<p>The Renters (Reform) Bill was introduced to parliament on 17th May 2023. It follows the 2022 private rented sector white paper, which outlined the government&rsquo;s aspirations for the future of privately rented homes. The bill aims to deliver on the
    government&rsquo;s plan to &ldquo;bring in a better deal for renters&rdquo;, which includes the ending of &lsquo;no fault&rsquo; evictions. These changes of course have implications for landlords too, but the bill aims to allay some of their concerns
    by strengthening Section 8 powers under which landlords can recover their properties.</p><p>Further regulation includes proposals for a new property portal and rental redress scheme, which aim to make it easier for landlords and tenants to resolve issues and for councils to track and penalise rogue landlords. For landlords, increased use of
    Section 8 could also make it easier to identify tenants with a history of rent arrears and antisocial behaviour, aiding the tenant referencing process and mitigating risk for those taking on new tenants.</p><p>But we are still at an early stage. The bill is entering the approval period, where questions on the detail behind the proposals can be answered and views sought. The bill must follow a set path before receiving Royal Assent and becoming law. The next
    step will be a second reading, giving MPs the opportunity to scrutinise the bill and make any amendments to the proposals. This will also be an opportunity for interested parties to contact their MP to put forward their views on the proposals.</p><p>The bill must then progress through committee, parliament, and the House of Lords before details are agreed and Royal Assent is sought. This is a lengthy process, with the time from bills being introduced to becoming law often exceeding 12 months.</p><h2>Current proposals include:</h2><p><strong>The end of the AST - </strong>Section 21 will be abolished, aiming to provide tenants with greater security. Fixed term tenancies will be scrapped, meaning a tenancy will end only if the tenant chooses to leave (usually by giving two months&rsquo;
    notice) or the landlord is able to provide a valid reason to end the tenancy. To assist with this Section 8 will be strengthened to allow landlords to recover their properties. From six months into the tenancy landlords may give the tenant notice
    (usually two months) to vacate if they are looking to move back into the property, sell or redevelop. Landlords can also gain possession if the tenant is in breach of their tenancy or falls into arrears.</p><p>If implemented, it is likely changes will apply first to new tenancies, with existing tenancies transitioned across into the new structure within a pre-defined period. There are some exemptions for students lets, however this could we be one of the elements
    of the bill where we see some changes introduced.</p><p><strong>Annual rental reviews&nbsp;</strong><strong>&ndash;</strong><strong>&nbsp;</strong>Rental increases will be limited to one per year, with new powers for tenants to challenge above market rate rental increases through a tribunal.
</p><p><strong>Pets&nbsp;</strong><strong>&ndash;</strong><strong>&nbsp;</strong>Landlords must have reasonable grounds to refuse a tenant the right to request a pet in their rented property. It is not yet clear what constitutes &lsquo;reasonable grounds&rsquo;,
    hopefully this will become clearer as the process progresses, but tenants who are refused can use the new redress scheme to refer the final decision to the ombudsman. For landlords, existing regulations will be strengthened to ensure tenants are liable
    for any damages caused by their pets.</p><p><strong>Redress scheme &ndash; </strong>Proposals for a single redress scheme for both landlords and tenants. The ombudsman will provide a free service if tenants have complaints regarding their landlord, the standard of the property, or any outstanding
    repairs. Under current proposals landlords would not be able to make a complaint about a tenant to the ombudsman but they could be offered mediation services to settle disputes between them and their tenants. Landlords would be required to join the
    scheme with local councils empowered to take enforcement action against those who fail to sign up. Lettings agents will not be required to join.</p><p><strong>New property portal &ndash; </strong>Landlords will need to sign up to a new property portal. This will be a digital record of the landlord and their properties. Landlords will need to be registered and keep records on themselves and their rental
    properties up to date to legally market a property to let. Proposals are for councils to have access to the portal to enable them to flag any unspent offences or restrictions in the landlord&rsquo;s name.</p><p>More detail on the bill can be found <a href="https://www.gov.uk/guidance/guide-to-the-renters-reform-bill" target="_blank">here</a>.</p><p>Our team here at JLL will keep you updated throughout the process and are here to answer any questions you may have on the bill or the implications for you as a landlord or tenant.</p><h2>JLL Research | June 2023</h2><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. 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>&nbsp;</p><p><sup>Disclaimer: <sup>&copy;</sup> 2023 Jones Lang LaSalle IP, Inc. All rights reserved.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>

Renters Reform Bill

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The Renters (Reform) Bill, introduced on 17 May 2023, outlines the government's plans for the future of privately rented homes, following the 2022 white paper.

The Renters (Reform) Bill was introduced to parliament on 17th May 2023. It follows the 2022 private rented sector white paper, which outlined the government’s aspirations for the future of privately rented homes.

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<p><em>JLL Residential</em>&nbsp;offers world class property consultancy services for buying, selling, renting, letting, as well as property investment delivering global knowledge with local expertise. JLL&rsquo;s specialist estate agencies and offices are located throughout London and with market intelligence from our global teams and tools, the firm&rsquo;s clients have access to the latest and most relevant insights in residential investment.</p><p>JLL was one of twelve companies to be nominated for this award which recognises and celebrates companies that have had a standout year in residential sales and/or lettings, with the judging committee looking for record transaction volumes, landmark deals, number of new instructions, and a strong client focus. </p><p>2022 saw JLL Residential achieve some stellar results across the divisions&rsquo; New Homes and Agency teams, including launching landmark developments, some of which sold out in record time. Meanwhile increasing the average value of properties sold throughout the year, demonstrating a progressive move into higher value areas, achieving the best results for the firm&rsquo;s seller clients. <br /></p><strong>Peter Murray, Head of Residential Development at JLL and Lucy Morton, Head of Residential Agency at JLL comment</strong>,&nbsp;<p><em>&ldquo;We are delighted and hugely proud of our residential teams to have been recognised for this award. In 2022, we embraced the opportunity to seize the renewed sense of optimism within the property market, following two years of Covid, which enabled us to deliver excellent client results that exceeded wider market performance.&rdquo; </em></p><p><strong>About JLL</strong><br />JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit <a href="https://www.jll.co.uk/">jll.com</a>.</p>

JLL wins Sales and Letting Agency of the Year at the 2023 Resi Awards

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11th May, London &ndash; Global property consultancy JLL won Residential Sales and Letting Agency of the Year at the annual RESI Awards that took place on 10th May.&nbsp;

11th May, London – Global property consultancy JLL won Residential Sales and Letting Agency of the Year at the annual RESI Awards that took place on 10th May. 

<p><strong>11<sup>th</sup> May, London</strong> &ndash;&nbsp;Global property consultancy JLL won Residential Sales and Letting Agency of the Year at the annual RESI Awards that took place on 10<sup>th</sup> May.&nbsp;</p>

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<p>JLL&rsquo;s residential China Desk was established in 2012 when the firm lead the way and were the first agent to enter the Chinese market. The team has since grown to over ten market experts based in London, who collaborate with all of JLL&rsquo;s fourteen Asia offices including mainland China, Hong Kong, Singapore, Malaysia, Thailand, and Indonesia and the 60 strong market leading international residential sales teams based in Asia.</p><p>The Desk works alongside all JLL residential colleagues including the London Residential Development team to support clients for the sale and marketing of some of London&rsquo;s most high-profile developments to the APAC region, where in 2022 the team sold over 500 units with a value of over &pound;540million and circa &pound;100m of sales in the first Q1 of 2023. The team speaks fluent English, Mandarin, Cantonese, and Malay with many of them having over ten years&rsquo; experience of living and working in the UK, allowing them to offer the best local knowledge to the firm&rsquo;s clients across Asia. </p><p>The rebrand was driven by the opportunity to expand the reach of services currently offered to clients and purchasers by the team, reflecting the changing pace and requirement of buyers within the APAC region as they continue to invest in London. The APAC markets are multi-cultural with enormous integration between Hong Kong, China, and Southeast Asia; by removing the siloed one country approach the team will be able to provide a fully integrated service across all of APAC&rsquo;s markets, under one business line. These markets include Hong Kong, China, Singapore, Indonesia, Thailand, Malaysia, and Taiwan.</p><p><strong>Freya Watson, Head of International Residential Development at JLL comments,</strong></p><p>&ldquo;By rebranding we are boosting our coverage across Asia Pacific, alongside our scope of services that were previously defined to mainland China. The change marks a progressive step towards building market share and growing awareness of our residential business offering across APAC.&rdquo;</p><p><strong>Matthew Saville, Head of New Home Sales at JLL comments,</strong></p><p><strong>&ldquo;</strong>The Desk&rsquo;s track record of success and collective experience cultivating and nurturing relationships with clients, leveraging market trends and data to guide sales efforts, means that the team are extremely well-placed to successfully navigate and facilitate the expansion of services we currently offer to the wider Asia Pacific region.&rdquo;</p><p><strong>Eliza Wang, Head of International Development Sales for China at JLL comments,</strong><strong> </strong></p><p>&ldquo;Having worked at JLL, on the China Desk, for over seven years, I am very confident in saying that we&rsquo;re a market leading team that specialise in the Asian market. I&rsquo;ve witnessed the Desk grow in size over the years, alongside our capabilities, therefore this geographical expansion of our services is a natural next step to enhance our offering and continue to build upon our presence. It also coincides nicely with the lifting of Covid restrictions in China and the wider Asia Pacific region.&rdquo;</p><p><strong>About JLL</strong></p><p>JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit <a href="http://www.jll.com">jll.com</a>.</p><p>&nbsp;</p>

