<p><em>Two years on from the first lockdown we had hoped that 2022 would bring greater stability, allowing the much-anticipated PCL recovery to progress. Sadly, this hasn&rsquo;t come to pass, with the war in Ukraine, the ongoing impact of Covid-19 and concerns over the rising cost of living all preying on the minds of households. Yet despite a far from certain year ahead the PCL market has again proved resilient.&rdquo;</em></p><p><em>We still expect PCL to be one of the best performing markets in 2022, as the resurgence of the city continues.&nbsp; However, overseas buyers, the return of whom we are expecting to trigger a new wave of activity and price growth in PCL, may take a little longer than hoped to return.</em></p><p><em>The PCL lettings market starts 2022 in a very different position. In Q1 last year we had seen rents fall by more than 10% annually and supply levels were still climbing. But a year on and rents are 15% higher than in Q1 2021 and now exceed their pre-pandemic peak. But there are signs the market is settling and we anticipate annual growth in rents will have peaked in Q1. But with supply still below historic levels there could be room for further increases in the coming months too.</em><em></em></p>
<p><strong>PCL Sales</strong></p><ul><li>The JLL PCL Sales Index recorded a 3.3% annual increase in achieved prices in Q1 2022, with prices up 0.6% on Q4 2021. </li><li>Achieved prices now 4.7% higher than pre-pandemic in Q1 2020. </li><li>10% fall in properties on the market now compared with the quarter end in Q1 2021. </li></ul><p>There were high hopes for the PCL market at the start of 2020, with a flurry of activity prior to the first lockdown in March. Now, two years on, PCL is again seeing activity increase, although delays in overseas buyers returning to the market may mean
    the recovery is more muted than we&rsquo;d hope in the short term. </p><p>In Q1 2022 PCL recorded a 7% annual increase in sales according to LonRes, making the first quarter the busiest Q1 for five years. Activity was strongest between &pound;2million and &pound;5 million, with sales up 25% on Q1 2021. There were fewer sales
    at the top end, with homes sold for &pound;5 million or more down 10% on the same three months a year ago. &nbsp;As Londoners return to the office, we have seen demand for flats rise too, with the number of flats sold in the first three months of
    2022 rising 13% annually compared with an 11% fall in the number of houses. </p><p>Prices are rising, albeit with central London yet to experience the double-digit growth seen outside the capital over the last 12 months. The Q1 2022 JLL PCL Sales Index recorded a 3.3% annual increase in achieved prices. Prices paid in Q1 2022 now 4.7%
    higher than those achieved pre-pandemic in Q1 2020. </p><p>Stock levels have fallen this year, with the number of new instructions not keeping pace with sales. At the end of Q1 2022 there were 10% fewer properties on the market compared with the same point a year ago. Albeit with available stock levels remaining
    14% higher than in March 2019 and 16% higher than March 2020.</p><p>As restrictions were lifted last year, we had hoped the much-lauded return of the overseas buyer would begin in Q1 2022. But with the uncertainty surrounding the war in Ukraine and further Covid restrictions in Asia it appears we&rsquo;ll be waiting a
    little longer.&nbsp; Although some overseas buyers are returning to the market, demand continues to be predominantly domestic. </p><p>For overseas buyers re-entering the PCL market, combining exchange rate fluctuations with PCL price falls still makes a compelling case for investment. Comparing prices paid in US dollars shows buyers in Q1 2022 are paying, on average, 26% less in dollars
    than at the peak of the market in 2014. Chinese buyers could save an average of 22%, with those purchasing in Euros paying 14% less for PCL homes. For domestic buyers savings are more modest at 7%. </p>
<p><strong>PCL Lettings</strong><strong></strong></p><ul><li>The JLL PCL Rental Index recorded a 15.0% annual increase in achieved rents in Q1 2022, the highest annual rise for over a decade. </li><li>This follows a 10.4% annual fall a year ago in Q1 2021, when we saw achieved rents bottom out across PCL.</li><li>Achieved rents are now 3.1% higher than pre-pandemic in Q1 2020. </li><li>Stock levels down 71% on March 2021.</li></ul><p>The PCL lettings market has made up significant ground over the last 12 months.&nbsp; Rents, which bottomed out in Q1 2021 have rebounded, now 15.0% higher than they were a year ago. The highest annual growth in achieved rents since Q3 2011. Of course,
    this is off a low base, with Q1 2021 seeing rents drop 10.4% compared with pre-pandemic levels. &nbsp;</p><p>There has been a trickle of new properties reaching the market. Stock levels are higher than the historic lows we experienced at the end of 2021 but remain significantly below the long run average. &nbsp;With 71% fewer properties listed compared with
    the end of the first quarter last year and 59% lower than the 2018 to 2020 Q1 average.</p><p>With achieved rents now higher than their pre-lockdown peak, we expect a return to more normal market conditions over the course of the year. Rents rose 1.1% this quarter, down from a 3.7 % quarterly rise in Q4 2021. </p><p>Tenants, who a year ago were able to negotiate significant reductions on asking rents, are facing higher rents on renewal. In some case this is meaning tenants are leaving, however many, who see how competitive the market is, are paying more and remaining
    in situ. JLL data showing an 18% annual increase in the number of renewals across PCL in Q1 2022 compared with Q1 2021.</p>
<p><strong>Marcus Dixon &ndash; Director of UK Residential Research</strong></p>

Prime Central London – Q1 2022

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Sales volumes increased again this quarter in prime central London and both prices and rents rose as the city re-opens and buyers and tenants return.&nbsp;

Sales volumes increased again this quarter in prime central London and both prices and rents rose as the city re-opens and buyers and tenants return. 

