Wandsworth sees the highest number of £1m property transactions as buyers desire space January 5, 2022 The leafy borough of Wandsworth has been named as the capital’s hotspot for property transactions of £1m over the last year. The south-west London borough accounted for 11 per cent of high end transactions over the last year, out of a total 6,312 transactions for between £1m and £3m across London. Kensington and Chelsea and [...]
Rightmove reports busiest ever Christmas for home movers January 5, 2022 It was the busiest ever Christmas for those wanting to move home, with buyer demand soaring compared to the same period last year. Property platform Rightmove said buyer demand was up 23 per cent compared to last Christmas, when the pandemic discouraged many movers. The website recorded its highest ever number of new sellers on [...]
Boost for Global Britain as UK exporters enjoy £620m surge in post-Brexit trade with South Korea January 5, 2022 A “huge” demand for British products and services in South Korea is boosting UK companies exports to the east Asian country, according to the government. International trade secretary Anne-Marie Trevelyan said that British firms saw a £620m surge in exports to South Korea last year, a jump of nine per cent. Trade between the UK [...]
Homebuilder Glenveagh posts rising revenue while warning of labour shortage challenges January 5, 2022 Irish homebuilder Glenveagh Properties has reported rising revenue, up more than a third compared to pre-pandemic levels, as it warns of labour challenges ahead. The residential developer posted a total revenue of €476m for the year ended 31 December 2021, a 64 per cent jump on 2020’s figure. Revenue was also up 36 per cent [...]
From price inflation and Brexit rows to Evergrande and Biden v Putin: Here are the market risks to watch this year January 4, 2022 The world is a pretty turbulent and unpredictable place at the moment, with Covid variants not making life easier. From tensions between Russia and the US over Ukraine’s NATO membership to Brexit conflicts and China’s Evergrande property scandal, 2022 is set to become everything but dull. So what developments and issues could disrupt or disturb [...]
Mortgage approvals flatline in wake of stamp duty holiday January 4, 2022 The number of mortgages approved in November last year exceeded expectations, despite dropping slightly compared to the previous month. Some 66,964 mortgages were approved in November 2021, according to fresh data published by the Bank of England this morning. Although November was down on October’s figure of 67,103 the number of approvals exceeded real estate [...]
London’s billionaire home buyers market doubled last year January 4, 2022 The London market for multi-millionaire and billionaire home buyers doubled during 2021, with Russian and Chinese buyers set to inject new energy into the market this year. According to a survey from Beauchamp Estates, in 2021 there were 32 sales for London homes with price tags topping £15m, compared to 17 sales in 2020. Over [...]
The top colours to paint your home in 2022 January 3, 2022 Every autumn household paint brands announce their “colour of the year”. The home improvement equivalent to groundhog day, it has become a much-awaited ritual, and the brands’ respective decision-making processes are rather opaque: some determine their colour through surveys, others via mysterious searches into the ether. But what this year’s colours bring is a sense [...]
First-time buyers to borrow more and for longer this year as wage growth will fail to keep pace January 1, 2022 First-time buyers face the biggest financial hurdle to homeownership causing them to borrow more in 2022. However, it is existing homebuyers that are now more stretched when it comes to their earnings and the amount they are required to borrow. Analysing 2021 data from the Office for National Statistics, shared with City A.M. by estate [...]
Explosion in ‘London leavers’ buying up properties in the countryside with St Albans top destination for first-time buyers December 31, 2021 More properties outside the city were purchased by London-based home buyers this year than in any year since 2007. First-time buyers made up nearly a quarter (24 of Londoners buying outside the capital in 2021, according to the calculations from Hamptons. The estate agent estimates that, in total, buyers based in London purchased more than [...]