties listed to
   let at the end of
   Q2 2023 up 13.8% on the same point in 2022. But volumes remain 55% down on levels we were seeing pre-pandemic in Q2
   2019. </p><h2>All Source: JLL/ LonRes</h2><p><strong>Our JLL Prime Central London Index is based on a &lsquo;basket&rsquo; of properties, valued by JLL at the end
      of each quarter. </strong></p><p><strong>Director of UK Residential Research at JLL, Marcus Dixon, explains: </strong></p><p><em>&ldquo;The implications of stubborn inflation on the UK mortgage market are hampering activity in prime central
      London. While fewer buyers are heavily indebted - almost half buy cash - uncertainty surrounding the short-term
      outlook is impacting prices. </em><em></em></p><p><em>&ldquo;The lettings market remains competitive, stock levels have improved on their 2022 lows but there are still
      more prospective tenants than there are properties. This has resulted in further rent increases this quarter, with
      rents almost 20% higher than they were in 2020.</em><em></em></p><p><em>&ldquo;The lower end of the rental market continues to see a steady stream of (formerly) prospective buyers
      moving across into lettings. With smaller properties, mainly one- and two-bedroom flats, recording the highest
      annual increase in rents, while prices for similar properties are seeing more significant falls than homes in more
      expensive price bands.&rdquo;</em></p>

JLL – Prime Central London (PCL) Index – Q2 2023

The recent rise in interest rates does not impact all sectors of the housing market equally.

Prime Central London (PCL) Index – Q2 2023

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Affordable and attractive London hotspots for First Time Buyers

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House prices have risen significantly nationally over the last three years, and it feels as if the first step onto the housing ladder has become more challenging. Despite this, the dream of owning their first home for many is not dwindling.

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Spotlight on Cambridge

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JLL Residential - Spotlight on Cambridge&nbsp;

JLL Residential - Spotlight on Cambridge

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<p><strong>The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months in response to higher borrowing costs and uncertain market sentiment. But the outlook for the next 12 months remained more positive. </strong></p>
<p><strong>Over the longer term there is a clear commitment from both Labour and the Conservatives to support home ownership. But until we see rates top out, we expect the market to continue to tread water. This means lower levels of activity, but prices will, we expect, remain more resilient as a lack of distress and high levels of equity act as a buffer to more challenging economic conditions. </strong></p>
<h2>The economy</h2>
<p>The outlook for the UK economy is improving, with the IMF upgrading their 2023 UK forecast. Echoing recent announcements from the Bank of England the IMF no longer expects the UK will fall into recession this year, with their latest forecasts expecting
    GDP will rise in 2023. Growth is expected to be modest at +0.4% but reflects a welcome venture into positive territory following the previous -0.3% forecast in April. This improved outlook means the UK no longer sits at the bottom of the list of G7
    economies for 2023, now moving ahead of Germany.</p>
<p>But inflation is still proving stickier than many had hoped. Rates have fallen, with single digit annual increases for the first time since August 2022. It was always anticipated that rates would drop back this month, with the impact of rising energy
    costs priced into rates a year ago, but the 8.7% annual increase remained higher than the Bank of England and many forecasters had anticipated.</p>
<p>Further falls in energy costs in the coming months will help to bring inflation down further, but annual food price inflation remains at 19.1% according to the latest ONS figures.</p>
<p>Core inflation (calculating the rise in costs when energy and food, alcohol and tobacco are stripped out) rose by 6.8% in the year to April, up from 6.2% in March. With the recent increase in five-year swap rates and stubbornly high inflation meaning
    a further rise in Bank Rate at the June MPC appears more likely.</p>
<h2>New development</h2>
<p>Activity in the new homes market remains muted. While schemes on site continue to deliver homes, levels of new starts have dropped and activity in the sector has been more subdued in Q1. The National House Building Council (NHBC) reported new build completions
    fell 7% annually in Q1 2023 but the number of new homes registered to be built fell 40% to less than 28,000. This follows news that new applications in 2022 fell 14% on 2021 levels, now at their lowest level since 2006, according to figures from the
    DLUHC. In London, Molior reports constructions starts down 43% on Q1 2022.</p>
<h2>House prices</h2>
<p>Considering the considerable change that has been thrust upon the UK housing market this year it remains remarkably robust. Activity has dropped back, but we are starting to see the reaction to the initial interest rate and sentiment shock following the
    mini budget recede, as prospective buyers re- enter the market. With time on the market and mortgage approvals all starting to recover from the lows of late 2022 and early 23.</p>
<p>Low levels of unemployment, wage growth (albeit mostly below inflation), and more equity within the market all mean forced sales are less prevalent. But for those who are looking to transact in this market there does need to be some realism about prices
    and additional cost facing purchasers.</p>
<p>The latest Land Registry figures show all regions saw a monthly fall in prices in March, with prices UK wide 1.2% lower than in February, the fourth consecutive monthly fall. Prices are now 2.4% below their November peak but remain 4.1% higher than they
    were a year ago.</p>
<p>After seven consecutive monthly falls the Nationwide reported house prices rose 0.5% in April, but prices dropped back marginally in the latest May figures, down 0.1% month-on-month with prices falling annually by -3.4%, now -4% lower than they were at
    the peak last summer. The Halifax reported at -0.3% fall in April, following a rise of 0.8% the previous month, with prices on par (+0.1%) with April 2022. First time buyer activity is proving more resilient than expected, with a competitive rental
    market driving those who can to buy instead.</p>
<p>Falls in achieved prices show higher rates and rising costs are impacting the housing market, although both activity and prices appear more resilient than many had expected. The latest figures from Rightmove show asking prices rose in May, up 1.8%, higher
    than the usual 1.0% May figure.</p>
<p>Uncertainty over rates appears to have put the brakes on the recovery in mortgage approvals posted in March. Seasonally adjusted figures from the Bank of England showing the number of mortgages approved for house purchase fell by 5%, from 51,500 in March
    to 48,700 in April. The average rate on new mortgages rose to 4.46% in April, up 5 basis points on March figures. Overall borrowers repaid &pound;1.4bn more than was lent in April 2023, which aside from the pandemic was the biggest net repayment on
    record.
</p>
<h2>Rents</h2>
<p>The rental market continues to record near double digit growth in rents on new lets. The Homelet Rental Index showing annual rental growth remains strong at 9.9% across the UK in April 2023, with a current average rent of &pound;1,199, 1.3% higher than
    the March figure. London saw rents rise annually by 11.0%, with average rents on new lets exceeding &pound;2,000 per month. Scotland saw the highest annual increase, with rents on new lets rising 12.1%.</p>
<h2>Global view</h2>
<p>In the US, the Federal Reserve increased its key interest rate by 25 basis points, pushing its benchmark rate to between 5% and 5.25%. This is the tenth time rates have increased since March 2022. Rates could be topping out though with the Fed hinting
    at a pause on further rate rises when they next meet in June.</p>
<p>Singapore has announced a doubling of its Additional Buyer Stamp Duty. Overseas buyers purchasing a property in Singapore will now pay 60% tax on their purchase, with those buying using a trust will pay 65%. Permanent residents buying second homes in
    the city will also pay more.</p>
<h2>What&rsquo;s new from JLL</h2>
<p>Our latest Prime Central London report shows rents rose again in Q1 2023, but prices have dropped 4.3% compared with Q1 2022. Read more <a href="https://residential.jll.co.uk/insights/research/prime-central-london-q1-2023">here </a></p>
<h2>JLL Research | May 2023</h2>
<p>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000. With over 7,000 employees and 15 offices
    in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing,
    building management and sales.</p>
<p>JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare
    and student housing.</p>
<p><sup>Disclaimer: <sup>&copy;</sup>2023 Jones Lang LaSalle IP, Inc. All rights reserved.Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or
    warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any
    form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves
    the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</sup>
</p>

