Landlords hiking rents at fastest pace since 2008 as demand for housing in London shoots up November 16, 2021 Private sector rents in September were 4.6 per cent higher than a year earlier at £968 per month on average, marking the strongest growth in 13 years. The fastest rice since 2008 comes as strong demand outstrips supply, according to an index. Excluding London, rents across the UK were up by 6 per cent annually, [...]
Home values dropping: Average house price falls by more than £2,000 November 15, 2021 New figures show this morning that the average price of a home coming to market dipped by more than £2,000 so far this month. Across Britain, the average price tag now stands at £342,401 – £2,044, or 0.6 per cent, less than in October – as sellers seek to attract buyers’ attention ahead of the [...]
Hot property: Covid ‘race for space’ has homemover numbers at a record high November 15, 2021 Whether it was shifting to the countryside, out to the suburbs or back into the post-lockdown bustle of a city centre, removals vans have been criss-crossing the country to keep up with a boom in the number of homemovers. Data out this morning from Halifax confirms the number of homemovers hit a record high in [...]
Focus On: Get yourself into a Pickle in booming Bermondsey November 12, 2021 Located in the south-easterly London Borough of Southwark, Bermondsey has a fascinating past. Back in the 1800s it was known for its industrial plants for processing animal hides (hence some road names such as Tanner Street and Leathermarket), as well as slums for local workers and the notorious docks that inspired scenes in Dickensian novels [...]
Price of buying a home climbs three times as fast as building costs November 12, 2021 The cost of buying a Redrow home has increased nearly three times as fast as the cost of building one despite squeezes on supply chains, the company revealed today. Redrow said it was working with suppliers to make sure that it could keep building at the same pace as in the past, but that pressures [...]
Landsec and Blackstone ink near £200m London property deal November 12, 2021 Land Securities Group has inked a nearly £200m deal with Blackstone to sell off its London property Harbour Exchange, a data centre which hosts offices. The £196.5m move forms part of Land Securities’ wider portfolio reshuffle plans – after the pandemic diluted the valuations of some retail and office spaces. “Through this disposal, we [...]
Wealthy foreign investors push pedal on UK property purchases November 12, 2021 Foreign ownership of homes in England and Wales has reportedly nearly tripled over the past decade, as wealthy investors eye the UK’s coveted property portfolio. Nearly 250,000 homes in England and Wales have been registered with overseas-based buyers, a figure which has swelled from fewer than 88,000 homes in 2010, according to the Consumer Financial [...]
‘Middle-class stampede’ for equity release as wealthy homeowners flock to lifetime mortgages November 12, 2021 The average property value of a lifetime mortgage customer has passed the half a million pound mark for the first time as the industry continues to make waves with financial advisers and wealthier customers, according to new data shared with City A.M. today. The steep rise in property prices over the past year cannot entirely [...]
Only 37 properties on estate agents books: Lack of homes is pushing up house prices November 11, 2021 Despite an overall net balance of 10 per cent of property professionals reporting an increase in new buyer inquiries, estate agents only have 37 properties on their books on average, down from around 42 in March, the Royal Institution of Chartered Surveyors warned this morning. A growth in inquiries from house-hunters in October is yet [...]
Poor housing costs NHS £1.4bn a year November 11, 2021 Hazards caused by poor quality homes in England are costing the NHS £1.4bn a year. The Building Research Establishment (BRE) found that 2.6m homes, making up 11 per cent of the country’s housing stock, are deemed ‘poor quality’ and endangering residents. The study looked at the 2018 English Housing Survey (EHS) on health and safety [...]