JLL announces rebrand of its residential China Desk

Property consultancy, JLL, has announced the rebrand of its residential China Desk to APAC Desk.&nbsp;

April, 2023 – Property consultancy, JLL, has announced the rebrand of its residential China Desk to APAC Desk. 

<p><strong>April, 2023 &ndash;</strong> Property consultancy, JLL, has announced the rebrand of its residential China Desk to APAC Desk.&nbsp;</p>

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<p>UK rents surged in 2022 against a backdrop of growing political and economic uncertainty. The average rent climbed from &pound;1,064 in January to &pound;1,175 in November - a 10% jump in less than a year, according to&nbsp;<a href="https://homelet-letting-agents.co.uk/wp-content/uploads/2022/12/HomeLet-Rental-Indez-Report-November-2022.pdf">HomeLet Rental Index</a>&nbsp;(November 2022).</p><p>Charlotte Russell, area director for core lettings, says: &ldquo;2022 was an extraordinary year with huge demand in the UK rental market. The resurgence of London living was at its peak and showcased by the additional 10.2% of renters looking for homes versus 2021.&rdquo;</p><p>So will the rental market continue on a similar trajectory in 2023? Here&rsquo;s our rental market outlook.<br /></p><p><strong>Rents</strong></p><p>UK rents are expected to rise 4% in 2023, driven by an ongoing imbalance between rental demand and market supply in rental properties.&nbsp;<br /></p><p>Strong rental growth is forecast in major urban areas as students and young professionals return to the big cities after Covid-19.<br /></p><p>Looking at the regional city centres, Manchester - one of the fastest-growing economies in the UK - is predicted to have the strongest rental growth. Rents in the area could increase by 6%.<br /></p><p>Birmingham and Bristol are expected to follow, with rental growth of 5% and 4% respectively. Meanwhile, rents are forecast to rise by 3.5% in Leeds and Liverpool, and 1% in Edinburgh and Glasgow.&nbsp;<br /></p><p>This trend of strong rental growth in city centres looks set to be echoed in London too. Rents this year are predicted to climb 6% in the heart of the city and 4.5% in the outer areas.<br /></p><p><strong>House prices</strong></p><p>The UK housing market is expected to be sluggish in 2023. A combination of higher rates, poorer sentiment and the cost of living squeeze is likely to result in a fall in house prices and property sales.<br /></p><p>UK-wide house prices are predicted to drop 6% before recovering in 2024. Falls are set to range from around 4% in Greater London and 5% in Scotland, to around 8% in Wales, the north east and Yorkshire &amp; The Humber.<br /></p><p>But the outlook for the UK&rsquo;s city centres is much brighter. House prices are expected to grow in many of these areas, eclipsing the wider housing market.<br /></p><p>House price growth is predicted to stand at 0.5% in Bristol, 1% in both Birmingham and Edinburgh, and 1.5% in Manchester.<br /></p><p>Central London is forecast to have the highest level of house price growth of any UK housing market. Values are expected to climb 2.5%.<br /></p><p><strong>Rental demand&nbsp;</strong></p><p>High demand for rental properties is set to continue in 2023. The cost of living squeeze and higher mortgage rates are likely to delay some aspiring homeowners from buying their first home.&nbsp;The end of Help to Buy in March is also expected to lead to some renters staying in the rental market for longer. The government scheme helps people with a small deposit to buy a new-build home.<br /></p><p>The rising cost of living is also likely to shape the types of properties renters are drawn to. Energy-efficient new-build city centre homes are set to be particularly sought after as renters try to keep a lid on energy costs. Up to 85% of renters in our Tenant Survey Report say the environmental efficiency of their property is important to them.<br /></p><p>Russell says: &ldquo;The surge of tenants wanting to be close to transport for a quick commute to work as well as a high number of students returning to study is likely to be the continuous source of demand in 2023. The traditional seasonal market is expected to remain in place. It typically sees a huge peak in summer, which will only continue to push rents upwards.<br /></p><p>&ldquo;This demand has created a notable supply deficit of 23% fewer properties in 2022 and we are unlikely to see this change in the near to medium term. 2023 is set to continue with a shortage of homes, which in turn will add pressure to rental increases.&rdquo;<br /></p><p><strong>Supply of homes for rent</strong></p><p>Strong rental demand, rising rents (outperforming house prices) and low or almost non-existent voids will all encourage landlords to remain in the market in the short to medium term, says Marcus Dixon, director of UK residential research.<br /></p><p>Some landlords, particularly well-financed ones, could see a window of opportunity to snap up properties at potentially reduced prices.<br /></p><p>Given the headwinds in the market, landlords thinking of selling may reconsider and continue to rent their properties out while uncertainty lasts, says&nbsp;<a href="https://www.zoopla.co.uk/press/releases/rental-unaffordability-for-single-earners-hits-highest-level-for-over-a-decade-underlining-the-need-for-new-investment-into-rent/">Zoopla&rsquo;s Rental Market Report</a>&nbsp;(December 2022). This scenario could apply to homeowners too.<br /></p><p>Strong institutional investor appetite to fund the development of homes for rent is also set to continue in the months ahead.<br /></p><p>But landlords do face challenges, such as higher rates, changes to capital gains tax rules, and proposed new legislation. There will be some who chose to exit the market.<br /></p><p>Overall, there isn&rsquo;t likely to be any significant rise in the supply of rental homes in 2023 - and this will fuel rent rises.<br /></p><p>Russell says: &ldquo;It&rsquo;s good news for landlords heading into 2023. The demand for properties from professional tenants looking for long-term tenancies will in turn create a more cost-effective asset with a lower level of wear and tear as well as a higher level of rent.&rdquo;&nbsp;</p><p><strong>JLL sources:</strong><br /><a href="https://residential.jll.co.uk/insights/article/jll-uk-house-price-forecasts---housing-set-for-a-correction-not-a-crash">UK Residential Forecasts</a>&nbsp;(Q4 2022)<br /><a href="https://residential.jll.co.uk/insights/article/jll-help-to-buy-survey-2022">Help to Buy Survey Report</a>&nbsp;(November 2022)</p>

Outlook for UK Landlords January 2023 – Developments and opportunities

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Will the rental market continue on a similar trajectory in 2023? Here&rsquo;s our rental market outlook.

