London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Cost to rent a home jumps largest-ever amount in past year, says statistics body June 22, 2022 The cost to rent a home has increased by the largest-ever amount over the past 12-months, according to the latest figures from the national statistics body. Average rental prices paid by tenants in the UK has jumped by 2.8 per cent in the year to May, the Office for National Statistics revealed this morning, marking [...]
Government admits most Brits will not benefit from Boris Johnson’s ‘benefits to bricks’ housing plans June 22, 2022 Most Brits will not be able to make use of Boris Johnson’s “benefits to bricks” scheme to allow welfare payments to secure mortgages, the government has admitted. Earlier this month, the Prime Minister announced a plan to enable people who are in work but also on housing benefit to use welfare payments towards a mortgage, [...]
Berkeley Group profits rise to over £550m after ‘exceptionally volatile period’ June 22, 2022 The boss of property developer Berkeley Group hailed “extraordinary” progress made in the past year today as the firm posted a 6 per cent rise in pre-tax profits for the full year to April.
Bewildered: M&S hits out at Gove over public inquiry over iconic Oxford St flagship store redevelopment June 21, 2022 Marks and Spencer has slammed the housing minister’s decision to hold a public inquiry over a redevelopment plan of its Marble Arch store. The supermarket said it was “bewildered and disappointed” that Michael Gove had chosen to call in its plans to bulldoze the Art Deco flagship store on Oxford St. A public inquiry will [...]
Property market is hot but cooling amid cocktail of low stock, high inflation and uncertainty June 21, 2022 The UK’s property market is still going strong, despite fears that rising inflation and the cost of living crisis will choke growth. The number of properties changing hands fell again last month in comparison with its pandemic heights last year. However, with some 100,870 homes sold in May, the latest government data has found a [...]
New acquisitions to help Schroder European Real Estate Investment Trust weather economic storm June 21, 2022 Dealmaking and buyouts will help Schroder European Real Estate Investment Trust weather the geopolitical and economic storm brewing over the continent, one fund manager has said today. “New acquisitions will provide further diversification and help maintain the attractive dividend,” fund manager Jeff O’Dwyer said in a statement this morning, as the firm seeks “sustainable rental [...]
Housebuilders tank on stock market with investors ‘nervous’ about mortgage rates June 20, 2022 Housebuilders lead the London Stock Exchange’s top fallers today, after the latest house price data cautioned the tightening of purse strings amid a cost of living crisis. Barratt Developments and Berkeley Group led the descent, falling a little over four per cent each. While Persimmon dove 3.7 per cent, Ashtead slipped 2.8 per cent and [...]
House price growth slows with real estate sector warning of affordability crunch for buyers June 20, 2022 The pace of house price growth slowed in May, with potential buyers’ tightening budgets set to slow growth further in the months ahead. According to today’s Rightmove’s house price index, buyer demand for available properties was down eight per cent last month, versus April. Even so, the price of property smashed another record, for the [...]
Indignant brokers fiercely dismiss Martin Lewis’ notion many mortgages are ‘a ticking time bomb’ June 19, 2022 The well-known personal finance guru Martin Lewis recently warned that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock in cheap mortgage rates soon before monthly payments become unaffordable. Lewis’ comments come as the cost of living for most Brits is climbing fast, with energy bills going up by an [...]
Run on equity release: Cash tied up in properties fund £1 in every £90 spent by retired Brits June 18, 2022 A new analysis published this week showed that equity release finances around £1 in every £90 spent by retired Brits. Total retirement spending funded by equity release could top £4bn this year and £5bn in 2025, according to modelling by the Centre for Economics and Business Research (Cebr), as homeowners increasingly look to property wealth [...]