Tory manifesto pledge to build 300,000 new homes a year ‘almost impossible’, say analysts October 10, 2021 Boris Johnson’s pledge at the last election to build 300,000 new home a year by the middle of this decade is now “almost impossible” due to labour and material shortages, according to industry groups. The Conservative party’s election winning 2019 manifesto included a promise to build “300,000 homes a year by the mid-2020s” and that [...]
WeWork losses cast shadow over $9bn listing October 10, 2021 WeWork is set to report a loss of $1.5bn (£1.1bn) for this year, weeks before the company’s planned $9bn listing on the New York Stock Exchange, according to reports. City A.M. understands that the flexible office-space provider first made investors aware of its expected losses in an earnings report in August and again in an [...]
Real estate group snaps up 12 Hilton hotels in deal valued at £555m October 9, 2021 London headquartered Henderson Park Capital has reportedly purchased a chain of Hilton hotels in a multi million pound deal. The real estate group will add 12 hotels to its portfolio complete with 2,400 rooms which span London, Edinburgh, Dublin, Bristol and Coventry. The property is valued at £555m according to the FT and Henderson Park [...]
Revealed: The UK’s top 10 hottest property markets where house prices rise fastest October 9, 2021 City A.M. can reveal this morning what are the property hotspots across Britain at the moment, with Toxteth in Liverpool being identified as the number one market, with a 20 per cent increase in the average price tag for a home over the past year. Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater [...]
Not using a selling agent? You could be missing out big time October 8, 2021 There really is no exact science when it comes to putting a price on a property. Ultimately, reality dictates that it is only worth what someone is willing to pay – something many agents overlook, or fail to communicate, when it comes to recommending the asking price. Since selling your home can be one of [...]
Property of the Week: Lancer Square, a shiny new development on the edge of Kensington Gardens October 8, 2021 At the Kensington High Street end of Kensington Church Street, Lancer Square, which has been in development for many years, saw its first residents move in this week. The show apartment is a four-bedroom, five-bathroom enclave on the fourth floor overlooking the development’s sunken garden, and I think I can safely say that £15m doesn’t [...]
A new app lets you invest in property from your phone October 8, 2021 We have become used to doing our banking and investing from our phones, so now a new financial-meets-lifestyle app is launching specifically for investment in the UK residential property sector. If you’ve had your eye on the buy-to-let market, but haven’t jumped, from next month you can build a property portfolio with a few clicks. [...]
Office provider Workspace welcomes office return as occupancy rates rise October 7, 2021 Office-space provider Workspace has said it experienced a strong pick-up in activity last month as the UK gained momentum for the office return. Customer demand improved in the second quarter with an an average of 935 enquiries and 138 lettings per month Like-for-like rent roll was up 2.1 per cent in the first six months [...]
Canary Wharf skyscraper faces uncertain future as China cracks down on builders October 6, 2021 Many development projects in London are in limbo as Beijing is cracking down on overleveraged firms and casting a pall of uncertainty on their ability to bankroll their ventures. Greenland, a major Chinese real estate developer which rushed to London in post-recession boom along with many others, is reportedly struggling to finish ‘Spire’, which when [...]
Interest in multi-million pound London homes picks up October 6, 2021 Home buyer interest in London’s market for homes listed at £2m and above has jumped 5.8 per cent. Interest in properties £10m and above rose 1.8 per cent in the third quarter, the Prime London Demand Index by estate agent Benham and Reeves showed. In the £2m and above market, Wandsworth in the city’s south-west [...]