Kitted-out office sector to be worth £126bn within 10 years June 13, 2016 The UK market for fully-kitted out offices could rise in value to a whopping £126bn in under 10 years, a new report has revealed. Currently valued at around £16bn, the so-called serviced office sector is projected to increase in value significantly by 2025, to £62bn on conservative projections and £126bn on more optimistic forecasts. Economic [...]
New homes on sale in London this weekend: from an old police station in Maida Vale to the old Pathe Building in Soho June 10, 2016 Westbourne place, Maida Vale From £550,000 A former local police station in Maida Vale, built in 1911 and designed by John Dixon Butler, is currently being converted into 25 apartments. Developer Redrow is retaining authentic architectural features, notably two original staircases, the Victorian brick facade, and the original “Police” sign at the entrance. The apartments, ranging [...]
Property prices in England and Wales fell in May as the market stalled ahead of the EU referendum vote June 10, 2016 In May house prices experienced the sharpest drop since November 2011 as the property market was plagued by uncertainty surrounding the EU referendum. Property values fell by 0.4 per cent in May in England and Wales – the lowest home sales in May for five years – according to data from Your Move and Reeds Rains estate agents. Read [...]
How landlords are softening the blow of buy to let tax changes June 10, 2016 The government's tax changes on second homes has produced a record demand for mortgages through companies in the first quarter of 2016, according to a report released today. Buy to let lending to limited companies surged to nearly 38,000 in the first quarter, which is more than for the whole of 2014, as landlords incorporate to [...]
Housebuilder share prices take a hit due to uncertainty over the outcome of the EU referendum June 9, 2016 Housebuilder share prices took a hit this morning as uncertainty over the outcome of the EU referendum cast a shadow over the property market. Taylor Wimpey shares were down 1.53 per cent in late morning trading to 186.20p, Barratt Developments shares dopped by 1.41 per cent to 559.00p and shares in Berkeley Group were down 1.85 [...]
Bellway shrugs off Brexit uncertainty as it’s boosted by London Help to Buy – but shares drop on house price report June 9, 2016 It seems reports of the death of the housing market are greatly exaggerated, after housebuilder Bellway reported the market continued to be "robust". The figures Completions were expected to rise 10 per cent in the full year to the end of July, while sales increased eight per cent to 196 per week , up from 182 per week in 2015. Bellway said it [...]
Experts have predicted house prices will drop for the first time since 2012, with London hit hardest June 9, 2016 Experts are predicting UK house prices will drop for the first time since 2012 in the coming months. According to a survey conducted by the Royal Institution of Chartered Surveyors (RICS), members, UK house prices will drop rather than rise in the next three months. London is expected to be the hardest hit with 43 per [...]
Home lending slowed in May as the EU referendum cast a shadow over the property market June 9, 2016 Home lending slowed in May ahead of the EU referendum as political uncertainty cast a shadow over the property market. There were 65,113 house purchase approvals in May, down 1.7 per cent from 66,250 in April – a 12-month low. This decline means house purchased approvals have fallen by more than 10 per cent over [...]
Londoners are now spending 70 per cent of their income on rent and bills June 8, 2016 Londoners are now shelling out a staggering 70 per cent of average income on their rent and essential bills, new data shows. Analysis from Portico London estate agents shows that for three and a half days of a Londoner's working week earns them enough to pay for rent, as well as taxes, housing costs and [...]
Rental supply fell in May as stamp duty hike scared buy to let landlords from the market June 8, 2016 The government's stamp duty hike on second homes started to take its effect on the rental market in May as buy to let landlords were put off from buying, reducing the number of properties available to rent. There was a 15.4 per cent drop in new rental property listings in May compared to April, according to [...]