The Real Deal - New York Real Estate News

UK home prices hit a low not seen since 2012

Posted: 05 Jul 2020 09:00 AM PDT

Home prices in the United Kingdom dropped ever so slightly year-over-year in June, the first annual drop since December 2012. Pricing across the country was 0.1 percent lower last month than it was in June of 2019, according to a study by mortgage lender Nationwide Building Society and reported by the Guardian. Prices fell by 1.7 percent from May to June, a more significant drop than the 1.4 percent seen in December 2012. The flattening

Buyers from Hong Kong and China are scooping up London’s luxury inventory

Posted: 05 Jul 2020 06:00 AM PDT

Buyers from Hong Kong and mainland China now make up the biggest portion of foreign buyers of luxury London real estate. They account for 15 percent of international transactions for property above 1 million pounds and 20 percent of deals above 10 million pounds, according to data from brokerage Beauchamp Estates first reported by Mansion Global. Russian and Indian nationals were previously the biggest buyers in London. U.K. agents are well-equipped to cater to remote