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 [...]
OneSavings Bank chief executive explains why his business is safe as houses August 24, 2016 Despite worries the referendum would wobble housing demand, the boss of OneSavings Bank has found particular niches of the market to be quite lucrative. In particular, Andy Golding told City A.M. the bank was focusing on the "normal stock" side of the market in London – as opposed to the "high-end, crazy value stuff" – which was "still very [...]
Rents are increasing fastest in the South East and the East of England, not London August 24, 2016 Rising rents are a headache for Londoners who can't afford to put down a deposit on a home – but price increases are actually larger outside the capital. According to data from the Office of National Statistics (ONS), rents grew 3.5 per cent over the past year in the south east, compared to a rise [...]