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<p>The cost of living squeeze is expected to put energy efficiency and value for money high up the agenda for many renters in 2023.&nbsp;<br /></p><p>With climbing energy costs, 85% of renters in our&nbsp;<a href="https://residential.jll.co.uk/insights/first-time-buyer/jll-tenants-survey-2022">Tenant Survey Report</a>&nbsp;say the environmental efficiency of their home is important to them.&nbsp;<br /></p><p>The legacy of the pandemic is also likely to influence renters in the months ahead when it comes to their homes and lifestyles.<br /></p><p>Curious to know more? We take a closer look at what could be in store for the UK rental market this year.<br /></p><p><strong>Rents</strong></p><p>UK-wide rents are set to climb 4% in 2023, putting further pressure on household finances. But there are regional variations.<br /></p><p>At a city centre level, rents could increase by just 1% in both Edinburgh and Glasgow. Elsewhere, rental growth is predicted to reach 3.5% in both Leeds and Liverpool, 4% in Bristol, and 5% in Birmingham.<br /></p><p>Rents are expected to increase the most in Manchester as more young people move to the area to live and work. Renters in the city centre could see their rental bills jump by 6%.&nbsp;<br /></p><p>And London rental growth is expected to stand at 6% and 4.5% in the central and outer areas of the city respectively.<br /></p><p>Rising rents in the major city centres are being fuelled by the return of students and young professionals after the pandemic.&nbsp;<br /></p><p><strong>Rental demand and supply</strong></p><p>There&rsquo;s currently a mismatch between demand for rental properties - in other words, rental enquiries - and the supply of homes for rent in the UK.&nbsp;<br /></p><p>To put this into context, rental demand is 46% above the five-year average. Meanwhile, the level of homes for rent is 38% below the five-year average, according to&nbsp;<a href="https://www.zoopla.co.uk/press/releases/rental-unaffordability-for-single-earners-hits-highest-level-for-over-a-decade-underlining-the-need-for-new-investment-into-rent/">Zoopla&rsquo;s Rental Market Report</a>&nbsp;(December 2022).<br /></p><p>Rental demand is expected to continue in 2023. The rising cost of living and higher mortgage rates as well as the end of Help to Buy in March are all predicted to delay some renters from getting onto the housing ladder.&nbsp;More than 60% of renters in our Tenant Survey Report expect their next move to be to another rental property.<br /></p><p>But there&rsquo;s not predicted to be any significant increase in the supply of rental properties to soak up demand.<br /></p><p>The good news is there are a number of ways for renters to get ahead of the competition for rental properties this year. This includes&nbsp;<a href="https://residential.jll.co.uk/search?tenureType=rent">registering for exciting new rental homes</a>&nbsp;before they&rsquo;ve even hit the market.<br /></p><p>&ldquo;As the cost of living crisis starts to affect everyone in the UK, the lack of rental properties available is increasing the rents even further &ndash; and this is not set to stop in 2023,&rdquo; explains Charlotte Russell, area director for core lettings.&nbsp;<br /></p><p>&ldquo;However, there is still opportunity across London, with larger developments being released to let. This will give more choice of rental homes and also high quality facilities, such as swimming pools, steam rooms, fully-equipped gyms, dining areas, communal work space and more. There is definitely additional value in the rent, including extras that tenants may pay for on an annual or monthly basis.&rdquo;&nbsp;</p><p><strong>Rental priorities</strong></p><p>With the cost of living squeeze, renters are likely to be drawn to rental homes that offer the most value for money in 2023.&nbsp;<br /></p><p>&lsquo;Green&rsquo; rental homes with lower energy bills are expected to be in high demand. In fact, 83% of renters say the energy efficiency of their next home will be either crucial or important to them, according to our Tenant Survey Report. And more than 40% of renters are prepared to pay a premium for a more environmentally-efficient home.<br /></p><p>The experience of lockdown has meant that outside space is a key priority too. More than half of the survey&rsquo;s respondents say that their own outside space is more important to them now. A similar proportion place higher importance on renting a home close to parks and other green space.<br /></p><p>Proximity to leisure facilities, transport connections and local amenities are also all set to rank highly this year. Some 51% of those surveyed still consider renting a home close to public transport as more important now than before the pandemic.</p><p><strong>JLL sources:</strong><br /><a href="https://residential.jll.co.uk/insights/article/jll-uk-house-price-forecasts---housing-set-for-a-correction-not-a-crash">UK Residential Forecasts</a>&nbsp;(Q4 2022)<br /><a href="https://residential.jll.co.uk/insights/article/jll-tenants-survey-2022">Tenant Survey Report</a>&nbsp;(2022)</p><p>&nbsp;</p>

UK Rental Market Update: Insights and Predictions for Renters in 2023

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The cost of living squeeze is expected to put energy efficiency and value for money high up the agenda for many renters in 2023.&nbsp;

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<p>There is a growing body of conflicting information about whether the UK housing market is heading for a crash. Factors such as rising inflation, the cost-of-living squeeze, rising interest rates and the war in Ukraine are all driving a narrative that
    the UK is set to see a house price correction. However, house prices and rents in the UK continue to confound expectations, both growing in excess of 10% per annum according to multiple sources. Despite this it is highly likely that there will be
    a softening of this price and rental growth as the headwind factors begin to exert their influence on consumer behaviour. But a slowing in price growth is very different from a fall.</p><p>Furthermore, there are a number of reasons why JLL expect the potential for a house price crash to remain highly unlikely in the UK.</p><h2><strong>Reason 1 - Low unemployment reducing risk of distress</strong></h2><p>But we remain optimistic regarding the prospects for price growth in the second half of the year. Buyers in Prime Central London are less exposed to increases in living costs and interest rate rises which we anticipate will hamper growth prospects in
    the mainstream housing market over the coming months. And if overseas buyers return this summer as expected, alongside applicants taking the plunge to buy, we could see prices rise too.</p><p>The PCL lettings market continues to see rents increase, as prospective tenants outnumber available properties. Rents rose 2% this quarter and are up 14% annually. But applicant levels are settling, with 15% fewer prospective tenants registering in Q2
    this year compared with last, meaning we could see more balance between supply and demand across the PCL market in the coming months.</p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/picture1-(1).png?Status=Master&amp;sfvrsn=9f06262f_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/low-unemployment-min-(1)66f4df2b-1e67-408b-bff9-6fb6938ad1f4.png?Status=Master&amp;sfvrsn=d8661fca_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><h2><strong>Reason 2 - highly leveraged households are rare</strong></h2><p>In 2006 prior to the Global Financial Crisis (GFC), some 40% of UK homes were owned with a mortgage. That proportion has since fallen to 32%, mostly due to an increase in private renting as well as the ageing nature of the UK population, meaning the proportion
    of homes owned outright has also risen (now the largest tenure in the UK in its own right at 33%). Furthermore, the number of highly leveraged households in the UK is now very low following the mortgage lending review which was undertaken post-GFC.
    The cost of debt remains relatively low as well. And while that may be rising as the Bank of England raises interest rates, they still remain low by historical standards as the graph below shows. Meaning we expect there should still be capacity for
    mortgaged households (compared with pre-GFC) to absorb the cost increase. For every &pound;100,000 borrowed on a standard 25-year mortgage term, a 25bps rise in the base interest rate equates to an estimated additional &pound;12 per month borrowing
    costs. While households are coming under pressure from all angles, mortgage payments are core spending and are less likely to be missed as the consequences are higher than other more discretionary spending. </p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/picture2-(1)a9de6676-5d1f-4217-9810-5caf863fc8da.jpg?Status=Master&amp;sfvrsn=ef682657_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/highly-leverage-households-minc08084c0-7e64-4ad1-b30f-0d8576c40108.jpg?Status=Master&amp;sfvrsn=66c67970_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><h2><strong>Reason 3 - Continued undersupply of new homes</strong></h2><p>Since the late 1970s the UK has failed to build the number of homes needed to meet the 300,000 per annum national target, typically falling short by about 100,000 homes per year. The current rising build cost pressures being felt by the construction industry
    will only exacerbate this housing shortfall as JLL&rsquo;s forecasts in the below chart illustrate. JLL expects supply to now fall further back in 2022 and 2023 meaning an undersupply of 465,000 homes over the next four years alone. This undersupply
    of new homes is likely to be coupled with a fall in second-hand homes for sale. This combined with strong housing demand will underpin the value of housing stock rather than cause prices to fall. Although we could see fewer homes transact over the
    short to medium term as a result.</p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/picture34ec6fbf3-c1f9-41bf-a720-66c396e31296.jpg?Status=Master&amp;sfvrsn=8c789912_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/undersupply-of-new-homes-mine2c56cd8-06fe-4c53-8e9d-dc15bda1eca9.jpg?Status=Master&amp;sfvrsn=90134a4c_1" style="display:block;margin-left:auto;margin-right:auto;" class="-align-center" sf-size="100" alt="" /><p><br /></p><h2><strong>JLL&rsquo;s UK House Price Forecasts - July 2022<br /></strong></h2><p><strong></strong><style>td,
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</p><div style="overflow-x:auto;" align="center"><table cellspacing="0" cellpadding="0" align="center"><tbody><tr class="red"><th scope="col" style="color:#ffffff !important;text-align:center;">Sales price growth (% pa)</th><th scope="col" style="color:#ffffff !important;text-align:center;">2022</th><th scope="col" style="color:#ffffff !important;text-align:center;">2023</th><th scope="col" style="color:#ffffff !important;text-align:center;">2024</th><th scope="col" style="color:#ffffff !important;text-align:center;">2025</th><th scope="col" style="color:#ffffff !important;text-align:center;">2026</th><th scope="col" style="color:#ffffff !important;text-align:center;">5 year cumulative (2022-26)</th></tr><tr><td>UK</td><td>4.5</td><td>4.5</td><td>3.0</td><td>3.5</td><td>4.5</td><td>21.7</td></tr><tr><td>Prime Central London</td><td>7.5</td><td>5.0</td><td>2.5</td><td>3.0</td><td>3.0</td><td>22.7</td></tr><tr><td>Greater London</td><td>6.0</td><td>5.5</td><td>3.5</td><td>4.0</td><td>4.5</td><td>25.8</td></tr><tr><td>South East</td><td>5.0</td><td>5.0</td><td>3.5</td><td>4.0</td><td>4.5</td><td>24.0</td></tr><tr><td>East of England</td><td>5.0</td><td>4.5</td><td>3.5</td><td>4.0</td><td>4.0</td><td>22.8</td></tr><tr><td>South West</td><td>4.5</td><td>4.5</td><td>3.0</td><td>3.0</td><td>4.5</td><td>21.1</td></tr><tr><td>East Midlands</td><td>4.0</td><td>4.0</td><td>2.5</td><td>3.0</td><td>4.0</td><td>18.8</td></tr><tr><td>West Midlands</td><td>4.0</td><td>4.0</td><td>3.0</td><td>3.5</td><td>4.5</td><td>20.5</td></tr><tr><td>Yorkshire &amp; The Humber</td><td>3.5</td><td>3.5</td><td>2.5</td><td>2.5</td><td>3.0</td><td>15.9</td></tr><tr><td>North West</td><td>4.5</td><td>4.0</td><td>2.5</td><td>2.5</td><td>3.0</td><td>17.6</td></tr><tr><td>North East</td><td>3.0</td><td>3.0</td><td>2.0</td><td>2.5</td><td>3.0</td><td>14.2</td></tr><tr><td>Wales</td><td>3.5</td><td>3.5</td><td>2.0</td><td>2.5</td><td>2.5</td><td>14.8</td></tr><tr><td>Scotland</td><td>4.5</td><td>4.0</td><td>2.0</td><td>3.0</td><td>3.5</td><td>18.2</td></tr></tbody></table></div><p>&nbsp;</p><h2><strong>JLL&rsquo;s UK Rental Value Forecasts &ndash; July 2022</strong></h2><div style="overflow-x:auto;"><table cellspacing="0" cellpadding="0" align="center"><tbody><tr class="red"><th scope="col" style="color:#ffffff !important;text-align:center;">Rental growth (% pa)</th><th scope="col" style="color:#ffffff !important;text-align:center;">2022</th><th scope="col" style="color:#ffffff !important;text-align:center;">2023</th><th scope="col" style="color:#ffffff !important;text-align:center;">2024</th><th scope="col" style="color:#ffffff !important;text-align:center;">2025</th><th scope="col" style="color:#ffffff !important;text-align:center;" data-role="resizable">2026</th><th scope="col" style="color:#ffffff !important;text-align:center;">5 year cumulative (2022-26)</th></tr><tr><td>UK</td><td>2.5</td><td>2.5</td><td>2.0</td><td>2.5</td><td>2.5</td><td>12.6</td></tr><tr><td>Prime Central London</td><td>6.0</td><td>3.5</td><td>2.0</td><td>2.0</td><td>2.5</td><td>17.0</td></tr><tr><td>Greater London</td><td>4.0</td><td>3.0</td><td>2.5</td><td>2.5</td><td>3.0</td><td>15.9</td></tr><tr><td>South East</td><td>3.0</td><td>3.0</td><td>2.0</td><td>2.5</td><td>2.5</td><td>13.7</td></tr></tbody></table></div><p>&nbsp;</p><h2><strong>About JLL | July 2022</strong></h2><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>&nbsp;</p><p><sup><strong>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</strong></sup></p><p><sub><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></sub></p>

