Housebuilders’ share prices suffer after construction output falls August 2, 2016 The post-Brexit vote rollercoaster for UK housebuilders is getting a bit predictable. After disappointing construction data was released this morning – albeit not as bad as expected – the big housebuilders' shares have taken a hit once again. Read more: Construction output tumbles at fastest pace since 2009 At time of writing, Berkeley Group's share price was [...]
Home ownership has fallen to its lowest in 30 years across all major English cities – not just London August 2, 2016 Home ownership has fallen to levels last seen in the UK in 1986, a major new report has revealed – and it's not just in the capital where it's hitting hardest. The report, by think tank the Resolution Foundation, showed the proportion of Britons owning their own home has fallen eight percentage points since it peaked at [...]
Opinion: Why more transparency is needed on letting fees to make sure both landlords and tenants are getting a good deal August 1, 2016 There has been much debate in the press and both Houses of Parliament regarding the subject of letting agents’ fees and whether these are fair or reasonable. Unfortunately as far as I am concerned, they are neither. The all-too-common practice of asking tenants to pay exorbitant administration charges, and a host of other overheads, to [...]
New homes on sale in London: from apartments on London City Island to family homes in Edgware August 1, 2016 London City Island From £405,000 A summer party heralded the sale of 100 new homes on the enormous London City Island complex on Saturday. Developer EcoWorld Ballymore offered champagne ice pops, a BBQ and a DJ to entice prospective buyers to look at the studio to four bedroom apartments on the Leamouth Peninsula. There will be [...]
Building suppliers to provide health check for UK construction July 31, 2016 Two building materials suppliers' results next week will shed light on the outlook for the UK construction industry. Builders across the country rely on the likes of Travis Perkins and Ibstock for their bricks, cements and roofing materials — meaning their results act as a litmus test for the wider sector’s health. Read more: This company just proved bricks [...]
Westfield shopping centre in Stratford expects more visitors in 2016 than it received in the year of the Olympics July 29, 2016 Westfield's Stratford shopping centre is expecting higher footfall than it had in the year of the Olympics, thanks to regeneration in Stratford. John Burton, Westfield's head of development, said there had been a plan to have 4,000-5,000 new homes built in Stratford – but now, 10,000 new homes are expected in the Stratford City site. Read more: Westfield to create [...]
Mortgage approvals in the UK fell to a year low in June July 29, 2016 Mortgage approvals in the UK fell to their lowest point since May 2015 in the period leading up to the country's referendum on EU membership. According to the Bank of England, 64,766 mortgages were approved in June – down from the 66,722 approved in May. Read more: Everything you need to know about the UK's housing [...]
Mapped: First-time buyer house prices in every London borough July 29, 2016 Thinking of buying your first home? Thinking of helping your children buy their first home? Here's what you're up against in London. Estate agent eMoov.co.uk has released the average house price for first-time buyers in every London borough – and it's not very encouraging. Read more: Everything you need to know about the UK's housing market after [...]
Foxtons cancels its special divi as profits plummet on Brexit worries July 29, 2016 Foxtons was bearing the brunt of its decision to focus on the London market today, after profits fell 42 per cent. The figures In a statement this morning, the estate agent said pre-tax profits had fallen 42 per cent to £10.5m in the six months to the end of June. Revenues fell 3.1 per cent to £68.8m, net free cash flow almost [...]
This Soho property boss is “on a mission” to make China town less Chinese July 28, 2016 China town is getting a revamp – and it's going to become less Chinese. Speaking to City A.M., the chief executive of Shaftesbury – which owns 3.2 acres of land in Chinatown – said there are too many Cantonese restaurants in China town, and he hopes to attract more varied set of restaurateurs to the heart of London. Read [...]