British Land confident in resilience ahead of Brexit vote May 16, 2016 British Land said it remains confident of having a good 2016 despite uncertainty over the global economy, EU referendum and new London mayor Sadiq Khan. The FTSE 100 property giant today reported an increase in underlying profit in the year to 31 March 2016. The figures The company’s underlying profit was £363m, up from £313m in [...]
This bank just moved into the Cheesegrater May 13, 2016 Lettings in the Cheesegrater, aka the Leadenhall Building, are creeping up: this morning the City's tallest skyscraper announced the newest of its tenants. Clydesdale Bank has signed a 15-year lease on the 17,300 sq ft 15th floor of the building, British Land and Oxford Properties, which co-own the building, said this morning. That pushes lettings at the [...]
London landlords left £1,869 out of pocket as vacant rental properties take almost three weeks to fill May 13, 2016 LONDON landlords are typically left with a 20 day vacancy between tenants, often amounting to lost income of £1,869, new research has shown. Despite the highly competitive rental market in the capital, letting agents claim that it takes almost three weeks to fill a property in London, although this is still two days less than [...]
Will Brexit knock house prices? Not in prime central London May 13, 2016 In a bid to sway voters, George Osborne is predicting Armageddon in every economic sector as the collateral damage of Brexit. This week he pointed the finger at property prices, predicting a significant dampening if the UK votes to leave. The chancellor is correct that the property market does stall in the face of investor uncertainty, [...]
Property Entrepreneurs: How flatsharing website Weroom spread through social media May 12, 2016 Flat sharing is great – so long as you get on with your fellow flatmates, and don’t fall out over the washing up, or who has paid the bills. But those softer issues can be hard to think about, when you’re on the hunt for a place to stay. And it was this set of [...]
Why paying for London property in US dollars could save you a fortune May 12, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. Wise investors spend their time looking for smart places to put their money. The current weakness of the pound against the US dollar has presented an opportunity in the London property sector for smart money from outside [...]
Focus On Shepherd’s Bush: Westfield expansion and old BBC Television Centre homes put W12 in limelight May 12, 2016 For years now, the east has been the land of regeneration. The long lead up to the Olympic Games in Stratford and the success of the City fringes have seen most of property agents’ “up-and-coming” rhetoric focused in that direction and one could be mistaken for thinking there was simply nowhere else for traditionally prosperous west [...]
Sadiq Khan’s rent caps could benefit London landlords May 12, 2016 London’s newly elected mayor, Sadiq Khan, has already committed to making the London housing crisis a priority. He has announced a raft of policies aimed at helping the capital’s two million private renters, and one is attracting particular scrutiny and controversy – the introduction of a London rent cap. Few people doubt rents in London [...]
London is still the world’s most luxurious property market while Auckland is the “hottest” city according to Christie’s International Real Estate May 12, 2016 This may come as little surprise, but London has retained its title as the world's most luxurious property market for the fourth year in a row, according to Christie's International Real Estate. The capital topped the list of 100 cities surveyed, beating Hong Kong, New York, Los Angeles and Singapore to the real estate top [...]
Housing crisis: Retired Brits twice as likely to fund their children’s home deposits May 12, 2016 RETIRED parents in Britain are twice as likely to fund their children’s home deposits than their counterparts in other English-speaking countries, with London pensioners even more likely to support their offspring. Putting the housing affordability gap into stark relief, research commissioned by payments provider UKForex showed that out of 1,135 British retirees surveyed, 27 per [...]