Soaring interest rates could spark five per cent London house price fall October 31, 2022 Soaring interest rates and a tough cost of living crisis could send London house prices on a downward spiral, new research published today warns. Home prices in the capital are on course to shed five per cent next year, driven by sellers dropping prices to attract buyers hit by an affordability crunch, according to property [...]
Weekend Read: Britain’s ‘secret’ property market generates staggering £30bn in just one year October 29, 2022 Britain’s secret property market saw almost £30.9bn worth of property transactions last year, the highest annual market value in well over a decade. New figures show that in 2021, 98,235 homes are estimated to have been sold off-market, a 51.4 per cent increase on the previous year and the third largest annual total of off-market [...]
Royal Exchange owners Oxford Properties sell City gem to Ardent for around £50m October 28, 2022 The owners of the Royal Exchange have sold the City’s retail gem to an Atlanta-based real estate investment firm. The retail element of the neoclassical site – which is home to luxury brands including Tiffany & Co and Hermès – has been snagged by Ardent UK, a subsidiary of its US owner. While Ardent did [...]
Joining the dots: Interoperability and the metaverse October 27, 2022 Christopher Eklund, Senior Associate with Reed Smith takes a look at how interoperability can help the metaverse evolve for everyone.
City Moves: Who’s switching jobs in the Square Mile? October 26, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Carter Jonas Property consultancy Carter Jonas has a new head of science and technology to help build the firm’s expertise in the UK’s sector. Matt Lee He joins from Manchester University NHS Foundation Trust, where he led [...]
Subdued demand sweeps London office market as Grade A stock hits decade-low October 25, 2022 Demand in London’s office market is faltering, as businesses grow increasingly picky about the quality of the spaces they occupy post-lockdown. According to property consultancy Gerald Eve, demand has fallen from its recent peak of 9.4 per cent in the second quarter of this year, to 8.2 per cent over the past few months. Political [...]
Backing the central bank pivot is a risky bet October 25, 2022 It is easy to criticise central banks for heaping pain on households and businesses. But, this is exactly what they are supposed to do under current economic conditions. Inflation in the UK, US and eurozone has hit 10.1 per cent, 8.2 per cent and 9.9 per cent respectively, all historic highs. The Bank of England [...]
Rishi Sunak: I will fix Truss ‘mistakes’ and win trust of the UK October 25, 2022 The UK’s new Prime Minister Rishi Sunak has vowed to fix the “mistakes” made by Liz Truss and to earn the trust of the British people after the past month of chaos. Sunak said outside Number 10 that the country was “facing a profound economic crisis”, but promised that “we will create a future worthy [...]
London’s FTSE 100 boosted by Truss trampled stocks regaining ground after Sunak victory October 24, 2022 London’s FTSE 100 today was lifted by stocks that have suffered during the last month’s financial market turmoil regaining losses. The capital’s premier index closed 0.64 per cent higher at 7,013.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.76 per cent to [...]
The taxing questions over your crypto assets October 24, 2022 As HMRC continues to update its guidance on the taxation of crypto assets, CMS Law explains the current state of play.