UK house prices: More than £63bn properties have been bought using cash instead of mortgages since 2011 March 8, 2016 More than £63bn has been spent on £1m-plus homes over the last five years by buyers using hard cash as opposed to mortgages, new figures show. High net worth adviser Bower Private Clients said 7,200 homes worth more than £1m are being bought on average each year alone without the help of a mortgage. This is [...]
Burberry’s share price jumps as mystery investor shops at the luxury group March 8, 2016 Burberry lead the FTSE 100 this morning after reports last night that a mystery investor has built up a five per cent stake in the luxury goods company. Regulatory filings show that the shareholder's stake went over the five per cent disclosure threshold on 11 February, with HSBC acting on behalf of the investor. A separate [...]
Neighbourhood drones, virtual reality tours and holograms: Here are five ways we will be buying property by 2025 March 8, 2016 Dashing across town to visit a property for sale after work? According to trend analysts, The Future Laboratory, the days of paying a physical visit will be long gone by 2025 and replaced by virtual reality devices such a holograms instead. The report, commissioned by online estate agent easyProperty, has predicted several ways that buying, selling and redecorating [...]
UK house prices: The number of tenants in serious rent arrears improves in final quarter of 2015 March 8, 2016 The number of tenants falling seriously behind on rent fell in the final quarter of 2015 after worsening in the previous three months, according to figures released this morning. There were 82,900 households behind on more than two months’ rent between October and December, down from 84,200 in the third quarter, the latest data from [...]
Top tips from the experts on how to get lots of people looking at your property online March 7, 2016 In the last 12 months, a slew of online portals have opened up to help you sell or lease your property online. These websites are certainly cheaper than enlisting an estate agent, but they also involve more legwork. Here are some fool-proof ways to get your property noticed online, whether you’re selling up on PurpleBricks.com [...]
Kleinwort Benson’s Mayfair office sold to Hong Kong billionaire Joseph Lau’s Chinese Estates for £122m March 7, 2016 An property investment firm controlled by Hong Kong billionaire Joseph Lau has snapped up Kleinwort Benson's London headquarters in Mayfair for £121.7m. Chinese Estates has agreed to buy 14 St George Street from Aberdeen Asset Management, the pair announced today, in a deal representing a 3.5 per cent yield. Designed by Eric Parry, the four-storey building comprises 51,861 square feet and [...]
Canadian pension fund CPPIB joins forces with Hermes on £1bn Birmingham Paradise city centre redevelopment March 7, 2016 The Canadian Pension Plan Investment Board (CPPIB), one of the country's largest pension funds, has made its second major foray in Birmingham this year after buying a stake in the vast £1bn Paradise regeneration scheme in the city centre. CPPIB said it will take a 50 per cent stake in the £150m first phase of the scheme alongside Hermes Investment [...]
Here’s how much house prices have risen along the Elizabeth Line since building started March 7, 2016 London's upcoming Elizabeth line – set to open in 2018 – is already making its mark on property prices throughout the capital. Data released today showed properties near the planned stops along the line have increased in value by 52 per cent on average since building began, compared with the average rise of 30 per cent across England. The figures, from online property [...]
London house prices: Prime Central London property is experiencing a dead-cat bounce, after demand for high-end homes suddenly rose March 7, 2016 London's high-end property market may be experiencing a dead-cat bounce – after demand for homes in London's most exclusive areas spiked as investors attempt to squeeze in transactions before stamp duty is hiked in April. Research by online estate agent Emoov, seen exclusively by City A.M., showed demand for homes worth £1m or more has jumped by [...]
Cala Group calls on government to tackle housing crisis by building more family homes March 7, 2016 Cala Group, has urged the government tackle the country's housing crisis by addressing the need for larger family homes, as the housebuilder forecast another year of record profits. The Edinburgh-based group, which builds high-end homes in affluent areas in the south of England as well as Scotland, said the government's increased focus on affordable housing and first time buyers was "misguided" [...]