Average mortgage repayments approaching 33 per cent of monthly income akin to 2008 financial crash levels May 25, 2022 Homeowners are spending more to live in their house than at any point in the last 15 years, with mortgage repayments equalling almost 33 per cent of monthly income. The cost of living crisis and increase in interest rates has put renewed pressure on property-owners, with house prices soaring and the cost of repayments nearing [...]
Property passports: Calls for compliance tracking rise to combat cowboy landlords May 25, 2022 Two property associations have urged for better tracking of safety regulations today, in a bid to clampdown on cowboy landlords and unsafe housing. The Lettings Industry Council (TLIC) has called for Unique Property Reference Numbers (UPRN) to be embedded within the upcoming Renter’s Reform Bill, so that property safety records can be grouped within a portal [...]
One in five Londoners look to downsize family home to fund retirement May 24, 2022 Almost one in five Londoners are planning to downsize their home to help fund their retirement, according to a new study, as the cost-of-living vacuum shakes down savings. Homeowners in London lead the way in the plan to swap their family home for a smaller property and stow away the windfall cash for the future, [...]
House buying falls ‘dramatically’ as market feels absence of stamp duty holiday May 24, 2022 UK property transactions are “dramatically lower” than a year ago, as the market feels the absence of the pandemic-era stamp duty holiday. Residential deals in April plunged nearly 14 per cent in comparison with 12-months ago, and are 10.5 per cent lower than in March, according to the government’s latest data. Meanwhile, non-residential transactions, which [...]
London is back on the global property radar as foreign home buyers shrug off Brexit and stamp duty changes May 24, 2022 International buyers are returning to the London property market after three consecutive years of declining market activity, brought about by Brexit, changes to stamp duty and, of course, the pandemic. Since last year, international interest has started to return to the capital, with transactions climbing by 0.6 per cent. At the same time, the market [...]
Logistics boom: Warehouse investment trust launches on London’s main market May 24, 2022 Warehouse Real Estate Investment Trust (REIT) is launching onto London’s main market, it announced today, after five years on the junior market. The logistics real estate heavyweight is expected to have access to a larger pool of capital and investors as a result, which it hopes will boost its liquidity and recognition. Warehouse REIT, which [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
Grosvenor: Central London valuations ‘subdued’ amid Covid side effects May 23, 2022 Property investment firm Grosvenor is back in the black after better fortunes for its 300-acre estate in Mayfair and Belgravia. Owned by the Duke of Westminster, the multibillion-pound portfolio swung back into profit with a pre-tax profit of £327.5m, after posting a £322.8m loss in 2020. The Liverpool ONE shopping centre owner swung back into [...]
Property Special: Will the Bojo mortgage fill the Help to Buy hole? May 23, 2022 The so-called Mortgage Guarantee Scheme (MGS), commonly known as the Bojo Mortgage, is a more market encompassing version of the Help to Buy scheme, allowing lenders the option to purchase a guarantee on mortgage loans for those with less than a 10 per cent deposit. Launched in April of last year, it can be utilised [...]
Landlords being pushed to innovate by ‘Instagrammable’ build-to-rent schemes with furnishing and socialising space May 23, 2022 Landlords are being pushed in to more innovation and providing better furnished homes because of modern renters. Younger people are looking for professionally managed properties to live in, as part of a build-to-rent (BTR) schemes, which are created specifically for the purpose of renting. The majority of people renting are still doing so through landlords [...]