Martin & Co’s share price jumps as company hails recovery in the lettings market September 14, 2016 Property group Martin & Co's share price jumped more than seven per cent in early morning trading as the company hailed the recovery of the lettings market after the Brexit vote and raised its interim dividend 11 per cent to 2p per share. The group said this morning that business for estate agents had been dampened by [...]
A shortage of land could kill off London’s e-commerce revolution September 13, 2016 Recent reports that Amazon is set to test drone deliveries in partnership with the UK government is just the latest salvo in the fiercely contested battle between the e-commerce giants that are transforming the way we shop. The move also demonstrates the challenges of a constantly evolving logistics sector. City A.M. readers are at the [...]
The housing minister just suggested the government’s 200,000 starter homes pledge might include rental properties September 13, 2016 The remit of the government's promise to deliver 200,000 so-called starter homes by 2020 could be expanded so it includes purpose-built rental homes in the figure, the housing minister suggested today. During a question and answer session at the Resi 2016 conference in Wales, Gavin Barwell said there was "a little bit of tension between the overall [...]
Developer Irvine Sellar submits plans for the Paddington Cube to Westminster City Council after “The Shard of west London” was rejected September 13, 2016 Revised plans for a £775m development near Paddington Station have been submitted to Westminster Council. The plans from Great Western Developments and Sellar Paddington Limited (SPL) will transform the former Royal Mail site to create a 360,000 sq ft cube-shaped office block, which will be 14 storeys tall. A decision on the proposal is expected in [...]
House prices continued their upward climb in July, according to the Office of National Statistics September 13, 2016 House prices increased by 8.3 per cent in the year to July, according to the Office of National Statistics (ONS) – falling from 9.7 per cent growth in the year to June 2016. The average UK house price increased to £217,000 in July 2016, a £17,000 increase on July last year. That made the average [...]
House prices grow at slower pace in August September 13, 2016 Talk of a house price bubble bursting came to naught in August as house prices continued to grow – although the rate slowed. Average house prices now stand at £292,921 meaning the average homeowner is sitting on £12,101 more equity than this time last year according to Your Move and Reeds Rains’ monthly house price [...]
Inside the lavish £3.9m apartments at Regent’s Park’s refurbished Park Crescent September 12, 2016 It's not often you get a chance to own a slice of London's architectural history. But with refurbishment on one of the capital's most iconic addresses complete, apartments have gone on sale – and you can buy one, for a cool £3.9m. Park Crescent, overlooking Regent's Park, was designed by architect John Nash (of Buckingham Palace and [...]
Rent on the average UK one-bed flat has now surpassed £1,000 per month September 12, 2016 Have warnings over the government's attempts to reduce second home buying just come to pass? New figures have suggested the average UK one-bed flat now costs tenants more than £1,000 a month. Ouch. The figures, by Landbay, showed the average UK one-bed hit £1,010 a month in August, 67 per cent of the average disposable [...]
First time buyers still waiting for Brexit boost as banks demand higher deposits September 12, 2016 The Brexit vote has not been the boon for first-time buyers many forecasters expected it might be, new analysis of prices and mortgage data has revealed. In the aftermath of the referendum, many expected house prices across the country to dip, making it easier for hard-pressed savers to get a foot on the ladder. However, [...]
Britain’s biggest buy-to-let investors have sold nearly half their £250m property portfolio September 11, 2016 A couple crowned Britain's biggest buy-to-let landlords have sold off nearly half of their £250m property portfolio and called time on the era of the "amateur landlord". Fergus and Judith Wilson became notorious for buying up properties to rent when the buy-to-let boom kicked off in the 1990s. Read more: Mapped: House price changes in [...]