London homes snapped up by Hong Kong buyers quadruples April 29, 2021 The number of London homes being bought by Hong Kong buyers has quadrupled since the UK’s visa scheme has allowed many to relocate. Hong Kong buyers now account for four per cent of transactions in the capital, up from one per cent, according to client data from property firm Benham and Reeves. Since the British National [...]
London only UK region to report drop in rent prices over last five years April 28, 2021 The capital is the only region in the UK where rents have fallen over the last five years as Londoners have left the city during the pandemic and fewer young professionals have moved for work. Asking rents in almost two thirds – 65 per cent – of London neighbourhoods are lower than they were five [...]
House prices: Which central London postcodes offer the most open space? April 27, 2021 The W1K postcode of Mayfair and St James’s is the greenest pocket of the prime central London market, according to new research that looked at which London postcodes present high-end homebuyers with the most open space. An estimated 36.5 per cent of the postcode area presents open outdoor spaces, by far the most of all [...]
Home buyer demand doubles property sales to £149bn this year April 27, 2021 A surge in home buyer demand has resulted in £149bn worth of properties being sold so far this year, double the value in the same period in 2020 and 2019. According to the latest research, one in every 50 homes was sold between 1 January and 15 April, up from one in every 100 homes [...]
Office landlord IWG says enquiries rebounded to pre-Covid levels in first quarter April 27, 2021 Office space provider IWG said enquiries bounced back to pre-Covid levels in the first quarter as it pushes ahead with its franchising strategy. IWG said the first three months of the year had provided a “clear inflection point, with occupancy stabilising in February and improving in March”. It said it expects the momentum to continue [...]
The office is not dead – far from it, say City insiders April 26, 2021 As the economy starts to reopen, the City is slowly coming back to life. A range of banks and Square Mile-based firms have started to formalise work from home policies and implemented flexible working arrangements. Businesses in every sector have been debating concepts of what the post-Covid office could look like with pessimists doubting its [...]
House prices: New build homebuyer demand explodes on England’s south coast and in Wales April 26, 2021 Homebuyer demand for new build homes has climbed 9 per cent in the last year, with coastal towns in the south of England and Wales leading the charge. Across Britain, 38.7 per cent of all new build homes are already sold subject to contract or under offer, a 9 per cent jump on the same [...]
Westfield unveils updated plans for £1.3bn White City residential scheme April 26, 2021 Westfield has revised its planning application for a £1.3bn residential scheme in White City, adding several hundred new homes to the proposals. The proposed scheme will include up to 1,760 new homes, up from the 1,093 granted planning permission in 2017, and will also involve the construction of a 1.4 acre public space and new [...]
More UK home sellers are getting above asking price than at any time since Brexit vote April 26, 2021 The number of UK properties that sold for more than the original asking price jumped to the highest level in more than six years last month. The latest research showed that 16 per cent of homes sold for more than their initial price tag in March, compared to 11 per cent in February. This is [...]
Boost for first-time buyers as more ultra-low deposit mortgages hit the market April 24, 2021 In a further boost to first-time buyers, more lenders are bringing 5 per cent deposit mortgages onto the market. New deals announced by Metro Bank and Cambridge Building Society are not part of a new government-backed mortgage guarantee scheme which was launched this week to increase the availability of 5 per cent deposit loans. Major [...]