Battersea panic stations: Investors flee luxury scheme as up to £2m is knocked off some asking prices March 4, 2016 More than 50 luxury flats on sale at London’s iconic Battersea Power Station have had their prices slashed since January, with some seeing discounts as large as 38 per cent in a sign that wealthy foreign investors are scrambling to desert the scheme. The news adds to fears that demand for prime homes in the capital is [...]
Canary Wharf homes are now a reality – get them while they’re hot March 3, 2016 When the first homes went on sale at 10 Park Place on the Canary Wharf estate, there were buyers queuing a day early for them. When developer Galliard launched Maine Tower nearby, around £140m of property sold out within four hours, the equivalent of £580,000 worth of sales every minute. Now, it’s Telford Homes’ turn [...]
Thanks to Landmark Place, you never have to leave the Square Mile March 3, 2016 Two new glass structures are set to join the banks, law firms and sky gardens that line the City’s riverside in the summer of 2018. Only this time, they’ll be housing wealthy residents who want to live on top of the financial district. A nine storey block will interconnect with an 11 storey block to [...]
London house prices: London renters have paid a quarter of the price of an average home to their landlords in the past five years March 3, 2016 There's no easy way to say this: if you're renting in London, you could probably have put together a 23 per cent deposit for the average home in the capital with the rent you've paid in the last five years. New research by Shelter suggests renters paid a total of £89,269 over the past five [...]
Surge in mortgage approvals has no impact on house prices ahead of stamp duty surcharge – but the proportion of people renting rises again March 3, 2016 The impending stamp duty surcharge is distorting the housing market, with a "sharp" increase in the number of mortgage approvals in the first month of the year – the highest number since January 2014. But despite this, there has been just a slight uptick in house price growth, according to Nationwide, up 0.3 per cent in February [...]
UK house prices: Institute of Economic Affairs (IEA) says government failure to confront Nimbys is fuelling the housing crisis March 2, 2016 A leading free-market think tank has accused the government of yielding to self-interested local residents at the expense of pressing ahead with major housebuilding projects. In a new report out today, the Institute of Economic Affairs (IEA) argues that the government’s “failure to tackle the housing crisis is due to its unwillingness to confront the [...]
UK house prices: More than half of first-time buyers would buy ex-army barracks to get onto property ladder March 2, 2016 Times are tough for first time buyers and more than half would buy just about anything – from a church to a school or ex-army barracks – to get on the property ladder, according to Your Move and Reeds Rains. According to the estate agency’s latest first time-buyer barometer, 57 per cent claimed they were willing [...]
We profile five young developers that are shaking up the UK property industry February 25, 2016 The free-thinking “millennial generation” could be our most entrepreneurial age group. Having pushed the boundaries of communications and technology, many are now challenging traditional businesses, including property development, and are making a significant mark. They may be young, but the self confidence and business sense of the five developers profiled here has helped them deliver [...]
Help to buy could be worsening London’s housing crisis and driving young people out of the capital February 25, 2016 Are you tired of London? Want to move to a quieter, cheaper part of the country? If so, you’re not alone – every year, thousands of people quit the city in search of a more tranquil existence. However, they tend to be replaced by a new wave of incoming urbanites, typically young people attracted by London’s [...]
Save money on international transfers February 25, 2016 Stock markets have provided an interesting if not slightly stormy narrative to the beginning of 2016, and many City commentators are forecasting more of the volatility that was so prevalent during last year. If this proves to be the case currency markets are likely to be a bit choppy too. Sterling weakness Just like stock [...]