This is why we’re struggling to build on brownfield sites June 2, 2016 The soil in Britain is so contaminated that it is damaging construction efforts across the country, according to a report from the Environmental Audit Committee (EAC) out today. Around 300,000 hectares of UK soil are thought to be contaminated with toxic elements as a result of the country's industrial history, and London is one of the worst affected areas. The [...]
UK mortgage lending dropped to its lowest level since the height of the eurozone crisis in April June 1, 2016 Mortgage approvals have hit their lowest level since the height of the Eurozone crisis, according to the Bank of England. Mortgage loans totaled just £281m in April, their lowest level since August 2012, after the hike in stamp duty came into effect at the beginning of the month and buy to let landlords fled the [...]
Brexit bluster: Telford Homes boss is so chill about housing he says he’d buy a plot on the day before the EU referendum June 1, 2016 The chief executive of a top London property developer is so confident about the resilience of the housing market that he'd buy a plot the day before the EU referendum. Speaking to City A.M. on a day of strong results for the company, Jon Di-Stefano, chief executive of Telford Homes, said: "Even if we vote out people aren't going to disappear [...]
Telford Homes announces strong results as it sets its sights on the private rented sector June 1, 2016 London residential property developer Telford Homes announced strong revenue growth in its final results for the year ending March 2016, and pre-tax profits at the company exceeded original market expectations. The firm's revenue was up by 42 per cent year-on-year, jumping from £173.5m in 2015 to £245.6m this year. Pre-tax profits were up by 28 per cent, to [...]
House price growth falls to its lowest since October 2015 as stamp duty changes take their toll June 1, 2016 Have George Osborne's changes to house prices had their desired effect? House price growth fell in May, to its lowest since October last year – suggesting things could be about to look up for those struggling to move up the property ladder. Nationwide's House Price Index showed prices rose 1.3 per cent to £204,368 in the [...]
Buy to let backlash: rent supply falls year-on-year and renters are set to pay the price May 31, 2016 The supply of rental properties is fell year-on-year in April, down by five per cent, as letting agents predict that the stamp duty hike on buy to let properties will end up hitting renters in the coming months. The average number of properties managed per branch decreased from 193 to 183 year-on-year, according to data from the [...]
EU referendum: A Brexit doesn’t necessarily spell doom and gloom for London’s property market – fortune will favour the brave May 31, 2016 While a vote to leave the EU on 23 June looks less likely by the day, landlords, letting agents and corporate relocation specialists shouldn’t worry too much about a Brexit. Whether we wake up on the 24 June ‘in’ or ‘out’ of Europe, it will be several months before the true consequences of either outcome become clear. [...]
M&G Real Estate move in on the east London housing market with development in Bow May 31, 2016 More tower blocks are set to pop-up in east London as property investors M&G Real Estate has signed a deal with Telford Homes to build new private rental homes in Bow. The £69.3m development will comprise two five-storey buildings and one 22-storey tower near the Langdon Park DLR station. Telford Homes is the developer and contractor of the scheme, which [...]
Looking for your first home? Find a partner first; nearly two out of three first-time buyers are couples May 31, 2016 If you're looking to buy your first home in the UK, think about looking for love first; new research out today shows most people aren't trying to go it alone in the current housing market. First-time buyers are on the up, but almost two out of three of them are buying as part of a couple, underscoring [...]
The City Property Association has come out against Brexit after members backed staying in the EU May 31, 2016 The City Property Association (CPA) has come out in favour of the UK remaining in the European Union after two polls showed its members were "overwhelming" against Brexit. An online poll of its members last week found 75 per cent in favour of the Remain campaign. The CPA, which represents 170 companies operating in Central London, said [...]