UK set for continued house price growth

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There is a growing body of conflicting information about whether the UK housing market is heading for a crash.

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<p><strong>Rising energy, fuel and food costs continue to put pressure on household budgets this month. Inflation has continued to pressure the economy, with the Bank of England raising interest rates a further 25 basis points, or 0.25%, to 1.25%. House prices have continued to climb and although monthly mortgage approvals have fallen, the market is generally showing little sign of stress.&nbsp; </strong></p><h2>Inflation and interest rates</h2><p>The UK CPI rose by 2.5% in April 2022, bringing annual inflation to 9.0%, the highest rate since January 1989. In a bid to control soaring inflation, the Bank of England has risen interest rates further by 25 basis points, or 0.25%, to 1.25%. </p><h2>The mortgage markets</h2><p>Despite many homeowners currently facing higher mortgage payments, NatWest has reported &lsquo;no sign of stress&rsquo;, with demand for mortgages still strong. UK Finance has also reported a fall in the number of mortgage arrears in Q1 2022. The 5-year fixed rate mortgage (75% Loan-to-Value) reached 2.63% in May 2022. The same rate was 4.28% in May 2012 and 2.03% in May 2017, representing a fall of 39% over the past 10 years, but a rise of 64% in five years.<strong> </strong></p><h2>Help to Buy or Right to Buy</h2><p>The government announced the final date for reservations under Help to Buy is 31 October 2022. With the scheme closing for good on 31 March 2023.&nbsp; No replacement scheme is planned but the Prime Minister has launched a mortgage review which will look at ways to lower deposits needed to get onto the housing ladder. &lsquo;Benefits to Bricks&rsquo; is the latest proposal to boost home ownership, alongside extending right to buy to tenants living in housing association properties. </p><h2>House prices</h2><p>The UK housing market has shown signs of cooling, although annual growth (year to March 2022) remains strong at 9.8%. In London, annual growth reached 4.8%. Prices are now 19.7% higher nationally than they were pre-pandemic. <em>&nbsp;</em></p><h2>Rents</h2><p>According to Zoopla, the average rent at the end of March 2022 was &pound;995 pcm, having risen by 11% over the past year. Rental growth is largely being fuelled by a shortage of rental properties on the market.  </p><h2>Demand</h2><p>The RICS reported demand for rental properties was still outstripping supply in May, with landlord instructions lagging tenant demand.&nbsp; For sales both new buyer enquiries and stock levels remained broadly flat, but more agents were expecting prices to rise rather than fall over the next 12 months.</p><h2>Travel news</h2><h2><strong></strong></h2><p>Overseas travel is opening up, Heathrow passenger numbers in April 2022 recovering to 75% of April 2019 levels. In London, bus and tube travel is up 36% and 82% respectively, year-on-year, but is still 25% lower than April 2019.<br /></p><p><strong>And in case you missed it&hellip;</strong></p><p>In our latest JLL Living Priorities Survey we explored whether <a href="https://residential.jll.co.uk/insights/news/are-buyers-waking-up-to-the-benefits-of-a-more-environmentally-friendly-home">buyers are waking up to the benefits of a more environmentally friendly home</a>. The Prime Minister has been exploring new initiatives to ease access to home ownership including <a href="https://residential.jll.co.uk/insights/research/extending-right-to-buy-june-2022">the extension of right to buy</a>, whilst new JLL data highlights <a href="https://residential.jll.co.uk/insights/news/crossrail-may-2022">the areas surrounding Crossrail stations which command the highest premiums</a></p>

Market Update June 2022

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<strong>Rising energy, fuel and food costs continue to put pressure on household budgets this month.</strong>

Rising energy, fuel and food costs continue to put pressure on household budgets this month.

