House prices in the capital sink to lowest level since financial crisis August 15, 2018 London house prices have fallen at their fastest annual rate since the financial crisis, dragging the UK property market down to its lowest levels of growth in five years. House prices in London tumbled 0.7 per cent in the year to June 2018, marking the sharpest decline in annual growth since a 3.2 per cent [...]
Investec fills entire City building in post-Brexit commitment August 13, 2018 Specialist banking giant Investec Asset Management has agreed to occupy the whole of 55 Gresham Street in a move that signals yet another firm commitment to the City of London post-Brexit. More than 121,000 square feet of offices spanning 11 floors will be let out in the grade A building located in the heart of [...]
Property withdrawals overtake sales for first time in two years August 12, 2018 More properties are being taken off the market than are being sold for the first time in two years, a new report has found. The findings show that in the second quarter of this year, 51 per cent of properties taken off the market were withdrawn from sale, compared with 49 of residences which were [...]
New Zealand bans foreign buyers in wake of house price bubble August 12, 2018 Famed for its pleasant green lands and quaint Hobbit villages, New Zealand might not often be the first place that is associated with a housing crisis. But in the latest sign that the country’s desperation to quell house prices have hit new depths, foreign buyers have now been banned from purchasing existing homes. Read more: [...]
City deals spurred by record year of South Korean investment August 12, 2018 South Korean investors have pumped record levels of cash into London’s commercial property market over the last six months in fresh evidence of burgeoning Asian demand for City buildings. Office investment into the UK from South Korea reached £1.1bn in the first half of 2018, doubling last year’s total level of £530m in the whole [...]
New Homes: What’s going on sale this week in London August 10, 2018 Landmark Pinnacle, Canary Wharf From £542,750 You’ll be breaking records by buying an apartment in this 75 storey skyscraper, which claims to be the tallest residential tower in London. It also has the highest residential gym, roof terrace and a landscaped garden square halfway up. These are the last homes to go on sale, [...]
Prime time: Property prices soar for London’s most expensive homes August 10, 2018 Prices for central London’s most expensive properties have risen at their fastest levels in almost three years, amid signs that confidence is starting to return to the capital’s high-end residential market. Central London’s prime house prices rose 1.2 per cent over the second quarter of the year, marking the highest annualised growth since autumn 2015. [...]
Derwent developments bring major boost to London August 10, 2018 Major property developer Derwent London gave a huge boost to confidence in the capital yesterday by committing to £700m worth of new high-end development projects. The FTSE 250 giant will start work next year on a £500 million redevelopment of the historic Astoria music venue on the corner of Oxford Street and Charing Cross Road, [...]
Insurer Hiscox is first tenant for tallest City of London skyscraper at 22 Bishopsgate August 6, 2018 The City’s tallest skyscraper has landed its first tenant as plans for a global insurer to take a 19-year lease in the building were unveiled today. Hiscox hopes to occupy three floors of the building at 22 Bishopsgate, known as Twentytwo, once construction is set to be completed late next year. The 62-storey building is [...]
Cast away: divorced men responsible for rising tide of houseboat demand August 5, 2018 The blazing summer has added to attractions of life on the water, and enabled houseboat sales to escape the wider slump in the capital’s residential property. “It’s been a bumper year for houseboats,” said Lana Wrightman, spokesperson for London’s largest waterside property estate agent, Riverhomes. “It’s like musical chairs trying to keep up with demand. [...]