Bellway: Housebuilder in recovery as share price ‘at odds’ with performance February 11, 2025 Housebuilder Bellway reported strong growth in home completions over the last six months, which analysts have said could be a sign the wider homebuilding sector is set for a recovery. The company reported an 11.9 per cent uptick in housing completions in the six months ended 31 January, with more than 4,500 properties completed with [...]
The end of stamp duty relief isn’t the only cost going up for first-time buyers February 11, 2025 First-time buyers (FTBs) are facing higher costs across the board as they grapple with not only high stamp duty fees, but a low stock of affordable houses, more stringent lending requirements and higher upfront costs. First and foremost, stamp duty relief is set to end on March 31, which has driven a significant boost in [...]
House prices hit record high in January ahead of stamp duty deadline February 7, 2025 According to new data, the average UK house price hit a record high of £299,138 in January ahead of the loss of first-time buyer stamp duty relief in April. House prices rose 0.7 per month on month and three per cent year on year, with London retaining the highest average house price in the UK [...]
Landlords granted reprieve by Labour as energy efficiency timeline extended February 7, 2025 The government has officially extended the deadline for landlords to tighten energy requirements in the privately rented sector by two years to 2030. As of 2030, all private landlords will be required to meet a higher standard of Energy Performance Certificate (EPC) C or equivalent in their properties – up from the current level of EPC E. [...]
‘The Round’: Huge Bankside wellness hub gets planning permission February 6, 2025 Southwark Council has granted full planning approval for a major mixed-use scheme on Blackfriars Road in Bankside, central London. Real estate investor Hines will develop a “largely vacant” site into a sustainable office and residential neighbourhood by 2030, with construction set to start later this year. It’s one of many developments in the city looking [...]
London prime property prices dip as Budget raid deters wealthy buyers February 4, 2025 Prices for London prime properties remain far below their 2014 peak, with double-digit discounts on asking prices to be found in some areas of the capital. The average reduction in the original asking price for houses over £1m in Greater London was £200,100, according to Investec, but some areas saw a 11.3 per cent discount. [...]
Crest Nicholson: Housebuilder upbeat despite ‘tough and disappointing year’ February 4, 2025 Housebuilder Crest Nicholson has said it is “well-positioned” to meet housing demand with a new strategy, despite lower-than-expected profit this year. Revenue at the housebuilder fell six per cent for the full year to October 31, to £618m, while operating profit fell 38.4 per cent to £31.3m. Profit before tax fell 53.3 per cent year [...]
‘Prohibitive building costs’ stunting UK growth projects – Deloitte February 4, 2025 “Prohibitive costs” involved in construction projects in major UK cities led to a sharp decline in the number of new developments breaking ground in 2024, according to a new report from Deloitte. Deloitte’s latest Regional Crane Surveys, which covers the central areas of Belfast, Birmingham, Leeds and Manchester, has revealed the number of new starts [...]
City of London approves major new skyscraper January 31, 2025 The City Corporation has approved a 54-storey skyscraper on the doorstep of UK’s busiest station as demand for office space continues to grow in the capital. The site at 99 Bishopsgate, which will become one of the tallest towers in the Square Mile, is set to provide a minimum of 1.2m sq metres of office [...]
House price growth slows despite ‘busier January than normal’ January 31, 2025 House price growth slowed slightly in January, but year-on-year growth remained robust despite higher interest rates. The annual rate of house price growth slowed to 4.1 per cent in January, compared with 4.7 per cent in December, according to the Nationwide House Price Index. House prices increased by 0.1 per cent month on month, after [...]