Foxtons says off-plan buyers in London may benefit from house price growth during the build period, with an average uplift of about £26,255 before completion based on its analysis. The article also notes that Hamptons has warned off-plan sales have fallen to a 12-year low, which could make it harder for government housebuilding targets to be met.
A Bank of England Monetary Policy Committee member has signalled support for a possible near-term interest rate rise, citing the risk that inflation becomes entrenched. The article notes that mortgage rates have already risen and that the housing market has slowed, with Nationwide reporting a monthly fall in house prices in May.
Foxtons argues that off-plan property purchases can still offer advantages to buyers, despite a reported decline in off-plan sales. The article frames this as a market commentary rather than a regulatory or legal development.