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<p>Until everyone feels safe at work, in their own community and in wider society, the work to make it happen will not stop.
    <br /></p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/pride.png?Status=Master&amp;sfvrsn=3f728f91_1" sf-size="100" /><p>PRIDE month (June 2022 in the UK) and PRIDE in London 2022 (2<sup>nd</sup> July) serve as a critical reminder that there are still sections of society that are excluded and at risk of and experiencing persecution. But work towards a fully diverse and
    inclusive workplace culture must be year-round in all organisations, particularly in large global corporations like JLL.</p><h2><strong>PRIDE 24/7</strong></h2><p>Members of the various JLL diversity and inclusion networks and communities are committed to 24/7, year-round work to create an inclusive and safe working environment that gives everyone the freedom to bring their whole self to work and achieve their
    best.</p><p>Promoting opportunity for everyone means having the right networks in place to educate, inspire, and hold accountable. Events are a great way to fulfil all three of these objectives when it comes to diversity and inclusion.
</p><h2><strong>JLL PRIDE highlights so far</strong></h2><p>PRIDE isn&rsquo;t all about colourful campaigns and expensive stunts, the real action happens every time we recruit new talent in line with D&amp;I policies, every time our D&amp;I committees meet, every time someone comes to work and feels safe, valued,
    seen, and heard.</p><p>Here are some of our recent D&amp;I highlights that we take PRIDE in because they&rsquo;re making a real difference. We are proud to:</p><ul><li>have been part of a working group that helped curate and shape content for the RICS Pride 2022 Seminar. At the event, <a target="_blank" href="https://www.linkedin.com/in/ACoAADBxqLEBBn9SqVPtwqTY-hKbhPow6WXcQfU">Natalie Patrick</a> (JLL, Senior Surveyor) lead a panel discussion featuring Rico Naylor (JLL Graduate Surveyor) as one of the panellists. You can watch the full event <a target="_blank" href="https://www.youtube.com/watch?v=YfGRnMIyAc4">here</a>.</li><li>be one of the 27 firms praised in the <a href="https://www.egi.co.uk/news/eg-lgbtq-survey-highlights-exemplars-across-real-estate/">Estates Gazette
    Real Estate &ndash; Attitudes and Actions Survey</a>, for promoting inclusivity across their businesses and the real estate and property sector. While the industry still has work to do, the 2022 survey offered up some reasons to be proud. JLL was
        mentioned repeatedly as leading the way, particularly with new internal policies and an emphasis on providing training and positively changing the workplace culture.</li><li>be hearing from <a target="_blank" href="https://www.akt.org.uk/">atk LGBTQ+ youth homelessness charity</a> about their mission and history, hosted at our Manchester office and broadcasted to JLL employees.</li><li>join <a target="_blank" href="https://www.us.jll.com/en/careers/diversity-inclusion/building-pride-business-network">Building
 Pride</a>, JLL&rsquo;s D&amp;I business community, in a Lip Sync Office Battle at their headline PRIDE event. We are challenging offices across the UK to create a lip sync video to an iconic LGBT+ anthem! <a data-sf-ec-immutable="">Watch
 this space</a><a target="_blank" id="_anchor_1" data-sf-ec-immutable="">[ch1]</a>&nbsp;.</li><li>have strong alliances within the <a target="_blank" href="https://freeholdlgbt.com/">Freehold LGBT network</a> - a networking forum for LGBTQ+ professionals working within the real estate sector. We attend and support Freehold
        events throughout the year.</li><li>have held a Trans awareness workshop in March 2022, which was delivered by <a href="https://www.shoutout.ie/">ShoutOut</a>, a registered charity committed to improving life for LGBTQ+ people through education around LGBTQ+
        issues.</li></ul><br /><h2><strong>Partnerships with people who know more than we do</strong></h2>Getting better at something every day means surrounding ourselves with people who know more than we do. That&rsquo;s why we&rsquo;re so proud to partner with important networks, charities
and allies.
<div><hr align="left" size="1" width="33%" /><div><div id="_com_1"><p>Find out more about <a target="_blank" href="https://www.jll.co.uk/en/about-jll/diversity-and-inclusion">diversity and inclusion at JLL</a> and <a target="_blank" href="https://www.jll.co.uk/en/careers">explore a career</a> with us.&nbsp;</p></div></div></div>

Proud to celebrate PRIDE every day of the year

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Until everyone feels safe at work, in their own community and in wider society, the work to make it happen will not stop.

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<p><strong>JLL&rsquo;s latest Living Priorities Survey.</strong></p><p>What we want from our homes is constantly evolving. Both the pandemic and rising energy costs means households are again re-evaluating their priorities. </p><p>To better understand what buyers want in today&rsquo;s market, and how this might change in the future, we contacted potential buyers registered with JLL to hear their thoughts. </p><p><strong style="background-color:transparent;color:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;">Electric cars &ndash; a lesson for the housing market?</strong><br /></p><p><span style="background-color:transparent;color:inherit;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;">Within a short space of time, we have seen a rapid shift in motorists&rsquo; willingness to adopt electric vehicles in a bid to lower their environmental impact. Could we see this positive approach to environmental sustainability feed through into our homes?</span><br /></p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/graphical-image-1-insights.png?Status=Master&amp;sfvrsn=47d153a5_1" sf-size="100" /><p>New JLL research from our latest Living Priorities survey, explores the change in the proportion of people who expect to be driving an electric or hybrid vehicle in the future. At present, just 8% of respondents drive an electric or hybrid car, versus 43% petrol or diesel. However, when asked about their next vehicle the survey results show a greater appetite for electric vehicles, with almost 70% expecting to drive an electric or hybrid car in the future, versus just 9% for petrol or diesel.</p><p><strong>What&rsquo;s driving the push towards more energy efficiency homes?</strong></p><p>For most, our homes will be the largest investment we make in our lives. Our survey has found that a larger number of people are now placing even more importance on the environmental impact of their home. Undeniably, reducing the running costs of a home is the key motivator for most, however many people are also increasingly aware that there is a desire to become more socially responsible. Almost two thirds of our respondents said that achieving a lower carbon footprint was important to them.</p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/grpahical-image-2-insights.png?Status=Master&amp;sfvrsn=36e05bc6_1" sf-size="100" /><p>70% of respondents viewed the energy efficiency and running costs of their home as more important now versus pre-pandemic. Back in April, we explored <a href="https://residential.jll.co.uk/insights/news/jll-could-new-home-demand-rise-as-energy-prices-soar"><a href="https://residential.jll.co.uk/insights/news/jll-could-new-home-demand-rise-as-energy-prices-soar">what the rising energy costs meant for UK homes</a></a>. JLL research found that the lifting of the energy price cap could result in the average band G home experiencing an increase in bills of over &pound;1,700 per annum, an extra &pound;3,246 more per annum than the average home in bands A-C. It is therefore unsurprising perhaps, that 82% of respondents voted a &lsquo;saving on energy bills&rsquo; as the reason why the environmental sustainability of their home is important to them.</p><p><strong>Are purchasers willing to pay more?</strong></p><p>Over half of respondents (57%) would be prepared to pay a premium for a more environmentally friendly home. Of those who said &lsquo;yes&rsquo;, half would pay just up to 5%. In total, 83% of those who would pay a premium, would be prepared to pay up to 10% more for an environmentally friendly home.&nbsp;</p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/grpahical-image-3-insights.png?Status=Master&amp;sfvrsn=fc72dafe_1" sf-size="100" /><p><strong>So, what does this mean for our homes in the future, particularly the new homes sector?</strong></p><p>Rising energy costs have undoubtedly pushed energy efficiency up the list of importance for homeowners. But whether they are driven purely by costs, social responsibility or likely a combination of both, what is clear is that buyers will be taking energy consumption into consideration more, when looking for homes in the future. </p><p>80% of our respondents said that the environmental impact of their home will be either crucial or important in their next move, with the number of people willing to purchase a new home, if it meant improved environmental efficiency, rising from 51% from their last move, to 78% going forward. </p><p>With purchasers becoming more environmentally aware and the potential for more sustainable homes to command a premium, the new homes market should be well placed to benefit.&nbsp; Analysis of EPC ratings for UK homes shows 83% of new build properties boast an EPC rating of A or B, versus just 3% for existing stock.</p><p><em style="background-color:initial;font-family:inherit;font-size:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;caret-color:auto;">The JLL Living Priority Survey 2022 was conducted in May 2022 with a total of 104 respondents.</em><br /></p><p><sup>Disclaimer: &copy; 2022 Jones Lang LaSalle IP, Inc. All rights reserved.</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>

Are buyers waking up to the benefits of a more environmentally friendly home?

