Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]
Mayor of London reiterates calls for two year rent freeze amid ‘crisis’ facing capital’s renters November 14, 2022 The Mayor of London has reiterated calls for an immediate rent freeze in the capital as London average rental prices are more than double that in other UK areas. Sadiq Khan said he would host an emergency summit over the challenges facing renters in the city, echoing previous calls for a two-year rent freeze. Tenants [...]
Purplebricks shareholder seeks to oust chairman once again November 9, 2022 Purplebricks shareholder Lecram Holdings has once again sought to oust the online estate agents’ chairman following months of lagging growth. The digital agent confirmed today that it had received an order from Lecram to host a general meeting, in which shareholders will be asked to consider removing chairman Paul Pindar as a director of the [...]
Taylor Wimpey on track for £922m full-year profit despite increasing cancellations November 9, 2022 Taylor Wimpey remains on track to deliver a full-year operating profit of around £922m despite reporting an increase in cancellation rates. In the last six months, the home builder reported a net private sales rate of 0.51 homes per outlet per week – down 44 per cent on last year’s levels. Cancellation rates also rose [...]
Lenders need to ‘step up’ to support customers, says FCA chief November 7, 2022 The City watchdog said that lenders need to “step up” to support their customers today as they are battered by soaring mortgage rates and rising prices this year.
Inside House of Campari: Brexit vote of confidence in London as Italian spirits giant moves to Soho November 7, 2022 Campari Group, the producer of spirits brands in the UK such as Aperol, Wray & Nephew, Appleton Estate Jamaica Rum as well as Campari, has opened a new regional headquarters in the heart of the capital. Named “The House of Campari”, the new London base is situated in Great Portland Street, just off Oxford Street. [...]
Home sellers in for a shock as house prices drop across UK and overall growth slows November 7, 2022 House prices across Britain recorded the biggest monthly fall in October since early 2021, according to an index out this a.m. The average property value fell by 0.4 per cent, marking the third month-on-month drop seen in the past four months, Halifax said. The latest month-on-month decrease follows monthly falls of 0.1 per cent in [...]
Avoiding a residential permacrisis: House-hunters better buying today than waiting for tomorrow November 4, 2022 The Bank of England has just raised interest rates to three per cent, the highest in 14 years. And this might not be the end of it. Newspapers rightly point to the challenges of such rapidly rising borrowing costs for those looking to buy or re-mortgage at the same time as so many people are [...]
Life Science property trust to trade up AIM for London’s main market November 3, 2022 Life Sciences Real Estate Investment Trust is set to trade up the AIM to list on London’s main market. Bosses at the trust said the move is in the “best interests” of the company and shareholders, after the pandemic threw life sciences into the top ranks of investor and government interest. It means the [...]
Savills warns of ‘acute’ house price plunges in London next year November 3, 2022 Savills, one of the biggest estate agents in the UK, has warned of an “acute” drop in house price value in London next year. A dreaded combination of higher mortgage rates and the cost of living crisis will fuel the price drop, the company said. The average cost of homes in the outer prime London [...]