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<p><strong>Rising household bills put energy efficiency far higher on occupiers list of must haves for their next home. Could the new homes industry benefit and attract a new wave of buyers and tenants seeking out more energy efficient options?</strong></p><p>Director of UK Residential Research at JLL, Marcus Dixon, explains: <em>&ldquo;Increasing the energy price cap on 1 April could see bills for the average band G home hit almost &pound;5,000 a year, up &pound;145 per month on current rates. More efficient homes don&rsquo;t escape the price rises either, albeit those paying energy bills for homes in bands A to C will be on average &pound;3,246 a year better off than their neighbours in a band G home.&rdquo;</em></p><p><em>&ldquo;New homes are already blazing the eco trail, with more than 4 in every 5 new homes built now in the top two EPC bands, compared with less than 1 in 20 existing properties. We must also push forward with retrofitting existing stock, although this remains a complex, costly, and lengthy endeavour.&nbsp; But there is an opportunity here for the new homes industry, offering best in class efficiency and tapping into demand from households who not only want to do their best for the climate, but also save themselves money too.&rdquo; &nbsp;</em></p><p align="center"><strong>Rising energy costs push buyers towards more efficient homes</strong></p><p>Inflation hit a 30 year high in February, with the Consumer Price Index (CPI) recording an annual increase of 6.2%, up from 5.5% in January. Monthly figures show a 0.8% increase, the largest CPI rise between January and February since 2009. Food, fuel, and energy costs are the key drivers behind these rises as the squeeze on household incomes continues. </p><p>In his Spring statement on 23 March, the Chancellor announced that fuel duty will be reduced by 5 pence per litre until March 2023. But household energy bills still look set to soar, as the price cap, which limits the maximum amount suppliers can charge for each unit of electricity and gas, will rise at the end of March. </p><p>JLL Research have looked at average household energy bills for homes with EPC ratings from the most efficient (A) to the least (G).&nbsp;</p><p><strong>Implications of the lifting of the price cap by EPC band</strong></p><img alt="" src="https://cms-resi.eu.jll.com/images/default-source/agency/graph-1.png?Status=Master&amp;sfvrsn=9b7b074_1" sf-size="100" /><p><em>Source: JLL Research/ ONS</em></p><p>On average, the lifting of the price cap could mean households paying upwards of 54% more on their energy bills from 1 April. Even more efficient homes in band A to C could see an annual increase of &pound;600 per annum. Homes in band G, the least efficient, seeing bills rise from &pound;3,207 to &pound;4,950, &pound;1,743 more per annum. </p><p>Improving the energy efficiency of your home could help, with households in Band G seeing a saving of &pound;1,362 per annum if they improved their home by just one band, or a saving of &pound;2,888 if they manage to gain a band D rating on a band G property. </p><p><strong>Lessons from the motor industry?</strong></p><p>With the price of fuel at the pumps up 22.4% in the last 12 months, more buyers are choosing electric vehicles. The SMMT report electric vehicles (BEV) accounted for 17.7% of vehicles sold in February 2022, more than double the market share a year ago of 6.9%. </p><p>With consumers becoming more environmentally aware and energy cost spiralling, many will be looking more closely at their homes too. Research from the Home Builders Federation (HBF) suggests occupiers are becoming more aware of energy consumption and efficiency of their homes. In their most recent survey, the HBF state that 3 in 4 people are worried about their home&rsquo;s energy performance, with 1 in 4 respondents citing energy efficiency will be a crucial factor in their next home move.</p><p>One approach is decarbonising their existing home, however costs for retrofitting existing buildings are far higher than incorporating these features into a new build property, even after the VAT rate on installing energy efficiency measures was cut in the Spring statement from 5% to 0%. &nbsp;A report by the Climate Change Committee suggesting the cost of building a highly efficient new build home adds an additional &pound;5,000 to build cost, whereas the bill for retrofitting an existing home would be almost five times more at &pound;23,000. </p><p>This surely means the appeal of new build homes will increase. In 2021, 84% of new build homes achieved an A or B rating in their EPC compared with just 4% of existing properties.&nbsp;</p><p><strong>About JLL | March 2022</strong></p><p>JLL is a leading global professional services firm specialising in real estate and investment management, with $16.6bn annual revenue in 2020, operations in over 80 countries and a global workforce of over 90,000.&nbsp; With over 7,000 employees and 15 offices in the UK, we support our investor, developer and occupier clients at every stage of the property lifecycle across both commercial and residential asset classes. This includes land purchase, access to capital, planning, development advisory, leasing, building management and sales. </p><p>JLL&rsquo;s Residential and Living team consists of over 300 professionals who provide a comprehensive end-to-end service across all residential property types, including social housing, private residential, build to rent, co-living, later living, healthcare and student housing. </p><p><br /></p><p><sup>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</sup></p><sup></sup><p><sup>Data within this report is based on material/sources that are deemed to be reliable and has not been independently verified by JLL. JLL makes no representations or warranties as to the accuracy, completeness or suitability of the whole or any part of the report which has been produced solely as a general guide and does not constitute advice. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. JLL, its officers, employees shall not be liable for any loss, liability, damage or expense arising directly or indirectly from any use or disclosure of or reliance on such report. JLL reserves the right to pursue criminal and civil action for any unauthorized use, distribution or breach of such intellectual property.</sup></p><p></p><p></p><p></p><p></p>

What rising energy costs mean for UK homes

<p>What rising energy costs mean for UK homes</p>

Is interest in new build homes set to rise as increases in energy costs start to bite?  

