Latest news with #propertysales
Daily Mail
12 hours ago
- Business
- Daily Mail
Britain's booming housing markets: Rightmove reveals 10 areas where sales have skyrocketed
Some parts of Britain saw property sales almost double in the last year, new data has revealed. May 2025 saw the largest number of agreed property sales out of any month since March 2022, according to Rightmove - and property portal Rightmove has named the towns which have seen the biggest spike. May is typically a busy point in the year for agreed sales, which is when an offer has been made and accepted. However, this year's figure reflects an improvement in housing market conditions, according to Rightmove. Across the UK, the number of sales agreed is now 6 per cent ahead of the same period last year. However, this trend is more prominent in some areas than others. In Wales, the number of sales being agreed is 15 per cent higher than at this time last year, whereas in London the figure is just 1 per cent higher. Heywood is property hotspot May's sales hotspot is Heywood in Manchester, with 88 per cent more buyers agreeing a deal to purchase than this time last year. Next is Pudsey in West Yorkshire, where there has been 85 per cent more property sales agreed year-on-year. Wilmslow in Cheshire has also seen a surge in activity with a two thirds increase in sales compared to May last year. These areas are doing well as buyers are looking for both affordability and value, according to Colleen Babcock, a property expert at Rightmove. She says that while mortgage rates have come down significantly from the peak, they are only slightly down from this time last year. Nine out of the top ten sales hotspots in May have an average price tag below the current national average. 'This month's hotspots reflect broader market trends driven by affordability and attractive property prices,' said Babcock. 'With mortgage rates higher than the lows we saw post financial crisis, and affordability stretched, many buyers are continuing to look for value, which is likely reflected in the lower than average prices of some of the current hotspots. 'With the overall number of sellers continuing to run at a decade-high, sellers need to also be mindful of the competition they might face from other sellers trying to secure a buyer in their area. 'Working with a local agent to price realistically and competitively for that market, rather than pricing too high, is one way to increase the likelihood of a successful sale.' Best mortgage rates and how to find them Mortgage rates have risen substantially over recent years, meaning that those remortgaging or buying a home face higher costs. That makes it even more important to search out the best possible rate for you and get good mortgage advice, whether you are a first-time buyer, home owner or buy-to-let landlord. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you To help our readers find the best mortgage, This is Money has partnered with the UK's leading fee-free broker L&C. This is Money and L&C's mortgage calculator can let you compare deals to see which ones suit your home's value and level of deposit. You can compare fixed rate lengths, from two-year fixes, to five-year fixes and ten-year fixes. If you're ready to find your next mortgage, why not use This is Money and L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and LC
Arabian Business
a day ago
- Business
- Arabian Business
Dubai real estate hits record $18.2bn in sales in May 2025 as ready transactions quadruple
Dubai's real estate market has saw AED66.8bn ($18.2bn) in property sales across 18,700 deals in May 2025, according to Property Finder. It marks a 44 per cent year-over-year increase in value and a 6 per cent rise in transaction volume. The record-breaking performance reflects growing investor confidence and sustained interest in both ready and off-plan properties. Dubai real estate in May 2025 The sharp surge was led by primary ready transactions, which quadrupled in value year-over-year to reach AED17.9bn ($4.88bn) across 2,400 deals—a 314 per cent increase in value and 145 per cent rise in volume. Meanwhile, secondary ready sales also hit historic highs, totalling AED24bn ($6.55bn) across 6,078 transactions, up 21 per cent in value and 8 per cent in volume compared to May 2024. Market highlights: Primary market dominance: Off-plan and ready sales rose by 65 per cent to AED37bn ($10.1bn) Secondary market resilience: Transactions surged to AED29bn ($7.9bn) across 8,471 deals, up 23 per cent in value and 15 per cent in volume Business Bay led premium investments, making up 5 per cent of total value from just 3 per cent of transactions Al Barsha saw high transaction volume, accounting for 5 per cent of deals A single AED1.5bn ($409m) land deal in Palm Deira highlighted institutional confidence in long-term growth Consumer trends: Apartments remained the top choice among both renters and buyers. 78 per cent of rental searches and 60 per cent of buyer interest focused on apartments. Studios drew 21 per cent of rental searches but just 15 per cent of purchase interest One-bedroom units led demand with 38 per cent of rental and 35 per cent of buyer searches, suggesting buyers prefer larger spaces for long-term value and liveability Expert insight Cherif Sleiman, Chief Revenue Officer at Property Finder, said: 'Just when we thought April was Dubai's most significant month in terms of transaction value at AED62.1 bn, May eclipsed this with AED66.8 billion in transaction value. This underscores the sustainability of the trends driving current growth. 'Dubai continues to lead real estate innovation by example, as evidenced by the recent launch of the region's first licensed tokenised property investment platform by Dubai Land Department. 'With the remarkable growth in population this year, welcoming nearly 1,000 new residents each day – double of last year's daily visitor arrivals, demand for housing is poised to reach peak levels. 'Against this backdrop, the real estate market is enjoying positive momentum, fuelled by digital transformation, international investor appetite, and a surge in demand for premium living. 'Real estate leaders who participated in Property Finder's recent roundtable are confident of transaction activity picking up throughout 2025, buoyed by unprecedented interest from international investors, alongside a strong off-plan performance and vibrant luxury resale activity.
