Derwent London snaps up Bloomsbury buildings as return to office builds August 10, 2021 Property giant Derwent London has announced the acquisition of five buildings around Bloomsbury and Marylebone as demand for new office space starts to rebound. Derwent London exchanged contracts for two properties totalling 182,100 sq ft located in the so-called knowledge quarter around University College London for £214.6m. The freehold office building at 250 Euston Road [...]
House prices rise but annual growth slows to 7.6 per cent as ‘steadier period’ predicted August 6, 2021 Houses prices rose again in July but slower annual growth suggests the market may be ‘cooling’, according to Halifax House Price Index data published today. The average cost of a property in the UK is now £261,221, up 0.4 per cent from June, adding £1,122 to the price of an average house. Annual growth fell [...]
Savills profits swell eight-fold, reaping rewards of a UK house buying frenzy August 5, 2021 Real estate services group Savills has seen its profit before tax surge more than eight-fold in the past six months, as the firm posted record levels of UK residential transaction advisory. The firm raked in revenue of £932.6m in the six months to 30 June, up by some £141.2m in comparison to last year. Meanwhile, [...]
Bargain hunt: One in three London homes fetch lower asking price August 5, 2021 London’s property market has become a buyer’s market, driven by demand flowing out of the capital and into areas such as the commuter belt since the onset of the Covid crisis, according to new figures published today. Research by London estate agent Benham and Reeves reveals nearly one in three properties in the capital have [...]
Taylor Wimpey revenue jumps 190 per cent after building record number of homes August 4, 2021 Housebuilding group Taylor Wimpey has built a record number of homes in the past six months, which has given its revenue a well-needed uplift. The housebuilder completed some 7,303 homes in the six months to 4 July, up from 2,771 in the same period last year. Shares were up three per cent in its afternoon [...]
London’s One Palace Green mansion to be turned into luxury flats worth £100m August 2, 2021 London and Monaco residential property company REDD has bought One Palace Green on Kensington Palace Gardens, which it plans to turn into into a luxury residential scheme. Once complete, the Grade II listed mansion originally the London residence of the Howard family of Castle Howard fame, is expected to be worth more than £100 million. The property company [...]
Countryside creep: London homeowners flee capital at record rate August 2, 2021 London homeowners are fleeing the capital at record levels as city slickers pursue newfound housing needs triggered by the Covid crisis, according to new figures released today. Research by estate agent Hamptons shows 61,830 Londoners purchased homes outside the capital in the first six months of this year, the highest number since they started recording [...]
Two-tiered recovery? High Streets struggle as one-in-seven shops sit vacant July 30, 2021 A wave of administrations, closures and downsizing has decimated the UK high street, with new figures out this morning showing one in seven shops are sitting empty – and the problem is getting worse. In the second quarter of 2021, the overall vacancy rate increased to 14.5 per cent across the UK, from 14.1 per [...]
Rush to beat stamp duty deadline drives mortgage borrowing to record high July 29, 2021 A rush to complete house purchases before the tapering of the stamp duty holiday at the end of June drove mortgage borrowing to a record monthly high, reveal new figures published today. The Bank of England said mortgage borrowing hit £17.9bn in June, surging 163 per cent in just a month from £6.8bn in May. [...]
The rise in house prices slows after stamp duty holiday ends July 28, 2021 Property prices have continued to rise but at a slower pace since the stamp duty holiday came to an end, according to the Nationwide HPI report for July. Annual house price growth slowed to 10.5 per cent in July, from the 17-year high of 13.4 per cent recorded the previous month. In month-on-month terms, house [...]