Prices for central London’s luxury homes are falling – but outer areas are becoming less affordable September 21, 2016 London's luxury homes are set to have their prices cut by nearly 10 per cent this year, but prices in the capital's outer boroughs will continue to become less affordable, according to new research. Property services giant Savills has predicted prices on high-end homes in central London will drop by nine per cent this year and won't return to growth [...]
The Lifetime Isa: New clarifications are good news for first-time buyers, but do nothing to solve its conflict with pensions September 21, 2016 The Treasury released final details last week on the Lifetime Isa (Lisa) which launches in spring 2017. Aimed at two very different types of savers – first-time buyers and retirees – the updates mostly concern the first group, and will do little to silence critics who say that the Lisa will lure away people who could [...]
What to expect from Philip Hammond’s Autumn Statement September 21, 2016 The UK entered a period of heightened political and economic uncertainty following the EU referendum. But as the fog begins to clear, we are starting to see more clearly what might be on the horizon. We downgraded our forecast for UK economic growth in the aftermath of the referendum. Our concerns have since receded, as [...]
House prices rebounded in September after the Brexit vote lull September 19, 2016 UK house prices are rebounding from the lull that immediately followed the Brexit vote, according to data from Rightmove. Asking prices have increased 0.7 per cent month-on-month, Rightmove said. In the weeks after the Brexit vote, Rightmove found that prices fell by 0.9 per cent. But first-time buyers are finding it increasingly difficult to get on [...]
How to build a hipster housing development in ten days September 19, 2016 Mike, 32, works as an accountant for an international development charity, but, despite having a healthy salary, he cannot afford a house in London. His story is unremarkable. Londoners have come to accept that owning a home is an ambition for later in life if they don't have help from relatives. Millennials like Mike aren't in desperate circumstances, but [...]
Focus On Barking: Will Khan’s approval for ‘Barcelona-on-Thames’ change the landscape of east London? September 16, 2016 It’s not often Barking – an industrial suburb of east London – finds itself in the spotlight. But that’s exactly what happened this month when Mayor of London Sadiq Khan approved “one of the largest and most ambitious regeneration schemes in Europe” on the north bank of the Thames. Barking Riverside, as it’ll be known, [...]
New homes on sale in Stanton William’s Riverwalk, the curviest towers on the River Thames September 16, 2016 Riverwalk, Westminster From £1.25m A scheme at Millbank on the north bank of the Thames is throwing open its doors this weekend to prospective buyers. Over 75 per cent of the homes have been sold off-plan at the Ronson Capital Partners development, which has 119 one to four bedroom apartments spread across two buildings. The [...]
Three signs the iPhone 7 will be a huge hit for Apple September 15, 2016 The iPhone 7 received a cautiously optimistic welcome when it was unveiled a week ago. While new features such as being waterproof and a shiny new jet black colour were largely surface changes rather than a revolutionary new direction for the brand, they were certainly likely to dazzle potential buyers, analysts thought. Apple has quite a bit riding [...]
Home purchase lending fell by 13 per cent in the month following the Brexit vote September 14, 2016 The first figures on mortgage lending to cover the full month since the Brexit vote show that lending to home owners fell 13 per cent month-on-month in July, and 12 per cent year-on-year. According to the Council of Mortgage Lenders (CML), the amount of borrowing from first-time buyers has also declined month-on-month and the buy to let market has [...]
Are fears about the UK commercial property market overblown? September 14, 2016 As Columbia Threadneedle Investments prepares to join Aberdeen Asset Management and Canada Life in re-opening its £1.4bn property fund, doubts persist over the future of the UK’s commercial property market. The Brexit vote brought three years of double-digit returns from UK property investments to a juddering halt. By early July, panicked investors clamouring to withdraw their [...]