Over half of house moves fall through after an offer is accepted – costing £2bn per year Property More than half of UK house moves fall through after an offer has been accepted, costing the UK £2bn every year in wasted time and fees. Failed house moves could cost the economy £1.97bn per year because around 1.2m residential transactions occur each year and the average fall-through costs buyers and sellers £2,830 in legal [...]
Non-dom reforms blamed for collapse of Harrods luxury property arm Property The collapse of department store Harrods’ luxury property arm was due in large part to the government’s abolition of the non-dom tax regime, estate agents have said. Harrods Estates, which opened on the shop floor in 1897, has announced the closure of its only remaining office in Knightsbridge. London estate agents said the collapse of [...]
Tallest skyscraper outside London approved in £1bn project Property A £1bn project which will see the tallest UK skyscraper outside of London constructed in Greater Manchester has been approved. Developer Henley Investment Management has secured permission from Salford City Council for its scheme at Regent Retail Park in Ordsall Lane. The proposals include a 78-storey tower which, at 895ft (272m) tall, will be the [...]
Renters and landlords ‘in the dark’ on new law, Labour warned September 10, 2025 The UK’s landlord lobby group has warned that renters and landlords ‘desperately’ need more clarity on the rollout of the government’s Renters Rights Bill. The bill, which was debated in the House of Commons on Monday, is expected to receive Royal Assent in late 2025 and to become law in early 2026. It is one of [...]
Millennials and Gen Z cling to property dream as house prices soar September 8, 2025 Millennials and Gen Z are refusing to give up on their dream of owning a home despite the steep challenges of getting on the property ladder, fresh research has found. Over 35 per cent of Gen Z and 40 per cent of Millennials think that owning a property is the most effective way to grow [...]
John Lewis: Losses triple at retail giant’s property start-up August 11, 2025 Losses tripled at the property start-up owned by retail giant John Lewis during its latest financial year despite its income shooting up, it has been revealed. BTR (Operating) Limited has posted a pre-tax loss of £406,000 for the 12 months to 25 January, 2025, new accounts filed with Companies House show. The latest figure comes [...]
House builder blames ‘broken planning system’ and interest rates for loss August 7, 2025 In independent house builder has blamed the “broken planning system” and high interest rates putting off first time buyers for it falling into the red. Cheshire-based Eccleston Homes has reported a pre-tax loss of £1.2m for the 12 months to 31 October, 2024, down from the £2m profit it achieved in the prior year. New [...]
Is it high time to buy in super-prime London? July 15, 2025 London’s super-prime market has been suffering from a glut of supply in the wake of damaging decision-making from successive governments. Ali Lyon asks, is the tide beginning to turn? To take a walk down Mayfair’s historic Upper Grosvenor Street is to be confronted by a quiet, but dramatic, changing-of-the-guard afoot in one of London’s most [...]
Rachel Reeves’ tax hikes are driving wealthy overseas investors to flee London July 14, 2025 Chancellor Rachel Reeves’ tax hikes have had the “feared impact” of driving wealthy overseas investors to flee London to escape double taxation of their worldwide income, the company behind The Shard has said. Real Estate Management (UK), which is ultimately owned by the State of Qatar, has revealed the exodus has resulted in it being [...]
Landsec boosts profit amid residential and retail pivot May 16, 2025 Property investment group Land Securities – known as Landsec – has reported a five per cent boost amid a strategic repositioning of the firm’s commercial property portfolio in favour of residential and retail property. Profit before tax rose to £395m from £341m, as the group plans to invest £1bn in retail and more than £2bn [...]