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A first glance at JLL&rsquo;s latest Living Priorities Survey

A first glance at JLL’s latest Living Priorities Survey

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<h3>JLL &ndash; Do properties close to Crossrail stations command a premium?</h3><p>The Crossrail Bill was introduced to Parliament in February 2005. Three and a half years later, in July 2008, the Bill completed all the Parliamentary stages and received Royal Assent to become the Crossrail Act. Works officially began on the project
    in 2009 with tunnelling starting in 2012. A decade on, JLL have undertaken new research to assess the impact on property values along the line.<br /></p><p><em>Since 2012:</em></p><ul><li><em>Growth in average prices in areas surrounding 76% of Crossrail stations outperformed the regional average.</em></li><li><em>18 stations have experienced sales price growth of over 70% since 2012.</em></li><li><em>Largest premiums typically found along the Eastern lines.</em><br /></li></ul><p>New research from JLL shows that the price of homes surrounding 76% of Crossrail stations have outperformed the wider market over the period 2012-2021.</p><img alt="" src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/cross-rail-body-image.png?Status=Master&amp;sfvrsn=beb86161_1" sf-size="100" /><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/graph-image-1.jpg?Status=Master&amp;sfvrsn=e8b97db7_1" sf-size="100" alt="" /><h3><strong>2005 &ndash; 2009</strong></h3><p>Between 2005 and 2009, when savvy buyers were hoping to capitalise on lower prices and higher growth, the average increase of property values across all stations was 15%. At the beginning of the project, between 2005 and 2009, 20% of properties along
    the line saw higher house price growth than the regional average. </p><h3><strong>2012 &ndash; 2021</strong></h3><p>Between 2012 and 2021, average property values rose 73% in the areas surrounding Crossrail stations; 19 percentage points higher than the growth seen across London over the same period.&nbsp; 84% of stations recorded higher house price growth than the
    regional average. &nbsp;With work started fuelling confidence in those looking to invest. </p><p>Since 2012, investors have continued to support price growth in these areas. At the top of the list, properties located near Forest Gate have outperformed the regional average (London) over the period 2012-2021, with growth 67 percentage points higher.
    Properties close to Forest Gate benefit from journey time savings of 11 minutes to Canary Wharf and 16 minutes to Paddington. &nbsp;</p><p>Some of the largest premiums over regional averages are found along the Eastern lines. Despite this, previous JLL research has found time savings are typically the greatest from Slough and the Western section into central London.&nbsp; Over the past decade,
    house prices in Slough have increased by 25% more than the regional average. </p><p>Rising values have not been restricted to the western and eastern ends of the line though. Bond Street, Paddington, Farringdon and Tottenham Court Road have all seen their average house price more than double since works began in 2009</p><img src="https://dev-cms-resi.eu.jll.com/images/default-source/agency/2nd-graph---crossrail.png?Status=Master&amp;sfvrsn=227e9f1d_1" sf-size="100" alt="" /><h3>After over a decade of house prices surges, have house price premiums peaked, or is the best yet to come?</h3><p>When large regeneration or infrastructure projects are proposed certain buyers pounce, but others want to see the improvements in place before they commit. The speculators buy in early, purchasing homes in the anticipation that investment will lead to
    additional growth in house prices. They are likely to have capitalised on lower property values between 2005 and 2009 when the Crossrail bill was accepted and subsequently, when works began. </p><p>Certain occupiers are more likely to wait and be willing to pay a premium, once improvements are in place, or in the case of Crossrail, stations open and trains begin to run. Landlords will be the first to benefit, as improved travel times and increased
    capacity makes the areas more attractive to prospective tenants. </p><p>Senior Research Analyst at JLL, Meg Eglington says <em>&ldquo;The promise of greater capacity and faster commutes have meant housing markets surrounding Crossrail stations have outperformed since the scheme was announced. But with trains starting to run across the network we could see further growth, now appealing to a new group of investors, homeowners, and tenants, waiting for the project to complete before moving in.&rdquo; </em></p><p><em>&ldquo;As Crossrail nears completion, residential areas at stations along the line have re-emerged on people&rsquo;s radars, shorter commute times meaning areas previously less well connected can now compete with higher value commuter hotpots. Even with people now working more flexibly we expect a comfortable, fast, and reliable commute when they do need to travel, will ensure that property values continue to benefit from the Crossrail &lsquo;effect&rsquo; for years to come&rdquo;.&nbsp; </em></p><p>&nbsp;</p><p><strong><sup><span style="">About JLL</span></sup></strong></p><sup></sup><p><sup>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. </sup></p><sup></sup><p><sup>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. </sup><br /></p><sup></sup><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>

Crossrail – May 2022

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<p>JLL &ndash; Do properties close to Crossrail stations command a premium?.</p>

As Crossrail opens what has been the impact on house prices along the route?

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<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

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://dev-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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 <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://dev-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

We have released new research predicting the UK residential property market&rsquo;s first ever &pound;100 billion summer.

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

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

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>

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1614952765/resi/gb/cms/Research/Images/Stamp_Duty_tile_West_End_Gate.jpg

<h2><strong>Home working during European lockdowns </strong></h2><p>In the <a href="https://residential.jll.co.uk/insights/research/housing-needs-and-resident-preferences-across-europe-during-covid-19">previous blog</a>, we identified shifting preferences on home location and priorities within the home itself. Many of these have been stimulated by much more time spent at home under &lsquo;shelter in place&rsquo; orders, as economic activity has drastically shifted from offices to residential units.</p>This blog unpicks the changing nature of peoples&rsquo; experiences and expectations for working from home, and leads onto identifying the similarities different socio-demographic cohorts exhibit across the whole European sample, including wider changes in home preferences in light of Covid-19.<br /><br /><h2><strong>Working from home</strong></h2><p>Covid-19 has triggered a widespread temporary shift to homeworking. Government guidance across the continent almost unilaterally was to work from home wherever possible. Time spent at work fell, compared to normal, between 83 and 90% during its nadir under lockdown, according to Google Trends.</p>69% of survey respondents worked infrequently (less than once a week or never) before Covid-19, but being forced to work from home for a prolonged period has changed perceptions and expectations moving forward. In a post-Covid-19 world, our respondents want to work from home more, with the most common preference (53%) being 1-2 days per week. The below chart shows that the majority of flows are moderate changes to habits. For example, those who never work from home are now mostly wanting to work once or twice a week, rather than all the time. Indeed, the same proportion (7%) of respondents are looking to work from home full-time.<br /><br /><img src="https://dev-cms-resi.eu.jll.com/images/default-source/default-album/graph-1---living-prioritiesdd2906d281be463a9b788c86df40000b.png?sfvrsn=ca7b6573_0" style="vertical-align:middle;" title="Graph 1 - Living priorities" data-displaymode="Original" alt="Graph 1 - Living priorities" /><br /><p>It is worth noting that changing work from home preferences does not necessarily correlate with lower overall office space demand. The equation is much more complicated than this, as discussed in JLL&rsquo;s &lsquo;<a href="https://www.jll.co.uk/en/trends-and-insights/research/future-of-office-demand">The Future of Global Office Demand</a>&rsquo; paper, and includes factors relating to office design and commuting patterns, as well as technological influences. </p><p>Most of the changes from our survey are minimal, and are likely to soften as people return to work and realise the benefits that personal interactions can have on productivity and collaboration in particular. Indeed, four months on from the first lockdowns, we are starting to a see a significant return of workers to their offices, albeit at limited capacity for now. As discussed in the earlier blog, people are looking to recreate the professional working environment at home, with second screens, office chairs, spare rooms and so on, meaning they value quality set ups. Indeed, there are many aspects of office life that simply cannot be replicated in a permanent work from home situation. There are many other factors at play as we look to the future across Europe: societal customs across the continent, ability for individuals to balance work and home lives, and ultimately employer rules and receptiveness this change. </p>One of the interesting elements to this is the differences between age groups across our sample. Younger cohorts were significantly less likely to regularly work from home, with only 24% of 18-34s working from home once a week or more. The pandemic has significantly disrupted this trend, with all age groups relatively equally likely to want to work from home once or twice per week.&nbsp;<br /><br /><img src="https://dev-cms-resi.eu.jll.com/images/default-source/default-album/graph-2---living-priorities.png?sfvrsn=1634891_0" style="vertical-align:middle;" title="Graph 2 - living priorities" data-displaymode="Original" alt="Graph 2 - living priorities" /><br /><h2><strong style="font-size:18px;">Towards a cohort classification</strong></h2>One of the most striking things about the survey results is how similar experiences have been, and the strong similarities of preference for those at different life stages. Drawing on themes from both blogs, the below graphic tries to identify different socio-demographic cohorts and their headline results from the survey. We can recognise the groups most likely to look to move, where their preference would be, what they want out of a home. The changing intention around home working is also notable different, perhaps showing the demographics the offices of the future should be more targeted towards.&nbsp;<br /><br /><img src="https://dev-cms-resi.eu.jll.com/images/default-source/default-album/graph-3---living-priorities.png?sfvrsn=33046ac1_0" style="vertical-align:middle;" title="Graph 3 - living priorities" data-displaymode="Original" alt="Graph 3 - living priorities" /><h2><strong>Temporary or permanent?</strong></h2><p>The survey was conducted while much of Europe&rsquo;s population was in the deepest throngs of lockdown and is therefore likely that results reflect a bias for immediate concerns. As the continent&rsquo;s lockdowns ease and a semblance of normality emerges, it is possible that some views will soften, but other preferences will endure. </p><p>We are looking to re-run the survey in the autumn to understand the permanency of these views &ndash; how far away is the &lsquo;new normal&rsquo; from past expectations?</p><p style="text-align:center;"><img src="https://dev-cms-resi.eu.jll.com/images/default-source/default-album/thomas-colthorpec1eb2d7194d94b96a1dcd11ed2e1eead.tmb-medium.jpg?sfvrsn=2397beb_1" style="vertical-align:middle;" title="Thomas.Colthorpe" data-displaymode="Thumbnail" alt="Thomas.Colthorpe" /></p><p style="text-align:center;"><a href="mailto:Thomas.Colthorpe@eu.jll.com" target="_blank"><button class="Button primary">Contact</button></a></p><div style="margin:15px;"><p style="text-align:center;">Tom Colthorpe<br />Senior Analyst</p></div>