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<h2 style="padding-top:0px !important;">An Exciting New Neighbourhood </h2><p>In the last few years, we've witnessed an evolution of Canary Wharf from a working weekday corporate epicentre to a highly desirable - and liveable - central London neighbourhood. Exceptional retail, restaurant and leisure options, combined with varied transport connectivity and close proximity to some of the city's most prized green spaces have all contributed to a shift in the way residents perceive this part of East London.</p><p>The new Elizabeth
    Line station at Canary Wharf was handed over to TFL in early 2022; the 250 metre structure being located in a former dock. With trains every five minutes at peak times, travellers will be able to reach Paddington in 17 minutes, Heathrow in under 40
    minutes and the City in less than 10 minutes. </p><p><sub>Source: JLL Research / Land Registry / TFL / Dataloft</sub></p><h2 style="padding-top:0 !important;">Canary Wharf in numbers</h2><style>.height-100 {
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<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">42%</p><p>Of homes in Canary Wharf are private rented compared with 25% London wide</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">26%</p><p>Of households in Canary Wharf are families</p></div></div></div></div></section>
<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">82,000
 </p><p>Number of people exiting at Canary Wharf underground station on a weekday (pre-pandemic)</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">10th busiest
                    </p><p>Canary Wharf underground is one of the busiest Underground stations in London (2019)</p></div></div></div></div></section>
<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">534</p><p>Number of residents per restaurant, compared with London average of 1,023</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">154,000</p><p>Workday population of Canary Wharf</p></div></div></div></div></section>
<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">58,223</p><p>Number of people who call Canary Wharf home</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">940,000 sqft</p><p>of shops, restaurants, bar and amenities in Canary Wharf</p></div></div></div></div></section><h2>Jubilee first for 4G</h2><p>In 2020 the Jubilee Line between Westminster and Canning Town was the first to allow passengers 4G connectivity on train and platforms.</p><h2>Canary Wharf future</h2>

<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p style="text-align:left;">The new Elizabeth Line station at Canary Wharf was handed over to TFL in early 2022, the 250 metre structure being located in a former dock. With trains every five minutes at peak times, travellers will be able to reach Paddington
                        in 17 minutes, Heathrow in under 40 minutes and the City in less than 10 minutes.</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1650947322/resi/gb/cms/News/Images/Spotlight%20on%20Canary%20Wharf/Crossrail_Place-min.jpg" /></div></div></div></div></section><h2>Canary Wharf &ndash; sales market</h2><p>Demand for homes in Canary Wharf has risen this year, with JLL seeing a 48% annual increase in the number of new home reservations in the year to March 2022. </p><p>Buyers in 2022 favour larger homes.&nbsp; The floor area of new properties sold by JLL in Canary Wharf this year&nbsp; averaged 745 square foot, up from 595 square foot in 2021. 54% of properties sold so far this year had two or more bedroom compared
    with just 28% in 2021.</p>

<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">2000</p><p>The year the first sale over &pound;1 million was recorded in Canary Wharf</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">93%</p><p>of sales in the last 12 months were flats</p></div></div></div></div></section>

<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">8%</p><p>Of properties sold in the last 12 months achieved &pound;1 million or more
                    </p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">61%</p><p>Of new developments in Canary Wharf have average asking prices of &pound;1,000 per square foot or more</p></div></div></div></div><h2>Average achieved prices and key events - Canary Wharf</h2></section><img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1650434505/resi/gb/cms/News/Images/Spotlight%20on%20Canary%20Wharf/Sales_Market_1.png" data-sf-ec-immutable=" " sf-size="100 " alt=" " /><h2>Canary Wharf &ndash; rental market </h2><p>Stock levels have not kept pace with demand across Canary Wharf in recent months, supporting growth in achieved rents. The number of properties on the market now compared with the same point a year ago has dropped by 30% in Canary Wharf. </p><p>Rents achieved across Canary Wharf in Q1 2022 averaged &pound;506 per week. This increase has been driven in part by demand for high specification apartments in new developments. But increased demand this year compared with last has meant landlords have
    been able to increase rents on renewal too. Comparing achieved prices per units this year with the same period in 2021 shows rent achieved on renewal rose by an average of 13.1%.</p>

<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">27%</p><p>Of tenants are students</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">49%</p><p>Of tenants already lived locally, having moved less than a mile</p></div></div></div></div></section>

<section><div class="row">

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">20%</p><p>Annual increase in the number of viewings booked for rental properties in Canary Wharf</p></div></div></div>

 <div class="column-two height-100"><div style="max-width:540px;"><div><p class="red">69%</p><p>Of tenants are under 30 years old.</p></div></div></div></div><h2>Average rent achieved - Canary Wharf</h2></section><img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1650434505/resi/gb/cms/News/Images/Spotlight%20on%20Canary%20Wharf/Rental_Market_Graph_1.png" data-sf-ec-immutable=" " sf-size="100 " alt=" " /><p>&nbsp;</p>

Spotlight on Canary Wharf

Demand for homes in Canary Wharf has risen this year, with JLL seeing a 48% annual increase in the number of new home reservations in the year to March 2022.


