Shoreditch hipsters fail to drag financial services from the City August 19, 2016 Financial services firms are still flocking to the City despite the attractions of hipster hubs such as Shoreditch and Old Street. Data from estate agent Stirling Ackroyd showed that between the the second quarter of 2015 and the first quarter of 2016 the number of financial businesses in City postcodes increased by 8.6 per cent. In [...]
UK Commercial Property Trust reports fall in asset value August 18, 2016 UK Commercial Property Trust (UKCPT) reported a fall in the value of its assets per share yesterday, down by 0.2 per cent in the six months to the 30 June. The news comes after Norway’s sovereign wealth fund cut the value of its UK real estate holdings due to the Brexit vote and the uncertainty [...]
Property of the Week: Tour de France presenter’s studio flat in Soho is ingeniously designed August 18, 2016 Simple living in the messy heart of London – that’s what this extraordinarily modern studio flat offers in Soho for £699,000. Owned by ITV’s Tour de France presenter Gary Imlach, it’s a perfect pied-a-terre tucked away in a gated period building on Broadwick Street. To get to it, you need to climb a set of [...]
Opinion: Rightmove’s housing index shows that London may have fallen, but it’s sunny in the Shires August 18, 2016 The latest housing index from Rightmove has caused a stir, revealing that prices have hit their lowest point since November and have dropped 1.2 per cent nationwide. Londoners in particular seem hardest hit with the average price falling 2.6 per cent. It’s very easy to put the entire blame on Brexit and increases in Stamp Duty, but [...]
New homes on sale in London this weekend: from Old Street’s industrial warehouses to family homes in Wimbledon Village August 18, 2016 City Wharf, Old Street From £770,000 Ten two bed apartments have been released for sale in this completed development on City Road. It’s in the heart of Tech City, which has just received a £25m boost from central government. In total, there are 64 studios to three bedroom apartments in the scheme overlooking the 19th [...]
House sales are suffering in areas that voted to stay in the EU August 18, 2016 The property market has become skewed by how people voted in the EU referendum, with areas that voted to leave the EU becoming more active after the Brexit vote – and in areas that voted to stay, buyers ran for the hills. The number of sales that have fallen through in areas that voted Remain jumped [...]
Norway’s sovereign wealth fund cuts the value of its UK property portfolio due to the Brexit vote August 17, 2016 Norway's sovereign wealth fund – the largest in the world – has cut five per cent off the value of its UK real estate portfolio due to the Brexit vote. Trond Grande, deputy chief executive of the 8,177bn kroner (£668bn) fund, said at a press conference in Oslo: "It's an extraordinary measure. "It was pointed out [...]
Houses in the West End are still selling like hotcakes, says CBRE August 17, 2016 Home sales have remained "strong" for CBRE after Brexit, with the company reporting it has exchanged on nearly £60m worth of residential property in the second quarter of this year. The transaction value achieved by CBRE was its second highest for the last four years. Read more: Here's everything that's happened to house prices since the Brexit vote Three [...]
Farm land prices expected to fall as demand falters due to uncertainty August 17, 2016 Demand for rural land has fallen over the last six months – and prices are expected to follow suit. According to the Royal Institute of Chartered Surveyors (RICS), 49 per cent of members expect prices for farm land to fall over the next few months. Read more: Everything that's happened to house prices since the Brexit [...]
First-time buyers are worried the interest rate cut kills their chances of saving for a deposit August 16, 2016 One fifth of 18 to 34 year old prospective buyers say they will find it difficult to save for a deposit due to the recent cut in interest rates. Research from MoneySuperMarket found 21 per cent of this age group think the interest rate cut will mean they will have to wait for longer to [...]