JLL Residential Market Update – May 2023

market-update-may-23

<strong>The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months in response to higher borrowing costs and uncertain market sentiment.</strong>

The housing market remains more resilient than many had anticipated. The latest results from the RICS Survey show market conditions remain challenging, with agents still expecting prices to fall in the coming months.

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label="£700,000"
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value=1000000
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value=2000000
[max.12]
label="£3,000,000"
value=3000000
[max.13]
label="£4,000,000"
value=4000000
[max.14]
label="£5,000,000+"
value=5000000

Sale - Price

Price

title="Price"
metric="£"
type="minmax"
name="Price"
order=1

[min]
[min.0]
label="No Min"
value=""
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label="£1,000 pcm"
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[min.2]
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label="£4,000 pcm"
value=4000
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label="£5,000 pcm"
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value=6000
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label="£7,000 pcm"
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label="£8,000 pcm"
value=8000
[max.9]
label="£9,000 pcm"
value=9000
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label="£10,000+ pcm"
value=10000

Resale - Price

title="Beds"
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value=6
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value=8

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label="8+ bedrooms"
value=8

Bedrooms

Beds

title="Property Type"
metric="propertyType"
type="select"
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placeholder="Any Type"
order=3

[[options]]
label="Any Type"
value=""
[[options]]
label="Flats"
value="flats"
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label="Houses"
value="houses"

Property Type

type

title="Country"
type="checkboxes"
name="flags"
order=4

[[options]]
label="United Kingdom"
value="United Kingdom"
[[options]]
label="Japan"
value="Japan"
[[options]]
label="UAE / Dubai"
value="United Arab Emirates"
[[options]]
label="Australia"
value="Australia"


Sale - Options

flags

Country

title="Options"
type="checkboxes"
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order=4

[[options]]
label="Short Term"
value="short-term"
[[options]]
label="Furnished"
value="furnished"
[[options]]
label="Unfurnished"
value="unfurnished"

Rent - Options

Options

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<p><strong>&nbsp;</strong></p><p><strong>PRIVACY NOTICE</strong></p><p>Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.</p><p>Generally the personal information we collect from you are for the purposes of dealing with your enquiry.</p><p>We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes
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