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The head of lettings agency Benham and Reeves has made an outspoken attack on stamp duty. The agency analysed data from the Land Registry for homes sold over the last 12 months, calculating the total stamp duty owed on these transactions and how this cost differs across each area of the nation.

The latest index by London agency Benham and Reeves shows that buyer demand for both prime (£2m+) and super prime homes (£10m+) has fallen during the first quarter of the year.

Homebuyers have paid out almost £3.7bn in stamp duty over the year to February, new analysis by Benham and Reeves of Land Registry data has shown. The London lettings and estate agent found that buyers in the capital paid an estimated £1.49bn, accounting for more than 40% of the total for England and Wales.

“It’s clear that nation’s homebuyers are marching on, determined to realise their aspirations of homeownership in 2024, regardless of higher mortgage rates and a lack of any Government offered incentives" Says Marc von Grundherr, Benham and Reeves.

Marc von Grundherr, of estate agents Benham and Reeves, said: “As we approach the spring selling season a very marginal decline in the monthly rate of house price growth should be viewed as nothing more than the market pausing for breath before the floodgates open.

Research conducted by Benham and Reeves shows there are some 261,189 homes that have been classed as empty for six months or more across England.

He was echoed by director of estate agency Benham and Reeves, Marc von Grundherr, who said buyer confidence was building despite the "disappointment" of no extra housing market support being announced in the Spring Budget. Price remains the key compromise for sellers when it comes to securing a buyer in today's market, with higher mortgage rates continuing to restrict buyer purchasing power. However, the gap between this purchasing power price point and seller asking price expectation has narrowed and we’re finding that sellers are more than happy to oblige in order to make their move."

Marc von Grundherr, director of Benham and Reeves, agreed that making sure an asking price was realistic in the first place remains key, especially if the seller is keen to move home quickly.“Price remains the key compromise for sellers when it comes to securing a buyer in today's market, with higher mortgage rates continuing to restrict buyer purchasing power,” said Grundherr.

“The higher cost of borrowing remains an obstacle, but one that buyers are now willing to tackle with the expectation that rates will fall at some point this year,” said Marc von Grundherr, director of London-based estate agency Benham and Reeves. Still, “price remains the key compromise for sellers when it comes to securing a buyer in today’s market,” he added.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “Previously, the ability to find a buyer in a proceedable position was a challenge in itself and so there’s no doubt that market conditions have improved in this respect.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “It will give you control of your building without the need to spend money on purchasing the freehold.”

Of course, for the average London tenant, the threat of a stamp duty tax bill is unlikely to ever materialise. In fact, the research by Benham and Reeves shows that based on the current average monthly rent, it would require the average tenant to rent a property for a decade (with a successive linked lease) before they became liable to pay stamp duty tax. Even when they did, this charge would amount to just £428.

The director of Benham and Reeves, Marc von Grundherr, says: “Stamp Duty Land Tax is an archaic thorn in the side of homebuyers across the nation and only increases the financial obstacles faced when it comes to climbing the property ladder. However, what you may not know is that tenants are also liable to pay stamp duty, albeit the threat is largely restricted to those renting at the very highest rungs of the rental market.”

Marc von Grundherr, director of Benham and Reeves, added: “Continued certainty is no bad thing but homebuyers are crying out for some form of relief, particularly in London where the combination of high house prices and high mortgage rates are dampening purchasing power to the greatest extent. Today was the last chance to offer some form of stimulus to help supercharge the spring surge in market activity and while we still expect an uplift in market activity, many buyers will remain on the fence until such time an interest rate reduction materialises.”

Marc von Grundherr, director of London based agent, Benham and Reeves said: 'While it certainly seemed as though the London market was struggling to recover at the same rate as the rest of the UK, the latest figures show that the capital has enjoyed a substantial increase in property values during the start of this year.

Marc von Grundherr, director of estate agent Benham and Reeves said: "While mortgage affordability remains an issue, it certainly hasn't dampened the appetite of London buyers and we've continued to see a high level of activity at all price thresholds, but particularly across the super-prime market.

Marc von Grundherr, director of Benham and Reeves, said: “While base rate holds have certainly helped to stabilise the market, high mortgage rates have continued to limit buyer purchasing power across the capital, with London home to the highest average house price of all regions."

Marc von Grundherr, who is the director at estate agent Benham and Reeves, said: "While mortgage affordability remains an issue, it certainly hasn't dampened the appetite of London buyers and we've continued to see a high level of activity at all price thresholds, but particularly across the super-prime market. Buyers at the very top end of the ladder are acting with great confidence, with the higher cost of borrowing not presenting the same obstacle as the average homeowner."

Benham and Reeves analysed sold price data from the Land Registry looking at sales to have completed across the London market (Jan to Dec 2023 - latest available), which boroughs proved the most popular and what property type was most sought after.

Marc von Grundherr, director of Benham and Reeves estate agents said: 'While mortgage affordability remains an issue, it certainly hasn’t dampened the appetite of London buyers and we’ve continued to see a high level of activity at all price thresholds, but particularly across the super-prime market.

Wandsworth, an affluent neighborhood in south London, was the city’s busiest borough for home sales over the last year, accounting for 6% of the 48,278 homes that were sold across England’s capital last year, according to a report by Benham and Reeves.

It was 'a difficult year for the London property market,' says Benham & Reeves, yet almost 50,000 homes still changed hands in the capital through 2023 - with just two boroughs accounting for more than 10% of these transactions between them.

Recent research by London estate agents Benham and Reeves found that 5.1% more £10 million+ properties have come on the market in the year to February 2024.

A Hampstead house which served as an early base for the architects behind the Gherkin and Pompidou Centre has been put up for sale for the first time in 80 years.

"The owners have said that [the architects] would work at the desks against the wall of glazing,” says sales manager Jeremy Stecker of Benham & Reeves, which has listed the property for £4 million.

For the fifth month in a row, home prices in the U.K. have increased from the previous month, with prices up 0.4% in February, according to Halifax’s House Price Index, released on Thursday. “Yet further proof that the property market is back on track with a fifth consecutive monthly increase demonstrating that real momentum is now starting to build,” said Marc von Grundherr, director of Benham and Reeves.

Marc von Grundherr, of Benham and Reeves called it “further proof the property market is back on track. While many homebuyers will have been disappointed to see yet another Budget providing no incentives to transact in what continues to be a more challenging market, it’s clear that the Chancellor’s cold shoulder won’t impact their appetites to purchase in 2024,” he said.

There has been a sharp increase in the number of homeowner housebuilders operating in the current market, the latest research by Benham and Reeves has revealed. Benham and Reeves analysed Government data on both the current and historic level of dwellings completed across England and the level of householder development decisions submitted as a proportion of all decisions.

Signifying a post-pandemic resurgence for city living, research by London estate agents Benham & Reeves also shows that rental demand has maintained momentum, with enquiries up by 12% last year from two years prior.

Marc von Grundherr, director of Benham and Reeves, said: “Buyer indecision has been the biggest factor slowing the property market over the last year and who can blame them with interest rates climbing and mortgage offers changing by the day.

Director of Benham and Reeves, Marc von Grundherr, added: “Buyer indecision has been the biggest factor slowing the property market over the last year and who can blame them with interest rates climbing and mortgage offers changing by the day. However, we simply haven’t seen the same level of hesitation in recent months and market stability has improved notably since interest rates were first held in September of last year. This confidence boost has naturally led to an increase in mortgage approvals and sellers are already starting to benefit from a greater degree of interest and an increase in the number of offers submitted.”

Benham and Reeves analysed the latest government house price data, looking at the average value of both a freehold and leasehold home across each region of England and Wales and how the premiums commanded by the latter have changed when compared to the previous year.

The partnership between Barratt London and Benham & Reeves India is not just about selling properties; it's about building lasting relationships and trust. This is evident from the meticulously planned events and engagements that have been organized in India, offering potential investors firsthand information and direct access to expert advice.

In a strategic move set to redefine the landscape of Indian investment in the UK real estate market, Barratt London, a key player in the UK’s housing industry, has forged a partnership with Benham & Reeves India. This collaboration comes at a time when London continues to be a preferred destination for Indian investors seeking safe and lucrative opportunities.

That compares with just 1% for the UK as a whole. But within that overall figure, the performance of individual boroughs varied enormously, according to data today compiled by agents Benham and Reeves. Prices fell in 26 boroughs and the City of London with the biggest declines seen in the most expensive neighbourhoods.

Prime Central London boroughs Westminster and Kensington & Chelsea saw property values fall sharply through 2023, but six London boroughs bucked the trend to record price growth through the year...

Short-term letting platform Airbnb has grown rapidly in the capital over recent years, while rents for residents seeking long-term tenancies have skyrocketed. There were over 86,500 short-term lets available in London on Airbnb in Q3 of last year, according to recent analysis from Benham & Reeves, up 9 per cent from the previous quarter.

That compares with just 1% for the UK as a whole. But within that overall figure, the performance of individual boroughs varied enormously, according to data today compiled by agents Benham and Reeves. Prices fell in 26 boroughs and the City of London with the biggest declines seen in the most expensive neighbourhoods.

Marc von Grundherr, director of London estate agent Benham and Reeves, said reducing the level of short-term lets available poses a risk to the local economy.

According to agents Benham and Reeves, which have picked the bones of the latest Land Registry data, prices fell 5.7% in the capital last year, more than any other region in the land, and painfully more than the 1% average across the UK as a whole.

The Housing Secretary’s endevours to bring an end to no-fault evictions has become quite a hot topic in the UK and met with mixed reactions from landlords, homeowners, estate agents and other industry speakers.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “The decline in house prices seen during the latter stages of 2023 has been marginal in the grand scheme of things and they remain there or thereabouts when compared to the record peaks seen during the pandemic market boom.”

Marc von Grundherr, director of Benham and Reeves, said: "The decline in house prices seen during the latter stages of 2023 has been marginal in the grand scheme of things and they remain there or thereabouts when compared to the record peaks seen during the pandemic market boom."

Marc von Grundherr, Director of Benham and Reeves, said:“The decline in house prices seen during the latter stages of 2023 has been marginal in the grand scheme of things and they remain there or thereabouts when compared to the record peaks seen during the pandemic market boom.

Some on the other side of the debate actually agree with this too, including Benham and Reeves director and landlord Marc von Grundherr. He tells Metro.co.uk: ‘The landlord exodus is, to put it bluntly, a myth. Yes, legislative changes have reduced profit margins in recent years, but this simply hasn’t been the deterrent the Government hoped it would.

Responding to the Halifax data, lettings expert Marc von Grundherr - director of the Benham and Reeves agency - says: “The general view is that 2024 will be a far more fruitful year for the UK property market and we’re already seeing early signs of this, with a fourth consecutive monthly increase in house prices and a sharp increase in both new sales listings and the number of buyers submitting offers. It really is all systems go at the moment and as market activity continues to build, property values will continue to ripen.”

Marc von Grundherr, director of Benham and Reeves said: 'The general view is that 2024 will be a far more fruitful year for the UK property market and we're already seeing early signs of this, with a fourth consecutive monthly increase in house prices and a sharp increase in both new sales listings and the number of buyers submitting offers.

‘The general view is that 2024 will be a far more fruitful year for the UK property market and we’re already seeing early signs of this, with a fourth consecutive monthly increase in house prices and a sharp increase in both new sales listings and the number of buyers submitting offers,’ notes Benham and Reeves director Marc von Grundherr.

Marc von Grundherr, director of estate agent Benham and Reeves, expressed: "The general view is that 2024 will be a far more fruitful year for the UK property market and we're already seeing early signs of this." Verona Frankish, the boss of Yopa, said: "Looking ahead, it's likely that, not only has the property market bottomed out with respect to the decline in house prices seen last year, but it's also likely that interest rates have now peaked."

