After a gloomy RICS survey, should we be prepared for big falls in UK house prices? August 12, 2016 Andrew Craig, an independent financial adviser and founder of Plain English Finance, says Yes. We have already seen significant falls in house prices in the UK if, as should be the case, you measure such things in currency units other than pounds sterling. If you bought a property worth £1m around 10 years ago, that property [...]
Opinion: Law firm TLT outlines the challenges facing Sadiq Khan if he wants to keep his housing promises August 11, 2016 Targets have a way of tripping politicians up and Sadiq Khan may regret some of the ones he proposed in the run up to the election to help ease the housing problem in London. His campaign pledge to set a goal of 50 per cent affordable homes in any new development now seems better politics [...]
Property Entrepreneurs: Meet the engineer behind Basestone whose innovative software idea is saving the construction industry time August 11, 2016 No one likes having their time wasted. And it was precisely that issue that led Alex Siljanovski to come up with the idea of Basestone, a collaborative tablet and web-based tool that is making building sites across the capital more efficient, from a single home extension to the new Crossrail stations. Basestone puts all the [...]
Holiday Homes: Austria is on the up as Brits look to buy second homes that will maintain yields all year round August 11, 2016 If you need to get away from all the Brexit chatter, I know the perfect place to get some much-needed perspective. Over in the Austrian Alps, those dark clouds that dog us in the UK are lined with silver. Figures released from the Austrian National Tourist Office (ANTO) this year have shown that the country’s [...]
Audley Retirement’s CEO moots an IPO in 2018 August 11, 2016 The boss of the retirement property company Audley Retirement has mooted a potential IPO for 2018. The flotation would value the company at hundreds of millions of pounds. He said the current market was also an opportunity for Audley to move into the London. Previously, London was so overheated that Audley couldn’t get a look-in – but as [...]
The number of mortgages in arrears and repossessions fell in the last quarter August 11, 2016 The number of mortgages in arrears continued to fall in the second quarter, reaching its lowest level since records began. According to the Council of Mortgage Lenders (CML), at the end of June there were 92,500 mortgages in arrears of at least 2.5 per cent of the total mortgage outstanding – down from 95,900 at [...]
Businesses went berserk for office space in central London after the Brexit vote August 11, 2016 Businesses flooded back into central London after the Brexit vote, new research has suggested – with the amount of new office space leased by firms jumping by 24 per cent. Research by CBRE suggested businesses leased 980,400 sq ft of office space in July, a quarter more than in June and the strongest monthly average [...]
Derwent London’s share price suffers as the property company downgrades rental forecast August 11, 2016 Property landlord Derwent London's share price fell this morning after the company lowered its rental growth forecast due to the Brexit vote. In its interim results for the half year ending 30 June, Derwent London said: "the outcome of the EU referendum may lower activity", and reduced its estimate of rental growth from between five and eight per [...]
Housing market activity fell after the EU referendum, according to chartered surveyors August 11, 2016 Activity in the housing market is projected to weaken in the coming months, according to chartered surveyors. The Royal Institute of Chartered Surveyors (RICS) said house price growth faltered in July and the outlook for house price growth "remains negative" in the aftermath of the Brexit vote and changes to stamp duty tax on second homes. Read more: Everything [...]
House prices in the City and its fringes have boomed in the last five years August 11, 2016 House prices in the City and the surrounding boroughs have soared over the past five years as the centre of London has become a more attractive place to live. City fringe areas such as Clerkenwell, Shoreditch and Wapping have proven particularly popular, where prices have jumped by 47 per cent since 2011, according to research [...]