Debate: Should Sadiq Khan be allowed to freeze London rents for the next two years? September 17, 2020 Mayor of London Sadiq Khan yesterday said that rents should be frozen in London to prevent a predicted wave of evictions caused by Covid-19. He called for new powers to prevent any rent increases for two years in the capital, warning that half a million people could face eviction because of arrears built up during [...]
LGIM set to reopen property fund in October September 16, 2020 LGIM will reopen its property fund in October, seven months after the coronavirus crisis forced it to suspend dealing. In an update today, LGIM said its authorised fund manager, L&G Unit Trust Managers, intends to reopen the property fund and its feeder fund on 13 October. The board is now “confident” in lifting the suspension [...]
Government extends ban on commercial evictions until end of 2020 September 16, 2020 Businesses cannot be evicted by landlords for getting behind on rent payments until the end of 2020, the government said today, announcing an extension on an earlier policy. The moratorium on commercial tenant evictions may deepen the rift between retailers and landlords, as the high street continues to struggle amid dampened footfall. The government is [...]
Official figures confirm jump in UK house prices September 16, 2020 UK house prices jumped in June after the property market reopened and a wave of pent-up demand was released, the government’s Land Registry has confirmed. Average house prices in the UK rose by 3.4 per cent in the year to June 2020, official figures showed. That was up from the 1.1 per cent increase in [...]
Housebuilder Redrow takes £35m hit on pulling out of London market September 16, 2020 Redrow’s profit sank 66 per cent in the last financial year due to the “profound impact” of the coronavirus pandemic, which prompted the housebuilder to take a £35m hit on pulling out of the London market. The figures Turnover for the year plunged 37 per cent to £1.34bn as the number of completions plummeted due [...]
British Land chief to step down in November September 10, 2020 Property developer British Land has today announced that chief executive Chris Grigg will step down after 11 years at the helm. Simon Carter, who is currently the firm’s finance chief, will take over the top job, it added. Carter returned to British Land in 2018 after spells as the finance chief at European warehouse business [...]
London house prices stabilise as buyers take advantage of stamp duty holiday September 10, 2020 London’s housing market has stabilised with activity continuing to rise, as buyers take advantage of the stamp duty holiday. The August Rics residential survey found 28 per cent of respondents noted an increase in buyer interest across the capital. Buyer enquiries continued to rise while the number of new properties listed for sale also increased. [...]
Back to work: Half of Londoners miss socialising with colleagues, survey finds September 9, 2020 Half of Londoners have missed socialising with their colleagues while they have been working from home during the coronavirus pandemic, a survey has found as more staff return to offices. Many employers are seeking to permanently embrace home working after lockdown forced offices to close. However 49 per cent of London-based office staff have missed [...]
Office design experts lead London’s return to the office September 9, 2020 | Sponsored Returning to work in the nation’s capital could mean economic revival, but businesses wonder whether it can be done safely: design and build experts prove that it can. If the 1918 Flu Pandemic is anything to go by, much about Coronavirus could conceivably remain a mystery more than 100 years into the future. One thing [...]
Knight Frank launches auction business to battle coronavirus uncertainty September 9, 2020 Estate agent Knight Frank has launched an auction business to help clients sell homes faster during the heightened period of uncertainty caused by the coronavirus pandemic. The property consultancy announced this morning that it will hold seven sales in total, with the next one held on 22 October, following a successful trial in July. Further [...]