London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
UK house prices continue to soar in biggest annual jump since 2003 September 14, 2022 UK house prices grew 15.5 per cent to £292,000 in the year to July, according to official figures – the highest annual inflation rate since 2003. The average cost of a home in the UK has continued to spiral as demand outstrips supply. In just 12-months, property prices have grown £39,000 higher, several thousand pounds [...]
Redrow revenue hits new record as housebuilder continues London exit September 14, 2022 Housebuilder Redrow’s revenue has climbed above pre-Covid-19 levels, as it continues its withdrawal from the London market. Revenue grew 10 per cent to a record £2.14bn in the year to 3 July. While profit before tax hit £246m, down from the £314m, it reported a year prior due to one-time fire safety costs of £164m. [...]
Forget tech, hospitality or transport: These are Britain’s most profitable sectors September 13, 2022 At the beginning of this year, the UK counted around 5.6 million private sector businesses. Described as the backbone of the UK’s economy, SMEs account for 99.9 per cent of all businesses in Britain. With house prices currently at a record high, it’s no surprise that business and property services are amongst the sectors making the most profit in the [...]
Most UK homebuyers and owners are locking in mortgage rates as rises loom September 13, 2022 The majority of homebuyers and owners are locking in their mortgage rates to escape looming rate rises later this year, according to the latest data. Most new buyers – some 95.5 per cent – are taking out fixed rate mortgages, the Financial Conduct Authority (FCA) found, while the proportion of mortgaged homeowners fixing their rates [...]
Supported housing firm Independent Living to raise £150m in London IPO September 12, 2022 Real estate investment trust Independent Living is set to float on the London Stock Exchange, in a bid to raise £150m. The company, which seeks to address the shortage of high-quality supported housing, is currently undergoing an acquisitions spree to build up its initial portfolio of so-called “target assets”, the company announced today. Potential acquisition [...]
Exclusive: WeWork introduces discounts to drive office workers back into London September 8, 2022 Flexible workspace provider WeWork has launched new incentives for London businesses to entice workers back into the city. The New York-headquartered company is working with BusinessLDN, with members of the advocacy group being offered access to new discounts. Businesses are able to access 50 per cent off WeWork’s All Access monthly membership fees for three [...]
Homebuyer enquires hit their lowest since 2020 as record low stock levels drive up prices September 8, 2022 The Royal institution of Chartered Surveyors (RICS) has today warned that the main driver behind price growth is record low stock levels. Homebuyer enquiries have fallen sharply – hitting their lowest since April 2020. Meanwhile, sales expectations are the ”most downbeat” since RICS began surveying the market in 2012. Senior RICS economist, Tarrant Parsons, said [...]
Housebuilder Vistry exceeds expectations after bidding on Countryside September 8, 2022 Vistry, one of the biggest housebuilders in the UK, has bagged £1.64bn in forward sales so far this year, as it seeks to ride out the current economic storm as a construction powerhouse with Countryside Partnerships. House completions rose five per cent to 5,409 in the six months to 30 June. Meanwhile, revenue inched three [...]
Cairn Homes bosses hike revenue forecast to £520m following record home sales September 8, 2022 Irish housebuilder Cairn Homes has sold a record number of homes in the first half of the year, as Ireland’s population grows. The FTSE-listed company has lifted its forecast for the rent of the year, with bosses anticipating €760m (£660.7m) in forward sales, a more than €600m (£521.6m) revenue and 1,500 closed home sales. The [...]
Property giant warns about growing fears of rapid slowdown in ‘a market teetering on the brink’ September 7, 2022 One of the UK’s biggest property groups has urged the new Prime Minister to address Britain’s housing crisis calling for “radical change”. The National Association of Property Buyers (NAPB) told City A.M. there is now growing fears of a rapid slowdown in a market which is “teetering on the brink”. And the NAPB added that [...]