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<p style="font-size:18px;"><strong>The sponsorship culminated in a panel discussion on the importance of the relationship between interior design and architecture</strong></p><p>We are proud to announce that we will act as lead sponsor of Design Centre, Chelsea Harbour for London Design Week, a six-day event celebrating London as the design capital of the world. Set to begin with a global online launch on Sunday 13 March, before
    a physical programme begins at Chelsea Harbour&rsquo;s Design Centre on Monday 14<sup>th</sup> until Friday 18<sup>th</sup> March. The event will showcase a line-up of renowned speakers at panel events, as well as established makers and luxury brands
    that are shaping the future of interior design. </p><p>This partnership with Design Centre, Chelsea Harbour is particularly significant as it represents the coming together of two powerhouses of interior design and property.</p><p>&nbsp;We&rsquo;re delighted to be sponsoring London Design Week, an event that plays a truly crucial role in understanding and expanding London&rsquo;s exciting design industry. The schedule for this year&rsquo;s programme will showcase the finest design
    talents and minds across the UK and we want to involve our clients with London Design Week whilst they make their new house into a home with interior product. The property and design industries are inherently linked and we&rsquo;re keen to explore
    that relationship over the next week and beyond.</p><p>One event is a particular focus for JLL Residential - the discussion, &ldquo;Conversations in Design: Interior Design and Architecture: The Perfect Match?&rdquo; is set to take place at 11:30am on March 14<sup>th</sup>. It will focus on how the combination
    of architecture and interior design can grow businesses, the importance of communication and collaboration to achieve compelling spaces that answer the client&rsquo;s brief and the invisible line between the two interconnected disciplines. Panellists
    include Richard Parr, founder of Richard Parr Associates, Claire Sa, director of De Rosee Sa and Natalia Miyar, founder of Natalia Miyar Atelier. The panel will be chaired by the writer and editor Charlotte Abrahams.</p><p>Other &lsquo;Conversations in Design&rsquo; talks will include panel discussions and business-focused sessions with A-list speakers; all providing in-depth analysis to keep the design industry competitive and connected. New talent includes Mimi Shodeinde
    of Miminat Designs, Alex Holloway and Na Li of Holloway Li, Jake Arnold, Isabella Worsley, Minnie Kemp, Rupert Cunningham and Alexandria Dauley, alongside more established names such as Nicola Harding, Lucy Hammond Giles, Adam Bray and Celerie Kemble,
    with more to be announced. Legendary fashion and textile designer Zandra Rhodes will also explore <em>Britannia</em>, her new collaboration with silk weaving house Gainsborough.</p><p>Design Centre, Chelsea Harbour:&nbsp; &ldquo;It&rsquo;s really fantastic to have JLL on board as our lead sponsor for what will be an exciting week of talks, panel discussions, and exhibits. More than ever, our two industries work symbiotically. To recognise
    that with sponsorship from such an inspiring and forward-thinking company is testament to our ever-expanding relationship, and the burgeoning industry in London. We look forward to seeing many people come and enjoy what we have to offer, and hope
    it inspires the next generation of designers and property professionals alike.&rdquo;</p><p>In addition, the week-long event will exhibit the latest offerings from 120 international showrooms and 600 brands, many focused on 2022&rsquo;s outlook to be elegant, pretty and upbeat and a fresh approach in interior design. The program reflects a commitment
    to connect, converse, create in the design sphere with meet-the-designer sessions, artisan demonstrations and design discovery tours.<br /></p><img src="https://cms-resi.eu.jll.com/images/default-source/agency/new-london-design-week-2022-at-design-centre-chelsea-harbour-(7)-min.jpg?Status=Master&amp;sfvrsn=9ef74c62_1" style="display:block;margin-left:auto;margin-right:auto;" height="500" class="-align-center" sf-size="100" alt="" />

JLL Residential Partners with Design Centre, Chelsea Harbour for London Design Week

<p>Design Centre, Chelsea brand partnership for London Design Week 2022</p>

Please click here to sign up as a guest can attend the event. 

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<p>We have released new research predicting the UK residential property market&rsquo;s first ever &pound;100 billion summer.<br /></p><p>The forecast, which takes the current trajectory of the housing market and applies it to the rest of summer months, estimates that there will be 420,000 sales in the UK across June, July and August at a total spend of a record&nbsp;<strong>&pound;107bn</strong>.&nbsp;<br /></p><p>This will make this summer the highest grossing quarter in UK residential market history and is in stark contrast to previous years. Throughout the past half decade, total spend from buyers during the summer months has averaged &pound;69bn-per-year, a
    figure that comprised of a little over 300,000 sales.<br /></p><h2><strong>Speaking on the forecast,&nbsp;Nick Whitten, our Head of UK Living Research,&nbsp;said:&nbsp;</strong></h2><p><em>&ldquo;It is well-documented that the Summer is the best time to sell a home, with sentiment receiving a natural positive boost from the warmer weather. However, our data suggests that this post-lockdown summer will set a new record. The reasons behind the buying bonanza - with the most exchanges and highest total sales value on record &ndash; are threefold. The stamp duty extension to the end of June means that during the quarter eager buyers and sellers will look to force a deal through. This, combined with the increased financial stability many buyers are feeling as we unlock from Coronavirus, and the well-documented supply constraints in the UK market, means we can expect to see demand swallowing up available stock, pushing up prices but not to the extent that it will affect transactions.&rdquo;</em></p><p>The Government has set a clear priority to help more people onto the housing ladder through its Own Your Home campaign. The campaign puts the spotlight on six Government-backed support schemes to allow people to access some form of home ownership.</p><p>The forecasted spike in activity this Summer will be particularly evident in the north of England, which is predicted to see circa 100,000 sales &ndash; around 25% of the total UK.</p><h2><strong>Stephen Hogg, our Head of North West and Residential UK Regions&nbsp;said:&nbsp;</strong></h2><p><em>&ldquo;We have seen the market steadily improve and are fully expecting a further acceleration throughout the Summer.&nbsp; &ldquo;North-shoring&rdquo; is a trend we have seen pre-COVID but even more during and post-COVID with purchasers seeing better value for money in the north.&nbsp; Regional towns and cities continue to be voted the best places to live in the UK with less congestion and some of the best schooling.&nbsp; The regional cities are bouncing back quicker, HS2 offers further medium to long term growth prospects coupled with the Government&rsquo;s levelling up agenda.&nbsp; Flex working is becoming the norm and therefore the need to live close to the Capital is diminishing.&nbsp; The historical brain-drain of regional centres seeking high skilled high paid jobs in London is a thing of the past.&nbsp; With the likes of Manchester, Birmingham, Edinburgh offering opportunities equal to or not available in London they are now attracting a vast talent pool who in turn are boosting the local housing markets.&rdquo;</em></p><h2><strong>Providing a Prime London lens on the research and forecast,&nbsp;Lucy Morton, our Head of Residential Agency,&nbsp;said:&nbsp;</strong></h2><p><em>&ldquo;London has faced its own unique set of challenges over the past fifteen months. Unsurprisingly the extent of its sudden and vast transformation from a thriving, borderless hub of activity that never slept, to a fully-locked-down ghost town was reflected in a similarly drastic lull in property market activity.&nbsp;</em></p><p><em>&ldquo;Yet despite this, the appeal of London as one of the most vibrant and popular cities of the world has reignited, the shoots of recovery in the capital are looking very green indeed; activity is picking up considerably, and interest &ndash; from domestic and international buyers alike &ndash; is returning.&rdquo;</em></p><p>Factors have combined to set up the highest grossing quarter in UK residential market history. Read more on our Spring Forecasts
    <a href="https://residential.jll.co.uk/insights/news/spring-2021-forecasts-our-property-predictions">here</a>.</p><p>You can find a full breakdown of the year-on-year data cited in the forecasts in the grid below:<br /></p><table><tbody><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>Year:</strong></td><td style="width:33.3333%;text-align:center;"><strong>Total number of housing sales</strong></td><td style="width:33.3333%;text-align:center;"><strong>Total value of transactions (&pound;)</strong></td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2016</strong></td><td style="width:33.3333%;text-align:center;">316,000</td><td style="width:33.3333%;text-align:center;">&pound;65bn</td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2017</strong></td><td style="width:33.3333%;text-align:center;">337,000</td><td style="width:33.3333%;text-align:center;">&pound;72.5bn</td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2018</strong></td><td style="width:33.3333%;text-align:center;">333,000</td><td style="width:33.3333%;text-align:center;">&pound;75bn</td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2019</strong></td><td style="width:33.3333%;text-align:center;">317,000</td><td style="width:33.3333%;text-align:center;">&pound;72bn</td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2020</strong></td><td style="width:33.3333%;text-align:center;">233,000</td><td style="width:33.3333%;text-align:center;">&pound;58bn</td></tr><tr style="height:16.666666666666668%;"><td style="width:33.3333%;text-align:center;"><strong>2021&nbsp;</strong>(predicted)</td><td style="width:33.3333%;text-align:center;">420,000</td><td style="width:33.3333%;text-align:center;">&pound;107bn</td></tr></tbody></table><p>&nbsp;</p>

