London tenants continue to suffer as rent reaches £597 per week August 14, 2023 The amount Londoners fork out on rent grew 12 per cent year-on-year in July, new figures show, topping £597 per week. According to data from London estate agent Foxtons, July saw an average of 21 rental applicants per new home arriving on the market, an 18 per cent increase month-on-month, however a 12 per cent [...]
Santander becomes latest bank to cut mortgage rates amid falling inflation August 14, 2023 Santander has become the latest high street lender to reduce the rates of its mortgage deals, following a stream of other cuts by fellow banks last week, in a signal of hope for prospective buyers. On Monday, the bank cut its selected residential purchase and remortgage fixed rates by between 0.05 per cent and 0.29 [...]
Marshalls: Can struggling landscaping giant exceed ‘fairly low’ expectations? August 13, 2023 Investors will turn their focus to building products supplier Marshalls interim results on 16 August to see if the business has picked up any momentum amid a growing slump in the UK house building market. The group, which is headquartered in West Yorkshire, has shown signs of struggling in recent months and announced in July [...]
Soho House: Waiting list for celebrity haunt at ‘all-time high’ with 95,000 in line August 11, 2023 The wait list to secure a place at private members club Soho House has risen to “all-time high” with approximately 95,000 deep-pocketed individuals eager to secure a place at the spot globally. Soho House & Co Inc. the business behind the luxury hub, revealed its growing demand as part of its second quarter results – [...]
Mortgage and rent payments ‘difficult’ for almost 40 per cent of Brits August 11, 2023 Some 38 per cent of Brits have confessed to finding it difficult to afford their rent or mortgage payments over the past month, as the cost of living crisis continues to wreak havoc on the public’s personal finances. This figure was around 29 per cent in early August 2022, new figures from the ONS show, [...]
Savills’ share price tumbles as estate agent warns over health of housing market August 10, 2023 Savills’ share price has plummeted after the estate agent blamed “obvious challenges” in the housing market for slumping revenues in the first half of the year. As rising mortgage rates knocked buyer confidence, the real estate advisor said group profit before tax fell to a weak £6.0m in the first six months of the year [...]
West End faces office supply crunch as back to work demand picks up August 10, 2023 Central London, particularly the West-End, is facing an office space supply crunch as demand for in person working picks up, property investment trust Derwent London has said. According to reports in its half year results, the listed business described the West-End as “very tight” with only 3.8 per cent of vacancy levels on office space. [...]
Persimmon slashes number of homes built as rate rise rattles business August 10, 2023 Persimmon has cut the number of homes it’s building by more than a third as the housebuilder faces up to rapidly rising mortgage rates and a slowdown in consumer confidence. The construction company built a total of 4,249 homes in the first half of the year down from 6,652 homes compared to the same period [...]
Estate agents hate these questions: You should ask them anyway August 10, 2023 Buying and selling your home is always high on the list of the most stressful times in a person’s life, up there with taking exams, getting divorced, and passing (or failing) a driving test. Estate agents are there to make this job easier, although only the good ones actually do. We asked two of the [...]
Property of the week: Live like a king in Marylebone August 10, 2023 This stunning property designed by Milanese interiors studio Peregalli looks like it belongs in the Le Palais de Versailles rather than the middle of Marylebone. The one-of-a-kind flat spans two Georgian townhouses, featuring double-height ceilings and intricate plasterwork throughout. It has an entrance hall; reception room with three huge sash widows; formal dining room complete [...]