Bank of England: Yes, there was a mortgage stampede in March April 29, 2016 The final – and perhaps most definitive – proof that mortgage lending surged in March has been published by the Bank of England this morning, showing just how much tax changes distorted the property market. After a string of industry reports said that investors and landlords rushed to snap up houses before the three per cent [...]
First-time home buyers come roaring back despite investor surge in March April 29, 2016 The number of first-time buyers soared to its highest level in nearly two years last month, according to Your Move, in a new study which counters claims that a surge in buy to let investors has squeezed out homeowners. Homes bought by newbies rose by 48 per cent between February and March to a total [...]
The number of rental homes in the UK has nosedived – and the situation will only get worse April 28, 2016 An unintended consequence of the chancellor's stamp duty hike or just more nerves about Brexit? Either way, a report by one of the UK's largest landlords' associations has warned the number of rental properties in the UK is dangerously now. The report, by the Association of Residential Letting Agents (Arla), found the supply of rental [...]
Housebuilding in London has plummeted in the run-up to the mayoral election: Here’s which boroughs are approving the fewest new homes April 28, 2016 It seems the capital's local authorities have got a case of the heebie-jeebies in the run-up to the mayoral election – after a new report showed approvals for new homes have plummeted. The report, by estate agent Stirling Ackroyd, found London boroughs gave the thumbs-up to a mere 4,320 homes in the first quarter of the [...]
Two gifs from this architecture exhibition show how the City’s skyline will be transformed by skyscrapers in 2030 April 27, 2016 An exhibition taking place next month reveals just how much the City's skyline is set to change over the next few years. The Evolving London Skyline exhibition, which runs at New London Architecture (NLA) in May, shows how the Square Mile will look in 2030 if all the skyscrapers currently given planning permission are built. The images, [...]
Foxtons reaps the rewards as house buyers scramble to complete ahead of stamp duty deadline – but how long will the party last? April 27, 2016 Foxton's has posted impressive-looking results for the quarter to the end of March. But shares slid as investors showed their nerves over new buy to let rules. The figures Total group revenues rose to £38.4m during the period, up 16.2 per cent from the same quarter last year. That was pushed up by a 28.5 per cent increase in property [...]
Why Brexit could spell trouble for Berkeley Group if foreign investors abandon London April 27, 2016 Berkeley Homes produces some of the most desirable goods in the UK. Building high-end houses and apartments chiefly in London, this well-managed company has delivered impressive profit margins and sustained growth. To explain this success, many would point to London’s chronic housing shortage. Annual demand is typically estimated at 50,000 homes by industry commentators. In [...]
Salaries are soaring among building firms as pressure mounts to find skilled bricklayers, says Federation of Master Builders April 26, 2016 More than two-thirds of small UK building firms forecast a jump in salaries and wages over the next six months as competition for skilled bricklayers intensifies. Brickies are already able to command wages of up to £60,000 per year in London and around £45,000 a year in the north of England. However these salaries could be even higher in the future [...]
Henley Camland strikes major deal with Land Securities for part of the Ebbsfleet Eastern Quarry garden city April 26, 2016 Private equity firm Henley has bought a major component of the Ebbsfleet scheme, one of the UK's largest residential schemes, from Land Securities. Fresh from selling more than 500 plots to Taylor Wimpey yesterday, Land Securities has today revealed another deal, selling two "village" sites at the Eastern Quarry, which have capacity for around 4,700 homes, [...]
Empiric buys student property in Manchester for £30m April 25, 2016 Empiric Student Property has bought a 561 bed scheme in Manchester for £29.5m as well as the 50 per cent stake it doesn't already own in a student accommodation in Southampton. The listed student housing provider said the Manchester scheme, which it acquired from MCR Property Group, comprised of six separate blocks of accommodation, which have been [...]