Britain’s renters are the real victims of this inflation and interest rate crunch April 25, 2023 People doubtless would’ve gasped at headlines last week about UK interest rates being on course for five per cent. Such a path looked implausible in March when Silicon Valley Bank’s collapse and Credit Suisse’s shotgun marriage to UBS sparked fears of a financial market meltdown. After those events, traders trimmed their expectations of how much more [...]
Average house price rises to £366,000 as tenants look to escape rental crisis April 24, 2023 UK house prices jumped again in March, driven higher by soaring rents pushing tenants to seek out their first home, but further interest rate hikes by the Bank of England could send a chill through the market, new research out today shows. The average price of a property coming to market in Britain hit £366k [...]
Leaseholders to gain new rights under FCA insurance reforms April 21, 2023 The Financial Conduct Authority (FCA) has proposed insurance reforms to protect leaseholders from paying extortionate sums for insurance. Under the new plans, leaseholders will be defined as “customers of buildings insurance” and insurance firms will be obliged to act in the leaseholders’ best interests. A leaseholder is someone who has bought the right to live [...]
Gove urges Blackrock and other investors to push cladding firms to pay for clean up costs April 20, 2023 Housing Secretary Michael Gove has warned investors that the cladding companies they invest in will face “severe consequences” if the firms don’t come forward to discuss a settlement deal with the government to fix buildings cladded with unsafe materials. In a letter to Blackrock, Vanguard, Fidelity Management and Research and other investors, Gove urged them [...]
Sadiq Khan slams private landlords profiteering from shoddy London homes April 18, 2023 The Mayor of London has slammed thousands of private landlords who are pocketing the rent and housing benefits from tenants living in housing riddled with mould and damp, branding it “a scandal”. The reaction came in response to New City Hall analysis which shows that across the country, landlords are collecting £9bn a year in [...]
Short seller hits back after Labour MP suggests Putin links April 15, 2023 Labour MP Liam Byrne (Left) suggested last month that short seller Fraser Perring had ties to the Kremlin.
Home REIT: Scandal-stricken firm extends ‘put up or shut up’ deadline for takeover April 13, 2023 Scandal-stricken social housing investor Home REIT has further delayed a ‘put up or shut up’ deadline for a takeover today as it mulls a bid from potential suitor Bluestar.
Liverpool Street redevelopment: Project secures support of key London business body April 12, 2023 A key business body has shown its support for the £1.5bn redevelopment of Liverpool Station as it calls for greater measures to streamline access to London’s financial hub. The City of London Chamber of Commerce said this morning that it has decided to back the redevelopment of Liverpool Street Station, which could potentially see new [...]
London flat sales beat pre-pandemic levels as property market stabilises April 12, 2023 Sales of London flats are up nearly 25 per cent on pre-pandemic levels, according to new data, in a sign that the City’s property market is starting stabilise. In March, flat sales in London were 23 per cent higher than in March 2019 – the first time monthly sales have been higher than in 2019 [...]
Prime London property rent soars as super rich snap up luxury pads April 7, 2023 The super rich in the capital are forking out an extra 1.4 per cent to rent in prime London areas, signalling a continued demand for luxury spaces in the capital. According to data by estate agent Savills, over the past three months, London’s wealthiest tenants are also on the hunt for smaller spaces to rent [...]