Sadiq Khan: London councils need more power to take back empty properties May 23, 2023 The Mayor of London has today called on the government to devolve powers to local councils so they can set higher rates of council tax on vacant properties. It comes as part of a bid to bring back empty flats and houses to the struggling London market. “It’s a scandal that so many much-needed homes [...]
Confirmed: Scandal-hit Home REIT calls in AEW and announces plans to offload properties May 23, 2023 Scandal-hit housing investor Home REIT has confirmed the appointment of property giant AEW as its new fund manager today and said it will now sell-off a slew of properties as it scrambles to stabilise its sprawling portfolio.
Shack up or ship out – why London’s rental market is no place for singles May 23, 2023 London’s notoriously cut-throat rental market has long lured couples into cohabitation in desperate efforts to save costs as opposed to it being the next natural step in the relationship. However, over the past 12 months a cocktail of shrinking supply and rising rents has made trying to find a home or even a room in [...]
Could living in the City of London become popular? May 20, 2023 The race is heating up for the smartest City of London living – Adam Bloodworth looks at the competition Crypts, former gladiatorial jousting grounds, dozens of gorgeous old pubs and even more shiny glass buildings: the City of London is an under-visited district rich with cultural things to do. We should frankly all spend more [...]
London office market now a race for best in class, says British Land May 17, 2023 The gap between the "best and the rest" is beginning to define the London office market, say property developers British Land this morning.
Renters to get more rights under sweeping new legislation after multiple delays May 17, 2023 A new bill that will bolster renters’ rights will be tabled in Parliament today after being delayed multiple times. The Renters’ Reform Bill will abolish “no-fault” evictions, which allow landlords to end tenancies without having to establish fault on the part of the tenant. The bill will also expand the Decent Homes Standard – which [...]
Center Parcs put up for sale with owner Brookfield eyeing a £5bn price tag May 15, 2023 Center Parcs’ owner Brookfield has reportedly put the UK holiday resort up for sale. The Toronto-based private equity firm is hoping to fetch between £4bn and £5bn for the company, the Financial Times reported today. Center Parcs operates six major holiday villages in the UK and Ireland, in counties including Wiltshire, Cumbria and Bedfordshire. The [...]
Banks set to ramp up lending as UK economy dodges recession May 15, 2023 Banks are expected to ramp up their lending this year as the UK economy dodges the gloomiest recession predictions and the housing markets shows signs of some revival, according to a panel of top economists. Total UK bank loans are now expected to rise 1.2 per cent this year, a net increase of £29bn, upgraded [...]
Homebuilders and contractors condemn Gove’s U-turn on scrapping leasehold May 11, 2023 Homebuilders and contractors have come out against Michael Gove’s decision to U-turn on scrapping leasehold. Despite previously promising to abolish what he defined as a “feudal” system of property ownership, the plans have now been dropped by the levelling up secretary. Through leasehold, people buy the right to live in their flat, but not the [...]
Mortgages: How the BoE’s twelfth consecutive rate rise will affect homeowners May 11, 2023 Homeowners on tracker mortgages could see their annual bills increase by £5,008 a year following the Bank of England’s twelfth consecutive rate rise on Thursday, though analysts have said the latest rise will not have a substantial impact on the housing market. The monetary policy committee (MPC) voted 7-2 in favour of raising borrowing costs [...]