Billion pound summer forecasted this summer 2021 in UK housing market

<p>Spring 2021 Forecasts and property predictions as detailed by Nick Whitten, Head of UK Living Research at JLL.</p>

We have released new research predicting the UK residential property market’s first ever £100 billion summer.

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The UK residential property market’s first £100 billion summer

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<img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1619178659/resi/gb/cms/Research/Images/2021_Forecasts_infographic_Landscape_V6.jpg" data-displaymode="thumbnail" alt="infographic" title="Spring 2021 Forecasts: Our Property Predictions" style="vertical-align:middle;" /><button class="Button primary"><a style="color:rgba(255, 255, 255, 1);" href="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1619012684/resi/gb/cms/Research/PDFs/2021-forecasts-infographic-v5.pdf">Download the report </a></button><br /><br /><iframe width="100%" height="315" src="https://players.brightcove.net/1268729899001/default_default/index.html?videoId=6256747058001" sandbox="allow-scripts allow-same-origin"></iframe><br /><br />&nbsp;
<p>Our Spring 2021 Forecast assumptions:</p><div>The UK housing market is set to continue to confound expectations with JLL now predicting strong house price growth across all markets in 2021.</div><div><br /></div><div>As our November 2020 report Home is&hellip;for Everything stated, our homes have become the centre of our lives prompting many to re-evaluate their living priorities. These changing priorities will continue to drive buyer and renter behaviour in 2021
    with a dedicated space for home working and a garden becoming more of a focus for families in particular.</div><div><br /></div><div>However, demand for city living will also bounce back in 2021 with a growing appetite to return to social, bustling urban centres, particularly driven by younger generations. JLL has been monitoring rising demand for homes in key cities prompting our
    expectations for strong house price and rental growth in London and other major regional UK cities over the next 12 months.</div><div><br /></div><div>Despite Covid-19 causing a record contraction in GDP and rising unemployment, over the past 12 months the UK housing market has seen the highest level of house price growth since before the EU Referendum in June 2016.</div><div><br /></div><div>Prices have continued to grow strongly in 2021 on the back of the supportive UK Government measures such as the extended Stamp Duty holiday, 95% Mortgage Guarantee scheme and the speed of the COVID-19 vaccine rollout.</div><div><br /></div><div>JLL now forecasts that price growth will be 4.5% in the UK and 6% across London in 2021.</div><p>&nbsp;</p><br /><br /><img src="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1583770729/resi/gb/cms/Contacts/Nick_Whitten.jpg" data-displaymode="thumbnail" alt="nick-whitten" title="Nick Whitten" style="vertical-align:middle;" />&nbsp;<br /><br /><p style="text-align:center;">Nick Whitten - Head of UK Living Research</p><p style="text-align:center;"><a href="mailto:Nick.Whitten@eu.jll.com" target="_blank"><button class="Button primary">Contact Us</button></a></p><div style="margin:15px;">&nbsp;</div>

Spring 2021 Forecasts: Our Property Predictions

Our lives revolve around our homes more than at any point in the past 250 years.

<p>Our lives revolve around our homes more than at any point in the past 250 years. In our &lsquo;Home is for&hellip;Everything&rsquo; report, we looked to the future of UK house price and rental value forecasts for the next five years, the effect of the Covid-19 and the role technology would play in satisfying our needs and wants in our home. In our Spring 2021 Forecasts, we offer valuable insight into the next five years and predict strong house price growth.</p>

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Spring Budget 2021: Stamp Duty Holiday Extension 

<p>Stamp Duty holiday 2021 extension as detailed by Nick Whitten, Head of UK Living Research at JLL.</p>

The housing market has got the extended holiday many were hoping for so buyers purchasing a home can take advantage of a reduced Stamp Duty charge. 

