Vendors trying to shift property after the Brexit vote have cut prices by nearly 10 per cent in some parts of London August 10, 2016 Vendors trying to shift their property in the aftermath of the Brexit vote and stamp duty changes are cutting prices by nearly 10 per cent in some parts of London. Data from Zoopla shines a light on just how many houses have had their prices reduced, and by how much. Read more: Here's everything you need to [...]
Britain’s biggest landowner, Duke of Westminster, dies aged 64 August 9, 2016 Gerald Cavendish Grosvenor, Britain’s biggest landowner, has died aged 64 due to a sudden illness. The billionaire, known to be worth £8.3bn, owned swathes of land in London. According to Forbes, he's the third richest person in the UK and the 68th richest billionaire in the world. Read more: Britain ranked fifth richest country in the world [...]
Central London shops crowned “safe haven” investments – but prime residential prices continue to fall August 9, 2016 Central London shops have been a "safe haven" for investment after the Brexit vote – but prices for high-end homes in central London have been falling. Investors bought up £1bn worth of prime retail property in central London during the first half of the year, according to CBRE – and total investment is set to [...]
Savills’ share price edges up on dividend hike and strong revenue growth August 9, 2016 Savills' share price benefited from a strong set of results and a divident hike this morning, as the estate agent asserted its "resilience" in the aftermath of the Brexit vote. The company's share price was up 1.02 per cent in morning trading. The figures Revenue at Savills was up 14 per cent, increasing from £547m in 2015 to £627.7m this year. [...]
Rents continued to climb in July – but the rate of growth is slowing August 9, 2016 Rents kept climbing in July – but the rate of growth is cooling in the second half of the year. According to data from Homelet, rents agreed on new tenancies in the UK over the past three months increased by 2.3 per cent as compared to the same period last year – excluding London. Read [...]
Savills investment management launches €300m fund August 8, 2016 Savills investment management has launched a €300m fund on behalf of two Italian investors. The Mercury fund has been launched for CONAD, the largest independent retailer consortium in Italy, and the Italian insurance group Gruppo Cattolica Assicurazioni. The fund will allow three CONAD cooperatives to sell and lease back retail properties across central and northern Italy on long-term leases, [...]
Office capital values in the City of London hit after the Brexit vote August 8, 2016 Commercial property capital values fell in July due to heightened uncertainty after the Brexit vote, and offices in the City of London were the worst hit. Capital values fell by 3.3 per cent, according to CBRE's monthly index, with the value of offices in the City of London falling by 6.1 per cent. Read more: Commercial and City [...]
Here’s how much the UK government made from property taxes last year August 8, 2016 Anyone who thought this year's stamp duty hike on second homes was a bit harsh, we suggest you look away now: new research has suggested the government made a whopping £67bn on stamp duty, council tax and business rates last year. According to figures from the Taxpayers' Alliance (TPA), the government raked in £1.8bn or 2.8 per cent more in 2015 [...]
Commercial and City property prices crumble following Brexit vote August 7, 2016 The extent of damage to commercial property prices caused by the UK vote to quit the European Union will be laid bare this week. Analysts at UBS Asset Management expect figures from Investment Property Databank to show on Friday that commercial property values fell by four per cent in July with the value of City offices [...]
Good, bad, ugly? Nobody can agree on what the recent house price data means August 5, 2016 Halifax said this morning that house prices fell between June and July and that annual and quarterly rates of house price growth are slowing. City A.M. has heard talk of buyers wanting 10 per cent off the price of properties because of the Brexit vote, and earlier this week, Knight Frank said prices for high-end houses in [...]