Central London office take-up plummets as employees work from home May 27, 2020 The amount of central London office space leased in the first quarter of the year plunged as employees began working from home and the UK entered its coronavirus lockdown. Office space leased in the capital between January and March reached 2.7m sq ft, down 30 per cent on the previous quarter. The government introduced a [...]
House buyer demand surges after government lifts property market restrictions May 27, 2020 Demand from potential house buyers spiked 88 per cent after lockdown restrictions on England’s property market eased earlier this month, according to the latest research. However, the pent-up demand varied between cities, according to the latest research by Zoopla, and the rebound in London has been less pronounced than other English cities. The research found [...]
Housing transactions collapse in April as lockdown hits UK property market May 21, 2020 Housing transactions plunged in April as the UK property market was brought to a standstill by the coronavirus crisis. The latest data from HM Revenue and Customs showed that the number of residential property transactions last month was down 53.2 per cent compared to April 2019. Housing transactions were also 46.1 per cent lower than [...]
UK supermarkets win ATM business rates legal battle May 20, 2020 UK supermarkets including Tesco, Sainsbury’s and Co-op will not have to pay business rates on ATMs at their stores after winning a long-running legal battle. The Supreme Court judged today that retailers were not liable to pay business rates on ATMs inside or outside stores. The ruling against the Valuation Office Agency will result in [...]
London landlord Great Portland Estates pulls rental value guidance due to coronavirus May 20, 2020 London landlord Great Portland Estates pulled its guidance on rental values for the year, but warned that the coronavirus crisis would continue to have a negative impact on property in the capital. The property firm’s portfolio value dropped 0.3 per cent in the year ended 31 March as retail property values fell 3.5 per cent. [...]
Housebuilder Vistry to cut jobs after acquisition of Galliford Try’s homes unit May 20, 2020 UK housebuilder Vistry warned it will cut more jobs as it continues to consolidate operations following Bovis Homes’ acquisition of and Galliford Try’s residential business. The firm, which was called Bovis until the merger last year, said a consultation on reducing its employee headcount was ongoing, and it expected the cuts to result in annual [...]
UK house prices jumped before coronavirus lockdown brought market to standstill May 20, 2020 UK house prices jumped in March before the coronavirus lockdown brought the housing market to a standstill. The average UK house price increased 2.1 per cent in the year to March, up from two per cent in February. London house prices soared 4.7 per cent, the largest 12-month growth recorded in the capital since December [...]
Retail landlord Intu seeks debt standstill as rent payments fall in lockdown May 18, 2020 Embattled retail landlord Intu said this morning that it is seeking debt standstills from its lenders as it warned it expects to breach covenants next month due to a slump in tenant rent payments. Intu, which owns Manchester’s Trafford Centre, said the impact of unpaid rent and plummeting property valuations was likely to result in [...]
Government urged to help property market recover amid UK house price slump May 14, 2020 The government has been urged to provide measures to help the property market to recover, after the latest research warned that UK house prices are set to plunge this year. The Royal Institution of Chartered Surveyors (Rics) reiterated its call for a stamp duty holiday to encourage buyers , warning that UK house prices were [...]
Coronavirus: Housebuilder Countryside reports £29m profit hit May 14, 2020 Housebuilder Countryside Properties took a £29m hit to profit in March due to lost home and land sales as the coronavirus pandemic escalated in the UK. The developer said it estimated that around 184 completions, including 79 private completions, were lost in March. Five land sales were also cancelled by the buyer due to coronavirus. [...]