London homeowners face ‘grim’ mortgage cost hike of £7,300 if Bank raises rates again June 12, 2023 London homeowners looking to renegotiate their mortgage this year face a whopping £7,300 rise in annual costs as experts warn of the “grim reality” of rising interest rates. The Bank of England is predicted to hike interest rates for the 13th consecutive time this year to 5.5 per cent in efforts to cool soaring inflation, [...]
London’s workspace occupancy ‘higher than before the pandemic’, says Argyll boss June 8, 2023 The boss of London’s oldest office provider Argyll has said he has seen “unprecedented” levels of office occupancy in the last six months, defying concerns that Covid-19 had permanently pushed Londoners toward homeworking. Speaking to City A.M. Argyll chief executive John Drover said that rates of occupancy had reached 90 per cent, with the firm [...]
House prices: London and south east falling faster than rest of the country June 7, 2023 London house prices have fallen by more than the national average, according to new data, with the south east also hit hard
Purplebricks: Troubled estate agent sold to rival Strike for £1 as job cuts loom June 2, 2023 Purplebricks has been sold for £1 to online estate agency Strike after shareholders approved the offer from the only remaining bidder. It will see the troubled firm come under the ownership of its rival, backed by Carphone Warehouse founder Sir Charles Dunstone. The online agency agreed to sell its business and assets to Strike for [...]
Prospective buyers hit with fresh blow as mortgage approvals continue to fall June 1, 2023 Prospective buyers continue to suffer setbacks as fresh data reveals that mortgage approvals fell during April. Net mortgage approvals for house purchases fell from 51,500 in March to 48,700 in April, figures from the Bank of England show, with experts predicting that the figure could fall further following the central bank’s decision to hike interest [...]
Interest rate hikes triggers house price fall and analysts think there’s further to go June 1, 2023 House prices remain below their August peak as demand softens following a spike in interest in early spring. The annual rate of house price growth slipped back to -3.4 per cent from -2.7 per cent in April, figures from Nationwide show, as the Bank of England’s decision to hike interest rates rattled buyers confidence. In [...]
Morning in the City: Live updates with Dr Martens, Nationwide HPI and US debt ceiling June 1, 2023 Welcome to the live blog on the first of June, with updates on Dr Martens, Nationwide’s regular House Price Index, the US debt ceiling, and much more!
Purplebricks bidder Lecram pulls out, claiming finances ‘worse than expected’ May 31, 2023 An 11th-hour rival bidder for Purplebricks has withdrawn its takeover approach, claiming the troubled estate agency’s financial condition is “significantly worse than expected”. It emerged last Friday that investor Lecram – the vehicle of property investor Adam Smith and a major shareholder in Purplebricks – was looking to muscle in with a proposal valuing the [...]
House sales drop by almost a third as market braces for slowdown in mortgage approvals May 31, 2023 The number of houses sold in the UK has fallen by almost a third as the market struggles to upkeep the momentum from a surge in sales at the start of spring. UK residential transactions fell 32 per cent in April with 67,220 homes sold, figures from HMRC show, 32 per cent lower than April [...]
Are you asking the right questions about your building’s energy usage? May 31, 2023 | Sponsored Businesses are finally asking the question – ‘how much energy are we using, and how can it be reduced?’. It seems the energy crisis, however you view it, did have one upside. I say ‘finally’ because I’ve been waiting a long time for this. Having spent 30 years in building services, selling energy saving control [...]