Interiors: Laura Ivill explains why companies and five star hotels are splashing out on experts of the ancient Chinese art form February 11, 2019 The year of the pig has arrived in the City of London. There was a time when only Chinese brokerages celebrated the tradition in the Square Mile, but now it’s a lively fixture across the City. At Asian restaurant Mei Ume, stationed at the Four Seasons Ten Trinity Square hotel near Tower Bridge, which is [...]
Government housing targets under fire from UK watchdog February 8, 2019 The government’s method used to assess the number of homes needed to fix Britain’s housing crisis is "flawed", according to the UK's public spending watchdog. In a damning new report published today, the National Audit Office (NAO) has said that the government’s planning system “is underperforming and cannot demonstrate that it is meeting housing demand [...]
New homes: Our pick of the new builds going on sale in London this weekend February 8, 2019 New developments on the market this week Kidbrooke Village, Greenwich From £567,500 for a two bed with two bathrooms First time buyers can get on the ladder – and be part of a £1bn regeneration project – on the outskirts of Blackheath with the launch of these new Help to Buy homes. The interior design [...]
Revive that entrepreneurial spirit and get Britain building again February 8, 2019 Politicians have recently become fond of talking about how to tackle our alarming housing crisis. Yet little is delivered – and what is achieved focuses on inflating demand, with schemes like Help to Buy which do nothing to address the underlying supply shortage. In the third quarter of 2018, building on 46,930 new homes began [...]
Shareholder feud mounts as Samuel Tak Lee plans to vote against re-election of Shaftesbury bosses February 7, 2019 The war of words between one of London’s largest landlords and a Hong Kong billionaire has escalated this morning in the run-up to an investor showdown set to take place tomorrow. Samuel Tak Lee, who owns a 26 per cent holding worth £700m in West End property group Shaftesbury, has revealed today that he will [...]
UK house prices fall at the start of 2019 as Brexit uncertainty weighs on market, says Halifax February 7, 2019 UK house prices experienced their steepest drop for nine months in January as eyes turn towards the possible impact of Brexit on the housing market, figures released today showed. House prices dropped 2.9 per cent in January compared to December’s 2.5 per cent rise, Halifax house price index data revealed. That is just short of April's [...]
Bellway set for revenue bump despite Brexit jitters February 7, 2019 Bellway said this morning that it was expecting a rise is sales over the year ahead, despite echoing the cautious sentiment over Brexit from many of its peers within the property industry. Buoyed by demand for affordable homes and government schemes such as Help-to-Buy, Bellway said in a trading update this morning that it expected total [...]
Segro appoints Mondelez chocolate boss Mary Barnard to the board February 6, 2019 Property group Segro today said it has appointed a veteran of confectionery company Mondelez to its board. Mary Barnard, who is currently president of European chocolate for Mondelez, will take up the position of non-executive director from the beginning of March. Read more: Segro rent soars amid rising e-commerce demand for warehouse space The British [...]
Redrow hails record profit as founder bows out on a high February 6, 2019 Housebuilder Redrow hailed record half-year profits before tax this morning, striking a resilient tone despite fears of greater uncertainty over Britain's imminent departure from the EU and a “subdued” Christmas. The figures In Steve Morgan’s final trading statement as chairman, the FTSE 250 developer said that pre-tax profits rose five per cent to £185m in [...]
Private Rented Sector investment to hit £75bn by 2025 February 5, 2019 Investment in the UK’s private rented sector (PRS) is expected to nearly double in size over the next six years, as home-ownership rates wane in the wake of affordability pressures. The level of capital being invested or committed into the UK’s professionally-managed institutional PRS is forecasted to hit £75bn by 2025, marking a sharp rise [...]