Amid signs that some housing market trends are heading back towards the pre-pandemic era, research from Rightmove has found that London has been the most searched-for area among Britain’s home buyers in 2022.
Properties in Scotland have topped the list of locations where properties have been the fastest to sell this year.
And as living costs bite, there have been signs that renters are increasingly looking for certainty over their bills.
Rightmove said searches on its website for “bills included” when looking for rental properties were 57 per cent higher than a year ago.
The website identified Livingston in West Lothian, Scotland, as this year’s quickest market for home buyers, with properties being snapped up in 15 days on average.
During several months of 2021, Cornwall replaced London as the most searched-for location on Rightmove, as people looked for coastal homes during the coronavirus pandemic.
London luxury property Mansion House - in pictures
Rightmove said this trend reversed in 2022, as buyer search behaviour returned towards pre-pandemic patterns.
Searches for London have increased by 9 per cent compared with last year, while searches for Cornwall dropped by 18 per cent and those for Devon fell by 17 per cent, the website said.
London now has 36 per cent more buyer searches than Cornwall compared with just 3 per cent last year, Rightmove said. This is the biggest gap since before the pandemic, in 2019.
London luxury property Cadogan Square - in pictures
“This year people searching for their next home have well and truly returned to the capital," said Tim Bannister, Rightmove’s property expert.
"We started to see the tide turning towards the end of last year, and throughout 2022 a lot of our trends in the market have started to head back towards where they were in 2019."
Nationwide Building Society said on Tuesday that the housing market might achieve a “relatively soft landing” next year, with activity stabilising modestly below pre-pandemic levels and house prices edging lower, perhaps by about 5 per cent.
London property Rutland Gate - in pictures
“For the first three quarters of 2022 the housing market was remarkably resilient," said Robert Gardner, Nationwide’s chief economist.
“For much of the year, activity levels remained at or above pre-Covid levels, with annual house price growth in double digits, despite intense pressure on household finances from surging inflation and a steady rise in mortgage interest rates.
“Between January and August, the average UK house price increased by almost £20,000 ($24,000), from £255,556 to £273,751.”
Luxury London property Warwick Lodge – in pictures
Here are the most searched-for areas among home buyers in 2022, according to Rightmove:
1. London
2. Cornwall
3. Devon
4. Bristol
5. Glasgow
6. Manchester
7. Edinburgh
8. Sheffield
9. York
10. Cambridge
And here are the locations where properties have sold the fastest this year, according to Rightmove, with the average house asking price and the average number of days to sell a property. All are in Scotland.
1. Livingston, West Lothian, £192,695, 14.7
=2. Bo’ness, West Lothian, £160,710, 15.4
=2. Larbert, Stirlingshire, £215,189, 15.4
4. Falkirk, Stirlingshire, £142,465, 15.6
5. Bellshill, Lanarkshire, £118,883, 15.8
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press
Brief scores:
Toss: Sindhis, elected to field first
Kerala Knights 103-7 (10 ov)
Parnell 59 not out; Tambe 5-15
Sindhis 104-1 (7.4 ov)
Watson 50 not out, Devcich 49
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Global state-owned investor ranking by size
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1.
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United States
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2.
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China
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3.
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UAE
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4.
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Japan
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5
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Norway
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6.
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Canada
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7.
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Singapore
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8.
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Australia
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9.
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Saudi Arabia
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10.
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South Korea
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More coverage from the Future Forum
Zayed Sustainability Prize
POSSIBLE ENGLAND EURO 2020 SQUAD
Goalkeepers: Jordan Pickford, Nick Pope, Dean Henderson.
Defenders: Trent Alexander-Arnold, Kieran Trippier, Joe Gomez, John Stones, Harry Maguire, Tyrone Mings, Ben Chilwell, Fabian Delph.
Midfielders: Declan Rice, Harry Winks, Jordan Henderson, Ross Barkley, Mason Mount, Alex Oxlade-Chamberlain.
Forwards: Harry Kane, Raheem Sterling, Marcus Rashford, Jadon Sancho, Tammy Abraham, Callum Hudson-Odoi.
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The most expensive investment mistake you will ever make
When is the best time to start saving in a pension? The answer is simple – at the earliest possible moment. The first pound, euro, dollar or dirham you invest is the most valuable, as it has so much longer to grow in value. If you start in your twenties, it could be invested for 40 years or more, which means you have decades for compound interest to work its magic.
“You get growth upon growth upon growth, followed by more growth. The earlier you start the process, the more it will all roll up,” says Chris Davies, chartered financial planner at The Fry Group in Dubai.
This table shows how much you would have in your pension at age 65, depending on when you start and how much you pay in (it assumes your investments grow 7 per cent a year after charges and you have no other savings).
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Age
|
$250 a month
|
$500 a month
|
$1,000 a month
|
|
25
|
$640,829
|
$1,281,657
|
$2,563,315
|
|
35
|
$303,219
|
$606,439
|
$1,212,877
|
|
45
|
$131,596
|
$263,191
|
$526,382
|
|
55
|
$44,351
|
$88,702
|
$177,403
|
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
