Off-market property sales account for one in five in London: Is it for you? June 10, 2022 Despite ferocious headwinds, the London property market is fizzing, with estate agents from Wimbledon to Walthamstow seeing homes listed and sold within days. This fierce competition has led to a boom in off-market sales, which hit a new record high this year, according to Hamptons. In the first quarter of 2022 they shot up 23 [...]
Scotch on the blocks: The world’s most expensive whisky auction June 10, 2022 Sotheby’s has partnered with spirits giant Diageo to sell what could be the most expensive casks of Scotch whisky ever sold at auction. The casks in question are two of the rarest single malts in existence, from two of Scotland’s most legendary distilleries; a 1979 Port Ellen, from the island of Islay, and a 1982 [...]
Johnson unveils series of housing reforms to increase home ownership June 9, 2022 Boris Johnson has launched a “mortgage review”, which will look at ways at extending low deposit home loans, as a part of a series of newly unveiled housing reforms. Number 10 said the review would “look at what other countries are doing and see if we can further extend opportunities in the mortgage market” and [...]
UK house price skyrockets to record £289k: ‘Any mutterings of a market crash are greatly exaggerated’ June 8, 2022 The average UK house price hit a record high of £289,099 in May, but the pace of growth in values is slowing, according to an index this morning. Russell Galley, managing director of Halifax, said: “The average cost of buying a home in the UK is up 1 per cent, or £2,857, on last month, [...]
Frasers adds troubled Missguided to empire in £20m takeover June 1, 2022 Frasers Group has snapped up beleaguered online retailer Missguided, the British retail giant confirmed in a regulatory filing today. The Mike Ashley-founded group, which owns House of Frasers and Sports Direct, has bought Missguided for £20m, following its collapse earlier this week. Fast fashion rival Boohoo was understood to be interested in buying the collapsed [...]
Mortgage approvals fall following interest rate rises May 31, 2022 Mortgage approvals have fallen to the lowest level seen since the peak of the UK’s house-buying frenzy in June 2020, according to official data today. Brits were approved 66,000 mortgages in April, down from 69,500 in March, data from the Bank of England has revealed. This is slightly below the pre-pandemic average of 66,700, [...]
The City View: Sainsbury’s to cut prices, and the importance of UK private equity May 30, 2022 Today Andy Silvester talks to Michael Moore, Director General at BVCA. They discuss the scale of private equity and venture capital in the UK, their importance in the UK’s employment market, and how vital they are for companies looking to scale up. And in the headlines: Sainsbury’s CEO Simon Roberts has said that the supermarket [...]
Homes sit on the market for longer as prices hit yet another record high, says Zoopla May 30, 2022 The time between listing a property and a sale is growing increasingly longer, according to property platform Zoopla, as house prices hit yet another record high. In London, the average time it takes for a three-bed house to be whisked off the market has jumped from 17 days in March to 21 days in April. [...]
Homeserve reveals soaring revenues and profits amid £4bn takeover May 24, 2022 Homeserve has reported soaring revenues and profits as it maintains it strong pandemic-driven performance. The group is now set for a takeover.
Property Special: Will the Bojo mortgage fill the Help to Buy hole? May 23, 2022 The so-called Mortgage Guarantee Scheme (MGS), commonly known as the Bojo Mortgage, is a more market encompassing version of the Help to Buy scheme, allowing lenders the option to purchase a guarantee on mortgage loans for those with less than a 10 per cent deposit. Launched in April of last year, it can be utilised [...]