The City of London’s newest skyscraper has another new tenant and it isn’t even built yet December 14, 2016 One of the City’s newest skyscrapers on the block has secured another commercial tenant. Bermuda-based insurance provider Axis Capital have confirmed that they will move into 52 Lime Street, otherwise known as The Scalpel, by 2018. Insurance broker BPL Global has already bagged the 12th floor in the 35-storey structure, while Axis will take up residence on [...]
Loans to home buyers fell in October December 14, 2016 Loans to home buyers fell by eight per cent in October, despite the amount borrowers are paying towards interest rates hitting a historic low. First-time buyers borrowed £4.5bn, a monthly decrease of eight per cent, and a year-on-year drop of two per cent, according to figures from the Council of Mortgage Lenders (CML). Read more: [...]
This is what will happen to house prices in 2017 December 14, 2016 How will the UK's favourite asset fare in 2017? It's safe to say that the Brexit vote has not caused the immediate and catastrophic housing crash that former chancellor George Osborne was predicting before the referendum. But the outlook for property next year is not particularly rosy. Liberum analysts are expecting house prices to fall [...]
London has paid £15.1bn in property taxes December 13, 2016 London has paid a massive £15.1bn in property taxes according to the Organisation for Economic Co-operation and Development (OECD). New figures from the OECD show that the UK has the highest property taxes in the world, and London pays a fifth of the total collected. Read more: Top industry groups hit out at proposed changes [...]
UK house price growth slowed in October December 13, 2016 House price growth slowed in October, with prices increasing 6.9 per cent in the year, down from seven per cent growth in September. The UK average house price was £217,000 in October, up £14,000 annually, but unchanged from the previous month, according to the Office for National Statistics. Read more: Bellway boosted by Help to [...]
Bellway boosted by Help to Buy December 13, 2016 Bellway's share price was up two per cent this morning after the company said its sales grew by seven per cent, with reservations boosted by the government's Help to Buy scheme. The figures The housebuilder announced that its reservation rate was 176 per week for the 18 weeks from 1 August to 4 December, up from 165 per [...]
UBS just bought this former spice warehouse on the Southbank for £28.4m December 12, 2016 In a show of confidence in London’s property market, the real estate arm of UBS has bought a former spice warehouse in London’s Butler’s Wharf from LaSalle Investment Management. The Swiss financial services firm bought India House, a six-floor office development, in a bid to own a piece of the dynamic Southbank precinct, which has [...]
Bean there, done that: Kraft Heinz is moving into the Shard December 12, 2016 Until now, the Shard's tenants have been a mixture of media companies, swish hotels and restaurants and the odd finance giant. Now it has unveiled its new tenant – with a decidedly beanier flavour. Real Estate Management (REM), the company which manages the Shard, said Kraft Heinz is moving its European and UK headquarters to [...]
UK House prices are on course to fall below £300,000 in December December 12, 2016 The UK's house prices are on course to fall below £300,000 in December – and house price growth is likely to weaken next year, new figures have shown. The Rightmove House Price Index showed prices are on course to fall 2.1 per cent in December, after a 1.1 per cent fall in November. That will put [...]
London’s house prices had the UK’s lowest rate of annual growth last month December 12, 2016 Back in March, London was leading the UK's annual house price inflation, but the recent drop in prices and transactions in prime central property has led to annual change of just 0.1 per cent, meaning London's house prices had the lowest rate of annual growth in the country last month. For England and Wales as a whole, average [...]