New homes: Our pick of the new builds going on sale in London this weekend February 22, 2019 New developments on the market this week Acton Gardens, Acton From £430,000 Get on the Crossrail network with these new homes next to Acton High Street. Residents will have four train stations to choose from, including one linked to the high-speed rail network that is due to be running by the end of the year. [...]
January deals flat as uncertainty weighs on housing market February 21, 2019 Buyers and sellers in Britain’s housing market remained subdued in January, as stamp duty and Brexit uncertainty added to the traditional New Year slowdown. Data released this morning from HMRC has found that residential deals nudged up by 0.8 per cent between December and January, marking a 1.3 per cent rise on the same period [...]
Purplebricks suffers share price slump as revenue guidance is slashed and bosses head for the exit February 21, 2019 Hybrid estate agency Purplebricks spooked the markets this morning after bosses on both side of the pond departed and the firm slashed revenue forecasts for the year ahead. The group's share price plunged 35 per cent in early morning trading after Purplebricks announced that UK and US chief executives Lee Wainwright and Eric Eckardt are [...]
A Brexit-induced price drop won’t fix the housing crisis February 21, 2019 The last 30 years have seen house prices in London soar to dizzying heights. The average home has leapt from £81,536 in 1988 to £473,882 in 2018 – that’s a 481 per cent increase. If the cost of a pint of milk (26p in 1988) had jumped up at the same pace, it would now [...]
European Medicines Agency loses £500m ruling over bid to cancel lease amid Brexit move February 20, 2019 The European Medicines Agency (EMA) has lost a court battle to break a £500m London office lease in the wake of its planned move to Amsterdam post-Brexit. In a landmark case for the commercial property industry ahead of Britain’s departure from the EU, landlord Canary Wharf has won a ruling that means the EMA must [...]
Shopping centre landlord Intu swings to a loss after swallowing £1.4bn hit to property values February 20, 2019 Embattled shopping centre landlord Intu moved into the red last year, as more than £1.4bn was wiped off the value of its property following a swathe of retail challenges. Shares in the group dived almost 10 per cent in early morning trading. The figures Losses at the FTSE 250 firm, which suffered two failed takeover bids [...]
Property of the Week: Christie’s wine vaults have been turned into a bachelor pad in South Kensington February 19, 2019 An art dealer looking for a pied a terre could do worse than living adjacent to Christie’s auction house. This two bedroom duplex is so close to the internationally famous business where fine art and jewellery is sold to the highest bidder that it used to be its wine vault. For years, this space held [...]
Number of first-time buyers soars to 12-year high February 19, 2019 The number of first-time buyers in Britain reached a 12-year high in 2018, with more competitive asking prices and government schemes such as Help to Buy providing a much-needed boon for hopeful homeowners. According to data released by UK Finance this morning, there were 370,000 new first-time buyer mortgages completed in 2018, marking the highest number [...]
Greystar and Henderson Park snap up Telford build-to-rent site for £105m February 19, 2019 London housebuilder Telford Homes revealed this morning that it has sold one of its largest build-to-rent development sites for more than £100m. US developer Greystar and European real estate investment platform Henderson Park have snapped up the Equipment Works scheme in Walthamstow, which comprises more than 250 rental homes, for £105.5m in their latest bid to [...]
Transactions slips as market ‘holds its breath’ in run-up to Brexit February 18, 2019 Fresh evidence of an activity slump in Britain’s housing market has been brought to light this morning, with new data showing a sharp drop in property transactions during the last three months. The average number of sales recorded by estate agents in November to January were 36 per cent lower than the long-term average, as [...]