Hammerson reveals it hopes to pocket more than £140m from sale of Silverburn shopping centre Retail property giant Hammerson is in talks over the sale of the Silverburn shopping centre near Glasgow for around £140m. Shares in the company moved higher on Monday after it confirmed talks over the disposal of the site, which is a 50-50 joint venture Hammerson holds with the Canada Pension Plan Investment Board (CPPIB). Silverburn, [...]
Mortgage approvals drop dramatically as market hits ‘tipping point’ after stamp duty holiday MORTGAGE APPROVALS Mortgage approvals for house purchase dropped sharply after the end of the stamp duty holiday, the Bank of England said. Mortgage approvals for house purchase dropped down to 67,200 in October from 71,900 in September, close to the 12-month average up to February 2020 of 66,700. However, approvals in October remained above the pre-Covid averages [...]
Busiest housing market since 2007 anticipated with households to make moving decisions over Christmas BUYING FRENZY The UK is readying itself to record the busiest housing market since 2007 as the pandemic has made homeowners reconsider their living situations. Keen interest from buyers has sent house prices soaring, with the average value of a home now £240k, according to Zoopla’s House Price Index. The pandemic has compelled many to reconsider where [...]
Throwing shapes: How geometric lines could transform your home November 28, 2021 Want to create a more exciting space but feel that garish colours and hours of painting might not be for you? Then this painting trend may be just the ticket. Social media platforms such as TikTok and Instagram have been awash with geometric shapes painted directly onto walls. Whether above a bed to accentuate the [...]
First-time buyers in London now need to stump up nine times their annual earnings to get on property ladder November 25, 2021 A new report published this morning shows that first-time buyers now have to cough up five-and-a-half times their typical annual earnings to get on the property ladder. In London that is even nine times. As house prices have surged, the average first-time buyer house price-to-gross earnings ratio in the third quarter of this year was [...]
Waltham Forest house prices see sharpest jump since 2002 November 25, 2021 The London boroughs of Kensington and Chelsea, Westminster and the City of London have marked the largest jump in house prices in London since 2002. Unsurprisingly, prices in leafy Kensington and Chelsea shot up by £863k in two decades. This was an increase of 223 per cent. Westminster prices saw a £600k jump. However, the [...]
First time buyers face significant barriers as earnings lag behind soaring house price growth November 25, 2021 First time buyers are facing significant hurdles to raising a deposit as they come up against high prices relative to average earnings. House price growth has surpassed earnings growth over the past year and the ratio of house prices to earrings has hit a record high, the Nationwide House Price Index set out. A 20 [...]
Post-Brexit vote of confidence: German real estate giant Coros lands in London as it opens office in Soho November 24, 2021 German real estate company Coros is expanding into the UK as the firm has opened an office on Kingly street in Soho. The firm said it considers London as a gateway to Europe for international investors who are seeking access to Germany and other European markets. In addition to sourcing real estate projects, Coros’ London [...]
New build quality board selects ombudsman as redress plans for disappointed buyers move forward November 24, 2021 Disappointed buyers of shoddy new-builds are one step closer to the formation of a new body that would provide redress. The New Homes Quality Board – which oversees the quality of new-build houses – has announced that The Dispute Service has been selected to be the New Homes Ombudsman. The ombudsman will be independent and [...]
Plans to require Airbnb-style rentals to obtain licence from local council Scotland move in Scotland November 23, 2021 New government proposals in Scotland will require properties that are used for short-term lets and Airbnb-style rentals to get licences from the council. Ministers want to tackle the growth of Airbnb-style rentals in popular tourist areas such as Edinburgh and will ask individual councils to set the requirements for granting a licence while allowing uncapped [...]