Opinion: Why canny investors need only look for co-working spaces to find London’s housing hotspots June 16, 2016 London’s biggest employment story during the last decade is Tech City, surrounding Old Street Roundabout. In recent years Tech City has undergone significant redevelopment, with investment from companies such as Cisco, Facebook, Google, Intel and McKinsey & Co. Now the third largest tech cluster in the world, it generates 27 per cent of London job [...]
One in five London homes is for sale at £1m or more – here are the priciest boroughs June 16, 2016 So bored of Brexit that you don't even care what happens on the 23 June any more? Well, good news: London house prices are still outrageous, so you can get annoyed (or, deliriously happy, depending on your home ownership status) about that instead. New data out today showed one in five houses in the capital are worth £1m or [...]
Purplebricks’ revenues soar over 400 per cent as the online estate agent eyes up Australia June 16, 2016 Online estate agents Purplebricks today announced a jump in revenues as it sets its sights on the Australian property market. The figures Revenues for the 12 months ending 30 April were up by 448 per cent, rising from £3.4m in 2015 to £18.6m this year. However, Purplebricks’ losses jumped over the period to £11.9m from [...]
Guess which screen hero’s house this is: This company recreates famous apartments in 3D computer models June 15, 2016 Recognise the layout of this apartment? The sunken, cream-carpeted “conversation-pit” living room? The bizarre patterned wallpaper surrounding the doorway from the kitchen to the corridor, from which the downstairs neighbour has made a few rapid exits following secret trysts? It is, of course, the trendy Manhattan apartment occupied by Mad Men’s anti-hero Don Draper, and [...]
How the ONS single-handedly knocked £100,000 off the average UK house price in April June 15, 2016 Eagle-eyed house price watchers may have spotted something fishy about the official house price figures for April. Yep: in the figures, published yesterday, the average UK house price was almost £100,000 lower than last month – dropping from £292,000 in March to just £209,000 in April. Are those jitters over the EU referendum really having that bad an [...]
Berkeley Group chairman Tony Pidgley backs Remain as the housebuilder’s revenues fall June 15, 2016 Berkeley group's chairman, the venerable Tony Pidgley, has backed the Remain side as the company announced this morning that its revenue had fallen. The figures Revenues fell at the UK housebuilder from £2.12bn to £2.05bn in the year to April 30. Pre-tax profits were also down, from £539.7m to £530.9m. The company said that there is "robust underlying demand" but [...]
Fewer tenants are in serious rent arrears thanks to an improved jobs market June 15, 2016 The improving employment market means that fewer tenants are falling into arrears, according to data released today. Research from lettings agents Your Move and Reeds Rains shows 3,100 fewer households were in serious rent arrears in the first quarter of 2016 as compared to the previous quarter. As a result of the improving situation from tenant [...]
Labour shortages are casting a shadow over the UK property market June 14, 2016 Housebuilders are convinced that a lack of labour is one of the biggest challenges facing the property market, according to a survey from Knight Frank released today. The report found that as many as 73 per cent of respondents believed the cost and availability of labour will have a negative impact on future housing supply. Read [...]
House prices remained buoyant in April despite Brexit backdrop, and yes, you guessed it: London property is still hideously expensive June 14, 2016 UK average house prices continued to grow in April according to the latest ONS house price index. Any Brexit jitters failed to impact the market, as prices increased by 8.2 per cent in the year to April, following the trend marked out since the end of 2013. Read more: No, Brexit won't hit house prices – here's why [...]
Ashtead Group’s share price is on the up, building on a set of good results June 14, 2016 Ashtead's share price was on the up in morning trading after the construction equipment provider announced a set of strong results. The figures Ashtead's rental revenue for the year grew 17 per cent. There was also double-digit growth for the company's pre-tax profit, up 24 per cent to £645m, from £490m in 2015. This year the company invested £1.2bn [...]