House prices went up in August – but Nationwide says the outlook post-Brexit vote is “cloudy” August 31, 2016 Despite the recent Brexit vote – and changes to stamp duty rules – pouring cold water on new buyer enthusiasm, house prices picked up again in August. The Nationwide house price index for August showed prices increasing by 0.6 per cent, with annual house price growth increasing to 5.6 per cent, up from 5.2 per cent in [...]
Berkeley and housing stocks risk being evicted from FTSE 100 index August 31, 2016 Housebuilder Berkeley Group could be booted from the FTSE 100 today after a near 30 per cent slump in its share price so far this year. Building materials company Travis Perkins is also teetering on the edge of the blue-chip index with shares now down about 12.5 per cent since the UK voted to quit the [...]
These are the Night Tube stations with the highest rental yields August 30, 2016 The Night Tube – which finally arrived earlier this month – will drive up property prices in London's outer areas, according to estate agent Portico. Zones 3, 4, and 5, are expected to do well from the all night underground service, with the highest rental yields on the network are concentrated in the outer zones. Rental yield is calculated as [...]
Mortgage approvals fell to 18-month low in the first full month since the Brexit vote August 30, 2016 Mortgage approvals hit an 18-month low last month, according to figures from the Bank of England. In the first full month after the Brexit vote, approvals fell to 60,912 – down from 64,152 approvals in June. The number of approvals has been falling since March, when the stamp duty hike on second homes came into effect. There [...]
Iconic Art Deco cinema in east London to be knocked down and turned into a Lidl August 30, 2016 One of the few Art Deco cinemas remaining in London is set to be knocked down and replaced by a Lidl. The Towers Cinema on Hornchurch High Street, which is 80 years old, will be bulldozed despite local residents opposing the plans. Hundreds of residents signed a petition calling for councillors in Havering to protect the [...]
House price growth is driving up prosperity outside London – here are the cities that beat the capital August 30, 2016 London remains the most prosperous city in the UK – but rising house prices are creating wealth hot-spots in areas outside the capital. House prices have grown faster in both Bristol and Cambridge, up by 14 per cent and 13 per cent respectively over the past year, according to Barclays. In London, prices have increased [...]
US hedge fund eyes up property in European countries set to benefit from Brexit August 28, 2016 US hedge fund Marathon is investing in property in European hubs that it expects will benefit from Britain leaving the EU. The $13bn (£9.9bn) fund is looking at Germany, Ireland, France and the Netherlands in particular, according to the Financial Times. Bruce Richards, co-founder and chief executive of Marathon, said these countries "have the most stable outlook [...]
Brickgate: A war is kicking off in the construction industry after estate agents claimed there is a shortage of bricks August 25, 2016 Forget Jeremy Corbyn versus Owen Smith – there's a new feud in town. You might say relations between these two are rather stony… Brick makers have taken issue with research put out earlier today by the National Association of Estate Agents (NAEA) and the Centre for Economics and Business Research (Cebr), which suggested not only [...]
The number of new homes completed fell in the second quarter August 25, 2016 The number of new homes completed fell in the three months to the end of June on the year before, suggesting fears over the outcome of the EU referendum were worrying builders. Some 34,920 new homes were completed in the three months between the beginning of April and the end of June, two per cent [...]
A Brexit brick shortage is threatening to make the UK’s housing crisis worse August 25, 2016 If the housing crisis keeps you awake at night, start worrying about this: even if builders went on a housebuilding frenzy today, the UK would need 1.4 billion bricks – which it doesn't have. And that's without the effects of EU referendum… Figures published by the National Association of Estate Agents (NAEA) and Cebr today showed the average new [...]