UK house prices were flat in October November 2, 2016 House prices were flat in October, as the housing market struggled to regain the momentum it lost following the EU referendum. According to data from Nationwide, there was no house price growth month-on-month in October. House prices increased 4.6 per cent year-on-year, down from an annual growth of 5.3 per cent in September. Read more: [...]
Housebuilder Persimmon shrugs off Brexit vote but says it’s staying cautious November 2, 2016 Housebuilders' shares were among the hardest hit after the Brexit vote – but it seems investors may have been over-cautious, after Persimmon reported a 19 per cent jump in sales. The figures In a trading statement this morning Persimmon, the UK's biggest housebuilder, said since it reported its half-year results at the end of August, sales have [...]
Met Police hands over keys of New Scotland Yard HQ to new owners after 49 years November 1, 2016 The Metropolitan Police yesterday handed over the keys of its New Scotland Yard headquarters in one of the biggest property deals to complete since the UK’s Brexit vote. BL Development Limited, an investment vehicle controlled by UAE-based Abu Dhabi Financial Group, acquired the building for £370m in December 2014. Read more: New New Scotland Yard? [...]
London boroughs prepare for £9.5bn business rates hike November 1, 2016 Business rates across all the boroughs of London will rise by £9.53bn over the next five years, according to new analysis. The government has re-evaluated the business rates payable for the first time in seven years, and the new tax rate will come into effect in April next year. Research by business rates specialists CVS [...]
Airbnb renting gives you double the rental income of a long-term let November 1, 2016 The rental rate for staying in an Airbnb home is double that of a long-term rate, providing a potentially lucrative alternative for landlords. According to research by data company Propcision, renting out an Airbnb flat or house in Newham, Merton, Southwark or Camden offers the best return as compared to long-term renting. The worst locations for [...]
Sadiq Khan hits out at Boris Johnson for “mess” left at Old Oak Common November 1, 2016 Sadiq Khan has given his full backing to the huge regeneration at Old Oak Common, but lashed out at his predecessor Boris Johnson for leaving the plans in "a mess". Laying out the findings of his review of the Old Oak and Park Royal Development Corporation (OPDC), the London Mayor criticised Boris Johnson for rushing the [...]
London’s house prices won’t rebound until 2020, according to JLL November 1, 2016 London's housing market won't recover from the hit of the referendum until 2020, property experts have predicted. According to research by JLL, the UK housing market will be "more subdued" over the next few years, and London house prices will recover in 2020 "assuming Brexit negotiations are not too detrimental". Read more: This is how the third [...]
London must shake off its complacency over housing and infrastructure if it’s to thrive post-Brexit October 31, 2016 Rarely has a ranking of the world’s greatest cities been released in the past few years without London at its top, or very near it. PwC recently named the capital the world’s best city for opportunity, praising its economic clout, its attractiveness to foreign direct investment, its highly skilled workforce, and its status as a [...]
We can renew London once again post-Brexit – if we channel the can-do spirit of our ancestors in facing up to our housing and infrastructure challenges October 31, 2016 London has always risen again. This is the 350th anniversary of its greatest resurrection. Our ancestors in 1666 reacted to the Great Fire with a speed and coordination that defies belief. They tax-incentivised developers, ran the first national charitable appeal, invented modern fire insurance, and worked day and night for free. Compared with the Great Fire, [...]
No Brexit blues for upbeat housebuilders, despite concerns around skills shortages and costs of materials October 31, 2016 Housebuilders are refusing to be knocked back by any Brexit blues, as the industry remains optimistic on what the future holds, research out today has found. Lloyds Bank Commercial Banking found average five-year investment plans had increased by around 17 per cent over the last year, despite over a third (36 per cent) in the sector confessing [...]