Zawya
2 days ago
- Business
- Zawya
Dubai real estate records AED 54.4bln in may transactions
AED 54.4 billion in total sales value in May 2025, up 39.08% YoY 17,475 transactions recorded, up 6.5% YoY and 15.3% MoM Off-plan accounted for 60.2% of volume; steady absorption observed in completed prime zones Dubai's population reached 3.95 million, reinforcing demand fundamentals Dubai: Dubai's residential market demonstrated resilient capital performance in May 2025, recording AED 54.4 billion in transactions; a 39.08% increase year-on-year. A total of 17,475 transactions were registered, reflecting both depth and consistency across off-plan and ready segments. This activity was underpinned by structured developer launches, accessible mortgage rates, and sustained inflows of foreign capital. Off-plan sales represented 60.2% of total market volume, driven by investor confidence in phased masterplans, payment flexibility, and community-led offerings. The secondary market accounted for 39.8% of transactions, led by end-user activity in villa-led zones and branded residential stock. Pricing remained broadly stable across key family-oriented districts, including Dubai Hills Estate, Business Bay, and Jumeirah Village Circle. Farooq Syed, CEO of Springfield Properties, stated: "The data reflects a market moving in sync with structural demand. Developers are not chasing volume; they're curating value. Buyer decisions are increasingly grounded in long-term asset performance, product integrity, and urban positioning. That alignment is what continues to set Dubai apart.' Jumeirah Village Circle led transactional volume with 1,800 deals at an average price point of AED 1.07 million, highlighting the sustained appetite for mid-market livability. Meanwhile, Palm Jumeirah and Downtown Dubai continued to anchor high-value activity, with average sales exceeding AED 5 million across branded and waterfront stock. Favourable financing conditions remained a key pillar of buyer activity, with sub-4% fixed mortgage offerings available across major lenders. Currency movements further supported international transactions, with buyers from Europe, India, and Russia capitalising on improved AED affordability amid FX fluctuations. Dubai's population reached approximately 3.95 million in May, reinforcing leasing and ownership demand across both villa and apartment segments. High-absorption areas included Palm Jumeirah and Jumeirah Islands, where average villa rentals exceeded AED 1.2 million. Branded apartments in Business Bay and Dubai Creek Harbour maintained strong yield performance and stable occupancy. 'We're seeing strong absorption in thoughtfully released inventory, with developers pacing launches in line with population growth, financing cycles, and real end-user priorities 'added Syed. As Q2 progresses, Dubai's residential market continues to show consistency in transaction volume and pricing across both off-plan and completed inventory. Developer activity remains disciplined, with launches paced to match buyer demand and capital absorption. Supported by financing stability and population growth, the market outlook remains steady across key segments. About Springfield Properties Springfield Properties, headquartered in Dubai, is a beacon of innovation and excellence in the real estate industry. With a team of over 140 dedicated realtors, we are committed to reshaping the financial landscape with a forward-thinking, human-centric approach. Our mission revolves around assisting value-driven investors, individuals, and businesses in achieving financial success while upholding the highest standards of integrity and market expertise. We understand that every client is unique, and our goal is to provide tailored solutions that meet their specific needs. As a dynamic force in the real estate industry, we seamlessly blend innovation and expertise to deliver exceptional results. We harness the power of real-time, data-driven insights while maintaining a deep understanding of the ever-evolving financial landscape in the UAE. Springfield Properties earned the trust of our clients through unmatched market insight and a commitment to excellence. Since our establishment in 2008, we have consistently demonstrated our ability to meet and exceed our clients' expectations. - Facebook: Springfield Properties | Dubai | Facebook - Twitter: Springfield Properties | Dubai | Facebook - LinkedIn: Springfield Properties | LinkedIn - YouTube: Springfield Properties - YouTube
Bloomberg
4 days ago
- Business
- Bloomberg
China Home Sales Slump Drags On as Deflation Eats Into Incomes
China's residential property sales continued to fall on in May, signaling the real estate slump is still weighing on an economy that's under pressure from deflation and trade tensions. The value of new-home sales from the 100 largest property companies slid 8.6% from a year earlier to 294.6 billion yuan ($40.9 billion), according to calculations based on preliminary data from China Real Estate Information Corp. That follows an 8.7% decline in April.
Yahoo
5 days ago
- Business
- Yahoo
Cumbrian housing market 'cautiously optimistic' says estate agent after price rise
The housing market in Cumbria is 'cautiously optimistic' according to a Penrith estate agent. The Rightmove House Price Index for April showed a 'substantial' 14 per cent increase in the number of sales instructions from new sellers compared to the same period last year. The number of sales agreed was up 5 per cent, and the average asking price was 2.3 per cent higher than at the same time in 2024. The provisional average house price in the Cumberland Council area in March 2025 was £168,000. This was higher than the average of £154,000 in March 2024 (revised), an 8.7 per cent rise according to the Office for National Statistics (ONS). Rents in the council area in April 2025 had also risen by 8 per cent from the same month last year with the average monthly private rent in the Cumberland Council area being £618. 'April certainly brought a sense of hesitancy, particularly following the stamp duty changes,' said H&H's valuer in Penrith, Grace Oakley. 'However, the early signs of a bounce back in May, including an upturn in agreed sales and renewed buyer interest, could signal a return in confidence.' First-time buyers currently appear to be the most active sector in the local market according to Grace. 'Generally speaking, properties up to £250,000 are selling very well and this price bracket remains in high demand, driven by buyers eager to take their first step on the property ladder,' said Grace. 'Affordable properties in rural areas are extremely popular. READ MORE: Labour group paid almost £3,000 in Cumberland Council error | News and Star 'We're also continuing to see steady interest in properties with a couple of acres, particularly those suitable for horses or ponies. These often attract a different type of buyer, typically cash buyers with a clear lifestyle goal.' 'While it remains to be seen whether the renewed interest seen in May will continue to bolster the market in the coming months, the signs are cautiously optimistic. 'As always, our experienced team is closely monitoring the property landscape to help both buyers and sellers make the best-informed decision and of course to maximise sales.'