<p>The housing market has got the extended holiday many were hoping for and the clock is now effectively ticking for new buyers who haven&rsquo;t yet started the process of purchasing a home to take advantage of a reduced Stamp Duty charge. </p>

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<p>It seems hard to imagine that the changes in how we have lived and worked through the largest global pandemic in 100 years won&rsquo;t have any lasting impact on how we live going forward.</p>
<p>The benefits of remote working have now been fully tried and tested &ndash; and for many individuals and businesses alike those benefits are clear to see. But will we now see a mass exodus from London to the countryside as people seek more space to spend more of each week working from home?</p>
<p>That was the key question I tackled alongside London&rsquo;s Deputy Mayor for Housing, Tom Copley, at a recent London First panel debate. </p>
<p>A snapshot survey undertaken by JLL and London First in advance of the debate revealed that 1 in 4 of the 150-plus respondents now intend to move away from central urban areas in the next two years. And there have been numerous other surveys which have arrived at similar findings in recent months.</p>
<p>But is there any evidence of people leaving London en masse? </p>
<p>A closer look at London&rsquo;s historic population statistics show that there has long been a net outward migration of people at mid-life stages, who after having a family, typically leave the city in search of more affordable larger family homes. </p>
<p>The coronavirus pandemic has very likely accelerated the decision-making process for these people who were highly likely to leave the Capital anyway in the next few years.</p>
<p>London&rsquo;s growth from a 1 million-plus city in 1800 to its current circa 9 million has been driven by younger age groups and overseas workers. </p>
<p>And to question whether these groups will continue to seek a life in London is to question the future success of London itself. The UK Capital is a global leader in so many areas &ndash; finance, professional services, technology and the arts, to name a few.</p>
<p>As Covid begins to abate and life returns to some semblance of normality London&rsquo;s employment hubs will thrive once again and young workers from both the UK and overseas will continue to flock to the Capital.</p>
<p>Indeed, rather than predicting a population decline, the latest forecasts from Oxford Economics as of the end of January 2021 show London&rsquo;s population rising to 9.5m by 2030, albeit this would represent a slowing of the rate of growth seen over the past few decades. </p>
<h2><strong>Urban-rural mismatch</strong></h2>
<p>Meanwhile, the homes needed to accommodate a mass exodus to rural areas simply do not exist.</p>
<p>Since 1991, the proportion of people who live in rural areas has fallen from 22% to 16%, while virtually all population growth has been accommodated in urban areas.</p>
<p>In order to return to that peak rural population of 1991, we&rsquo;d need to build about 1.8 million homes in rural areas, which basically isn&rsquo;t going to happen.</p>
<p>Instead of a major population decline, Covid is more likely to spark a suburban revival and drive a dispersal of activity across London, as well as its wider commuter belt, as people split their week in half between working from home and going to central employment and leisure hubs.</p>
<p>In the past there have been great changes in how we use space on the back of significant advances in the mass movement of people on a daily basis through the advent of rail and roads.</p>
<p>It is hard to see how such a monumental event such as Covid-19 and the advancements it has triggered around remote working and digital technology will be entirely reversed.</p>
<p>The great change this time might be in how we simply move less people as a collective mass on a daily basis. It could become more evenly spread across a typical week. And this could trigger environmental and social benefits with less crowded and more efficient transport and services distributed more evenly across the city across the week &ndash; the creation of move liveable cities.</p>
<p>However, this will not be without its management challenges. And the onus is on business communities, transport operators and local authorities to co-ordinate strategies for a truly liveable 21<sup>st</sup> Century city.</p>
<h2><strong><span style="text-decoration: underline;">London First&rsquo;s and JLL&rsquo;s Post-Covid Living Priorities Survey</span></strong></h2>
<p><strong><span style="text-decoration: underline;">Key Findings:</span></strong></p>
<p>*24% of respondents had never worked from home pre-Covid</p>
<p>*40% would now like to work from home 1-2 days every week</p>
<p>*46% would like to work from home 3-4 days every week</p>
<p>*Broadband speed, personal outdoor space and private workspace are now ranked the most important features of the home</p>
*68% say proximity to public green space is now very important, compared with 31% pre-pandemic

Will Covid-19 cause London’s population to literally run for the hills?

Will Covid-19 see a mass exodus of from London to the countryside as people seek more space to spend more of each week working from home? Our latest article explores this.

<p>It seems hard to imagine that the changes in how we have lived and worked through the largest global pandemic in 100 years won&rsquo;t have any lasting impact on how we live going forward. But will we now see a mass exodus from London to the countryside as people seek more space to spend more of each week working from home?</p>

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<p>In the&nbsp;final series of our stamp duty spotlight, we&rsquo;re exploring Manchester, the third largest city in the UK and a truly fantastic place to live. Our property experts give their opinion on the area's cultural highlights, the types of properties you can buy and how you can still capitalise on the Stamp Duty holiday.</p>
<p>Manchester: a city famous for football, music and media, to name just a few leisure pursuits that draw a vast range of residents including students, young professionals and families to the city. With luxury high-rise apartments, warehouse conversions and canal side apartments, Manchester offers buyers a range of unique and interesting homes to call your own or add to your property portfolio.</p>
<h2><strong>Looking to buy in Manchester?</strong> </h2>
<p>The city of Manchester is ever evolving with regeneration projects transforming both the inner city and out towards the suburbs. Today, Manchester is known as a cosmopolitan and chic city which makes for an exciting place to live and invest in. </p>
<p>From the music venues of The Bridgewater Hall and Manchester Arena to the shopping haven of the Arndale Centre and Barton Arcade whatever your cultural interests, Manchester has it all. <br />
<br />
With a high student population for most of the year, Manchester caters for those looking to wind down after work with a plethora of late-night entertainment venues and restaurants with cuisine from around the world.<br />
<br />
The development of MediaCity UK in Salford has attracted large corporations to relocate their headquarters from London to this northern hub. The whole Salford Quays area has undergone extensive regeneration to accommodate the new influx of workers, not only residentially but also culturally. The area is home to luxurious, waterside apartments, bars, restaurants and the Imperial War Museum Manchester.</p>
<p style="text-align: center;">&ldquo;Manchester was always the &ldquo;second city&rdquo; but right now, it&rsquo;s really giving London a run for its money. The city centre has something for everyone. Homeowners can enjoy the history of Castlefield, the diversity of the Northern Quarter and the resurgence of Ancoats Urban Village. Residents can find exactly what they are looking for, whether that&rsquo;s a periodic conversion with a wealth of original features or a modern skyscraper with a range&nbsp;<span style="text-align: left;">of on-site&nbsp;</span>amenities&nbsp;such as gyms, swimming pools and residents' lounges. Equally, investors know that Manchester can offer much higher yields than most major UK cities and with more tenants moving than before, still see the city as a solid investment.&rdquo;</p>
<p style="text-align: center;"><strong><em>Oliver Dolan, Head of Sales Manchester</em></strong>&nbsp; &nbsp;</p>
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Discover the properties we have for sale below and find out how much you can save on the new stamp duty savings by using our stamp duty calculator <a href="https://residential.jll.co.uk/stamp-duty-calculator">here</a>.&nbsp;<br />
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<strong><a href="https://residential.jll.co.uk/search/stamp-duty-2020-manchester">Homes for sale in Manchester&nbsp;</a></strong><br />
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Stamp Duty Spotlight: Manchester

