YouGov Poll: Twice as many people support buy-to-let tax hike than oppose it April 22, 2016 The recent hike in the stamp duty levy for buy-to-let landlords was met with fierce opposition from landlord groups when it came into force on 1 April. However, according to YouGov survey released today, more than twice the number of UK adults were in favour of the three per cent surcharge than those who opposed [...]
When Brent meets Chelsea: How buying property in all 32 London boroughs over the last 20 years would have made a savvy investment April 21, 2016 Judging which areas will generate the best returns over the next 20 years can be tricky even for the wisest property sage. Data from estate agent Knight Frank show that Hackney was the best performing borough during that time, with an annual price growth of 11.9 per cent, followed by Lambeth at 11.2 per cent. However [...]
Estate Agent Wars: Competitions watchdog warns firms over suspected collusion in OnTheMarket antitrust row April 21, 2016 Has the government just hammered the final nail in the coffin for OntheMarket? Estate agents have been sent a warning by the Competition and Markets Authority (CMA), telling them they may be breaking the law by making "joint decisions" to join the portal and exit rivals such as Rightmove and Zoopla. Those who are suspected of [...]
London house prices will continue to grow even if the UK leaves the EU, say homeowners April 21, 2016 Parts of London's property market might be stumbling, but that's not stopping the capital's homeowners being the most confident people in the country that Brexit would not affect their house prices. Foolhardy? Maybe. But according to a new survey, London's homeowners expect to see double-digit growth in their property prices over the next six months – [...]
No way in for the Inns: Barristers rise up against Cycle Superhighway street closure, saying it would put revenues from Hollywood film companies at risk April 20, 2016 Another day another planning battle – this time between the City of London Corporation and the Inns of Court. The Inns' top barristers and residents are on a war path after the one of the Corporation's sub-committee voted to shut down one of the main roads leading into their buildings to traffic – a move they claim will "create a [...]
Mount Anvil profits hit new record high as residential developer targets 1,000 new homes April 20, 2016 London property developer Mount Anvil posted a 25 per cent jump in pre-tax profits to reach a new record of £25m last year, after partnering with other developers to deliver nearly 500 new homes across the capital. The private company, which is redeveloping Keybridge tower in Vauxhall as well as Dollar Bay in the Isle of Dogs, said [...]
Rents are rising faster in London skyscrapers than in any other global city April 20, 2016 We already knew rental prices for London office space was pretty high – but it turns out that the higher up your office is, the faster your rents are rising. Figures from Knight Frank suggest rents in London's skyscrapers – including the Shard, the Cheesegrater and the Walkie Talkie – rose 9.7 per cent in the [...]
Grosvenor Group warns of lower returns and revenue profit in coming years April 19, 2016 Grosvenor, the privately-owned international property group which has existed since 1677, has cautioned of lower returns and revenue profit over the next few years after posting a 22 per cent fall in annual pre-tax profits to £527m. Revenue profit, the difference between revenue incomes and revenue expenses, climbed to £83.3m last year, from £80.1m in 2014, excluding the impact of property revaluation. Total [...]
EU referendum: Companies hunting for new London offices shrug off Brexit fears April 19, 2016 Companies were still on the hunt for new offices in London in the first quarter of the year, despite fears that economic jitters and the prospect of a Brexit could stifle demand. More than 3.1m square feet of space was snapped up, with Thomson Reuters' deal to decamp all of its staff to new 315,400 sq ft Canary Wharf headquarters lifting overall take-up [...]
Take a look inside five of London’s £35m homes April 19, 2016 We all know there are people who are are happy to fork out vast sums of money to snap up tiny parts of London. Which is why we hear stories of a shack in Peckham selling for £1m, or a garage in Chelsea being snapped up for £360,000. But some – London's highest net-worth individuals – are prepared to stump up [...]