UK construction headed for a drastic slowdown, warns trade association May 3, 2022 Construction activity is headed for a drastic slowdown, according to a top UK trade association, as geopolitical pressures weigh on British builders. Inflationary headwinds, labour shortages and supply chain disruptions have scuppered growth in the sector, with construction forecast to eek out 2.8 per cent growth in output – a stretch away from the 4.3 [...]
Boris Johnson mulls a new Right to Buy scheme as housebuilding hits the curb May 2, 2022 Prime minister Boris Johnson is reportedly mullinh plans to bring in a new Right to Buy scheme, inspired by Margaret Thatcher, amid reports housebuilding has hit the curb. The plans seek to target “generation rent”, those whose hopes of owning a home have fallen increasingly out of reach despite being ‘of age’ to buy. [...]
Prime London house prices skyrocket by 114 per cent as homebuyers flock back to the city April 30, 2022 While prime London property prices have remained largely flat on a year on year basis, life is starting to return to the capital’s top tier, with some postcodes seeing average sale prices climb by as much as 114 per cent. However, not everywhere has fared so well with some postcodes seeing a reduction in average [...]
Businesses splash £5bn on London offices as overseas firms eye UK capital April 28, 2022 Businesses have splashed £5bn on office assets in London in the first few months of this year – the highest level of investment since 2018, commercial real estate services firm Avison Young has revealed. The figure is more than double the amount spent in the same quarter last year, buoyed by recent high-value deals. The [...]
Hidden expenses: Londoners shoulder extra costs in all-inclusive rent bills April 28, 2022 Londoners are unknowingly shouldering extra costs by opting for more convenient bills-inclusive rental arrangements, new data has found, as landlords seek to buffer spiralling energy prices. The hidden cost of all-inclusive rent could be as much as £700 for those renting in the capital, according to London rental platform Rentd. The average cost of renting [...]
Exclusive: Millions of London tenants should brace themselves for rent increase of £1,000+ this year April 27, 2022 Millions of Londoners who currently rent in the capital face an increase in their housing costs of more than £1k this year. As energy bills climb and the cost of living crisis rages, London remains by far the least affordable region of the UK rental market, with the average tenant currently paying £21,140 per year. [...]
Overseas executives flock back to London as the relocations market explodes April 27, 2022 International business executives are flocking back to London, according to new data shared exclusively with City A.M. today, after the pandemic pushed many to return overseas. The return of bankers, investors and the sought have driven demand in the prime central London relocations market up 150 per cent in the first three months of this [...]
West End sees fewer Asian tourists amid Covid-19 restrictions and EU visa appeal April 27, 2022 London’s West End has seen fewer Asian tourists amid sustained Covid-19 travel restrictions in China and mainland Europe’s visa appeal – however US tourists are flooding back. While footfall and tourism levels are recovering comfortably after a gloomy pandemic period, the West End is seeing “fewer long haul Asian visitors at the moment”, with many [...]
Persimmon on track to open 75 new outlets as it looks to take advantage of growing house prices April 27, 2022 Persimmon, the UK’s second largest housebuilders, is on track to open around 75 new outlets during the first half of 2022, having already opened over half by the end of March 2022. The housebuilder now has around 300 active outlets across the UK, as it looks to snap up more of the market and strengthen [...]
Taylor Wimpey bats off inflation concerns as home prices spiral in the housebuilder’s favour April 26, 2022 Taylor Wimpey has continued to bat off concerns surrounding inflationary headwinds, as the housebuilder agrees to spend another £80m on fixing its fire-risk cladding. The FTSE 100 firm signed the government’s fire safety pledge earlier this month, which means it must fix all cladding issues on buildings over 11 metres, which were build in the [...]