US home sales slump in March as coronavirus bites April 21, 2020 US home sales tumbled at the fastest rate in over four years in March, figures have shown, as coronavirus containment measures choked off buyer demand in one of the biggest markets in the world. Existing home sales slumped 8.5 per cent in March to a seasonally adjusted annual rate of 5.27m units, the National Association [...]
London property: Number of new homes on the market drops across all boroughs April 20, 2020 The London property market has been hit by the UK’s coronavirus lockdown, with all boroughs suffering a sharp decline in the number of new homes on the market. Outer boroughs such as Hillingdon and Bromley have seen the steepest drop, with the number of new homes for sale falling 91 per cent since restrictions were [...]
UK house prices dip as coronavirus lockdown makes sales ‘almost impossible’ April 20, 2020 UK house prices dipped during the coronavirus lockdown as experts warned the housing market was barely functioning due to the restrictions. The latest data from Rightmove showed that the average price of property coming to market dipped 0.2 per cent to £311,950. In April last year UK house prices increased 2.1 per cent. However, Rightmove [...]
Opinion: Supermarkets look a good bet April 20, 2020 The received wisdom at present is that UK property capital markets have pretty much gone into suspended animation in the face of the pandemic, but this certainly isn’t the case in the grocery-led sector. There are currently seven substantial supermarket transactions totalling around £205m which are either under offer or due to imminently complete. And [...]
Coronavirus: Knight Frank and Rightmove call for stamp duty holiday to reignite market April 20, 2020 Estate agent Knight Frank and property platform Rightmove have both backed a stamp duty holiday as part of a package of measures to reignite the housing market after the coronavirus lockdown is lifted. The companies have separately called for a stamp duty holiday to be among a range of measures designed to stimulate the market, [...]
Foxtons targets £22m equity raise amid London house prices blow April 17, 2020 Foxtons estate agent has proposed a major £22m share sale representing about 20 per cent of issued stock as it furloughs staff. The £22m equity raise will allow Foxtons to repay its revolving credit facility and to boost its liquidity in the face of the coronavirus shutdown. The share sale would bolster its cash balance [...]
Coronavirus: Barratt Developments furloughs 85 per cent of staff April 16, 2020 Housebuilder Barratt Developments today announced it has temporarily laid off 85 per cent of its staff through the government coronavirus job retention scheme. Furloughed employees will receive full pay until at least the end of next month, the company said this morning. The developer also said both the executive and non-executive teams had agreed to [...]
Coronavirus: Banks approve 1.2m mortgage holidays amid financial strain April 14, 2020 More than 1.2m UK households have agreed mortgage holidays with their banks, figures have shown, as the coronavirus crisis causes borrowers unprecedented financial stress. Chancellor Rishi Sunak announced on 17 March that households with mortgages would be entitled to three-month payment holidays, meaning payments would be suspended. It was part of an unprecedented coronavirus response [...]
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Airbnb restricts UK bookings to key workers due to coronavirus April 9, 2020 Airbnb has blocked UK bookings for all customers except key workers during the coronavirus lockdown. UK listings still appear on the platform however bookings were blocked from 9am today unless they are essential. The restrictions will stay in place until at least 18 April. Under the government lockdown restrictions, all hotels and other accommodation providers [...]