<p>Manchester, stamp duty homes available to buy from JLL Residential. </p>

Looking to move to Manchester? Explore our portfolio of homes, the local area and find out how much you can save with the new stamp duty rates.

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<p>In the second series of our Stamp Duty&nbsp;spotlight we&rsquo;ve dived into two vibrant and popular neighbourhoods south of the river: Deptford and Greenwich. Our property experts give their opinion on the area's cultural highlights, the types of properties you can buy and how to capitalise on the Stamp Duty holiday.</p>
<p>From the Royal Greenwich Park to Deptford Market Yard, South East London is a popular destination for those searching for their perfect home. From the surplus of historical attractions to the vast open green space, it&rsquo;s clear why the South East&nbsp;postcode is attractive to young professionals, families and those looking to add to their property portfolio.</p>
<h2><strong>Looking to buy in Deptford?</strong>&nbsp; </h2>
<p>Deptford is home to first-time buyers, families and students alike. As one of South East London's arty quarters, whilst being conveniently connected for commuters, it is an enviable place to call home for young buyers and families looking for their new home in Zone 2. Deptford station (National Rail), Deptford Bridge (Docklands Light Railway) and New Cross (Overground) provide perfect links to the City and beyond to discover more of London&rsquo;s history, art and cultural hotspots.</p>
<p> Join locals in a host of pubs and restaurants throughout this South East&nbsp;London neighbourhood, from late-night cocktails at Stockton to a selection of craft beers at The Dog and Bell. Rich in industrial history, it's easy to see how the area as influenced new homes in name and architect, such as the <a href="https://residential.jll.co.uk/sale-development/london-se8-5hz-a0O1I000001JvfkUAC">Deptford Foundry</a>&nbsp;What&rsquo;s more, the Grade II listed railway carriage ramp forms as part of the vibrant Deptford Market Yard.</p>
<p>The wealth of green spaces is another reason to add Deptford to your London property search. Enjoy riverside walks or a post walk run along Deptford Creek and Charlotte Turner Gardens.</p>
<p style="text-align: center;"><em>&ldquo;<em>Deptford is a place where people from all walks of life converge and form a community that takes immense pride in its slice of South East London. Whether it&rsquo;s exploring the galleries and markets or just taking a stroll around the many parks and green spaces.&nbsp; New build development in Deptford boasts an affordable London price point and many developments feature Help to Buy. If you are quick the recent Government Stamp Duty relief will apply until 31st March 2021.</em>&rdquo;&nbsp;</em>&nbsp;</p>
<p style="text-align: center;"><strong><em>Holly Stock &ndash; Director, Help to Buy</em></strong></p>
<h2 style="text-align: left;"><span style="text-align: left;"><strong>Looking&nbsp;to buy&nbsp;in&nbsp;<strong>Greenwich</strong>?&nbsp;</strong></span></h2>
<p style="text-align: left;"><span style="text-align: left;"></span></p>
<p>The Royal Borough of Greenwich is an exciting place to live. Greenwich itself is a UNESCO World Heritage site with a rich naval history which attracts a plethora of tourists throughout the year. From the Cutty Sark, the National Maritime Museum and the Old Royal Naval College you can easily explore London&rsquo;s past and ties to the sea. </p>
<p>Greenwich is a perfect place to call home for those who crave access to nature, something which has proved vital during lockdown. From the deer enclosure inside the Royal Greenwich Park to mudlarking alongside the banks of the River Thames. The Greenwich Foot Tunnel provides residents with an environmentally friendly route to work, along with the Docklands Light Railway and National Rail stations for a quicker commute. </p>
<p>Traditionally Greenwich is viewed as a place for families with plenty of Georgian and Victorian townhouses which dot the roads adjacent to the park and throughout the town centre. However, the recent surge in modern-riverside apartmedints has attracted young professionals into the area at the iconic O2 Arena (formally the Millennium Dome) and within Greenwich town centre. The riverside is now home to a variety of restaurants and bars which has accelerated price growth within the area.</p>
<p style="text-align: center;"><em>&ldquo;</em><em style="text-align: left;">Greenwich truly is an outstanding and unique place to call home as it has something for every preference and every price band. The fascinating history of the area not only attracts tourists but also Hollywood directors as blockbusters are often filmed at the Old Royal Naval College which means rubbing shoulders with celebrities over Sunday Lunch is a frequent occurrence. T</em><em style="text-align: left;">he Royal Observatory at the top of Greenwich Park allows you step onto the Meridian line, where time is measured from. Where else in the world can you do that?</em></p>
<p style="text-align: center;"><em> <em>We have seen a surplus of homes coming to the market with buyers taking advantage of the Stamp Duty&nbsp;saving. The area also has a wealth of homes available on the Help to Buy scheme which helps to get locals and young professionals onto the property ladder quicker than before.</em>&rdquo;</em>&nbsp;</p>
<p style="text-align: center;"><strong><em>Graham Lawes Greenwich Sales Director </em></strong></p>
<p style="text-align: left;"><span style="text-align: left;">Discover the properties we have for sale below and find out how much you can save on the new Stamp Duty&nbsp;savings by using our Stamp Duty calculator </span><a href="https://residential.jll.co.uk/stamp-duty-calculator" style="text-align: left;">here</a><span style="text-align: left;">.</span></p>
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            <img width="240" height="119" src="https://weasresicmspd.azurewebsites.net/images/default-source/articles/deptford.jpg?Status=Temp&amp;sfvrsn=8fd775ed_2" alt="Deptford" />
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            <img width="240" height="119" src="https://weasresicmspd.azurewebsites.net/images/default-source/default-album/greenwich.jpg?Status=Temp&amp;sfvrsn=5475c1cf_2" alt="Greenwich" />
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            <p><a href="https://residential.jll.co.uk/search?tenureType=sale&amp;placeId=ChIJETGWWe4CdkgR5MeS8JK61ng&amp;placeName=Deptford%2C%20London%2C%20UK&amp;lat=51.47799121581522&amp;lng=-0.02648462183434505&amp;radius=1&amp;sortBy=distance&amp;sortDirection=asc "><strong>Properties for sale in Deptford</strong></a></p>
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            <p><a href="https://residential.jll.co.uk/search/greenwich-houses-apartments-for-sale"><strong>Properties for sale in Greenwich</strong></a></p>
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Stamp Duty Spotlight: Deptford and Greenwich

