UK mortgage lending rises in July as housing market picks up post-lockdown September 1, 2020 UK mortgage lending accelerated in July, a latest sign of a post-lockdown bounce-back in the housing market, and consumers returned to borrowing, data from the Bank of England showed today. Mortgage approvals jumped to 66,300 from just under 40,000 in June and seven times higher than their coronavirus pandemic low of barely more than 9,000 [...]
UK house prices to ‘hold firm’ in 2020 despite Covid-19 crisis August 27, 2020 UK house prices are set to hold firm for the rest of the year despite the looming recession and rising unemployment sparked by the coronavirus crisis. Annual house price growth has been sustained at 2.5 per cent as demand continues to outstrip supply, despite fears that the pandemic would cause property values to plunge. According [...]
London landlord Grosvenor pays for tenants to extend Eat Out to Help Out August 26, 2020 West End landlord Grosvenor will pay for its Mayfair and Belgravia tenants to continue to offer half price meals throughout September to boost visitor numbers in central London. The property company said it will fund the £10 discount offer after the government’s Eat Out to Help Out scheme comes to an end on 31 August. [...]
High demand for prime property leads market rebound August 24, 2020 High demand for so-called prime property has led the UK housing market’s post-lockdown rebound, new data from estate agents Knight Frank revealed today. Since markets reopened in mid-May, the UK market has surged back at a surprisingly swift pace due to the release of a tide of pent-up demand. According to the research, the biggest [...]
Square Mile builder: It’s time to get London back up and running August 20, 2020 “I’ve been getting on trains for six weeks and not once have I felt uncomfortable because I wasn’t able to socially distance,” says Square Mile construction firm Mace’s chief executive Mark Reynolds. The company, which is headquartered in Moorgate in the heart of the City, is slowly encouraging staff to return to work at the [...]
Purplebricks fined £260,000 for breach of money-laundering rules August 18, 2020 Online estate agency Purplebricks has been fined more than £260,000 by HM Revenue & Customs for violating money-laundering rules. Under UK regulations implemented in 2017, estate agencies are required to ensure customers are not using their business to launder money. The legislation says estate agencies are responsible for carrying out financial checks on their clients [...]
Persimmon’s first-half profit slumps before market rebound August 18, 2020 Housebuilder Persimmon’s pre-tax profit tumbled 42 per cent in the first half of the year, but the company said it had had an “excellent start” to the second half as market sentiment improved. The figures Persimmon’s profit before tax fell 42 per cent to £292.4m in the six months ending 30 June, down from £509.3m [...]
James Bond penthouse in former MI6 headquarters on sale for £5.5m August 17, 2020 A penthouse apartment in the former MI6 headquarters that was once home to the real-life inspiration for James Bond’s boss M has gone on the market for £5.5m. The bombproof flat, located in Whitehall Court in the heart of Westminster, is part of the original London base of the Secret Intelligence Service. It also served [...]
UK housing market surges in busiest month in 10 years August 17, 2020 Brits have turned to home-buying to fill the summer holiday void post-lockdown as the UK housing market’s “mini-boom” accelerated in August. Rightmove’s latest house price index released today reveals the highest number of monthly sales in more than 10 years in August. It is up by 20 per cent on the previous high, and with [...]
UK tradespeople remain optimistic despite pandemic uncertainty August 17, 2020 Tradespeople in the UK continue to remain optimistic for near-term workloads despite the economic havoc triggered by the pandemic. A survey of over 1,300 tradespeople conducted by builders’ merchant Travis Perkins, found half of the respondents believe their workloads will increase and will have to buy new materials over the next two months. The first [...]