First time buyers face significant barriers as earnings lag behind soaring house price growth November 25, 2021 First time buyers are facing significant hurdles to raising a deposit as they come up against high prices relative to average earnings. House price growth has surpassed earnings growth over the past year and the ratio of house prices to earrings has hit a record high, the Nationwide House Price Index set out. A 20 [...]
Post-Brexit vote of confidence: German real estate giant Coros lands in London as it opens office in Soho November 24, 2021 German real estate company Coros is expanding into the UK as the firm has opened an office on Kingly street in Soho. The firm said it considers London as a gateway to Europe for international investors who are seeking access to Germany and other European markets. In addition to sourcing real estate projects, Coros’ London [...]
New build quality board selects ombudsman as redress plans for disappointed buyers move forward November 24, 2021 Disappointed buyers of shoddy new-builds are one step closer to the formation of a new body that would provide redress. The New Homes Quality Board – which oversees the quality of new-build houses – has announced that The Dispute Service has been selected to be the New Homes Ombudsman. The ombudsman will be independent and [...]
Plans to require Airbnb-style rentals to obtain licence from local council Scotland move in Scotland November 23, 2021 New government proposals in Scotland will require properties that are used for short-term lets and Airbnb-style rentals to get licences from the council. Ministers want to tackle the growth of Airbnb-style rentals in popular tourist areas such as Edinburgh and will ask individual councils to set the requirements for granting a licence while allowing uncapped [...]
Take a look: Department store titan’s former Park Lane apartment on sale for £19.5m November 23, 2021 Harry Selfridge’s Park Lane apartment – the man behind the British department store Selfridge’s – has gone up for sale for a dear £19.5m. The Brook House apartment, being sold by estate agency Wetherell, boasts a front seat view of Hyde Park, with small glimpses of the rest of London, including its iconic red buses, [...]
Don’t wait till after Christmas to sell your property November 18, 2021 There was a time when the property market could quite logically be split into seasons. But, such is the disruption to all our usual timetables and routines, that is no longer the case. The seemingly never-ending chain of events that impacted the the market in recent years, from tax changes and SDLT holidays to Brexit [...]
Property of the week: Country charm meets city pad November 18, 2021 If decamping to a country house sounds like the dream move for you and your family, but you don’t actually want to sever ties with the capital, then this could be the perfect solution – no compromise needed. Heathview Gardens sits over four floors and covers 8,584 sq ft. The clue to its desirability lies [...]
Grainger resilient against pandemic side effects as pre-tax profits soar November 18, 2021 The UK’s largest listed residential landlord Grainger has reported a higher pre-tax profit after revenue was driven by roaring housing demand. In results for the year ended 30 September, the property firm declared profit before tax up 53 per cent. What’s more, adjusted earnings rose two per cent while like-for-like rental growth saw a one [...]
House of Fraser flagship Oxford St store to shut as firm warns of ‘inevitable’ further closures November 17, 2021 The House of Fraser flagship store on Oxford St is set to permanently close, in another blow to the capital’s shopping district. Frasers Group said it had been served notice by the landlord to close the site, after an application for planning permission to redevelop the site was given the green light. A spokesperson for [...]
September house prices show ‘last of stamp duty sizzle’ November 17, 2021 UK house prices leapt in the year to September in the run up to the final stamp duty holiday deadline, government figures show. HMRC’s latest house price index shows that house prices climbed 2.5 per cent in September and 11.8 per cent annually. The average price of a property in the UK was £269,945, hitting [...]