<p>South East London, Deptford and Greenwich, stamp duty homes available to buy from JLL Residential. </p>

With the new changes to the Stamp Duty and Land Tax we look at why these two areas in South East London are a great place to live and invest in.

Looking to buy in South East London? Read our Spotlight on Deptford and Greenwich here.

Looking to move to South East London? Explore our portfolio of homes, the local area and find out how much you can save with the new Stamp Duty rates.

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<p>&nbsp;Our Residential Forecasts 2021 will look to the future and offer valuable insight on:</p>
<ul>
    <li>UK house price and rental value forecasts for the next five years</li>
    <li>Expected future housing starts and levels of transactions over the next half a decade</li>
    <li>Which cities will witness the highest house price growth?</li>
    <li>Will the Covid-19 pandemic trigger large-scale de-urbanisation?</li>
    <li>What role is technology playing to satisfy our increasing needs and wants in our home</li>
</ul>
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<button id="btn-1" class="Button primary">Download Report</button>
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<p>Nick Whitten our Head of UK Living Research discusses our latest forecasts in the video below.<br />
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<p style="text-align:center;">Nick Whitten &ndash; Head of UK Living Research</p>
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UK Residential Forecasts – Home is… for everything

medium

Stratford

Our lives now revolve around our homes more than at any point in the past 250 years. In 2020, Covid-19 has accelerated a trend which is making our homes the centre of our lives once again with technology being the great enabler allowing us to satisfy our needs and wants in our homes.

Covid-19 has accelerated a trend which is making our homes the centre of our lives once again with technology being the great enabler allowing us to satisfy our needs and wants in our homes.

UK Residential forecasts – Home is… for everything

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            <strong>Investment valuation</strong>&nbsp;            </div>
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            <strong>North East England</strong>&nbsp;            </div>
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<p>&nbsp;</p>
<h2><strong>Ambition</strong></h2>
<p>Horizon required valuation advice in relation to their proposed acquisition of the property, a registered care home providing accommodation for adult residents with autism and or/complex learning disabilities. </p>
<h2><strong>Approach</strong></h2>
<p>Once instructed by the client, JLL arranged to inspect the property (located between Durham and Newcastle.) We attended with one of their representatives, the client&rsquo;s funder and a building surveyor.&nbsp; Our strategy was to provide a report valuing the property, on the basis of Market Value and also on the Market Value on the Special Assumption of Vacant Possession considering that the property, should it become vacant, would be used as a care or supported living facility in the future. We also collaborated with colleagues in the JLL Healthcare valuation team in order to provide fully comprehensive advice to the client.</p>
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<p style="text-align: center;">&ldquo;Horizon run two FCA regulated specialist UK residential and care home institutional investment funds as well as a lending vehicle. Horizon launched, managed and fully invested and levered two funds, backed by UK institutional investors with &pound;125m AUM and were supported in these acquisitions by JLL"</p>
<p style="text-align: center;">Paul Casey, <a href=" http://www.horizon-infra.com">Horizon Infrastructure LLP</a></p>
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<h2><strong>Challenges</strong></h2>
<p>Due to the vulnerable nature of the tenants, inspections were at the discretion of the manager. We managed to gain sufficient access to satisfy our requirement for the valuation, although we were unable to measure the property.</p>
<h2><strong>Added Value</strong></h2>
<p>We recommended to the client that they should consider a building survey prior to their purchase. The client decided to instruct JLL RBC which gave us as valuers additional detail and provided our client with greater information prior to their purchase.</p>
<h2><strong>Achieved:</strong></h2>
<p>Our valuation supported the purchase at the agreed asking price which pleased all parties involved. The building continues to be occupied, providing supported living accommodation for those who need it.</p>

Investment valuation of a North East supported living facility

Shared ownership hero

On behalf our client we offered valuation advice in relation to their proposed acquisition of a registered care home in the North East of England 

Investment valuation of a North East supported living facility 

On behalf our client we offered valuation advice in relation to their proposed acquisition of a registered care home in the North East of England

Help to Buy hero

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<p>PRIVACY NOTICE</p>
<p>Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.</p>
<p>Generally the personal information we collect from you are for the purposes of dealing with your enquiry.</p>
<p>We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our&nbsp;<a href="https://www.jll.co.uk/en/privacy-statement" target="_blank">privacy statement</a>.</p>

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