This is what will happen to rents next year December 19, 2016 It has been an eventful year for landlords. They have been under intense pressure from the government in 2016, starting in April, when former chancellor George Osborne's stamp duty hike on second homes came into effect. Then, when Philip Hammond took over, he used his first Autumn Statement to ban letting agents' fees for tenants, saying [...]
Letting agents expect rents to rise next year December 19, 2016 Eight in ten letting agents think rents will rise next year as a result of chancellor Philip Hammond's decision to ban letting agents' fees for tenants, according to the Association of Residential Letting Agents (ARLA). Hammond's announcement – which was a part of his Autumn Statement at the end of November – has angered both [...]
This is the best place to live in the UK December 17, 2016 Winchester has been crowned the best place to live in the UK. The local authority has won Halifax's Quality of Life survey because it has a high life expectancy, high employment rate and high scores in surveys on personal well-being. The Orkney islands came second, followed by Wychavon in Worcestershire. Read more: London house prices [...]
The tech revolution – not Brexit – will reshape the face of London December 16, 2016 London's office market will change more in the next five years than in the 15 years since the 2001 dot-com crash, as a combination of factors much bigger than Britain’s exit from the EU come into play across the capital. While there has been so much discussion on the future of London’s banking cluster since [...]
London renters get some relief as prices fall December 16, 2016 Rents have been growing across the country this year – but in London, the average monthly payment has fallen, with the biggest falls taking place in the centre of the capital. London rents went into negative territory in May this year, and have fallen by 0.31 per cent from January to November. During the same [...]
London house prices are growing at slowest rate for over three years December 16, 2016 Annual house price growth fell to 7.6 per cent in November, its lowest level for more than three years. The figures from Hometrack show how tax changes and the Brexit vote have been weighing on London property. In November 2015, house price growth was 11.8 per cent year-on-year. Read more: This is how far house prices will fall [...]
Heron Tower still standing as overseas lenders flock to financing deal December 15, 2016 The City of London’s tallest skyscraper has attracted new lenders to the UK commercial property market, as its financers reached their syndication target. ING and Landesbank Baden-Wurttemberg (LBBW) have now completed the syndication of their £400m loan against Heron Tower. The pair have syndicated over £200m, exceeding their 50 per cent target. It is understood [...]
Estate agent Lambert Smith Hampton is up for sale December 15, 2016 Countrywide has put estate agents Lambert Smith Hampton up for sale, according to reports. According to Estates Gazette, Countrywide are hoping for a sale to close next month and is making the sale through Deloitte. Read more: FTSE reshuffle: Travis Perkins, DFS and Countrywide are on the way out Countrywide issued a profit warning last [...]
One in five first time buyers have been given a hand by Help to Buy December 15, 2016 One in five house purchases made by first time buyers are now being supported by the government's Help to Buy Isa. The scheme, which was started on 1 December last year, gives aspiring home owners a 25 per cent boost to their savings when buying a property worth £250,000 or less. The price limit rises to [...]
Chinese mega cities increase dominance in Schroders Global Cities 30 index December 15, 2016 | City Talk Fund manager Hugo Machin explains the trends behind the latest moves in the Schroders Global Cities index Chinese cities had a strong showing in the first Schroders Global Cities 30 index, launched in the summer. In the first update to the index, that dominance has only increased. Four of the top five spots are now [...]