Here’s how much you must put into your child’s JISA to get them on the housing ladder September 6, 2021 Parents and grandparents face putting away more than £3,000 per year typically to help children on to the property ladder in adulthood, and in London it’s more than double that. A child born in 2021 would need average annual deposits of £3,129 into their Junior Isa (Jisa) to afford the average UK first-time buyer deposit [...]
Exclusive: Homeowners borrow more than ever as remortgage applications jump by 176 per cent September 1, 2021 Homeowners across the UK are now borrowing more money from mortgage lenders than ever before to fund home improvements, according to new figures shared with City A.M. this morning. According to mortgage broker Mojo Mortgages, the average amount of money being applied for by existing homeowners to fund renovation projects has increased by just over £13,000 [...]
60 per cent of all properties sold in London hit by down valuations August 31, 2021 Nearly 400,000 UK property transactions have been down valued in the last year alone, according to research by London property agent Benham and Reeves, shared with City A.M. this morning. At 59 per cent, London is home to some of the largest levels of down valued homes of all UK areas and it also ranks third [...]
London property: The gothic castle on sale in Belsize Park for £17.5m August 31, 2021 Complete with a swimming pool, champagne lounge and wine tasting room- this historic home is truly fit for a king. Hunter’s Lodge is a Grade-II listed Georgian Mansion located off Belsize Lane in Belsize Park, built in 1812 in a Gothic-revival style. The building has turrets and battlements, making it perfect for anyone with dreams [...]
Pension vehicle strikes £67m affordable housing deal with Bromley council August 31, 2021 The Pension Insurance Corporation (PIC) has invested £67m in an affordable housing deal with the London Borough of Bromley. The investment vehicle is aiming to help alleviate local emergency homelessness in the South London borough. The investment will be used to purchase up to 300 affordable properties outright. Through this it aims to reduce the [...]
Property Special: London’s most affordable postcodes, up and coming areas, best for schools and to invest August 25, 2021 The property market has boomed over the past year, thanks to the stamp duty holiday which has given a lot of first-time buyers the opportunity to get their foot on the property ladder. Coupled with the introduction of the new government backed 5 per cent deposit scheme, designed to help home buyers, the market isn’t [...]
Exclusive: Unpaid stamp duty clawed back by the tax man soars to five-year high August 11, 2021 Tax clawed back from probes into suspected unpaid stamp duty reached a five-year high this year, reveal exclusive figures obtained by City A.M. The tax man recouped an average of £113,400 from each investigation it launched into unpaid stamp duty in 2020/21, shows data secured through a Freedom of Information request submitted to HMRC. The data [...]
Countryside creep: London homeowners flee capital at record rate August 2, 2021 London homeowners are fleeing the capital at record levels as city slickers pursue newfound housing needs triggered by the Covid crisis, according to new figures released today. Research by estate agent Hamptons shows 61,830 Londoners purchased homes outside the capital in the first six months of this year, the highest number since they started recording [...]
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 [...]