Why Build to Rent is the answer to London’s housing shortage April 14, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. Build to Rent represents a new way of living at a time when people are struggling with affordability and poor rental accommodation. And it could be the answer to the UK’s housing shortage providing large numbers of [...]
Holiday homes on the Costa del Sol are set to rise in the next few years as supply begins to run dry April 14, 2016 The Spanish property market may have been in a slump for the past few years but the bounce back has started. Enquiries are up in Marbella, glittering hang out of reality TV stars and the superyacht set, as well-heeled buyers source a home on the Med. The main hub of activity in this Costa del [...]
These scientists can predict where London’s next up-and-coming neighbourhoods will be April 14, 2016 Isn't hindsight a wonderful thing. In hindsight, we would all have taken a punt on Jeremy Corbyn's Labour leadership triumph in May last year. We would also probably have invested in a little pied-a-terre in Hackney back in 2010, when it was listed as the area with the second-highest level of deprivation. Fast forward six years, and the [...]
Developers just won approval to turn this iconic London tower into luxury flats April 13, 2016 Just what London needed: more luxury apartments. Yes: at a planning meeting last night, billionaire property developers David and Simon Reubens won planning permission from Westminster City Council to turn London's iconic Millbank Tower into hundreds of luxury homes. The tower, which has previously housed the United Nations and the Office for National Statistics' predecessor, [...]
Property bubble shows no sign of popping yet as mortgage lending marches higher April 13, 2016 Mortgage lending grew by one-fifth over the last twelve months as the number of first time buyers, people moving homes, buy-to-let investors and remortgages all grew according to the Council of Mortgage Lenders (CML). In total, £8.7bn was taken out for new mortgages in February 2016, up 21 per cent on last year, while another [...]
Interserve joint venture walks away from £1bn One Nine Elms scheme as talks collapse April 12, 2016 A £1bn scheme to build twin luxury residential-led towers in Nine Elms faced a new hurdle yesterday after a construction deal with the contractors collapsed. CI-One Construction, Interserve's joint venture with China State Construction Engineering Corporation (CSCEC), said it has "mutually agreed to end negotations" with Dalian Wanda over its appointment as the main contractor at One Nine Elms, near Vauxhall. The [...]
London house prices actually fell last month – but Londoners need a six-figure salary to afford to buy a home April 12, 2016 Another day, another set of house price figures – but this time there's a bit of good news for those struggling to afford a home. Yep – house prices in the capital actually fell in February on the month before – dropping to £524,000, from £540,000 in January. But house prices can be volatile – [...]
Financial services company LV urges government to scrap stamp duty for pensioners looking to downsize April 12, 2016 A well-known financial services company is today urging government to scrap stamp duty for pensioners who are looking to downsize to help further fund their retirement. Research by LV has discovered that retirees are increasingly looking towards bricks and mortar as a way to finance their golden years, but many are unable to unlock the [...]
Lawyers and accountants are increasingly looking to property, not pensions, to fund their retirement April 11, 2016 What do the legal eagles and the bean counters have in common? Both lawyers and accountants are increasingly turning to property as a means of funding their golden years, research released today has discovered. The study by Bower Private Clients found that 29 per cent of lawyers and 34 per cent of accountants are planning to [...]
Trying to sell your house? A third of homes in some London boroughs have cut their asking prices April 11, 2016 Another sign London's housing market might have hit its peak – after new research suggested sellers of as many as a third of homes in some parts of the capital cut asking prices. The research, by property analysis firm Propcision, found sellers in Kensington and Chelsea were the worst-hit, with asking prices on a third [...]