DATA: Rightmove reported 6.3% annual rise in asking prices in November
They reported a monthly fall in asking prices but this is usual for this time of the year as the index is not seasonally adjusted. The number of new listings remains lower than recent years and the average stock per agent (including under offer and sold subject to contract) was 13% lower in October 2021 than the same month in 2019.
DATA: ONS reported UK house price rose 11.8% in the year to September
This was an increase from last month’s figure of 10.2%, though it’s possible these figures may be revised due to low sample numbers caused by the lag in sales being registered. Regional data showed high house price growth (9%+) in all regions except London (2.8%).
DATA: ONS reported a continued recovery in the UK’s labour market
The data showed the number of payrolled employees above pre-pandemic levels while the unemployment rate fell to 4.3%. Average weekly earnings rose 4.4% compared to last year, a lower rate than last month as temporary factors relating to the pandemic reduce.
DATA: DLUHC reported affordable housing data for England, 2020-21
They reported 52,100 affordable homes (all tenures) were delivered in 2020-21, an 11.5% fall compared to the previous year. This is most likely due to the impact of the pandemic.
DATA: ONS reported £1.4 billion Stamp Duty Land Tax receipts in October
See Chart of the Week for more information.
DATA: Zoopla reported UK private rents rose 6% in year to Q3
They reported “Strong rental demand in Q3 pushed rental growth to the highest levels in 13 years” with London also reported growth for the first time since the pandemic hit.
REPORT(pdf): BPF report on “Who lives in Build-to-Rent?”
The report provides a summary of the profile of build-to-rent residents and they are more likely to be younger, live as couples, be students or finance/professionals, and have higher incomes than residents in the wider private rented sector.
REPORT: CaCHE reported on “Living Through The Building Safety Crisis”
The report “discusses the mental wellbeing impacts of the building safety crisis” and “outlines the spectrum of wellbeing harms that were experienced by those living through the crisis and the different drivers of harms”.
Chart of the Week
Today’s ONS Stamp Duty Land Tax (SDLT) data showed £13.4 billion in total receipts for the year to Oct 2021. That’s the highest level since April 2018 and is not far off the Jan 2018 peak of £13.7 billion (based on nominal prices). As we’ve also seen in other data, it appears lots of buyers have still been liable for SDLT this year despite the extended tax holiday.