After a prolonged wait-and-see period, property buyers 'are now returning' to prime London, says Benham and Reeves boss, 'tempted by improving market stability.'

London’s super prime housing marketing is seeing a boom as listings of homes valued at £10m+ increase by 5.1% on the year, according to latest research from Benham and Reeves.

London’s trophy-home market is picking up pace, with more properties asking £10 million or becoming available, according to new research. There are currently 431 such homes on the market, a 5.1% increase over the same time last year, real estate agency Benham and Reeves said in a report on Tuesday.

Director of Benham and Reeves, Marc von Grundherr, commented: “Those who were quick out of the blocks at the start of the year with yet more predictions of a property market demise are already reaching for a flannel to wipe the egg off of their faces.

Meanwhile a market-wide analysis by the estate agency Benham and Reeves found that in the fourth quarter of last year, 277,115 homes listed for sale online had been sold subject to contract, a 7 per cent rise compared with the first quarter of the year — or 18,000 more homebuyers taking the plunge.

The latest research by London lettings and estate agent, Benham and Reeves, analysed the number of homes listed across the market and marked as sold subject to contract across England in Q4, or in other words, the homes that had already secured a buyer. Benham and Reeves then looked at how this volume of sold stock had changed since the start of 2023 (Q1).

'The house price crash that so many experts said was an inevitability appears to have been averted,' says Benham and Reeves' boss, adding that 'we fully expect the market to go from strength to strength as we move into 2024.'

Newly released data from Benham and Reeves has revealed that house prices crept up in Q3 of last year, marking a second consecutive quarter of positive growth across both the UK and London markets.

The director of Benham and Reeves, Marc von Grundherr, comments: “There’s been an air of positivity hanging over the UK property market for a number of months now and this is unlikely to evaporate due to a marginal decline in sold prices. Not only is there a seasonal influence at play with today’s figures, but what we’re seeing is a return to the norm following a pandemic inspired period of house price boom. The market is currently finding its feet as buyers adjust to the reality of higher mortgage rates, while sellers are also having to adjust their expectations and as the two meet in the middle, we expect the market to stabilise.”

This post-pandemic resurgence of the city is further cemented by Benham and Reeves whose research shows that rental demand and enquiries rose by 5% during Q4 2020 and have maintained momentum over the course of the last two years, with enquiries up 12% in Q2 2023.

The latest research by London lettings and estate agent, Benham and Reeves looked at current for-sale stock to see just how much a home complete with a gym will cost you if you want to avoid the gym this January without forsaking your fitness goals.

Benham and Reeves director Marc von Grundherr said “However, those of us on the front lines have been observing a growing level of market momentum for some months now and so it was always a question of when, not if, this started to boost market health where house price growth is concerned. The property market has once again demonstrated its resilience in the face of economic uncertainty and while challenges still remain, you’d be ill-advised to predict a fall in property values over the coming year just a few short days into January.”

“A clean sweep of positive house price growth in December could be considered somewhat of a Christmas miracle given the turbulent year 2023 turned out to be,” said Marc von Grundherr, a director of the London estate agency Benham and Reeves.

The Prime London Demand Index by Benham and Reeves monitors demand for London’s most expensive properties based on the level of market activity seen between the £2m to £10m threshold and the super prime market of £10m-plus.

Buyer demand for prime London homes rose by 1.1% during the final quarter of 2023, according to Benham and Reeves. The lettings and estate agent Prime London Buyer Demand Index showed the quarterly increase for homes valued at £2m+ (prime) in today’s report. However demand was down by 0.7% on an annual basis.

According to Marc von Grundherr at Benham and Reeves, this paltry growth is partly a result of the lack of overseas buyers and is a sign of a more normalised market. “Obviously, the rising cost of living has really held the market back.”

According to Marc von Grundherr at Benham and Reeves, this paltry growth is partly a result of the lack of overseas buyers and is a sign of a more normalised market. “Obviously, the rising cost of living has really held the market back.”

Making the top three, a story from the very start of the year from London lettings and estate agent, Benham and Reeves who revealed that despite demand for homes in the capital largely dwindling during Q4 2022 due to higher financing rates, homes at the very top end of the property market food chain were being snapped up at pace.

Marc von Grundherr, director of Benham and Reeves, commented: “Like most of us during the closing stages of the year, the UK property market remains a tad lethargic with no real movement planned until the new year comes.

'2024 already looks to be a far more promising one, with stability returning and the hope of an interest rate reduction also likely to bring buyers back into the fold.' Director of Benham and Reeves, Marc von Grundherr, added: 'Like most of us during the closing stages of the year, the UK property market remains a tad lethargic with no real movement planned until the new year comes.

Benham and Reeves analysed Google search trend data on current estate agent search trends and their interest score, to see which have seen the largest uplift in activity over the last six months.

Google search trend data on current estate agent search trends by Benham and Reeves found that over the last six months, buyers and sellers have been increasingly searching for 'high street estate agents', with the term seeing a 24 per cent increase between June and November of this year.

UKWORLDPOLITICSROYALUSSCIENCEWEATHERWEIRDHISTORYNATURESUNDAYInYourArea HomeNewsUK Ok Royal Christmas Special Parents praise 'incredibly soft' baby onesie that is ideal for Christmas morning GP warns if you get 'cold-like symptoms' this weekend it may not be a cold Unexpected Compensation for St James's Place Clients AMK Legal Cause of death of teens found in overturned car on camping trip revealed The Pogues left fuming over 'terrible' Shane MacGowan tribute by Taboola Bog-standard parking space in UK's 'poshest town' on sale for more than a two-bed house A 5.6 metre-long parking space is on sale for a quarter of a million pounds, as the demand for parking spaces in the UK capital grows. By OLI SMITH 07:00, Sat, Dec 9, 2023 3BOOKMARK Property prices are around 'nine times the earnings' says expert A 14-square metre parking space in south-west London is on sale for a whopping £250,000. The massive price tag is far more than the average house price in many cities across the country. by TaboolaSponsored Link Here Are 20 of the Coolest Gifts for This 2023 Top Gadgets The "secure parking space" is advertised by Nicolas Van Patrick on Rightmove, where it has been on sale since June 2022. It is located in the middle of Knightsbridge, one of the poshest parts of the capital and which regularly tops lists as the most expensive street in London. The parking space, which sits under a "prime Knightsbridge development", comes in a 5.6 metres long, and 2.5 metres wide, or a typical parking space size. Sponsored Insulated Garden Office Deals | Search Ads Edgware: Unsold Garden Offices Sell For Almost Nothing! (2023) by Taboola READ MORE: Car park war erupts as hospital staff dump cars and walk through ‘muddy bog' RIGHTMOVE - PARKING SPACE The massive price tag is far more than the average house price in many UK cities (Image: RIGHTMOVE) Features advertised include a 984-year-long lease, gated access to the parking space, and 24-hour security. However, the price tag means it could be more expensive to park your car in London than to buy the average home in major UK cities. Compared to the £250,000 for a parking space in London, £226,523 is the average property price in Birmingham. The average property price in Manchester is £226,844 while Leeds sits at £237,818. KNIGHTSBRIDGE The 'property' is advertised by Nicolas Van Patrick as a 'secure parking space' on Rightmove (Image: GETTY) Don't miss... Watch moment shoppers dive for cover as car smashes into Boots store [VIDEO] Top uni bans 'offensive' National Anthem as woke students all make one comment [LATEST] Should we wear face masks on public transport as 100-day cough cases rise? [POLL] Become an Express Premium member Support fearless journalism Read The Daily Express online, advert free Get super-fast page loading logo Start 30-day FREE trial Knightsbridge remains an outlier in the property market, with the average property price in this neighbourhood at £4,328,333. The neighborhood, which is sandwiched between Kensington, Belgravia and Mayfair, is home to fashion stores, the world-renowned department store, Harrods, and banks that cater to wealthy individuals. Earlier this year, Halifax mortgages director Kim Kinnaird revealed that the top most expensive streets in the UK are all found in London. Meanwhile, experts suggest that the clampdown on cars in London is targeting parking spaces. Knightsbridge Knightsbridge is sandwiched between Kensington, Belgravia and Mayfair (Image: GETTY) TRENDING Warning as TikTok trend giving teens heart attacks - 'children die immediately' Warning as TikTok trend giving teens heart attacks - 'children die immediately' The pretty little town frozen in time named the best place to live in the UK The pretty little town frozen in time named the best place to live in the UK Moment Jewish woman kicked in the head and left 'unconscious' on UK street Moment Jewish woman kicked in the head and left 'unconscious' on UK street Earlier this year Lambeth Council announced plans to slash 25 per cent of its kerbside parking - an area the size of 194 football pitches - to help meet its climate targets. 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There’s a massive shortage of supply." Mr Von Grundherr said that some parking spaces have gone up by almost 50 per cent in value in the last five years - a figure he expects to sky-rocket in the coming years.

Marc von Grundherr, director of Benham and Reeves, agrees. London’s housing market has proven to be consistent, he says, while the average London home has gained £60,000 in value since before the pandemic. Demand from international buyers, who are less deterred by high mortgage rates, is also up. His verdict? “For those looking to sell, now remains as good a time as any.”

Benham and Reeves analysed the latest data from the Bank of England for Q3 of this year, looking at the number of homeowners who have fallen into mortgage arrears of over 2.5% of their outstanding balance.

Director Marc von Grundherr interviewed by Will Bain on BBC Radio 5 Live’s ‘Wake up to Money’ show talking about the London Lettings market; how Tenants can bag a home in this red-hot market and why there are not enough rental properties to go around right now.

Marc von Grundherr, Director of Benham and Reeves, commented: “It’s been a strange and uncertain year for the UK property market and so it’s only fitting that house prices should start to rally at a time of year when we usually see a seasonal lull. Home sellers will rejoice at the strongest house price performance in nine months and, with mortgage market activity also starting to increase, the current outlook is very positive indeed. However, those who have so widely prophesied the demise of the market over the last year will no doubt turn green with Grinch like fury having been proven wrong once again.”

MailOnline asked Marc von Grundherr, Director of Bentham and Reeves to look at a number of LTNs around the country and assess whether they were already having an impact on property prices.

Marc von Grundherr, director of London estate agent, Benham and Reeves, says: “It’s almost inevitable that the day before this, bins will be piled high, or rubbish will be strewn around the street where a fox has been searching for its supper. This is not a great look for potential buyers. Nor is it a great smell."

While annual house price growth is down ‘pretty much across the board’ in the prime London housing market, there are two types of homes that appear to be bucking the trend, says Benham and Reeves, who analysed prime London prices by property type across 20 prime neighbourhoods.

While studios and small flats have struggled in the cooling conditions, foreign buyers have been driving the market for certain family-suitable homes, reports Benham & Reeves.

Benham and Reeves analysed government data measuring rents against income, revealing how rental affordability levels have changed across each region of England between 2017 and the latest figures, which apply to 2022.

Marc von Grundherr, director of Benham and Reeves, added: “Any move to improve rental market standards is, of course, very welcome indeed. "However, it does seem a tad ironic that the government believes they are waging war on rogue landlords, given they are arguably the cause of the issue to begin with.

Director of Benham and Reeve, Marc von Grundherr added: “The nights may have drawn in but the future of the property market is currently looking far brighter than many would have anticipated at the start of the year. “Yes, sold prices are yet to show any significant movement in either direction and the cost of borrowing remains higher than the record lows home buyers had become accustomed to.

Benham and Reeves director Marc von Grundherr says: “It does seem a tad ironic that the government believes they are waging war on rogue landlords, given they are arguably the cause of the issue to begin with.

Almost 250,000 more residential properties in the capital were occupied by people not reliant on mortgages or rent in 2021 than in 2012, research by estate agent Benham and Reeves revealed.

