Home transactions settle back to pre-Covid levels with ‘best sellers’ market in decades’ February 22, 2022 More than 85,000 homes changed hands in January, with property transactions up on pre-Covid averages, HMRC data has revealed. Official figures show that the provisional non-seasonally adjusted estimate of UK residential transactions for January 2022 was 85,520. This was 22.2 per cent lower than December 2021. There were seven per cent more transactions than the [...]
Stock squeeze hindering buyers’ house hunts February 21, 2022 Nine in ten buyers have said a lack of houses on the market is hampering their property hunt. Buyers searching at the top end of the market have felt the impact of the stock crunch the most. Some 94 per cent of buyers with a budget of £1m and above reporting a lack of choice, [...]
Canary Wharf rolls out flexible offices after pandemic shakes up work habits February 19, 2022 London landlord the Canary Wharf Group is planning to roll out a flexible office service for clients, as the city continues to adapt to the pandemic shakeup to work patterns.
London house hunters face fierce bidding wars as property market set to become hyper-competitive February 19, 2022 House hunters wanting to buy a property in London this year are likely to face more competitive market conditions than in 2021. Since January, 51 per cent more buyers have entered the market and 35 per cent more property viewings took place compared to January last year, according to data from estate agency Chestertons. This [...]
9m bedrooms have vanished as nearly half of all homeowners change property to suit post-pandemic needs February 17, 2022 Close to nine million bedrooms have been “lost” as people have adapted their homes during the coronavirus pandemic, according to a property website. Four in 10 (41%) homeowners have changed their property to better suit their needs, Zoopla found. Among those making changes, more than half (53%) have entirely repurposed at least one bedroom while [...]
Housebuilders facing extra £3.2bn in construction costs this year as prices spiral February 16, 2022 UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
Average house price tops £274,000 as pace of growth expected to slow February 16, 2022 House prices climbed 0.8 per cent between November and December of last year and 10.8 per cent year on year. According to the latest UK house price index from the Office for National Statistics, the average price of a property in the UK was £274,712. However, real estate experts said the high rate of growth would [...]
Primary Healthcare Properties boosts dividend after rental income rises February 16, 2022 Healthcare property investor Primary Healthcare Properties has lifted its dividend after growth in net rental income over the past year. In results for the year ended 31 December 2021, the firm posted income of £136.7m, up 4.2 per cent to £131.2m. It raised its dividend to 6.2p a share from 5.8p. Harry Hyman, chief executive, said [...]
Frenzy for homes in prime London as stock levels fall dramatically February 16, 2022 The number of rental homes available in the priciest parts of London are significantly down in comparison to last year, thanks to frenzied demand. According to research from LonRes, rental stock was 67 per cent down in January compared to the year before. Similarly, the number of homes for sale was down 16 per cent [...]
Leaseholders on buildings below 11m call for government support to take off unsafe cladding February 15, 2022 Leaseholders of buildings with unsafe cladding but below 11m have called on the government to extend support to smaller blocks. On Monday, the government set out amendments to its building safety bill. Developers will be blocked from the market if they do not cough up cash for a remediations fund worth billions. However, the funding [...]