Government pledges extra £32m for estate regeneration December 8, 2016 The government has pledged to spend an additional £32m on regenerating the country's dilapidated housing estates. The scheme, launched by the department for communities and local government, will involve councils, developers and housing associations bidding for a share of the cash. Read more: This is how far house prices have fallen in Chelsea this year Most [...]
Investment in Legal & General’s build to rent fund hits £1bn December 7, 2016 Legal & General's build to rent (BTR) fund has attracted £170m in investment, bringing its total value to £1bn. Major institutions have now invested in the open-ended fund, according to Legal & General Investment Management Real Assets (LGIM Real Assets). The investors were not disclosed. Read more: Revealed: the luxury London properties with price cuts of [...]
Peabody and Family Mosaic housing associations are merging December 7, 2016 Peabody and Family Mosaic housing associations are merging to create a new organisation with assets worth £6bn. The merged housing association, which will be named Peabody, will be responsible for 55,220 homes across London and the South East. Read more: Revealed: the luxury London properties with price cuts of over 30 per cent The new [...]
The London luxury properties that have had their prices slashed by over 30 per cent December 7, 2016 London's high-end homes are in crisis. House prices in prime central London have been falling since 2014, when former chancellor George Osborne slapped higher rates of stamp duty on homes worth over £1m. This year, he introduced a further three per cent hike for people buying second homes. Read more: This is how far house prices have fallen [...]
UK house price growth slows as affordability concerns start to mount December 7, 2016 UK house price growth slowed in November to 0.2 per cent, as consumers start to feel the squeeze of prices rising faster than wages. Prices had increased by 1.5 per cent in October, which helped drive the annual rate of growth to six per cent, up from 5.2 per cent in the year recorded last [...]
Remortgaging valuations surge and drive rest of mortgage market as homeowners try to lock in low interest rate deals December 7, 2016 Homeowners scrambling to lock into mortgage deals before a rise in interest rates drove remortgaging valuations to surge almost 25 per cent year-on-year in November. Remortgaging outperformed all other mortgage market valuation activity last month, according to research from Connells Survey & Valuation, rising 4.9 per cent compared to October. Read more: Time to remortgage? [...]
Wanted: A bold government housing strategy that delivers for the young rather than the old December 6, 2016 If Brexit wasn’t dominating British politics, then one other issue would be: the lack of housing. If you know someone under 30, living in London and able to afford their first home, then your friend belongs to the country’s richest percentile. For most people, even for those on what used to be a decent median income, owning [...]
There will be a 30 per cent fall in property development activity in 2017 December 6, 2016 Commercial property development in the UK will slow substantially next year, Savills has warned, as lenders and borrowers seek to avoid taking any risks. The property firm said there will be a 30-40 per cent drop in development activity in 2017, with London being hit particularly hard. Read more: Risk of more pain for UK [...]
This is how far house prices in Chelsea have fallen this year December 6, 2016 House prices in Chelsea just keep falling. As George Osborne's stamp duty reforms and the Brexit vote continue to hammer the market, prices on high-end homes in Chelsea fell 13 per cent in the year to November. Read more: House prices are already shooting up along the Elizabeth line The figures from Knight Frank show that [...]
Civil servants are moving to Canary Wharf December 6, 2016 Civil servants are moving to Canary Wharf in a bid to save them from working in "ugly and expensive buildings". The 5,700 employees from various departments are moving from Whitehall to 10 South Colonnade, a building owned by Canary Wharf Group. The relocation should be completed by the end of 2018. Read more: This is what your [...]