Stamp duty holiday costs government more than £500m in lost taxes February 3, 2021 The government lost out on more than half a billion pounds in taxes due to the stamp duty holiday, according to the latest figures. Data from HM Revenue and Customs (HMRC) showed that overall stamp duty land tax receipts fell 16 per cent to £2.76bn in the fourth quarter of last year, compared to £3.29bn [...]
Medical trial firm converts East End hotel as Covid19 nasal vaccine study ramps up February 3, 2021 An Aim-listed medical trial firm is expanding in East London to free up space for two Covid-19 vaccine trials underway in Whitechapel.
Property chiefs: Lockdown and end of stamp duty holiday push down house prices February 2, 2021 The most recent drop in house prices is primarily caused by the soon-to-end stamp duty holiday, combined with the UK’s third national lockdown, property professionals told City A.M. this morning. According to new figures, published by Nationwide earlier this morning, January saw property prices fall for the first time in six months as the end [...]
Capco suffers £275m hit as lockdowns damage value of Covent Garden estate February 2, 2021 Property giant Capital & Counties has seen the value of its central London estate fall by around £275m in the second half of 2020, as the landlord was hit by Covid-19 lockdowns. Capco, which manages over 1 million sq ft of space in the West End, suffered a 27 per cent yearly drop in value [...]
House prices fall for first time in six months in January February 2, 2021 House prices fell for the first time in six months in January as the end of the stamp duty holiday approached. Nationwide’s annual house price index showed that prices fell 0.3 per cent last month, the first time they have dropped since June. That means the average price for a house, not adjusted for the [...]
Why yak hair is taking over our homes and wardrobes February 1, 2021 As we sit around our houses staring at the same four walls, we seem to have come to a collective conclusion: short-legged, long-haired ox and even-toed ungulates are in. One of the less predictable trends emerging in 2021 is our increasing propensity to dress ourselves and our interiors in the understated but highly functional elegance [...]
UK mortgage approvals reach highest level since 2007 February 1, 2021 The number of mortgage approvals reached their highest level since 2007 last year as buyers took advantage of the stamp duty holiday. The housing market remained resilient in the face of volatility and essential closure of the market during the first lockdown. There were 818,500 mortgage approvals over 2020, up from 789,100 the previous year, [...]
Hunter becomes the hunted: property firm sold to TPFG for £24m January 28, 2021 Real estate firm Hunters agreed this morning to a takeover by The Property Franchise Group (TPFG) to create an enlarged franchised estate agent with just over 400 branches. TPFG is set to acquire Hunters for £24m after the approval of the firm’s founder, chairman and MP Kevin Hollinrake. The acquisition should allow for cost synergies [...]
Office demand drops as Workspace reports 33 per cent fall in enquiries January 28, 2021 Workspace remains optimistic about the future of London’s office work despite a sharp drop in enquiries throughout the pandemic. This morning’s results show the group averaged 672 enquiries per month in the third quarter, a 33 per cent drop from the previous year. Lettings per month also fell by 3.4 per cent to 109, driven [...]
Shakespeare: Boohoo buys Debenhams brand to broaden its customer base January 27, 2021 Online fashion giant Boohoo has bought the Debenhams brand and website for £55 million, meaning its remaining stores will be forced to close. Boohoo already purchased the Karen Millen and Coast brands in 2019, however this is the first time the e-tailer has stepped out of the fashion category, with Debenhams enabling entry to the [...]