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 [...]
Young people are coming back to London but population is still lower than pre-pandemic peak February 15, 2022 Young people, who left London in the midst of the pandemic, are coming back to the UK’s capital city, according to research from the Greater London Authority (GLA). Analysis by the GLA suggests the number of people aged 18-29 dropped sharply at the start of the pandemic, as thousands of young people left London to [...]
Government to crack down on developers trying to dodge cladding contributions with new powers for courts February 14, 2022 The government has announced amendments to its building safety bill which will allow cladding companies to be sued for defective products. The amendments also confirm the government’s intentions to block firms from the market if they do not financially contribute to remediations on buildings with unsafe cladding. The department for levelling up, housing and communities [...]
‘Culture change’ on London building fire safety needed as Mayor launches guidance for developers February 14, 2022 The Mayor of London has launched a public consultation on draft guidance for fire safety standards for new developments. Sadiq Khan has echoed campaigners’ criticisms of existing national building regulations, dubbing them as unfit for purpose. He said the pace of reforms has not been quick enough. The draft Fire Safety London Plan guidance sets [...]
March revealed as best month to sell property due to annual surge in buyer interest February 14, 2022 March is the best month of the year to sell UK homes due to an annual surge in buyer interest and fierce compeition for properties, new data has revealed.