Home working during lockdown across Europe

In the second of two blogs based on our JLL employee survey, we interrogate shifting work from home patterns under lockdown across Europe and how they influence people’s perceptions of the home. 

In the second of two blogs based on our JLL employee survey, we interrogate shifting work from home patterns under lockdown and how they influence people&rsquo;s perceptions of the home. Drawing on all the data, we demonstrate there are significant similarities in the experiences and expectations of distinct socio-demographic cohorts across Europe.

https://res.cloudinary.com/jll-global-olm-np/image/upload/v1598034825/resi/gb/cms/Blogs/Images/GettyImages-1223377340-488x180-min.jpg

<p>The latest set of A-level results are expected to trigger an active period for the UK student accommodation sector as students race to secure tenancies for the upcoming academic year. The sharp increase in applications between January and June has led to a 2% increase in UK applicants this year, while participation rates are at their highest level on record amongst UK 18-year olds. This goes against the underlying demographic decrease amongst this age group in recent years and defies predictions of the impact of COVID-19. </p>
<p>As of 30<sup>th</sup> June 2020, UCAS data showed that over two thirds of applicants had still not confirmed their final offers, a 10% increase in unconfirmed places compared to 2019/20. However, the first clearing data shows that UK acceptances are up by 2.9%, while non-EU acceptances are up by 2.0%. Although EU acceptances have fallen by 15.2%, overall acceptances on A-level results day are up by 1.9% year on year. </p>
<p>With universities subject to a temporary 5% cap on how many students they can take for the 2020/21 academic year, many students will now be facing strong competition given that 78% of students achieving grades A*- C (up from 75.5% in 2019). The recent GDP and employment data and the disruption caused by several months of national lockdown means that deferrals are not expected to increase. This will give many universities the opportunity to fill their places with high quality students.</p>
<p>Furthermore, the government has announced that any student appealing their decision will be exempt from the cap on places which may help to underpin demand. Although 40% of students received grades different from their teacher&rsquo;s predictions, 97% of all students are within one grade. The introduction of the triple lock and universities taking a more relaxed approach to selection is also welcome. So far, the government will not reissue downgraded students the grades predicted by their teachers, as was the case in Scotland, however public response over the forthcoming weeks may lead to additional updates from central government. </p>
<p>As before, much still rests on how many international students turn up for the start of term. There have been tentative signs that demand from this group has held firm, despite some initial concerns about the impact of COVID-19. UCAS figures from the 30<sup>th</sup> June deadline showed international applications up by 5% when compared to the same time in 2019/20. </p>
<p>Overall, leasing activity for purpose-built student accommodation remains strong. To date, over 70% of private PBSA beds have already been let for the new academic year, according to JLL&rsquo;s Student Housing Leasing Survey of over 145,000 beds, equivalent to 45% of the private market. Total bookings are ahead of where they were 12 months ago, largely as a result of existing students rebooking, and demand from new students is also up. </p>
<p>Following the disruption to the sector in March and April, the flurry of leasing activity expected in the coming weeks, as students settle on their courses and look to secure accommodation ahead of the new academic year, is expected to be positive for the sector. The results today further suggest demand will remain in the short to medium term, providing some much-needed relief to investors. </p>
<p>Philip Hillman, Chairman, Living Capital Markets, comments:</p>
<p>&ldquo;There is still uncertainty around how things will look once the new academic year gets underway in September, but after a significant period of disruption there are some encouraging signs. &nbsp;The longer-term outlook for student housing remains strong and it will continue to be driven by the same underlying counter cyclical factors that has attracted so much investment in recent years.&rdquo;</p>
<img src="https://dev-cms-resi.eu.jll.com/images/default-source/default-album/james-kingdom-bw-488x180.jpg?sfvrsn=de9ea989_0" data-displaymode="Original" alt="James-Kingdom-BW-488x180" title="James-Kingdom-BW-488x180" /><br />
<br />
<p style="text-align: center;">James Kingdom<br />
Associate - UK Living Capital Markets Research</p>

UK student housing update following A-level results day

An update on the demand outlook for the UK student housing sector following the release of this year’s A-level result. 

An update on the demand outlook for the UK student housing sector following the release of this year&rsquo;s A-level result for students in England and Wales. The new academic year presents a chance for the student housing sector to resume following the disruption caused by the pandemic in March.

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<p style="text-align:left;"><b></b>Following RICS&rsquo; guidance today announcing the removal of the need for material uncertainty clauses (MUC) for residential valuations, JLL&rsquo;s and Savills&rsquo; valuation teams have released a joint statement expressing their decision
    to remove MUCs from reports and reflecting on RICS&rsquo; recommendations.</p><p>The guidance by the Royal Institution of Chartered Surveyors impacts the vast majority of residential valuations as it specifies &lsquo;residential property and land&rsquo;, with reference to specific use classes. However, it remains open to individual
    valuers to deploy the clause in exceptional circumstances, if they consider it necessary in relation to the particular asset or assets being valued and in the light of local market conditions. </p><p>Download the joint statement below:
</p><a href="https://res.cloudinary.com/jll-global-olm-np/image/upload/v1594993947/resi/gb/cms/News/PDFs/Covid-19_Joint_Statement_JLL_Savills_Update_17.07.20.pdf" target="_blank" style="font-size:inherit;font-family:inherit;text-align:inherit;text-transform:inherit;white-space:inherit;word-spacing:normal;"><button class="Button primary">Download the statement</button></a>

JLL and Savills valuers announce lifting of material uncertainty clauses based on RICS’ recommendations

Following RICS&rsquo; guidance today announcing the removal of the need for material uncertainty clauses (MUC) for residential valuations, JLL&rsquo;s and Savills&rsquo; valuation teams have released a joint statement expressing their decision to remove MUCs from reports and reflecting on RICS&rsquo; recommendations.

