Average UK property almost £30,000 more expensive than a year ago as house prices accelerate March 2, 2022 The average UK house price has topped £260,000 for first time, after surging by nearly £30,000 over the past 12 months. The typical property value reached £260,230 in February, Nationwide Building Society said. In cash terms, the average house price in February was £29,162 higher than a year earlier, the biggest annual cash increase the [...]
Mortgage approvals highest since the summer as cost of living crunch looms March 1, 2022 Mortgage approvals for house purchases lifted in January, in another monthly boost for the housing market. Figures released from the Bank of England on Tuesday morning show some 73,922 mortgage approvals during last month. This is the highest approval number since July 2021, when 75,900 mortgages were given the green light. It also represents the [...]
UK home to fourth largest rental market trailing US, Germany and Japan March 1, 2022 When it comes to the total volume of privately rented properties, the UK ranks fourth in the global rankings, with just the United States, Germany and Japan home to more rental homes, according to new research shared with City A.M. this morning. Across the UK there are estimated to be over 29.5m homes within the [...]
Second chances: Ex-offenders could help solve recruitment crisis February 28, 2022 “I always wanted to be a drug dealer. Getting a job would have been strange to me,” Liam Meredith, an ex-offender who now runs his own catering business, says. Many young men like Meredith struggle to break a cycle of offending even after they leave prison, due to tumultuous home lives. For men like Meredith, [...]
Aviva and Allianz partner on £500m City office and retail development February 28, 2022 Aviva Investors and Allianz Real Estate have entered a partnership for a massive ongoing development in the heart of the City of London. The joint venture, 1 Liverpool Street and 101 Moorgate with a gross development value of around £500m, are central to the Crossrail development site in the Square Mile. “London is one of the [...]
Real estate giant JLL reports record revenue for fourth quarter February 28, 2022 Real estate giant JLL has reported record revenue and fee revenue for the fourth quarter. In results published on Monday, the Chicago-based firm reported record revenue of $5.9bn and fee revenue of $2.8bn for the quarter. Revenue shot up 23 per cent while fee revenue jumped 42 per cent. The real estate and investment management [...]
Hackney’s London Fields Brewery brought to the market after Carlsberg Marston’s close taproom February 28, 2022 East London brewery London Fields Brewery has been brought to the market by property consultancy Gerald Eve. Situated under Hackney’s railway arches the brewery was closed just four years after Carlsberg Marston’s Brewing Company snapped it up. The brewing titan’s CEO Paul Davies said at the end of last year the firm had “taken the [...]
Saturday Sitdown: Mortgage guru Colin Bell on why Brits are ready for 50 year fixed rates February 26, 2022 Following the Bank of England’s recent interest rate rise and all the implications it has for the property and mortgage market, one firm is offering loans at a 30 year fixed rate, with plans to offer 40 and 50 year fixes in the near future. Sold as a massive lifestyle enabler and gives people much [...]
Take your workspace to the next level in Whitechapel February 25, 2022 As we tentatively return to something approaching ‘normal’ following the pandemic, many businesses find themselves in a tricky situation. Working from home full-time is gladly receding into the rear-view mirror but the old, static office model now seems a little antiquated. Modern workers require the flexibility of hybrid working, and office spaces need to be [...]
London Cancer Hub opens new collaboration space for life-science firms February 24, 2022 The London Cancer Hub in Sutton has opened a new incubator and collaboration space for life-science companies who work on cancer-related projects, CityA.M. was exclusively told. The Innovation Gateway will provide laboratory, office and collaboration facilities at the south London hub. The space hopes to become a global leader for cancer research, treatment and commercial [...]