Foxtons upbeat about second half after pre-election jitters slowed property sales July 29, 2015 Blood on the residential street? Revenues at London estate agent Foxtons have dropped in the first half, as property sales slide. The figures: Group revenue at the agency fell 2.3 per cent to £71.1m for the six months to 30 June, while property sales fell 10.9 per cent against 2014, when the market was operating [...]
Time to move to Chatham? Best value commuter towns cut thousands off London house prices July 29, 2015 A one hour commute can knock around £450,000 off the average price of a house, according to new research published today by a major UK bank. Towns which are an hour’s commute from central London, which include Crawley, Newbury, Colchester and Chatham have an average property price of £272,000 – a significant contrast to the average [...]
London mayoral hopeful Tessa Jowell: City workers would be better off commuting from Madrid July 28, 2015 London mayoral hopeful Tessa Jowell’s team has been crunching numbers – and it turns out capital dwellers might be better off commuting to the City from Madrid rather than living in London. You read that right. Based on the average cost of commuting from a one-bedroom flat in north London to a job in the [...]
London house prices: Both buyers and renters suffer brunt of affordability crisis July 28, 2015 London house prices were 9.2 per cent higher in June than the same month last year, according to figures published by the Land Registry today. The capital outpaced the rest of England and Wales, where price growth averaged 5.4 per cent. Renters are not faring much better either. Average rents in London climbed to £699 [...]
Herzog & de Meuron’s Canary Wharf tower given go-ahead July 28, 2015 Fancy living in a cylindrical waterfront tower? Soon homebuyers will be able to do just that after Canary Wharf Group secured detailed planning permission for its second residential scheme on the former Wood Wharf site. The 57-storey building, which is yet to be named, owes its quirky design to Swiss architects Herzog & de Meuron, [...]
London rental prices: Renters on living wage priced out of every postcode in the capital July 27, 2015 Exorbitant room rents are pricing low-paid workers out of all parts of London, as new data shows that there is no longer a single postcode in the capital where you can afford to live on the London living wage. On average, renters earning a living wage put more than half of their salary, 56 per [...]
First homes inside former BBC Television Centre go on sale next month – starting at £500,000 July 27, 2015 Homebuyers will be soon able to own a slice of television history, with the first 450 homes inside the former BBC Television centre set to go up for sale next month. The scenery block at the former BBC Television centre in London’s White City is eerily quiet. For over 50 years the cavernous space used [...]
London house prices: The north-south divide emerging in the capital’s property sector July 27, 2015 One interesting factor in new figures published today (more on that here) is a sign growth in house prices is slowing in parts of London. In fact, it looks like there's a north-south divide emerging – and in this case it's grim down south. The figures, by Haart estate agent, showed while prices across the [...]
Great Scotland Yard snapped up by Indian billionaire Yusuffali Kader’s Lulu Group for luxury hotel July 26, 2015 Indian billionaire Yusuffali Kader has snapped up the historic home of London's Metropolitan police and will turn Great Scotland Yard into a luxury hotel. Kader's Abu Dhabi headquartered Lulu Group has bought up the Edwardian building in Whitehall in a £110m deal with Galliard Homes, and will work with the Steigenberger Hotel Group to run the [...]
London house prices are being driven up by foreign criminals laundering money July 25, 2015 Foreign criminals who launder money through the purchase of high-end London properties are pushing up house prices, according to the National Crime Agency. "I believe the London property market has been skewed by laundered money," Donald Toon, the agency's director of economic crime command, told the Times. "Prices are being artificially driven up by overseas [...]