The GCC market has recently experienced a remarkable surge in purchase inquiries in the UK. Notably, Marc von Grundherr, director of Benham and Reeves, highlights this upward trajectory in demand, particularly in the prime market segment valued at over £3 million ($3.72 million).

Marc von Grundherr, director of London estate agent Benham and Reeves, said: “The answer to this – along with ‘How long have you been on the market?’ – can provide some valuable insight. “This is insight not only into the property itself, and if there are any potential issues, but also in terms of where you stand when it comes to negotiating a potential deal.”

Statistics from Benham & Reeves show that, of the top 10 countries represented by London titles registered to individuals with an overseas correspondence address, Hong Kong, Singapore and China lead the pack in terms of the number of buyers. Hong Kong tops the table, with nearly 11,800 London property titles belonging to people either domiciled in, or living in, Hong Kong. Director of Benham and Reeves, Marc von Grundherr, comments: “London remains one of the most sought after cities for Asian buyers and this is unlikely to change anytime soon.

Benham and Reeves director Marc von Grundherr comments: “It’s looking like Christmas has come early for the nation’s homeowners, as the market appears to be making a late rally, buoyed by a heightened degree of buyer activity following the hold on interest rates”.

Director of Benham and Reeves, Marc von Grundherr, comments: “Homeownership is a journey that many embark on and the most exciting stage is, of course, getting that first foot on the ladder with a property we can call our own.

London agent Benham and Reeves studied ONS data for 2021 (which admittedly is quite long in the tooth). And it discovered that North Norfolk is England’s housing equity hotspot, with 72% of homes in the area owned mortgage-free. London’s Kensington & Chelsea and East Devon follow hot on its heels, at 71% and 70% respectively.

"We regularly see rental properties inundated with numerous applications the day they hit the market ..."

This was echoed by Marc von Grundherr, director of Benham and Reeves, who said: “It really remains a case of ‘nothing to see here’ when it comes to the current performance of the UK property market. “With the countdown to Christmas now on, the likelihood is that the market will remain in a state of house price limbo until January, at which point the usual uptick in activity should help spark some life back into proceedings.”

This was echoed by Marc von Grundherr, director of Benham and Reeves, who said: “It really remains a case of ‘nothing to see here’ when it comes to the current performance of the UK property market.

Kensington and Chelsea have the highest rate of outright homeownership across London, where 71% of homeowners are on the ladder without the help of a mortgage, with the City of London, Westminster, Camden and Barnet also ranking as some of the capital’s housing equity hotspots. That’s according to research by London lettings and estate agent, Benham and Reeves, who analysed data from the Office for National Statistics looking at the balance between homes owned outright and those owned with a mortgage.

“If you are looking to have capital appreciation together with a rental yield and you can buy a property within a certain price range, then there is no better place than London,” says Anita Mehra, Managing Director, Benham & Reeves. Benham & Reeves is among London’s oldest, independently-owned property lettings and sales agents, specialising in residential sales in prime areas of London. In August this year, Barratt London partnered with Benham & Reeves India to cash in on the growing demand of property buyers from India looking for opportunities across the UK.

Analysis by estate agent Benham and Reeves showed that buyer interest was weakest in October for homes in the capital priced between £400,000 and £499,999.

The latest research by London lettings and estate agents, Benham and Reeves, analysed current property listings across the capital at each price threshold, before looking at which price threshold currently boasts the greatest degree of for-sale stock, as well as the highest levels of buyer demand, based on the proportion of total stock that has already been marked as under offer or sold subject to contract.

The Benham & Reeves London Property Roadshow, held in collaboration with Barratt Developments Plc, supported by PHD Chamber Of Commerce and Industry unfolded as a resounding success, offering attendees a unique opportunity to explore an array of top-tier properties and gain profound insights into the thriving London real estate market.

Catch Sakshi Batra, Sr. Associate Editor, BTTV in conversation with Anita Mehra, Managing Director, Benham And Reeves and Stuart Leslie, International Sales and Marketing Director, Barratt London.

London estate agency Benham and Reeves analysed sold price data from the Land Registry for property sales to have completed so far this year across 12 major cities. The firm then looked at what proportion of total sales sold for £1m or more, the average sold price and the total value of homes sold.

“We regularly see rental properties inundated with numerous applications the day they hit the market, with tenants prepared to pay more than the asking rent and, in some cases, offering to pay 12 months up front,” Marc von Grundherr, director of London estate agent Benham and Reeves, told City A.M.

Rents could boom even more in the next ten years, predictions from Benham and Reeves suggest. If current trends continue, average London rents would hit £2152 a month by 2023, and would top £1600 in every single borough. A typical property in Westminster could fetch as much as £3,871 a month.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “Some landlords have seen their potential profits hit hard by government policy-making and increasing mortgage rates.

Analysis of Land Registry figures by estate agent Benham and Reeves showed that buyers shelled out seven-figure sums for 21 per cent of the residential properties that changed hands in the capital in the first eight months of this year.

The research by Benham and Reeves shows that when taking into account both the depreciation of a property over the last five years, coupled with growth in property values, the government has made a tidy sum on each Help to Buy property across almost every region of England.

Marc von Grundherr, director of estate agents Benham and Reeves, says the reversal of the pandemic exodus from the capital has overloaded demand for space in this area. “Now that normality has returned, so too have the capital’s tenants. East Finchley provides a best-of-both-worlds option. "The area lies within close proximity of Hampstead Heath, Highgate Woods, Alexandra Park and a number of other green areas. There are numerous golf clubs and other clubs for sporting pursuits. But despite this abundance of outdoor space, the area lies just 20 minutes from the city centre via a direct Tube.”

Director of Benham and Reeves, Marc von Grundherr, tells Metro.co.uk ‘‘Always be on time and show a genuine interest. After all, it’s someone’s property you are looking at and they may be more inclined to let to someone who actually wants to live there will appreciate it fully.’

Director of Benham and Reeves, Marc von Grundherr, tells Metro.co.uk: ‘Time and time again, we see tenants turn up to a viewing late and traipse around showing little to no emotion. Always be on time and show a genuine interest. After all, it’s someone’s property you are looking at and they may be more inclined to let to someone who actually wants to live there will appreciate it fully.’

Increased costs for Help to Buy schemes is a “ticking time bomb ready to explode”, Benham and Reeves director, Marc von Grundherr, has warned.

“It’s only natural that while interest rates have risen, buyer appetites have diminished,” said Marc von Grundherr, director of Benham and Reeves, adding that the strong sellers’ market has cooled. “This isn’t to say that sellers aren’t still achieving a fair price, however, they certainly aren’t benefiting from the feeding frenzy of multiple buyers fighting it out for the same property.”

Marc von Grundherr, director of estate agent Benham and Reeves, said the Help to Buy “ticking time bomb could soon explode” as five-year interest-free periods come to an end and borrowers refix onto rates they simply cannot afford.

A key highlight of Camden Goods Yard is its prime location near Central London, says Doris Tan, regional director at Benham & Reeves. “The project is close to many amenities and major universities in London, which will be a major attraction to Singapore buyers,” she adds.

Benham & Reeves has partnered strategically with Barratt London the largest housebuilder in the UK to offer Indian investors some of the finest property developments in London.

The Prime London Demand Index by Benham and Reeves monitors demand for London’s most expensive properties based on the level of market activity seen between the £2m to £10m threshold and the super prime market of £10m+. Demand is based on the proportion of all homes listed for sale across the prime market that have already been sold subject to contract.

The Prime London Demand Index by Benham and Reeves monitors demand for London’s most expensive properties based on the level of market activity seen between the £2m to £10m threshold and the super prime market of £10m+.

Marc von Grundherr, director of Benham and Reeves, added that today’s interest rates freeze was a “small victory” for homeowners, as borrowing costs are still considerably higher than a few years ago.

There will still be a real worry for those coming to the end of a fixed rate term’ Marc von Grundherr of Benham and Reeves called it, ‘a small victory for the nation’s homebuyers who have seen the financial goal posts move constantly in recent months.

That’s according to new research from London lettings agency Benham and Reeves, which compared the average rental portfolio income, based on portfolio size and rent values, in Q1 2022 with that in Q1 2023.

“I have never seen the rental market so hot… There is not enough stock and there is no let-up in demand,” says Marc Von Grundherr, of Benhams estate agents.

Landlords with a property portfolio in London have seen their average annual rental income soar by 32.9% over the last 12 months, new research from Benham and Reeves reveals.

According to Land Registry figures obtained by estate agent Benham and Reeves, Hong Kong investors own an estimated £10.8bn worth of property across England and Wales, making them the largest foreign property owners in the country.

The latest research by London lettings and estate agent, Benham and Reeves, compared the size of investors’ portfolios between the first quarter of 2022 and the same quarter this year and found that landlords are reducing their stock in response to the hostile policies enacted by the past few Conservative governments.

A London-focused lettings agency is partnering with Barratt London to encourage Indian investors.

Benham and Reeves analysed house prices across London postcodes home to schools with Good or Outstanding Ofsted ratings, how they have performed over the last year and how this performance compares to the wider borough in which they are located.

House prices near to the higher ranked schools in the capital are getting a welcome boost, according to research from London agents Bensham and Reeves.

Tenants in the UK capital face surging rents and eviction as landlords pass on pressure from higher borrowing costs ...

Marc von Grundherr, director at London-based estate agents Benham and Reeves, said landlords are increasingly asking him to include such clauses in tenancy agreements. To date, they have drafted two agreements that state rents can be increased if the Bank of England raises its rate.

Land Registry figures obtained by estate agent Benham and Reeves indicate that Hong Kong investors own an estimated £10.8 billion in property across England and Wales, making them the largest foreign property investors in terms of value.

Marc von Grundherr, director of London agents Benham and Reeves, said: “Another index and yet further evidence that while the market may be subdued at present, it’s far from teetering on a cliff edge.”

Separate research, by lettings agency Benham and Reeves, shows that solo buyers in London need to increase their income by vast amounts if they want to be in with a chance of securing a mortgage in the current market. The research shows that the average London house price is currently £525,629. A typical 20 per cent deposit means the initial down payment comes to £105,126, leaving £420,503 to be covered by a mortgage.

London buyers in search of enviable views of the city can expect to pay a premium of up to 137%, according to a Monday report from London agency Benham and Reeves.

With demand for property in London remaining strong among Indian investors, Barratt London has partnered with Benham & Reeves India.

With demand for property in the UK’s capital remaining strong among Indian investors, Barratt London, part of the UK’s largest housebuilder Barratt Group, has partnered with Benham & Reeves India as property buyers from India are continuing to look for opportunities across the UK.

Companies in this article. Benham & Reeves. Most read. News. 9 Aug, 2023. Fast-growing Mayfair agency recruits 'London's best-connected agent' ...

Homebuyers are facing house price premiums of up to 140% for properties in the capital that have a nice view, according to findings from Benham and Reeves.

Marc von Grundherr, director of Benham and Reeves estate agents, said considering the surge in house prices during the pandemic, "it is actually quite remarkable that the market is still standing so strong given the wider economic picture".

The recent decline in house prices has been consistent, albeit marginal, but it's important to remember that the comparison being made is to the heights of the pandemic boom seen this time last year. When you consider this small detail, it's actually quite remarkable that the market is still standing so strong given the wider economic picture.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “For starters, you may neglect some of the vital aspects of your home that add value in the eyes of a buyer. You also need to make yourself readily available, which many people struggle to do in the modern world with work and family commitments.”

Marc von Grundherr, director of Benham and Reeves explained that the rise will come as “as yet another nail in the coffin for the nation’s borrowers,” as many may struggle to keep up with rising payments amid the rising cost of living.