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<h3 class="featuredProperties__title"><span class="featuredProperties__title-featured typography-hero">Featured </span><span class="featuredProperties__title-project typography-hero"> resales</span></h3>

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label="£1,700 pcm" 
value=1700 
[max_week.28] 
label="£1,800 pcm" 
value=1800 
[max_week.29] 
label="£1,900 pcm" 
value=1900 
[max_week.30] 
label="£2,000 pcm" 
value=2000 
[max_week.31] 
label="£2,500 pcm" 
value=2500 
[max_week.32] 
label="£3,000 pcm" 
value=3000 
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label="£3,500 pcm" 
value=3500 
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label="£4,000 pcm" 
value=4000 
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label="£5,000 pcm" 
value=5000 
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label="£6,000 pcm" 
value=6000 
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label="£7,000 pcm" 
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label="£8,000 pcm" 
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[max_week.39] 
label="£9,000+ pcm" 
value=1000000

[min_month] 
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label="No Min" 
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value=300 
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label="£350 pcm" 
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label="£400 pcm" 
value=400 
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label="£450 pcm" 
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label="£500 pcm" 
value=500 
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label="£600 pcm" 
value=600 
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label="£700 pcm" 
value=700 
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label="£800 pcm" 
value=800 
[min_month.9] 
label="£900 pcm" 
value=900 
[min_month.10] 
label="£1,000 pcm" 
value=1000 
[min_month.11] 
label="£1,100 pcm" 
value=1100 
[min_month.12] 
label="£1,200 pcm" 
value=1200 
[min_month.13] 
label="£1,300 pcm" 
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[min_month.14] 
label="£1,400 pcm" 
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label="£1,500 pcm" 
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[min_month.16] 
label="£1,600 pcm" 
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label="£1,700 pcm" 
value=1700 
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label="£1,800 pcm" 
value=1800 
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label="£1,900 pcm" 
value=1900 
[min_month.20] 
label="£2,000 pcm" 
value=2000 
[min_month.21] 
label="£2,250 pcm" 
value=2250 
[min_month.22] 
label="£2,500 pcm" 
value=2500 
[min_month.23] 
label="£2,750 pcm" 
value=2750 
[min_month.24] 
label="£3,000 pcm" 
value=3000 
[min_month.25] 
label="£3,500 pcm" 
value=3500 
[min_month.26] 
label="£4,000 pcm" 
value=4000 
[min_month.27] 
label="£4,500 pcm" 
value=4500 
[min_month.28] 
label="£5,000 pcm" 
value=5000 
[min_month.29] 
label="£5,500 pcm" 
value=5500 
[min_month.30] 
label="£6,000 pcm" 
value=6000 
[min_month.31] 
label="£6,500 pcm" 
value=6500 
[min_month.32] 
label="£7,000 pcm" 
value=7000 
[min_month.33] 
label="£8,000 pcm" 
value=8000 
[min_month.34] 
label="£9,000 pcm" 
value=9000 
[min_month.35] 
label="£10,000 pcm" 
value=10000 
[min_month.36] 
label="£12,500 pcm" 
value=12500 
[min_month.37] 
label="£15,000 pcm" 
value=15000 
[min_month.38] 
label="£17,500 pcm" 
value=17500 
[min_month.39] 
label="£20,000 pcm" 
value=20000 
[min_month.40] 
label="£25,000 pcm" 
value=25000 
[min_month.41] 
label="£30,000 pcm" 
value=30000 
[min_month.42] 
label="£35,000 pcm" 
value=35000 
[min_month.43] 
label="£40,000+ pcm" 
value=40000

[max_month] 
[max_month.0] 
label="No Max" 
value="" 
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label="£300 pcm" 
value=300 
[max_month.2] 
label="£350 pcm" 
value=350 
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label="£400 pcm" 
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label="£450 pcm" 
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label="£500 pcm" 
value=500 
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label="£600 pcm" 
value=600 
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label="£700 pcm" 
value=700 
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label="£800 pcm" 
value=800 
[max_month.9] 
label="£900 pcm" 
value=900 
[max_month.10] 
label="£1,000 pcm" 
value=1000 
[max_month.11] 
label="£1,100 pcm" 
value=1100 
[max_month.12] 
label="£1,200 pcm" 
value=1200 
[max_month.13] 
label="£1,300 pcm" 
value=1300 
[max_month.14] 
label="£1,400 pcm" 
value=1400 
[max_month.15] 
label="£1,500 pcm" 
value=1500 
[max_month.16] 
label="£1,600 pcm" 
value=1600 
[max_month.17] 
label="£1,700 pcm" 
value=1700 
[max_month.18] 
label="£1,800 pcm" 
value=1800 
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label="£1,900 pcm" 
value=1900 
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label="£2,000 pcm" 
value=2000 
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label="£2,250 pcm" 
value=2250 
[max_month.22] 
label="£2,500 pcm" 
value=2500 
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label="£2,750 pcm" 
value=2750 
[max_month.24] 
label="£3,000 pcm" 
value=3000 
[max_month.25] 
label="£3,500 pcm" 
value=3500 
[max_month.26] 
label="£4,000 pcm" 
value=4000 
[max_month.27] 
label="£4,500 pcm" 
value=4500 
[max_month.28] 
label="£5,000 pcm" 
value=5000 
[max_month.29] 
label="£5,500 pcm" 
value=5500 
[max_month.30] 
label="£6,000 pcm" 
value=6000 
[max_month.31] 
label="£6,500 pcm" 
value=6500 
[max_month.32] 
label="£7,000 pcm" 
value=7000 
[max_month.33] 
label="£8,000 pcm" 
value=8000 
[max_month.34] 
label="£9,000 pcm" 
value=9000 
[max_month.35] 
label="£10,000 pcm" 
value=10000 
[max_month.36] 
label="£12,500 pcm" 
value=12500 
[max_month.37] 
label="£15,000 pcm" 
value=15000 
[max_month.38] 
label="£17,500 pcm" 
value=17500 
[max_month.39] 
label="£20,000 pcm" 
value=20000 
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label="£25,000 pcm" 
value=25000 
[max_month.41] 
label="£30,000 pcm" 
value=30000 
[max_month.42] 
label="£35,000 pcm" 
value=35000 
[max_month.43] 
label="£40,000+ pcm" 
value=1000000

Rent - Price

Price

title="Currency"
metric="currency"
type="currency-select"
name="currencyType"
placeholder="GBP (£)"
order=1
[[options]]
label="GBP (£)"
value="gbp"
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label="USD ($)"
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label="HKD (HK$)"
value="hkd"
[[options]]
label="CNY (¥)"
value="cny"
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label="AED (د.إ)"
value="aed"


Currency

currencyType

title="Price"
metric="£"
type="minmax"
name="Price"
order=2

[min]
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label="No Min"
value=""
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label="£700,000"
value=700000
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label="£800,000"
value=800000
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label="£900,000"
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[min.10]
label="£1,000,000"
value=1000000
[min.11]
label="£2,000,000"
value=2000000
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label="£3,000,000"
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label="£4,000,000"
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[max]
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label="£700,000"
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label="£1,000,000"
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[max.11]
label="£2,000,000"
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label="£3,000,000"
value=3000000
[max.13]
label="£4,000,000"
value=4000000
[max.14]
label="£5,000,000+"
value=5000000

Sale - Price

title="Beds"
metric="bedrooms"
type="minmax"
name="bed"
order=3

[min]
[min.0]
label="No Min"
value=""
[min.1]
label="Studio"
value=0
[min.2]
label="1 bedroom"
value=1
[min.3]
label="2 bedrooms"
value=2
[min.4]
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value=3
[min.5]
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[min.6]
label="5 bedrooms"
value=5
[min.7]
label="6 bedrooms"
value=6
[min.8]
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[min.9]
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[max]
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label="No Max"
value=""
[max.1]
label="Studio"
value=0
[max.2]
label="1 bedroom"
value=1
[max.3]
label="2 bedrooms"
value=2
[max.4]
label="3 bedrooms"
value=3
[max.5]
label="4 bedrooms"
value=4
[max.6]
label="5 bedrooms"
value=5
[max.7]
label="6 bedrooms"
value=6
[max.8]
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[max.200]
label="8+ bedrooms"
value=8

Bedrooms

Beds

title="Property Type"
metric="propertyType"
type="select"
name="type"
placeholder="Any Type"
order=4

[[options]]
label="Any Type"
value=""
[[options]]
label="Flats"
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Property Type

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[[options]]
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value="coming-soon"
[[options]]
label="Stamp duty promotion"
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[[options]]
label="Shared ownership"
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Sale - Options

flags

Must be

title="Options"
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[[options]]
label="Short Term"
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[[options]]
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value="unfurnished"

Rent - Options

Options

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service

firstName

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message

<p><strong>PRIVACY NOTICE</strong></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>
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Mount St form

Arrange View

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videoOption

Let us know your preferred time for a viewing and we will get in touch with you to confirm a time.

Fill out the form or call us at {{ phone }}

Arrange a viewing

<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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