London tenants rattled by shock order to tear down Greenwich tower blocks September 28, 2023 A shock order from Greenwich Council to demolish two recently built residential towers because they did not have accurate planning permission has rattled the tenants currently living there. On Monday, borough officials announced that the Mast Quay Phase II development, constructed by Comer Homes last year, should be torn down as the finished building looked [...]
London sees 24 per cent drop in first-time buyers as high mortgage rates bite September 27, 2023 London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
UK house prices rise 0.6 per cent in July but London continues pullback September 20, 2023 UK house prices increased by 0.6 per cent on average in the 12 months to July 2023, down from a revised 1.9 per cent in June 2023.
London house prices are falling – these are the boroughs where prices are down the most September 19, 2023 London’s housing market is gearing up for “key selling season” with a reduction in prices, before an uptick in activity is anticipated during the autumn months. Fresh data in Rightmove’s House Price Index shows there has been an overall monthly seller asking price rise by 0.4 per cent this month, which is 0.2 percent lower [...]
House prices: Third of asking prices knocked down by £20,000 September 18, 2023 House prices are still being battered by high mortgage rates, with a third of properties knocked down in price by an average of £22,000
Failure to scrap nutrient neutrality rules a ‘national disgrace’, say housebuilders September 14, 2023 The government’s failure to scrap rules on so-called nutrient neutrality which have limited the construction of new homes are a “national disgrace”, a housebuilding body has said.
Rents rise by £110 a month over last year in latest blow for UK tenants September 14, 2023 The cost of renting a property has risen by £110 a month over the last 12 months, according to the latest damning report about the health of the UK’s housing sector, as shrinking supply in the market continues to pile on misery for tenants. Rent supply has shrunk 30 per cent below the average for [...]
Landlords in wealthy London boroughs feel the pinch as Chinese students ditch UK September 13, 2023 Landlords in wealthy London boroughs are feeling the pinch from international students choosing to study outside the UK, as rents in premium postcodes showed signs of slowing. The average rental value growth in prime central London (PCL) – which includes the likes of Chelsea and Kensington – fell to 12.4 per in the year to [...]
Redrow: Another housebuilder warns on ‘standstill’ market as mortgage rates bite September 13, 2023 Redrow has become the latest housebuilder to be battered by a cratering market as it posts a four per cent slide in profit before tax to £395m in its full year results.
House prices fall at fastest rate since 2009 – and it’s worst in London September 7, 2023 House prices are falling at their fastest annual rate since the global financial crisis, with London hit hard