CapCo cuts value of Earls Court development as Brexit vote creates concern over London house prices July 26, 2016 London property company Capital & Counties Plc (CapCo) has cut the value of its Earls Court development by 14 per cent due to worries about a fall in London house prices after the Brexit vote. In its interim results, CapCo said it valued the Earls Court site – which will create 7,500 homes – at [...]
Mortgage lending fell in June but has “bounced back” since the stamp duty hike according to the British Bankers’ Association July 26, 2016 Mortgage lending dropped in June as banks approved the fewest mortgages since March last year and cut business lending. House purchase approval numbers were 11 per cent lower than in June 2015, but have "bounced back a little" from the numbers seen after the introduction of a stamp duty hike on second homes, the British [...]
Cheer up: The value of the average UK home rose £21 per day in the first half of this year July 26, 2016 It hasn't all been bad news around house prices since the Brexit vote: it turns out the average home rose in value by £21.07 a day in the first half of the year, according to new figures. Research by property portal Zoopla suggested the average home is now worth £290,725, up £3,847, or 1.3 per cent, [...]
Ally Pally theatre set for a 2018 curtain raising after £26m refurb July 25, 2016 Plans to refurbish the Alexandra Palace theatre 80 years after it closed have been unveiled. The multi-million-pound project is aiming to reopen the 1875 theatre for modern audiences in 2018. The Heritage Lottery Fund has pledged £18.8m to the project with £6.8m coming from Haringey council. The Alexandra Park and Palace Charitable Trust, which runs the [...]
This PR firm refused to share a building with a charity helping ex-offenders July 25, 2016 A fashion PR firm has refused to share its Islington office building with a charity that helps women ex-offenders get into work, City A.M. understands. Lee Publicity – a home and fashion PR company – reportedly took exception to charity Working Chance running workshops for ex-offenders in its building. Working Chance runs workshops to help women write [...]
The rental market slowed after Brexit – and estate agents are seeing landlords worried about uncertainty July 25, 2016 The rental market stagnated immediately after the Brexit vote, according to a survey by the Association of Residential Letting Agents (ARLA). The report found that more than one in ten (12 per cent) of letting agents have reported a dip in rent, but 77 per cent said there was no change in rents. Read more: Rental [...]
The most (and least) affordable places to live in Britain July 24, 2016 If you're a first-time buyer looking to jump on to the first rung of the ladder, it's time to look beyond London to get the most bang for your buck. The top 10 least affordable areas for wannabe homeowners are located in the capital as the average price of property for first timers jumped 12 [...]
This graph shows the changing landscape of the UK mortgage market July 22, 2016 This graph depicts how dramatically the UK mortgage market has changed over the last decade. The chart, created by Statista from ONS data, lays bare how the 25-year mortgage has declined in the last 10 years. Read more: Housing market was buoyed by mortgage momentum on eve of EU referendum In 2006, 25-year mortgages commanded a 42.2 per cent [...]
Trying to sell your property? Here’s everything you need to know about the UK’s housing market after the Brexit vote July 22, 2016 Before the EU referendum, politicians were forecasting a housing market crash. We've now had a fair bit of data post-Brexit – here's everything we know so far. The market is slowing down You can't understand the housing market without looking at transaction volumes. While surveys have suggested asking prices have fallen over the past few weeks and [...]
Homeowners worried house prices are falling – but dip may prove temporary July 22, 2016 Homeowners across the country think the value of their houses fell over the last month for the first time in more than three years. With talk of a slowdown in transactions and pre-referendum warnings about a house price crash, the house price sentiment index (HPSI) compiled by IHS Markit and estate agents Knight Frank, published [...]