Director of Benham and Reeves, Marc von Grundherr, comments: “Homebuyers love a bit of luxury regardless of what end of the ladder they are looking to purchase and there’s a few ways you can add a luxurious feel to your home that can help boost the price you achieve when looking to sell."

Director of Benham and Reeves, Marc von Grundherr, comments: “Homebuyers love a bit of luxury regardless of what end of the ladder they are looking to purchase and there’s a few ways you can add a luxurious feel to your home that can help boost the price you achieve when looking to sell."

Marc von Grundherr, director of Benham and Reeves explained that the rise will come as “as yet another nail in the coffin for the nation’s borrowers,” as many may struggle to keep up with rising payments amid the rising cost of living.

Hong Kong homeowners own the most valuable property portfolio across England and Wales, worth an estimated £10.8bn in current market conditions, research by London agent Benham and Reeves has revealed.

Marc von Grundherr, director of Benham and Reeves, added: “We’ve seen inflation ease in recent weeks, however, interest rates and the resulting cost of borrowing remain high and this is continuing to dampen buyer appetites, which in turn is impacting house prices. While we don’t anticipate any notable correction on the horizon, we expect these lethargic market conditions to remain in the short-term, until such time the cost of climbing the ladder starts to reduce.”

Director of Benham and Reeves, Marc von Grundherr, commented: “We’ve seen inflation ease in recent weeks, however, interest rates and the resulting cost of borrowing remain high and this is continuing to dampen buyer appetites, which in turn is impacting house prices. While we don’t anticipate any notable correction on the horizon, we expect these lethargic market conditions to remain in the short-term, until such time the cost of climbing the ladder starts to reduce.”

Marc von Grundherr, director of London-based estate agents, Benham and Reeves, commented: “We’ve seen inflation ease in recent weeks, however, interest rates and the resulting cost of borrowing remain high and this is continuing to dampen buyer appetites, which in turn is impacting house prices.”

The corporate housing market within the UK is showing strong signs of a post-pandemic recovery, the latest research by London lettings and estate agent Benham and Reeves shows.

The latest research by London lettings agency Benham and Reeves has revealed the uphill struggle facing those in search of a London rental property.

Marc von Grundherr, a director of estate agents Benham & Reeves, said: “The pandemic property rollercoaster ride has certainly ground to a halt so far in 2023, but rather than the market coming off the rails, what we’re now seeing is house prices returning to pre-pandemic levels.”

Marc von Grundherr, a director of estate agents Benham & Reeves, said: “The pandemic property rollercoaster ride has certainly ground to a halt so far in 2023, but rather than the market coming off the rails, what we’re now seeing is house prices returning to pre-pandemic levels.”

Newly released data from research conducted by London lettings and estate agent, Benham and Reeves, has revealed that there are currently 40,496 rental homes available to rent across London - equating to 4% of the capital’s total 1,009,266 rental homes highlighting the slim pickings on offer to prospective London tenants.

With buyers in London increasingly coming from overseas —there are 103,425 foreign-owned homes in London, worth a total of £55.2 billion, according to new data from Benham and Reeves

Newly released data from research conducted by London lettings and estate agent, Benham and Reeves, has revealed that there are currently 40,496 rental homes available to rent across London - equating to 4% of the capital’s total 1,009,266 rental homes highlighting the slim pickings on offer to prospective London tenants.

Research by London lettings and estate agent, Benham and Reeves, found all but one of the top 10 most valuable markets for foreign homeownership are located within London.

The total value is based on current average prices and calculated by estate agent Benham & Reeves. The firm said that equates to non-UK buyers accounting for 2.76% of London’s total existing housing stock (valued at just over £2 trillion).

Benham & Reeves has identified which areas have the most homes registered to an overseas correspondence address.

Overseas buyer appetite for London’s housing market is set to climb this year despite the mortgage crisis, offering a boost to prices as figures revealed the estimated value of foreign-owned homes in the capital stands at £55.2 billion.

“There’s a huge premium on parking, and it’s getting worse and worse, even though more people are using public transport,” says Marc von Grundherr, director of Benham and Reeves. “There’s a massive shortage of supply.”

Buying a parking space can cost anywhere between £25,000 and £250,000 depending on location, says von Grundherr. Last year, he sold a double garage in north London for £1.65 million, with planning permission to build a house in the space.

The Prime London Demand Index by Benham and Reeves reveals that despite this quarterly rise, demand in the prime market is actually 2% lower than in Q2 2022.

Chris Cooper, Associate Director at Hampstead Estate Agents Benham & Reeves, shares some insights on the current state of the property market and how he has helped shape an ethos that keeps his clients constantly informed and in the loop.

According to new figures collated by Benham and Reeves, it is still possible to get on the property ladder within walking distance of a station for less than £300,000.

SUBSCRIBE TOGGLE MENU Buyer demand climbs for prime London property Promising signs of life return to London's prime market as buyer demand climbs in Q2, according to the latest research from Benham and Reeves. RELATED TOPICS: PROPERTY, LONDON, PRIME LONDON PROPERTY | REPORTER 30TH JUNE 2023 Prime London 551 "While some of the prime market’s more peripheral neighbourhoods remain the destination of choice for many, it’s great to see central locations such as Wapping, Canary Wharf and Pimlico also leading the charge" The Prime London Demand Index by Benham and Reeves monitors demand for London’s most expensive properties based on the level of market activity seen between the £2m to £10m threshold and the super prime market of £10m+.

Director of Benham and Reeves, Marc von Grundherr, comments: “The market remains in fairly good form considering interest rates are at their highest since 2008 and we expect this will now bring about a reversal in market fortunes. The more inflated areas of the market, such as London, largely trailed their more affordable counterparts where pandemic house price growth is concerned.

Research by Benham and Reeves shows that the initial London ULEZ - Ultra Low Emission Zone - pilot scheme which launched in 2019 had little impact on house prices...

The cost of entry to live in England’s priciest postcode is an average £8 million (US$10.2 million). London’s W1K postcode, which encompasses a large swath of the city’s notoriously high-end Mayfair neighborhood, ranks as the most expensive housing market across England and Wales, according to a report Monday from estate agency Benham and Reeves.

Buying a home in the UK just got slightly more depressing, with the news this week that a typical two-year fixed mortgage deal now has an interest rate of more than 6%. Coinciding with this rather bleak update, estate agents Benham and Reeves have shared the priciest postcodes in the country so far this year.

London’s W1K postcode, which encompasses a large swath of the city’s notoriously high-end Mayfair neighborhood, ranks as the most expensive housing market across England and Wales, according to a report Monday from estate agency Benham and Reeves.

The latest research by London lettings and estate agent, Benham and Reeves shows that the W1K postcode of Westminster sits top of the table as the nation’s priciest so far in 2023.

The event draws huge crowds every year, but for the very best chance of securing a spot, Benham and Reeves have looked at what it currently costs to purchase a property along the route.

To keep down their tax liability, it has become increasingly common for landlords to set up a limited company to buy properties. Marc von Grundherr, director of estate agent Benham & Reeves, says: “The advantage of this structure is that limited companies may offset their mortgage interest costs directly against their income.”

New research shows that the average sold price of a home in the capital stands at £525,000. However, to buy in the top one per cent of the market you would need considerably deeper pockets. Benham & Reeves look at what it takes to join London's exclusive 1% club.

The average buyer requires an estimated income of £4.7m in order to purchase a property in the top 1% of the market, according to research by Benham and Reeves.

Data compiled for Homes & Property by London agents Benham and Reeves shows that a single buyer currently needs to earn a salary of £75,556 to buy a £400,000 first home, assuming a 15 per cent deposit of £60,000 and a mortgage loan 4.5 times income.

Director of Benham and Reeves, Marc von Grundherr, comments: “We’ve seen a promising start to the year so far in terms of buyer interest returning to the market but what we’re simply not seeing is this interest convert at the same rate. This buyer hesitation has been largely spurred by increasing interest rates and while the market is standing firm, it’s this more tentative approach to buying that is causing house prices to stutter.”

Marc von Grundherr, a director of the London-focused estate agent Benham and Reeves, said: “We've seen a promising start to the year so far in ...

“We expect to see the sleeping giant of the London market start to awaken as the year progresses, having lay largely dormant during much of the pandemic market boom,” said Marc von Grundherr, director of Benham and Reeves.

Moreover, the ultra-rich have already made their move. Four recent transactions for “super-prime London units above £15 million” involved Chinese buyers, said Marc von Grundherr, a director at London-based property agency Benham and Reeves.

Director of Benham and Reeves, Marc von Grundherr, commented: “Today’s figures further highlight the sluggish start to the year with respect to house price performance. However, things are certainly starting to improve and it will take some time before an uplift in market activity filters through to an increase in the rate of house price growth."

'The North’s house price dominance over the South might not last forever,' says Benham and Reeves, as London's southern boroughs see more residential property transactions and higher rates of price growth than their northern counterparts.

Far from simply being a national phenomenon, the great North vs South property divide can be found on a city level, with new market analysis from Benham and Reeves revealing how properties south of the river are outperforming the North on house price growth and sales volume.

For Hongkongers, with the Hong Kong dollar pegged to the US dollar, a weakened pound could mean a price discount of as much as 3.3 per cent or nearly HK$100,000 (US$12,800) in the current market, said Marc von Grundherr, a director at London-based property agency Benham and Reeves.

From luxury hotels to high-end designer shops, London has more than its fair share of 'brandmarks'. The latest research from Benham and Reeves looks at how this next level of the Waitrose effect is impacting local house prices.

Buyers from Hong Kong own more properties in England and Wales than any other foreign place, new data reveals. Research by London lettings and estate agent, Benham and Reeves, shows that residents from the 50 most represented foreign locations combine to own 187,275 properties.

London lettings and estate agent, Benham and Reeves, submitted a Freedom of Information request to the Land Registry to ascertain the 50 most prominent foreign nations represented among individual residential property owners in England & Wales, and how many properties they own.

Director of London estate agency Benham and Reeves, Marc von Grundherr, said: 'In the current climate, it simply isn’t worth the risk and you’re far better off waiting and accumulating a more stable nest egg with which to place a mortgage deposit.'

Marc von Grundherr, director of London estate agent Benham and Reeves, said: “A further hike to the cost of borrowing will do little to enthuse ...

Marc von Grundherr, director of Benham and Reeves, suggested the hike shows the importance of buyers borrowing within their means. He said: “A further hike to the cost of borrowing will do little to enthuse the nation’s aspirational homeowners, who are currently battling with an astronomical cost of living while attempting to save enough to climb the ladder.

“There’s no doubt that the recent and historic weakening of the pound has been a driving factor behind an uptick in overseas property investment within the UK, with many overseas buyers now benefiting from fluctuating exchange rates,” said Marc von Grundherr, director at Benhams.

Ahead of the coronation of King Charles III this weekend, new research from London lettings and estate agent, Benham and Reeves, looks at the value of properties situated in close proximity to one of the capital's royal parks and how this compares to the price of an average London home.

However, landlords in the capital are actually listing their properties at higher prices than this, meaning tenants looking for homes at the moment may be surprised at the extra costs they could be faced with. This is according to analysis from Benham and Reeves, looking at homes that are on the market right now.

Research by London lettings and estate agent, Benham and Reeves, analysed the current cost of renting across each borough of London based on the asking rent for those properties that are currently available to rent on the market, comparing this data to the official figures curated by the Office for National Statistics to calculate the reality gap facing tenants navigating today’s market.

Renting in the Capital costs far more than official data suggests – with research from estate agent Benham and Reeves revealing that the current cost of renting across the London is 37% or £613 more per month than official statistics suggest.

