60 Second Property Digest – house price forecasts, evolving offices, and ski index results
We take a look at some of the key research outputs from our global teams highlighting the latest UK house price forecasts, evolving office requirements, and the latest ski property index results.
2 minutes to read
UK housing market
Head of UK residential research, Tom Bill highlights the shift in attention away from the Bank of England and towards the Houses of Parliament.
As interest rates begin to steady, all eyes will be on the Autumn Statement announcement on 22nd November as discussions around support for buyers, stamp duty cuts and the Renters Reform Bill begin to heat up.
This sits against a backdrop of a subdued Autumn for the UK housing market, where stubbornly high inflation impacted interest rates. Although inflation has finally shown signs of abating, the 4.6% is still more than double the 2% target set by the Bank Of England.
Following volatility this summer we expect UK house prices to fall by 7% this year, more than the -5% predicted in March.
Global office market quality on the rise
The global office workplace experiment is still in full swing as employers and employees continue to adapt to changing workplace requirements post-pandemic.
Christine Li, head of research for Asia-Pacific, delves deeper into the Knight Frank Cresa YOUR SPACE survey that shows 51% of corporate real estate leaders are expected to raise the quality of space within their portfolio within the region.
Christine goes on to highlight the shift towards employee well-being, she says: "Sparked by health and safety concerns during the pandemic, priorities for Asia-Pacific employees have also evidently shifted towards health and wellness. While the focus was mostly on physical aspects before the pandemic, it is no longer just about installing ergonomic furniture. Instead, the concept of well-being has become more holistic."
Luxury ski chalet prices increase
Elsewhere, we recently launched our Ski Property Report 2024, the definitive guide to property markets in the world's top ski destinations.
Research from Kate Everett-Allen, Global head of International Residential Research shows that despite challenging economic and climate conditions, on average the price of a luxury ski Chalet is up 4.4% in the last 12 months, 17% higher than at the start of the pandemic.
Subscribe for more
Get exclusive market analysis, news and data from our research team, straight to your inbox.
Subscribe here