UK house prices’ affordability improves at fastest rate for eight years as wage growth outpaces prices February 18, 2019 Prospective house buyers could be set for a change in fortunes as affordability improves at its fastest rate in eight years, new data has revealed. With annual house price growth at just 0.2 per cent, the annual wage increase of 3.4 per cent is outpacing asking prices at the fastest rate since 2011, according to figures [...]
Proportion of foreign buyers snapping up central London homes hits six-year high February 18, 2019 The proportion of homes in prime central London bought by international buyers hit its highest level in six years in 2018 as foreign buyers cash in on a drop in the pound. Fifty-seven per cent of homes bought in the capital’s most sought-after postcodes in the second half of 2018 were snapped up by an [...]
Citigroup closes in on £1.2bn purchase of Canary Wharf headquarters February 17, 2019 Citigroup is in talks to buy its Canary Wharf headquarters for a reported £1.2bn in a major show of confidence in London’s status as a global financial centre. Citi is looking to secure the purchase of the 25 Canada Square skyscraper, which it currently leases, from owner AGC Equity Partners in a bid to double [...]
Interiors: Laura Ivill reviews the new sustainable Ikea Greenwich on its opening weekend February 15, 2019 Four years in the planning, Ikea Greenwich opened last weekend as the company’s first “sustainable store” in the UK. A pilot ran in Germany, but the Swedish behemoth, the world’s largest homewares retailer, chose SE10 for its new dawn. Billed as taking sustainability to the next level, it opened with a BREEED 'excellent' accreditation for green [...]
Opinion: Lloyd’s Lend a Hand mortgage is a great deal for the bank, but is it any good for borrowers? February 15, 2019 A “new” mortgage called ‘Lend a Hand’ from Lloyds made the headlines last week – well, the real headline was the 100 per cent Loan-to-Value, which brought back memories of the financial crisis. Digging deeper into the mortgage itself, this product may well help first-time buyers, provided they are very careful, but, really, it is [...]
Focus On Wanstead: Families flock to ‘the Twickenham of East London’, where houses near green spaces have sold for seven digits February 15, 2019 There was a time when Wanstead, an unusually leafy spot of east London, was most famous for its Member of Parliament. They don’t come much more recognisable than Sir Winston Churchill, who served Wanstead from 1924 up to 1964 with a patch of absence in the middle for his Wilderness Years. But there’s one other [...]
New homes: Our pick of the new builds going on sale in London this weekend February 15, 2019 New developments on the market this week Ridgeway Views, Mill Hill From £569,995 Move into one of these two and three bedroom flats in time for the summer. The latest phase of homes, called Highwood Place, went on sale this week overlooking Totteridge Valley, with views of the rolling hills from private balconies and terraces, [...]
Millennium & Copthorne warns of ‘challenging’ 2019 as profits plummet 28 per cent February 15, 2019 Millennium & Copthorne warned today that it anticipates a challenging 2019 as it revealed that profits fell 28 per cent last year. The figures In its full year results, the hotel company reported that profit before tax for 2018 fell 28 per cent to £106m in 2018, down from 2017's total of £147m. Revenue also slipped [...]
Property legal Q&A: Can I change my solicitors part-way through the purchase of my flat? February 15, 2019 You do not say why you wish to change your solicitors, but among the most common reasons for doing so are dissatisfaction with the level of service being provided, where a conflict of interest has arisen, or the need for particular expertise. If you have a complaint about your solicitor, this can often be resolved [...]
Segro to make £450m placing as profits soar February 15, 2019 Warehouse landlord Segro said today that it is planning to raise £450m as it looks to ramp up development amid a boom in demand for storage space from online retailers. Britain’s largest listed property firm, which also posted a double-digit profit rise in its full-year results this morning, has proposed a placing of shares to fund [...]