Director of Benham and Reeves, Marc von Grundherr, commented: “Following a prolonged period of unprecedented house price growth, we’ve continued to see a gradual return to normality in 2023, with a second quarterly reduction in the average value of a home across both the UK and London markets.

The London lettings and estate agent Benham and Reeves reports that the gap between the mortgage approved price of a buyer (£271,098) and the asking price expectations of a seller (£363,416) has increased to 34.1% across the UK.

Lettings and estate agent, Benham and Reeves, submitted a Freedom of Information request to the Land Registry to ascertain the number of properties across each area of England and Wales with the title registered to an overseas correspondence address, combined with Gov data on properties registered with an overseas company.

Fancy a day at the races? You won’t have far to go if you buy a home close to a racecourse, though according to estate agency Benham & Reeves you’ll typically pay a 12% premium compared with the wider area to live on the doorstep of a famous equestrian venue.

Director of Benham and Reeves, Marc von Grundherr, commented: “Those of us on the ground have seen a sustained level of market activity since the start of the year and it was only a matter of time before this initial interest started to restimulate the market, reversing the reduction in house prices seen during the latter stages of last year. Homebuyers may not be moving with the same gusto seen during the pandemic boom, but stability has returned and the boat has well and truly steadied.”

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from Knight Frank, Savills, Benham & Reeves ...

The Prime Central London Demand Index by Benham and Reeves monitors demand for London’s most expensive properties based on the level of market activity seen between the £2m to £10m threshold and the super prime market of £10m+.

Rising mortgage rates will likely result in a decline in borrowing, which may curb demand for housing and slow down the dramatic increase in house ...

The latest test of landlord sentiment by lettings and estate agent, Benham and Reeves, found that 49% were disappointed that whisperings of a potential reintroduction of mortgage relief were unfortunately just that and the government didn’t decide to u-turn on the subject in last week’s spring statement.

Foreign currency exchange rates are saving expats up to £40,000 on asking prices, says leading London estate agency Benham & Reeves.

Marc von Grundherr, Director of London lettings and estate agent, Benham and Reeves, told Metro.co.uk: ‘There are myriad reasons a home may sit on the market without selling and, on the face of it, Britain’s least loved home has plenty of appealing factors, such as its size, commutability and a host of local amenities.

The analysis by Benham and Reeves has shown that on average, a landlord will be required to carry out repair or maintenance work on a buy-to-let property 72 times during their ownership, costing them over £34,000.

Marc von Grundherr, director of London estate agents Benham and Reeves, said: “While the London market hasn’t performed as strongly as the rest of the UK during the pandemic market boom, momentum is building.”

Rightmove’s report also quoted Marc von Grundherr, director of estate agent Benham and Reeves, who said: “While the London market hasn’t performed as strongly as the rest of the UK during the pandemic market boom, momentum is building and while asking prices are still a little off the pace for this time of year, we’ve seen a strong and consistent level of buyer demand so far in 2023.

Marc von Grundherr, managing director of estate agents Benham and Reeves, said many people who left the capital at the height of the Covid-19 crisis were looking to re-establish themselves without losing all the benefits of the commuter belt.

Marc von Grundherr, managing director of estate agents Benham and Reeves, said many home hunters want to be at a commutable distance to the centre of London, but remain on the edge of the city.

The latest research by lettings and estate agent, Benham and Reeves, looked at current property market values and how they compare to this time last year, with the research showing that since February 2022, the average UK sold price has increased by 7.8% to £294,329 today.

Many international buyers 'are now enjoying a substantial discount when purchasing versus the price they would have paid a year ago when property values were lower', says a London estate agency.

Approximately 830,940 homes were sold in 2022, meaning one in eight was down-valued. Down-valued homes typically see a reduction of £8,215, according to Benham and Reeves, but some have seen £100,000 wiped off their value.

Overseas investors have bagged an effective bonus of £40,000 off the purchase of a UK buy to let, according to leading lettings agency Benham and Reeves.

The latest research by lettings and estate agent, Benham and Reeves, has revealed that while the majority of UK homeowners believe they’ve found their dream home, 85% of them would house swap in a heartbeat if it meant returning to their childhood home.

With this in mind, the latest research by lettings and estate agents, Benham and Reeves, has revealed the most expensive home sales last year by region in England.

A research report by London real esate firm Benham and Reeves in July 2022, had noted that overseas investors continue to look to the United Kingdom housing market, with London, Liverpool, Salford and Manchester in the top 20 list for foreign investment.

The director of Benham and Reeves, Marc von Grundherr, sees it this way: “Although previous reports of housing market health have been less than positive, those of us on the ground are privy to changes in market sentiment far sooner than the reporting of topline statistics allows.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “While current house price performance may remain sluggish when compared to the meteoric rates of the pandemic market boom, there’s been a notable uptick in activity in 2023 and this has reversed the rot seen during the back end of last year.”

Marc von Grundherr, director of estate agent Benham and Reeves, said: “While current house price performance may remain sluggish when compared to the meteoric rates of the pandemic market boom, there’s been a notable uptick in activity in 2023 and this has reversed the rot seen during the back end of last year.”

There, average property prices have grown at a breakneck 145% between 1996 and 2021. "The clear reason [behind this] is that homeowners began to outnumber those who rent... there was a lack of available social housing... so people had to choose between paying more expensive rent or buying their own home," Marc von Grundherr, Director of Benham and Reeves, told Euronews.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “While current house price performance may remain sluggish when compared to the meteoric rates of the pandemic market boom, there’s been a notable uptick in activity in 2023 and this has reversed the rot seen during the back end of last year.”

To avoid paying higher rates of income tax, it’s become increasingly common for landlords to set up a limited company to buy properties. Marc von Grundherr, director of estate agent Benham & Reeves, said: “The advantage of this structure is that limited companies may offset their mortgage interest costs directly against their income.”

Newly released research by lettings and estate agent, Benham and Reeves, looked at the most common repair and maintenance tasks associated with a buy-to-let property, how often they occur during the ownership of a property and the total cost of completing these tasks over their period of ownership.

Marc von Grundherr, director of Benham and Reeves: “House prices have been sky high for quite some time and it’s fair to say that, having flown too close to the sun, they’re now starting to come back down to earth as a result of wider economic headwinds. The good news is that this return to normality has been a smooth one so far and we’re yet to see the crash landing that many so widely predicted.”

Research last summer by the estate agency Benham and Reeves found that non-Britons with overseas correspondence addresses own 85,451 properties in London, with a total value of £45.3 billion.

The latest research by lettings and estate agent, Benham and Reeves, has revealed that many homeowners could be tempted into a house swap depending on what was on offer.

Marc von Grundherr, Director of London estate agents Benham and Reeves, said the figures were likely to be more keenly celebrated outside the M25. Within the confines of the capital, such a price tag is unlikely to raise an eyebrow, let alone be classed as a phenomenon,” he said. “With London home to almost half of the nation’s £1 million property stock, these latest figures won’t send any shock waves reverberating across the market".

The UK has an estimated 2.65 million landlords, equating to 3,959 for every 100,000 people, according to recent analysis by letting specialists Benham & Reeves.

Marc von Grundherr, director of Benham and Reeves, said: “A combination of economic turbulence, increasing mortgage rates and a squeeze on household finances has been the perfect recipe for a reduction in the rate of house price growth and that’s what we’ve seen since the closing stages of last year.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “A combination of economic turbulence, increasing mortgage rates and a squeeze on household finances has been the perfect recipe for a reduction in the rate of house price growth and that’s what we’ve seen since the closing stages of last year.”

Marc von Grundherr, director of estate agent Benham and Reeves, said: “A combination of economic turbulence, increasing mortgage rates and a squeeze on household finances has been the perfect recipe for a reduction in the rate of house price growth and that’s what we’ve seen since the closing stages of last year.”

Marc von Grundherr, director of estate agent Benham and Reeves, said: “A combination of economic turbulence, increasing mortgage rates and a squeeze on household finances has been the perfect recipe for a reduction in the rate of house price growth and that’s what we’ve seen since the closing stages of last year.”

Benham and Reeves analysed sold price records from the Land Registry, looking at how much a Valentine themed road name will set you back in the current market, as well as how the price of property on these roads has changed since last Valentine’s Day.

Marc von Grundherr, director of Benham and Reeves, commented: “In the modern age, technology has allowed us to expand our property portfolios beyond the previous geographical limitations of yesteryear".

East Ham offers a great opportunity for Londoners to live in close proximity to central London or Canary Wharf without paying a premium, according to Marc von Grundherr, managing director of estate agents Benham and Reeves.

Where people live affects how happy they are, according to a study by London estate agent Benham and Reeves, which has revealed the happiest areas may be those with below average house prices.

At the other end of the spectrum there is Marc von Grundherr, director of London estate agent Benham and Reeves, who says: “Those of us with our ear to the ground will tell you that both buyer and seller enquiries are coming in thick and fast, particularly across the London market.”

"We remain a nation driven by the aspiration of homeownership and it’s only a matter of time before this uplift in activity reverses the reduced rates of house price growth seen during the latter stages of last year.” said Marc von Grundherr, Director at Benham and Reeves.

Director of Benham and Reeves, Marc von Grundherr, commented: “It’s been a swift start to the year and those of us with our ear to the ground will tell you that both buyer and seller enquiries are coming in thick and fast, particularly across the London market. So while we may have seen a momentary period of respite towards the end of 2022, there is a renewed level of optimism enveloping the market so far this year.

“It’s been a swift start to the year and those of us with our ear to the ground will tell you that both buyer and seller enquiries are coming in thick and fast, particularly across the London market. So while we may have seen a momentary period of respite towards the end of 2022, there is a renewed level of optimism enveloping the market so far this year" said Benham and Reeves.

A recent analysis from Benham and Reeves found that almost a third of all apartments in London boast a balcony, a feature that is often in high demand amongst buyers as it provides a valuable slice of outdoor space.

Benham & Reeves expects the cost of renting to climb by as much as 10 per cent this year, while others suggest an increase of between five to eight per cent.

London’s most up-and-coming neighbourhoods have seen house price increases of up to 64.5% over the last year, according to research by Benham and Reeves.

Marc von Grundherr, a director at Benham and Reeves, which has offices in Hong Kong and London, said both sets of buyers were competing for

Director Benham & Reeves comments "the regions outperformed London and the South East in 2022, with Liverpool and Nottingham winning the property price race with significant double-digit gains. That said, this only takes ­average house prices in these cities to well under £200,000 (RM1 million) and represents great value still.

Benham and Reeves says it wants the full amount of mortgage interest to be set against rental income before tax is calculated.

In an effort to help boost investment in the buy-to-let sector, a petition calling on the government to reverse its Section 24 tax changes for BTL landlords, which removed their ability to claim mortgage interest rate against their tax liability, was launched last month, supported by Benham & Reeves.

A high profile lettings agency has backed a petition demanding the reinstatement of tax relief for landlords. Benham and Reeves says it wants the full amount of mortgage interest to be set against rental income before tax is calculated.

Benham and Reeves claim that London’s most up and coming neighbourhoods have seen price increases up to 64.5%. House price increases of up to 64.5% in are driving a positive momentum shift for the capital’s struggling market.

Director of Benham and Reeves, Marc von Grundherr, comments: “For the last two years, many buyers have been borrowing beyond their means to offer above the odds and beat other buyers to the punch in what has been an extremely competitive market.

Benham and Reeves director Marc von Grundherr said "This is hardly surprising given that financing such princely purchases has become a lot more expensive in recent months"

Appetite for homes valued at £10m and over in the capital keeps getting stronger despite a drop in demand across the rest of the prime market, according to the latest Benham and Reeves.

Marc von Grundherr, director of Benham and Reeves comments “A further increase to interest rates will certainly spur a continued cooling in current property values but it’s extremely unlikely we will see the deep freeze that many may lead us to believe. At most, we can expect a five per cent drop during the first six months of the year, at which point stability will return and house prices will start to level out."

