British Property Federation calls on chancellor Philip Hammond to bolster the build to rent sector October 13, 2016 The property industry is calling on chancellor Philip Hammond to focus on the build to rent sector and cut new stamp duty taxes. According to the British Property Federation (BPF), the number of properties in the build to rent sector has jumped 200 per cent over the past year, delivering 67,000 homes. Read more: This [...]
RICS says UK housing market back on track – but London house prices will fall October 13, 2016 Demand for housing is returning to the capital after a chilly period for the market both before and immediately after the EU referendum in June. The Royal Institute of Chartered Surveyors (RICS) has said more chartered surveyors are reporting an increase in buyer enquiries, up for the first time since February. Read more: This is [...]
Housing market activity picked up in August following July’s dip October 12, 2016 Lending for house purchases increased 11 per cent in August as confidence started to return to the UK housing market. Homeowners borrowed £12.2bn in August, according to the Council of Mortgage Lenders (CML), up 14 per cent month-on-month and up 11 per cent year-on-year. Read more: This is how sterling's unstoppable slide will affect UK [...]
This is how far London house prices fell in the third quarter October 12, 2016 London's house prices have underperformed in the third quarter as the capital recovered from the shock of the Brexit vote and the uncertainty afterwards. House prices fell 2.5 per cent in the third quarter, following on from a 0.5 per cent fall in the second quarter, according to data from Halifax and IHS Markit. London's decline compared [...]
Housebuilders’ share prices struggle towards the pre-referendum summit after positive outlook from Telford Homes and Countryside October 12, 2016 Telford Homes' share price jumped 4.7 per cent in early morning trading after the company issued a confident trading update, pulling other housebuilders towards their pre-referendum prices. Countryside Properties' shares were also on the up – increasing 3.5 per cent at time of writing – when the housebuilder said any impact from the June referendum had been mitigated. [...]
This is how sterling’s unstoppable slide will affect UK house prices October 12, 2016 After a freak six per cent fall when markets opened in Asia last week, sterling is in free fall. The fall obviously has implications for people going abroad – but what about people here at home? We asked the experts what the flash crash will do to UK house prices. Read more: This is how the [...]
New Nobu Hotel in Shoreditch says there’s nothing fishy about Brexit, is hungry for global tourists October 11, 2016 The team behind the upcoming Nobu Hotel in Shoreditch hope to capitalise on Britain’s tumbling pound by luring wealthy foreign visitors. The five-storey, 150-room hotel on Willow Street in Hackney – originally slated to launch in 2014 but delayed by “construction issues” – will finally open its doors in spring 2017, just in time for [...]
Official statisticians reveal what Britons think will make them the most money for later years October 11, 2016 Britons think the best way to save for retirement is to invest in property rather than a pension scheme, according to research by the Office for National Statistics (ONS). Although respondents to the ONS survey admitted that an employer pension scheme was a safer way to save, nearly half felt that investing in bricks and mortar was best way to [...]
Hipster hammering: City Fringe offices landed with huge business rate increases October 11, 2016 London's hipster office hubs will be under intense pressure when the new business rates come in next year, as new figures highlight the extent of the tax increases that are set to burden the City Fringe. The government has published its first business rate re-evaluation for seven years. The new tax for each property is based [...]
The average price for a detached family home in London has hit £1m October 11, 2016 The average price for a detached family home in London has hit £1m. According to research by Hamptons International, families looking for a detached home in London now pay an average £1,028,376, up from £963,510 last year – an annual price increase of 6.7 per cent. The disparity between the price of detached family properties [...]