Swelling of ‘generation rent’ means many won’t be homeowners until 40s, 50s or even pension age June 8, 2022 Almost 15 per cent of renters think they may be picking up their pension before becoming homeowners, as the cost of living crisis continues to eat into savings. With so-called ‘Generation Rent’ continuing to be impacted by soaring house prices that prevents them from getting onto the property ladder, a new survey commissioned for NatWest [...]
ESG is moving to the heart of property portfolios June 7, 2022 | Sponsored The Covid-19 pandemic has accelerated the need to transform the spaces where we live, work and socialise. And it’s clear that commercial and residential developers and those working in property finance are becoming keenly focused on sustainability and affordability. Whilst environmental, social and governance (ESG) certainly isn’t new, its principles are vital and it’s imperative [...]
Nowhere to go: One in three Brits fear ending up homeless or ‘sofa surfing’ within next five years June 7, 2022 Nearly one in three Brits are concerned they may end up homeless in the next five years due to housing costs. Some 31 per cent of people polled for Amnesty International UK said they are worried about ending up sofa-surfing or in temporary accommodation. It likened navigating England’s housing system to undertaking a “gruelling obstacle [...]
Chancerygate to plot £32m new industrial site near London June 6, 2022 One of the UK’s largest industrial developers Chancerygate has lined up a string of sites in Leatherhead for a £32m development, as the logistics sector looks set to become the country’s largest employer. A raft of property firms, including British Land, LondonMetric and BMO Commercial Property Trust have turned their focus to logistics real estate [...]
City veteran John Allan prepares to step down as Barratt chair June 4, 2022 Titan housebuilder Barratt is planning to begin a search for a new chairman, with City grandee John Allan to step down. According to reports by Sky News, Allan, who also chairs the country’s largest supermarket, Tesco, is readying to hand over the reins of the construction giant. Barratt has reportedly asked headhunters at Russell Reynolds [...]
Playtech’s billionaire founder to sell Camden Market estate for £1.5bn June 3, 2022 Popular tourist destination Camden Market is reportedly undergoing a quiet sale process, which could fetch its billionaire owner around £1.3bn. While Israeli magnate and Playtech founder Teddy Sagi is hoping to bag £1.5bn for the 16-acre estate – which includes three markets – he has not put a firm price tag on the deal, the [...]
TR Property makes ‘sizeable gains’ from private equity real estate takeovers June 1, 2022 TR Property Investment Trust has been given a leg up thanks to the stream of private equity investment being funnelled into the European real estate market over the past year. Chairman of the London-listed firm David Watson said today that private equity investment into real estate “continues to be elevated” and that the Trust has [...]
House prices grow for tenth month in a row, but market continues to cool June 1, 2022 House prices have growth for the tenth month in a row, according to the latest figures, though costs are continuing to slow in their steamroll. The average price of a home in the UK grew 11.2 per cent to £269,914 in May, slowing slightly from the more than 12 per cent growth reported in April, [...]
UK cost of living crisis to tame runaway house prices, says Savills May 31, 2022 The UK’s cost of living crisis is expected to stunt house price growth for the rest of the year, according to estate agents Savills, taming property costs which continue to hit record levels. Affordability pressures will leave house prices no choice but to slow in their ascent, as property deals and mortgage approvals fall in [...]
Mortgage approvals fall following interest rate rises May 31, 2022 Mortgage approvals have fallen to the lowest level seen since the peak of the UK’s house-buying frenzy in June 2020, according to official data today. Brits were approved 66,000 mortgages in April, down from 69,500 in March, data from the Bank of England has revealed. This is slightly below the pre-pandemic average of 66,700, [...]