Record revenue for Belvoir with 25 years of profit growth April 4, 2022 Estate agency Belvoir has posted record revenue, hitting 25 years of unbroken profit growth. The firm revealed a 39 per cent increase in profit before tax to £9.3m, sending shares up five per cent on Monday afternoon. Group revenue hit £29.6m, up 37 per cent, versus £21.7m in 2020. Last year was the “busiest year [...]
Exclusive: The boss of London’s oldest office provider returns from retirement to drive the City’s bounce-back April 4, 2022 As we passed the two-year anniversary of the first lockdown last month, City A.M. sits down with the CEO of London’s oldest office provider, who came out of retirement to drive the business’ post-Covid recovery. Shedding light on how the business and City has suffered, Argyll CEO John Drover reveals to this paper how his [...]
Prime London rent hits double-digit growth for first time since 2010 April 4, 2022 The priciest areas to rent in London have seen double-digit annual rental growth for the first time in more than a decade. According to figures released by Savills, growth in prime London hit 11.1 per cent in the first quarter of this year, against a backdrop of low stock levels. It is the first time [...]
Value of serviced office providers’ portfolios drops £1.4bn after Covid April 4, 2022 Goliaths in the office space sector have taken their first hit as the value of their property portfolios has dropped. The value of the largest serviced office providers’ estates have fallen to £24.3bn from £25.7bn in the previous year, according to law firm Boodle Hatfield. Since 2017, the value of office space providers has leaped [...]
Ministers called to introduce ‘safety net’ for homeowners following hike in debt costs April 3, 2022 The UK Government was called on to bring a “safety net” for homeowners following a hike in household debt costs. The Lib Dems said extra help needs to be given to first-time buyers, as forecasts from the Office for Budget Responsibility showed household debt servicing costs will increase by £33bn in two years. Under the [...]
Home buyer demand bouncing back across UK with Blackpool, Swindon and Newcastle leading the pack April 2, 2022 Zoopla this morning said the supply of homes being put up for sale generally is building momentum, although the overall choice of properties remains constrained. Blackpool and Swindon are among the urban areas seeing a bounceback in home buyer activity, according to the property website. The stock of homes available to buy is still 42 [...]
Londoners more worried about housing and work situation than those in any other region of the UK April 1, 2022 Those living in London are more worried about what their work and housing situation will look like when they’re older, than those living in any other region of the UK. Although Londoners are confident in their health and believe they have enough savings to last them into old age, those living in London have significant [...]
Shock ruling: London property bigwig sent to jail after refusing to grant wife Jewish religious divorce April 1, 2022 A London property tycoon was sent to 18 months in jail this afternoon for engaging in coercive or controlling behaviour after failing to grant his wife a Jewish religious divorce. Alan Moher, 57, and Caroline Moher, who have three children together, separated in 2016 and divorced in the Family Court. But Moher did not give [...]
Buyers set hearts on Balham as stock gap hits unseen levels April 1, 2022 South London’s Balham has seen the biggest surge in buyer competition out of London boroughs this year. Buyer demand has soared 113 per cent over the past year, with home movers keen to snap up homes with space and gardens, Rightmove said. With Wandsworth and Tooting Bec commons around the corner, buyers are keen to [...]
House price growth hits highest level since 2004 with record average of £265.3k March 31, 2022 Annual house price growth has increased to 14.3 per cent, from 12.6 per cent in February. According to Nationwide’s house price index, this was the strongest pace since November 2004. The price tag of the average home hit a new record of £265,312, an increase of more than £33,000 in the past year. Prices have [...]