Marc von Grundherr, director of London lettings and estate agent Benham and Reeves, commented “A further increase to interest rates will certainly spur a continued cooling in current property values but it’s extremely unlikely we will see the deep freeze that many may lead us to believe. At most, we can expect a five per cent drop during the first six months of the year, at which point stability will return and house prices will start to level out."

Marc von Grundherr, Director of London lettings and estate agent, Benham and Reeves, commented: “A further increase to interest rates will certainly spur a continued cooling in current property values but it’s extremely unlikely we will see the deep freeze that many may lead us to believe.

Marc von Grundherr, director of Benham and Reeves, said: “This will be as welcomed by homeowners as the proverbial lump of coal on Christmas morning, with those on variable rate products now facing yet another immediate increase in their monthly mortgage payments. “With many households struggling to heat their homes in these arctic conditions, this will be the last thing they need in the run up to Christmas.”

Marc von Grundherr, director of Benham and Reeves, added: “There’s certainly no cold snap on the cards where interest rates are concerned with yet another substantial increase pushing the base rate to a 14 year high.

Marc von Grundherr (pictured), Director of Benham and Reeves, says: “There’s certainly no cold snap on the cards where interest rates are concerned with yet another substantial increase pushing the base rate to a 14-year high.

Marc von Grundherr, Director of Benham and Reeves, says: “The number of long-term vacant homes in England is quite extraordinary and fairly evenly spread across the country. The combined value of these homes is, of course, hard to ignore, but it’s more striking to consider what a waste of warmth and shelter they are at a time when so many are going to be sleeping rough this Christmas.

Billy Boyle from our property sales team in our Highgate branch tells us his favourite place to eat ...

Director of Benham and Reeves, Marc von Grundherr, comments: “Further market slowdown is to be expected as a consequence of recent political errors, ongoing economic uncertainty, and the cost of living crisis.

Director of London estate agency Benham and Reeves, Marc von Grundherr, said: “A gradual reduction in the rate of house price growth should be welcomed, as this will help the market steadily return to pre-pandemic norms rather than falling off a cliff edge.

Research by London lettings and estate agent, Benham and Reeves, analysed current market values in 30 postcodes that were once planned to benefit from a tube station of their very own, either by the London Underground or an earlier independent company, with the plans even gaining parliamentary approval.

Marc von Grundherr, director of Benham and Reeves, says: “Although today’s mortgage figures will bring no cause for celebration, they are certainly no cause for alarm either, and the decline seen is almost certainly a consequence of a disastrous mini-budget which still lingers in the air while the market seeks to navigate multiple challenges."

Marc von Grundherr, Benham and Reeves ... Commenting on the figures, Marc von Grundherr, director of estate agent Benham and Reeves, ...

Commenting on the figures, Marc von Grundherr, director of estate agent Benham and Reeves, said: “The decline seen is almost certainly a consequence of a disastrous mini-budget which still lingers in the air while the market seeks to navigate multiple challenges.

Director of Benham and Reeves, Marc von Grundherr, said: “Although today's mortgage figures will bring no cause for celebration, they are certainly no cause for alarm either, and the decline seen is almost certainly a consequence of a disastrous mini-budget which still lingers in the air while the market seeks to navigate multiple challenges but we must factor in seasonality too whereby mortgage applications always begin to reduce at the onset of winter..."

Marc von Grundherr, Director of Benham and Reeves, comments: “The property market has continued to weather the storm of late and while we may have seen a reduction in buyer demand due to higher mortgage rates, we’re simply not seeing any downward pressure applied to sold prices, despite a static rate of growth on a monthly basis.

Benham & Reeves are a London-based property company with more than 60 years' experience, providing advisory and full after-sales services for your ...

Marc von Grundherr, director of Benham and Reeves, has spoken out against the Autumn Budget provision which will see landlords’ Capital gains Tax allowance cut ...

London lettings and estate agent, Benham and Reeves, has called for EWS1 forms to be incorporated into the standard Fire Risk Assessment process, rather than remain a standalone examination.

Meanwhile Marc von Grundherr, director of estate agents Benham and Reeves, said: 'Homebuyers have been stretched to breaking point in recent weeks, not only by the rising cost of living, but also due to increasing mortgage costs.

Marc von Grundherr, director of estate agents Benham and Reeves, said: "“Homebuyers have been stretched to breaking point in recent weeks, not only by the rising cost of living, but also due to increasing mortgage costs.

Speaking about the effect of the end of Stamp Duty for already stretched homebuyers, director of Estate Agent Benham and Reeves, Marc von Grundherr, said: "Homebuyers have been stretched to breaking point in recent weeks, not only by the rising cost of living but also due to increasing mortgage costs.

London estate agent, Benham & Reeves, who are leading this call for a change in the process, believes that this will be far more efficient, helping to eradicate the delays that homebuyers and sellers are struggling with.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “While we may have seen a reduction in buyer demand due to higher mortgage ...

However, according to research by London lettings and estate agent, Benham and Reeves, it’s homes close to sites of historical military significance that command the highest house price premium, coming in at 50.7% more expensive compared to the wider area in which they are located.

However, Marc von Grundherr, director of the London property company Benham and Reeves, rejected the projections as “negativity”. “In the London market where we’ve got 20 branches here and eight overseas, I have not had a single transaction where people have made an offer, they’ve heard the bad news about interest rates going up, and they’ve pulled out. Not one.”

The director of Benham and Reeves, Marc von Grundherr, commented: “Forget Halloween, it’s the Bank of England that has just delivered the fright of the year for the nation’s homebuyers with the biggest jump in interest rates in over three decades. This latest increase will also do little to revitalise the declining level of buyers entering the market, with many now finding they simply can’t afford the cost of borrowing compared to just a few short months ago.”

Marc von Grundherr, director of estate agent Benham and Reeves, said an increase will do “little to revitalise the declining level of buyers entering the market, with many now finding they simply can’t afford the cost of borrowing compared to just a few short months ago.”

Director of Benham and Reeves, Marc von Grundherr. "Those on variable rate products can expect to see an immediate increase in their monthly payments, while those coming to the end of their fixed term can be suitably worried about what’s to come when they do remortgage."

The director of Benham and Reeves agency in London, Marc von Grundherr, comments: “Forget Halloween, it’s the Bank of England that has just delivered the fright of the year for the nation’s homebuyers with the biggest jump in interest rates in over three decades.

New research by Benham and Reeves, highlights that a supporting cast from Singapore is helping to drive UK market activity.

Marc von Grundherr, director of Benham and Reeves estate agents, believed the slowing of the housing market was a positive outcome. “Any market slowdown is likely to strike fear into the hearts of the nation’s homeowners, but a reduction in the rate of house price growth should be largely welcomed,” Grundherr said.

The number of homes in England and Wales owned by people based abroad has tripled since 2010 - from 88,000 to 247,000. They are valued at over £90billion according to estate agents, Benham and Reeves.

London's SW1 postcode. With average sold prices of over £1m and residents of its most famous address, 10 Downing Street, unsure how long they going to stay, the latest research from Benham and Reeves looks at how much it costs to rent in the most prestigious postcode in UK politics.

Director of Benham and Reeves, Marc von Grundherr, says that as well as making sure you have your deposit ready – which is usually around 5 weeks’ rent – it’s will also really help if you’ve got all of the necessary documents to hand, from right to rent permissions, to current and past addresses, employee and personal references, and bank statements.

Marc von Grundherr, Director of Benham and Reeves said: House prices continue to climb and this will remain the case as long as the buyer demand balance remains tipped firmly in favour of home sellers. Mortgage rates also remain fairly favourable at present and so we simply won’t see a house price dip while this remains the case."

Research by London lettings and estate agent Benham and Reeves has revealed, that while the prime market is still struggling when it comes to house price growth, a return to normality has helped rejuvenate the price being paid for flats.

Benham & Reeves are a London based property company with more than 60 years' experience in the industry, providing advisory and full after sales services of your London properties ...

On the other end of the scale, Marc von Grundherr, director at Benham and Reeves, an estate agents based in London, said the increase in interest rates “doesn’t seemed to have deterred anybody” in the market they operate in due to a “chronic lack of stock”.

Recent research from Benham and Reeves shows that overseas nationals now own almost 250,000 homes across England and Wales – amounting to £90.7 billion worth of property. Following the drastic drop in value of the pound, industry experts suggest this could only serve as a further incentive for foreign buyers to jump into the UK market to purchase property cheaply before the currency returns to a stronger position.

New analysis of data confirms that the pandemic-drive 'race for space' is over in the London, with demand for apartments now significantly outpacing that for houses.

“An extraordinary turn of events, quite literally, but one that should help strengthen a property market that was starting to wobble under the pressure of increasing mortgage rates and dwindling buyer sentiment,” said an optimistic Marc von Grundherr, Director of Benham and Reeves, adding: “While maintaining a cut to stamp duty will help stimulate buyer demand within the market, overall market health will be far better maintained by stabilising the mortgage sector and our ability to fund a property purchase in the first place."

Director of Benham and Reeves, Marc von Grundherr: “An extraordinary turn of events, quite literally, but one that should help strengthen a property market that was starting to wobble under the pressure of increasing mortgage rates and dwindling buyer sentiment.

Thoughts from Benham and Reeves and Propertymark.

... director of Benham and Reeves, said. “The government's choice to maintain the cut to stamp duty tax signals their intent to keep the property ...

... the director of Benham & Reeves estate agents, said he believed there would now be an easing of some of the pressure on the mortgage sector.

Doris Tan, regional director at Benham & Reeves, is expecting keen interest in the project from discerning buyers. “Singaporeans are well-travelled and many are already familiar with Switzerland. They will recognise this as a rare opportunity to invest in a high-quality asset in this one-of-a-kind destination,” she says.

An analysis of property market sentiment by London lettings and estate agent, Benham and Reeves, looked at those who were specifically in the process of entering the UK property market to either buy or sell a property and the sample of over 1,500 respondents also highlighted the continued imbalance of market supply and demand, with 65% of those answering being buyers versus 35% who were selling.

However, Marc von Grundherr, of London estate agency Benham and Reeves, said banks were even U-turning on offers after contracts between the buyer and seller had been exchanged. He said: “In my 25 years, I have never seen a lender pull a mortgage offer but we have heard of at least 10 cases. To go back on a firm mortgage offer is pretty awful and very stressful for everyone involved.”

“A rather level-headed approach by the UK’s homebuyers and sellers who appreciate that we simply can’t expect house prices to soar by double-digit rates of growth forever and therefore we are likely to see current hot market conditions cool a tad come next year,” Marc von Grundherr, director of Benham and Reeves, said.

This is a major problem for the prime London market, says Marc von Grundherr, director at Benham and Reeves. It has long relied upon overseas buyers to snap up its luxury apartments and stratospherically-priced superhouses. ‘There are developments in London where not a single owner has a British passport,’ he says. ‘They are incredibly important.’

Despite demand rising across the £2m+ market in London both on a quarterly and annual basis, the super prime threshold of £10m+ has seen a drop in buyer demand in the third quarter of 2022, according to the latest data released by London lettings and estate agent, Benham and Reeves.

The latest Prime Central London Buyer Demand Index by lettings and estate agency Benham and Reeves has found that demand is up across the prime London market (£2m-plus) both on a quarterly and annual basis, but the super prime threshold of £10m-plus has seen a drop in buyer demand in the third quarter of 2022.

The PCL Homebuyer Demand Index by Benham and Reeves monitors demand for homes valued between £2 - £10m and £10m and above based on the ratio of properties listed online that have already sold subject to contract or gone under offer. E.g, if 100 homes are listed and 50 are already sold, the demand score would be 50 per cent.

