London house prices increase 2.2 per cent September 15, 2021 London has marked the lowest annual house prices growth across the UK while UK average prices returned to levels seen earlier this year. Figures from the Office for National Statistics show that average prices in the capital increased by 2.2 per cent over the year to July 2021, down from 5.1 per cent in June. [...]
Leaseholder victory: Countryside to remove ground rent doubling terms after CMA action September 15, 2021 Developer Countryside Properties has struck out terms meaning ground rents double every 10 to 15 years, after a watchdog’s instruction Leaseholders’ ground rents will stay at the amount charged when they first bought their home, following action by the Competition and Markets Authority (CMA). The Big Four developer has voluntarily given formal commitment to removing [...]
Top 10 cheapest London postcodes revealed September 15, 2021 A postcode district in Thamesmead has been found to be the cheapest postcode district in London for property at an average cost of £387 per square foot. The cheapest postcode was SE28, in the local authority of Greenwich, Brexley, where properties are x0.58 the London average, according to data from Churchill Home Insurance. The nearby [...]
CEOs plot acquisition spree as UK recaptures global attention September 14, 2021 With AA motoring group, Asda, Morrisons and Stock Spirits taken over by private equity firms such as CVC, the UK market has recaptured the globe’s attention, having seen an unprecedented wave of deals. Stemming from initial undervaluations due to Covid-19 and Brexit, on average, UK companies were being undervalued by around 30 per cent, according to recent data from Schroders. [...]
Cash strapped Chinese property giant Evergrande battles $300bn in liabilities September 14, 2021 Chinese property giant Evergrande has admitted it is under “tremendous pressure” not even a year after its $1.8bn Hong Kong stock exchange float. The beleaguered firm is battling more than $300bn in liabilities, following years of borrowing to fund its rapid expansion. The property group achieved the lower end of expectations, raising $1.8bn from the [...]
House prices along the Thames: How much do you pay for a riverside view in London? September 14, 2021 There’s something incredibly tranquil about a property with a riverside view, especially in the UK’s biggest cities. In London, homes with views across the River Thames are in high demand and many command a price premium. However, depending on location, it’s possible to pay as much as £3m or as little as £280,000 for a [...]
Property: ‘Best market in two decades’ but lack of stock spooks sellers September 14, 2021 The property market is in the best shape to sell in more than two decades, OnTheMarket’s boss has said, but sellers are being spooked by the lack of stock and the rapid rate at which homes are being snapped up. Some 73 per cent of UK buyers felt confident that they would purchase a property [...]
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Government’s ambitious planning reforms to be watered down September 11, 2021 Planning reforms that were designed to boost homebuilding are set to watered down by the Government, according to various reports this morning. With a target of building 300,000 new homes a year in England, ministers had said they wanted to overhaul the planning system, arguing reforms would boost the building of high-quality, sustainable homes, by [...]
Exclusive: Home improvement boom gives SME construction a 35 per cent lockdown boost September 9, 2021 The home improvement boom experienced during three strict lockdowns has led to a 35 per cent increase in sales for SMEs in construction, according to new data that was shared exclusively with City A.M. today. Figures from almost a quarter of a million invoices recorded by 915 trade SMEs has shown that the average invoice value [...]