Average house price of £29m: Here are 2021’s most expensive UK streets (and they are all in London) December 22, 2021 If you have a spare £29m in the bank, you may be able to buy yourself a property in the most expensive street in England and Wales, or London rather, as the five most pricy streets in the country are all in the capital. Nestled by the River Thames, Tite Street in the Borough of [...]
LondonMetric snaps up urban logistics spaces from Savills for £122m December 22, 2021 LondonMetric Property has snapped up Savills Investment Management’s UK Income and Growth Fund for a little over £122m. The deal, which follows an equity placing in November, will see the Fund’s portfolio of 15 assets, mainly urban logistics spaces, fall under LondonMetric jurisdiction. Key occupiers of the assets include HSBC, Fujitsu and Volkswagen – who [...]
Halifax: UK house price growth expected to be ‘much flatter’ 1 per cent in 2022 December 17, 2021 UK house price growth will remain robust next year but will be “much flatter” as rising inflation and interest rates, coupled with the end of government support measures, place greater pressure on household budgets. Prices are expected to inch up around 1 per cent in 2022, but “forecast uncertainty remains very high,” Halifax said this [...]
Millions of homeowners will see mortgage rate rises as ‘softer’ house price growth forecast December 16, 2021 Major banks have hiked mortgage interest rates in response to the Bank of England hiking rates 0.15 percentage points to 0.25 per cent. Banks raised rates following the decision on Thursday, meaning millions of households will pay heftier monthly mortgage repayments. Barclays, Halifax, Lloyds Bank, NatWest, Nationwide and Santander will pass on the increase to [...]
Mayor of London: Highest number of council homes started since 1970s December 16, 2021 The Mayor of London’s office has said it has “breathed new life into homebuilding” with some 4,689 new council homes started this financial year. Sadiq Khan said it was the highest number of new council homes since the 1970s, under the Mayor’s Building Council Homes for Londoners programme. The number of homes started annually had [...]
London offices at 10 per cent occupancy after work from home directive December 15, 2021 London offices plummeted to 10 per cent occupancy in the wake of fresh work from home guidance this week. Occupancy on Tuesday 14 December was down on the previous week’s figure of an average of 28 per cent occupancy, according to workspace technology company Freespace. The capital has been hit harder than other parts of [...]
Hammerson total gross sales proceeds hit £495m for year after contracts exchanged on Glasgow shopping centre December 15, 2021 Property developer Hammerson has exchanged or completed sales of six non-core assets for total gross cash proceeds of £92m since the half year. The development and investment firm said the largest asset was an exchange of an unconditional contract for the sale of Glasgow shopping centre Silverburn. The deal was from 50/50 joint venture partners [...]
China’s Evergrande: not so grand financial statements? December 15, 2021 | City Talk Evergrande Group is the latest listed company to unexpectedly find itself on the verge of bankruptcy. When businesses are thrust into public view for the wrong reasons, my first thought is always whether trouble could have been coming. To see if the Chinese property development giant’s travails could have been anticipated, I looked at its [...]
UK house prices go in reverse as market enters ‘new normal’ December 15, 2021 House prices have entered a ‘new normal’ after dropping 1.1 per cent between the end of the stamp duty holiday in September and October of this year. However, prices are 10.2 per cent higher year on year, marking the third month where annual growth has hit double figures. Year-over-year growth dropped from 12.3 per cent [...]
Mortgage lending expected to surge to record £316bn in 2021 December 13, 2021 Mortgage lending is expected to top £316bn by the end of 2021 after house sales rose to their highest level since the financial crash.