The weak pound “attracts many newcomers to the market who have just started doing preliminary research”, said Widya Lestaluhu, director head at British property consultancy Benham & Reeves in Hong Kong. “It will also take some time for them to have sufficient knowledge before reserving, as there are many options in the market as well.”

“A weak pound now means that many foreign buyers are benefitting from a dramatic boost in purchasing power,” Marc von Grundherr, director of estate agency Benham and Reeves, said in a separate report Tuesday. “While this is bad news for the wider economy, it could see prime London sales start to climb over the coming months.”

Demand for London homes worth more than £10m has fallen consistently in the first half of the year, while London’s prime market, of homes valued between £2m and £10m, has enjoyed an uptick. According to research from city real estate firm Benham & Reeves, demand in London’s super prime real estate market has dwindled by one per cent and is down nearly two per cent in comparison with this time last year.

Demand is up across the prime London market on a quarterly and annual basis, but the super prime threshold of £10m+ has seen a drop in buyer demand in Q3, the latest prime central London buyer demand index by Benham and Reeves shows.

Marc von Grundherr, a director at the estate agent chain Benham and Reeves, said: “Those who already have their terms have remained largely unhindered, with their sales progressing as planned. “That’s not to say everyone has, though, and we’ve seen a handful of cases where buyers have had the rug ripped from beneath them by banks withdrawing their pre-agreed mortgage offers.”

Realtor Benham & Reeves regional director Doris Tan said: "The pound now is very weak so it is a buying opportunity for Singaporeans. It's a buyer's market now."

There’s rather a lot going on in the economy as I write this and, by the time it is published, who on earth knows what will have happened politically?

Realtor Benham & Reeves regional director Doris Tan said: "The pound now is very weak so it is a buying opportunity for Singaporeans. It's a buyer's market now."

Marc von Grundherr, director of estate agent Benham & Reeves, said: "Higher mortgage rates are just one factor contributing to the cost-of-living crisis, but they're certainly the most influential factor when it comes to the purchasing power of the nation's homebuyers.

Marc von Grundherr, of Benham and Reeves estate agents, said buyers who could not source larger deposits would have to cut budgets, buy a smaller property, or purchase in a cheaper area.

Marc von Grundherr, director of estate agent Benham and Reeves, said: "Higher mortgage rates are just one factor contributing to the ...

“The market is now at a bit of a tipping point where house prices have continued to increase rapidly, but the reality for many buyers is that they are no longer able to stretch themselves financially. “The very best course of action in any market is to price appropriately.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “Higher mortgage rates are just one factor contributing to the cost-of-living crisis, but they’re certainly the most influential factor when it comes to the purchasing power of the nation’s homebuyers.

But what of the impact to the market as a whole? Benham and Reeves examined sold price data for the 574,091 homes sold over the last year, calculating the level of stamp duty that was owed versus the amount that would have been owed under the new guidelines.

I've got grand designs on a doer upper - is it really worth my while?

Director of Benham and Reeves, Marc von Grundherr, commented: “Any saving will be warmly welcomed for those looking to climb the property ladder, particularly in the current economic climate and, collectively, the nation’s homebuyers stand to save a significant sum as a result of the latest stamp duty changes.

The increase of 5% would come despite the turbulent economic conditions, with the housing market battling an onslaught of soaring interest rates and a cost of living crisis, both of which will undoubtedly take their toll on buyers’ pockets. Yet, the research, conducted by agency Benham and Reeves, suggests that the average house price in the UK is set to keep rising. They estimate that this will add a further £14,320 to the average property value, bringing it up to £300,717.

Benham and Reeves analysed current rental stock available across the capital and found that currently, just five per cent offer to cover the cost of bills within the monthly rent.

Marc von Grundherr of estate agents Benham and Reeves said: “Much has been made about the decline of the property market, but the truth of the matter is that house prices continue to sit at their highest levels this side of the millennium and only marginally off the market peak seen towards the back end of last year.

London lettings and estate agent, Benham and Reeves, found that 34% of rental properties that include the cost of bills within the rent paid have already had a let agreed, up from just 26% in April of this year.

“The nation is currently in a state of shock and there’s no doubt we will remain in limbo until the queen has been laid to rest [on] Monday,” said Marc von Grundherr, director of estate agency Benham and Reeves."

Benham and Reeves, London lettings and estate agent, has revealed its latest research which discloses which London councils have put in the best house building performance when it comes to the delivery of local authority funded and housing association homes as a proportion of all homes built.

Newly released research by London lettings and estate agent, Benham and Reeves, has revealed which London councils have put in the best house building performance when it comes to the delivery of local authority funded and housing association homes as a proportion of all homes built.

“Momentum in the capital may well accelerate in the months ahead regardless of the picture elsewhere.” Marc von Grundherr, director of estate agent Benham and Reeves, said: “With the London market now starting to shift through the gears, this will only bolster the might of the property market further and bring an even greater boost to house prices over the coming months.”

Marc von Grundherr, director of estate agent Benham and Reeves, said: “With the London market now starting to shift through the gears, this will only bolster the might of the property market further and bring an even greater boost to house prices over the coming months.”

In London, average house price has increased by 8.8% annually, marking the strongest growth there in more than six years. Marc von Grundherr, director of estate agent Benham and Reeves said: “With the London market now starting to shift through the gears, this will only bolster the might of the property market further and bring an even greater boost to house prices over the coming months.”

Despite the current fears of an economic crisis looming, house prices could increase by a further 5% before the end of 2022, data from London lettings and estate agent Benham and Reeves have shown.

Average house prices could lift by a further 5% by the end of the year despite the cost of living crisis, according to Benham and Reeves.

Benham and Reeves director Marc von Grundherr said: “We keep waiting for house prices to plateau, but it's just not happening. “The pandemic-inspired ...

London estate agency Benham & Reeves expects house prices to rise by another 5% before the end of the year.

London lettings and estate agent, Benham and Reeves, claim that before the end of 2022, house prices will increase by an additional 5%. This is estimated to add a further £14,320 to the average property value bringing it up to £300,717.

Benham and Reeves director Marc von Grundherr said: “We keep waiting for house prices to plateau, but it’s just not happening. “The pandemic-inspired boom in demand and value has supercharged the housing market to such an extent that it seems even a cost of living crisis and soaring interest rates can’t stop it in its tracks.”

Marc von Grundherr, director of Benham and Reeves, said that the scheme has been “incredibly successful” when it comes to giving council tenants the ability to climb the housing ladder.

Marc von Grundherr, Director of Benham and Reeves, comments: “The UK economy is sailing head on into some very stormy seas at present, all while the captain remains on shore leave with no replacement yet to take the helm.

There has been, quite rightly, a lot of media attention recently about inflation and the damage it causes to household finances. New research from Benham and Reeves looks at what the current high rate of inflation means when it comes to the value of the nation’s bricks and mortar.

“The UK economy is sailing head on into some very stormy seas at present, all while the captain remains on shore leave with no replacement yet to take the helm,” Marc von Grundherr, director of Benham and Reeves, said.

Director of agents Benham and Reeves, Marc von Grundherr, said: “The UK economy is sailing head on into some very stormy seas at present, all while the captain remains on shore leave with no replacement yet to take the helm.

Director of London estate agents Benham and Reeves, Marc von Grundherr, added that rising costs will leave the housing market no choice but to cool.

The director of Benham and Reeves, Marc von Grundherr, said: “The increasing cost of both buying and borrowing has started to dampen the insatiable appetite of the nation’s buyers ever so slightly. When coupled with the fact that the drought of new homes entering the market is now starting to ease, a marginal reduction in asking prices was always going to materialise.

London lettings and estate agent, Benham and Reeves found that when it comes to the most popular London postcodes.

Research from London lettings and estate agent, Benham and Reeves, has revealed where in the capital are going against the grain of an otherwise muted London market, with the highest levels of homebuyer activity.

Marc von Grundherr, director of Benham and Reeves, the estate agent, said: “Climbing the ladder is an incredibly tough task in today’s market, where only those with the financial collateral of an existing property can comfortably negotiate the cost of a purchase. It’s no wonder that we’re seeing a move towards long-term renting as a lifestyle choice, not just a necessity.”

The report by estate agents Benham & Reeves found that people from the Chinese city-state made up 21% of foreign property-owners in the borough. Hongkongers came out top in seventeen London boroughs including Tower Hamlets (26%), Newham (24%), Lewisham (23%), Hackney (23%), Greenwich (22%) and Islington (20%).

Marc von Grundherr, director of London estate agent Benham and Reeves, said: "You'd have thought that having gorged themselves on a feast of mortgage affordability and stamp duty reductions during the pandemic, the appetite of the nation's homebuyers would be dwindling.

Benham and Reeves also compared this £1 million market activity to the same timeframe in 2012, to uncover how the market has changed in the last decade. So far this year, 6,732 property purchases have been completed with a price tag of £1 million or more, a 93% rise when compared to 2012. London, unsurprisingly, remains the nation’s £1 million market hotspot, in terms of sheer volume. The capital has seen 3,342 million pounds worth of sales so far in 2022, with the South East the only other region to see this total surpass the 1,000 mark.

Marc von Grundherr, director of London estate agent Benham and Reeves, said: "You'd have thought that having gorged themselves on a feast of mortgage affordability and stamp duty reductions during the pandemic, the appetite of the nation's homebuyers would be dwindling.

Marc von Grundherr, director of estate agent Benham and Reeves, said: "Climbing the ladder is an incredibly tough task in today's market, where only those with the financial collateral of an existing property can comfortably negotiate the cost of a property purchase.

Marc von Grundherr, director of estate agent Benham and Reeves, said: “Climbing the ladder is an incredibly tough task in today’s market, where only those with the financial collateral of an existing property can comfortably negotiate the cost of a property purchase.

Benham and Reeves boss Marc von Grundherr warns “the London rental market is now rebounding at an alarming rate.”

Marc von Grundherr, director of estate agent Benham and Reeves, said: "Climbing the ladder is an incredibly tough task in today's market, where only those with the financial collateral of an existing property can comfortably negotiate the cost of a property purchase.

Director of Benham and Reeves, Marc von Grundherr, commented “Climbing the ladder is an incredibly tough task in today’s market, where only those with the financial collateral of an existing property can comfortably negotiate the cost of a property purchase."

Research from London lettings and estate agent, Benham and Reeves, analysed average rental values across the London rental market, looking at the decline in the average monthly rent caused by the tenant eviction ban and what the cost of renting now stands at in today’s market.

London-focussed lettings agency Benham and Reeves says renters who secured bargain properties during the pandemic now face huge rent rises when they renew.

Recent research from Benham and Reeves shows that overseas nationals now own almost 250,000 homes across England and Wales – amounting to £90.7 billion worth of property.

Benham and Reeves has found that prime London property values have increased by £285 per day over the last year, with this daily rate of house price appreciation climbing to £808 per day in the best performing areas.

Research from London lettings and estate agent, Benham and Reeves, analysed the capital’s 28 most prestigious pockets of the property market and found that, on average, prime London homes are now commanding over £1.1m in the current market, up 10.3% in the last year alone.

Director Marc von Grundherr of Benham and Reeves, the London lettings and estate agent responsible for the research, commented “We’ve been highlighting the returning health of London’s top tier property market for quite some time now and the proof of this return to form is very much in the pudding".

Marc von Grundherr, director of Benham and Reeves in London, said: “While buyer demand may be cooling compared to the dizzying heights of the peak pandemic market, there remains a huge imbalance between buyer appetites and available stock levels."

New findings by lettings and estate agent Benham and Reeves show the highest value of homes owned by overseas buyers.

