Foxtons’ best results in five years prompt real estate giant to reinstate dividend July 29, 2021 Estate agent Foxtons has delivered its best results in five years, boosted by a pandemic-induced resurgence in London’s property market after years of weak results. The sales and lettings agency announced it made £66.9m in revenue in the first half of 2021, a 66 per cent increase compared to the same period in 2020 and [...]
London home sellers now get 91 per cent of asking price, but Westminster buyers achieve largest discount July 27, 2021 Home sellers in London are now achieving 91 per cent of their initial asking price, an increase of six per cent on the first three months of this year, data from sales agent Benham and Reeves has found. As a result of the Covid-19 pandemic, some in the market panic-bought to secure properties over the [...]
Average UK house price 30 per cent up on 2007 market peak July 27, 2021 The average price of a home in the UK has risen to a new high of £230,700, up 30 per cent on the 2007 market peak. Since June of last year, the average price has risen by 5.4 per cent, more than double the year on year price growth recorded 12 months ago, when annual [...]
Exclusive: London Mayor Sadiq Khan welcomes Hongkongers with open arms July 24, 2021 London’s City Hall announced this week it plans to free up £900k to help tens of thousands of Hong Kong migrants to settle in the capital this year. The financial package is part of a wider strategy to help those fleeing the political turmoil in Hong Kong set up home in London. In an exclusive [...]
First-time buyers: Where do millennials stand on the property ladder? July 21, 2021 Around two-thirds of people aged in their 20s and 30s hope to buy a new home in the next five years, according to a survey. Some 66 per cent of people in their 30s and 67 per cent in their 20s are considering buying a property in the next five years, compared to 38 per [...]
£15bn worth of London homes sit empty, as Londoners squabble over supply July 20, 2021 The value of London’s homes sat empty has racked up to £15bn, according to new data, as a rung on the property ladders edges further away from Londoners. London has made a name for itself as a destination for ultra-wealthy buyers to snap up prime real estate as assets and holiday homes, while prospective homeowners [...]
Shortfall of 225,000 properties as average house price jumps to £338,447 July 19, 2021 Across Britain, the average asking price for a home is now £21,389 higher than it was just six months ago. The average price tag has jumped to a new record high for the fourth month in a row, reaching £338,447 in July, according to property website Rightmove. The website said the first half of this [...]
House prices: Property market slowdown good for long term stability July 14, 2021 Long-term stability in the housing market could be on the cards thanks to a gradual slowdown in house price growth and easing of government support, according to industry observers. Figures published by both Zoopla and Rightmove show that, although house prices are still outperforming the same period in 2019, growth compared with April and May [...]
UK house prices swell 10 per cent year-on-year July 14, 2021 The average price for a home has swelled 10 per cent, according to official data today, as house price inflation continues. London’s homeowners however might not feel the benefit, with prices jumping just 5.2 per cent in the year to May, the Office for National Statistics (ONS) said. Property prices in the capital have the [...]
Majority of UK tenants prepared to pay more for furnished homes July 14, 2021 A furnished rental home can improve your chances of finding a tenant and may increase the monthly level of rental income secured, according to new research by Manor Interiors. The firm have found that over a quarter of UK tenants would more likely view a rental property if it was already furnished. Another 26 per [...]