“The rising cost of borrowing and the broader economic backdrop may cause buyer demand to cool further this year, albeit gradually. While a new wave of housing is coming on the market, this increase in inventory levels is unlikely to rebalance the balance sheet. Therefore, we can expect property values ​​to remain high for the remainder of 2022,” said Marc von Grundherr, director of London estate agent Benham and Reeves.

The average price tag on a home hit a record high for the sixth consecutive month in July, according to a property website.

The average price tag on a home hit a record high for the sixth consecutive month in July, according to a property website...

Marc von Grundherr, director of Benham and Reeves in London, said: “While buyer demand may be cooling compared to the dizzying heights of the peak pandemic market, there remains a huge imbalance between buyer appetites and available stock levels.

Marc von Grundherr, director of Benham and Reeves in London, said: “While buyer demand may be cooling compared to the dizzying heights of the peak pandemic market, there remains a huge imbalance between buyer appetites and available stock levels.

“The increasing cost of borrowing and the wider economic backdrop may cause buyer demand to continue to cool further this year, albeit gradually. However, even though a fresh wave of homes are coming to market, this boost to stock levels is unlikely to rebalance the scales. Therefore, we can expect property values to remain buoyant for the remainder of 2022,” said Marc von Grundherr, director of London estate agent Benham and Reeves.

“While buyer demand may be cooling compared to the dizzying heights of the peak pandemic market, there remains a huge imbalance between buyer appetites and available stock levels. “The increasing cost of borrowing and the wider economic backdrop may cause buyer demand to continue to cool further this year, albeit gradually. However, even though a fresh wave of homes are coming to market, this boost to stock levels is unlikely to rebalance the scales. Therefore, we can expect property values to remain buoyant for the remainder of 2022,” said Marc von Grundherr, director of London estate agent Benham and Reeves.

“The increasing cost of borrowing and the wider economic backdrop may cause buyer demand to continue to cool further this year, albeit gradually. However, even though a fresh wave of homes are coming to market, this boost to stock levels is unlikely to rebalance the scales. Therefore, we can expect property values to remain buoyant for the remainder of 2022,” said Marc von Grundherr, director of London estate agent Benham and Reeves.

Rents in London have grown faster than anywhere else in the country for the second month running, with the average hitting £2,675. Londoners were found in February to already be dishing out more than 70 per cent of their monthly paycheck on their rent by city estate agent Benham and Reeves.

Research from London lettings and estate agent, Benham and Reeves, reveals that while homebuyers will, on average, have to pay 50% over London’s average house price to live near one of the city’s great parks, there are still some great parkside deals to be found where prices are up to -9.6% below the city average.

After the UK voted to leave the EU, there were fears of a long-term mass exodus from the international property market. However, the latest research by London lettings and estate agents, Benham and Reeves revealed that overseas buyers owned just shy of a quarter of a million homes across England and Wales.

“It’s not just domestic homeowners who have benefited from some extreme rates of house price appreciation in recent years and despite attempts to deter foreign interest, the value of homes owned by overseas buyers remains considerable, to say the least,” said the director of Benham and Reeves, Marc von Grundherr.

Our politics seems pretty broken to me and whilst I don’t wish to take a side between one flavour or the other, I do worry not just about the fragility of our political system and indeed our political class these days - but particularly about the effect of bad politics on the property sector.

Marc von Grundherr, Director of Benham and Reeves, commented: “London’s parks are one of its greatest attributes, helping rank the capital in the global top ten cities for green space.

London lettings and estate agent, Benham and Reeves, has revealed that homebuyer demand in the prime London property market has climbed on both a quarterly and annual basis.

Demand in the prime London property market has rebounded in Q2, with homebuyer activity rising on both a quarterly and annual basis, according to newly released data from Benham and Reeves.

A widespread shortage of available properties has pushed up prime London prices by 4.7% since the invasion, according to agents Benham & Reeves, although prices in Belgravia and Knightsbridge — popular locations for Russians — have climbed slightly less, at 3.3%.

With Russian oligarchs facing sanctions and therefore unable to sell their high-priced properties in London, luxury inventory in the city has tightened, putting upward pressure on prices. Prime London property prices have increased by 4.7% since Russia’s invasion of Ukraine, according to agents Benham & Reeves.

Russian tenants including students are also finding it hard to transfer funds due to sanctions, forcing them to withdraw from the market in London, said Marc von Grundherr, director at Benham & Reeves.

A widespread shortage of available properties has pushed up prime London prices by 4.7% since the invasion, according to agents Benham & Reeves, although prices in Belgravia and Knightsbridge - popular locations for Russians - have climbed slightly less, at 3.3%.

Around 400,000 properties were down valued last year, according to research by estate agent Benham and Reeves. The buyers affected were unable to get the loans required for the price they had agreed to pay.

"The fact that the annual rate of growth continues to breach double figures is quite astonishing. Although a slow in the rate of monthly house price growth may indicate an air of lethargy is starting to creep in following such a consistent run of upward growth, the market remains in very fine form. With market stock at a scarcity, it looks as though this upward trend is unlikely to subside any time soon, despite ongoing pressure in the form of the escalating cost of living and the threat of a further interest rate increase.”

Research from London lettings and estate agent Benham and Reeves has revealed which of London’s prominent “brandmarks” have the most significant effect on local housing prices.

The heavy downpour did not dampen the spirit of hosts and guests as they made their way to Preludio for an evening hosted by Breguet and Benham & Reeves that took us on a journey that ignited our sense of sight, sound, smell, taste and touch...

Marc von Grundherr, Director of Benham and Reeves, comments: “While the monthly cost of a mortgage looks set to keep on climbing, a good number of UK households can breathe a sigh of relief as Rishi Sunak pledges further money to help alleviate the cost of living crisis.

Meanwhile, London estate agents Benham and Reeves revealed that buyers are prepared to pay a 12 per cent premium for a gaff with a garden, an average of around £64,000 extra; rising to a head-swimming £166,000 in Kensington and Chelsea.

Marc von Grundherr, Director of Benham and Reeves, said: 'Despite the extensive delays to its actual delivery, Crossrail has been the gift that keeps on giving for homeowners living within arm's reach of a Crossrail station, with property values climbing considerably since it was first announced back in 2008.

Meghann Murdock 25 May 2022·2-min read Properties in Chelsea, where a home with a garden is priced £166,000 higher on average than one without outdoor space (Daniel Lynch) Properties in Chelsea, where a home with a garden is priced £166,000 higher on average than one without outdoor space (Daniel Lynch) Sixty per cent of London homes on the market have access to a garden but would-be buyers can expect to pay a premium of £64,000 on average for the outside space, according to new research from estate agent Benham and Reeves.

... buyers can expect to pay a premium of £64,000 on average for the outside space, according to new research from estate agent Benham and Reeves.

Benham and Reeves analysed property stock listed on the current market, revealing what percentage of homes in each borough of London come equipped with a garden, current demand for these properties based on the ratio that are already under offer or sold subject to contract, as well as the price premium they carry.

Marc von Grundherr, director of Benham and Reeves, said: “House prices have been soaring throughout the pandemic, but it looks as though the market has reached its Icarus moment, with buyer demand starting to come off the boil when compared to this time last year.

City Monitor analysis of property data collated by Benham and Reeves estate agents shows that across the 41 stations, the average house price has increased by 70% since May 2012, ahead of the national average of 65%. When the seven central London station postcodes are removed (from Paddington to Canary Wharf), the average house price has risen by 73%.

Annual house price growth dips to 9.8% in March: UK HPI

Anita Mehra, managing director of London-focussed agency Benham and Reeves, says before the pandemic, the lifecycle might involve a tenant typically renting a property for 12 months and then perhaps renewing for another year, before moving on.

Marc von Grundherr, a Director at Benham and Reeves, said: 'The winds of change are certainly starting to blow and and while this building economic headwind is yet to derail the phenomenal rates of house price growth being seen across the UK on an annual basis, it certainly seems as though dark clouds are gathering on the horizon with a reduction in pace already materialising on a monthly basis.'

Since being announced in 2008, London’s Crossrail has increased home prices by 79% in postcodes due to benefit from the new rail line, according to research released Tuesday from London-based lettings and estate agent Benham and Reeves. Properties in these areas now typically sell for a 14% premium compared to homes in the surrounding areas.

Since being announced in 2008, London’s Crossrail has increased home prices by 79% in postcodes due to benefit from the new rail line, according to research released Tuesday from London-based lettings and estate agent Benham and Reeves.

With the initial launch of Crossrail imminent, research by London lettings and estate agent, Benham and Reeves, has revealed that postcodes with stations due to benefit from Crossrail (CR) have seen house prices increase by 79% since the project was first announced, carrying a 14% premium versus the wider areas.

“Despite the extensive delays to its actual delivery, Crossrail has been the gift that keeps on giving for homeowners living within arm’s reach of a Crossrail station, with property values climbing considerably since it was first announced back in 2008,” commented the director of Benham and Reeves, Marc von Grundherr.

Marc von Grundherr, Director of Benham and Reeves, added: “The problem with announcements around planning reform, whilst it is badly needed, is that injecting more democracy on a local level is likely to clog up the system rather than improve it."

The research, by property company Benham and Reeves, shows that Hong Kong buyers currently have the biggest international footprint within the London market, accounting for the highest proportion of homes registered to foreign addresses in a total of 17 boroughs.

Benham and Reeves looked at the average base salary of eight different professions and their property purchasing power based on the average borrowing eligibility of 4.5 times their income.

Marc von Grundherr, director of Benham and Reeves, said: “Many lenders are now acting with a far greater degree of caution and for prospective buyers this means fewer product options at higher rates.

Marc von Grundherr, director of Benham and Reeves “Many lenders are now acting with a far greater degree of caution and for prospective buyers this means fewer product options at higher rates.”

“Many lenders are now acting with a far greater degree of caution and for prospective buyers this means fewer product options at higher rates,” said Marc von Grundherr, Director of London estate agents Benham and Reeves.

Director of Benham and Reeves, Marc von Grundherr, said: “Many lenders are now acting with a far greater degree of caution and for prospective buyers this means fewer product options at higher rates. This has inevitably reduced the number of buyers being approved for a mortgage, although those that have are still able to take advantage of a relatively affordable cost of borrowing.

According to research from estate agent Benham and Reeves, prime properties in London are selling for an average 3.6pc discount on their asking price ...

While buying a fixer-upper may be a more cost-effective way of climbing the property ladder, the long term cost of bringing such property up to standard is likely to see homebuyers pay more in the long run, according to research from London lettings and estate agent, Benham and Reeves.

Marc von Grundherr, Director of Benham and Reeves, comments: “As a nation, we’ve endured a prolonged period of economic instability due to the pandemic and yet more dark clouds are gathering due to the cost of living crisis. But despite this the UK property market remains a powerhouse of defiance, demonstrated by the fact that every region of the nation has reached record price highs in unison.

Marc von Grundherr, director of Benham and Reeves, said: “As a nation, we’ve endured a prolonged period of economic instability due to the pandemic and yet more dark clouds are gathering due to the cost of living crisis. But despite this the UK property market remains a powerhouse of defiance, demonstrated by the fact that every region of the nation has reached record price highs in unison.

More Singaporeans were looking to acquire property in London and this could be partially blamed for a 2.2 per cent increase in overall London home prices in February, Benham and Reeves executive says.

London lettings and estate agent, Benham and Reeves, claim that although prime London properties are subject to discounts, this discount is starting to decrease.

Benham and Reeves undertook analysis of the property market across London, Birmingham and Manchester and looked at the difference in house prices when commuting 15 minutes, 30 minutes, 45 minutes and an hour from the city centres.

While prime central London properties are still being discounted to the tune of £25,000 on average, this discount has started to reduce as demand has returned to the capital’s high-end market, according to research from Benham and Reeves.