Lettings head at Foxtons joins rapidly-growing Lomond Group to lead entry into London market March 9, 2022 Ed Phillips will leave his position to become the new group CEO at the Lomond Group, as the latter builds on a busy 12 months that included 25 key acquisitions.
North Sea Oil won’t save us from the energy crisis if we don’t invest in renewables March 9, 2022 The UK has a fundamental problem with its energy supply: gas. For as long as we’re tied to the global gas market, the successful greening of our economy by 2050 – and the economic benefits and lower prices it brings – is not much more than a pipe dream. Our reliance on foreign gas –and [...]
HMRC owes construction workers close to £1.5bn following pandemic property boom March 8, 2022 Almost £1.5bn is owed to Britain’s construction workers by the taxman following the pandemic property boom, according to new data shared with City A.M. today. It is estimated that more than 1m people working in the sector could be owed a tax refund, after the industry “weathered a particularly fierce storm” to keep Britain building [...]
Value of mortgage advances tops £70bn as real estate experts say market is cooling off March 8, 2022 Real estate experts have said the latest mortgage lenders statistics show a market cooling off from its earlier frenzy. In figures published by the Bank of England on Tuesday, the outstanding value of all residential mortgage loans was £1,613.4bn at the end of the fourth quarter of 2021. This was 4.7 per cent higher than [...]
Pi Labs unveils $90m fund to target ‘proptech’ startups March 8, 2022 London-based venture capital firm Pi Labs has unveiled a new $90m fund today as it looks to supercharge its investment into real estate tech startups.
House prices increase at fastest annual pace since 2007 as property values jump by almost 11 per cent March 7, 2022 House prices increased at the fastest annual pace since 2007 in February to reach a new record high, according to an index. At 10.8 per cent, the annual rate of house price growth was the strongest since June 2007, Halifax said. The increase took the average house price across the UK to a new record [...]
As first time buyers save for an average of four years, half of them give up on ownership dream March 5, 2022 First-time buyers are saving for an average of four years in order to raise the deposit to get on the property ladder, new research showed today. The number of first-time buyers rose to nearly 410,000 last year with average deposits estimated at around £53,935 but affordability is still being squeezed with house prices estimated to [...]
London faces logistics space crunch as e-commerce firms take over city March 4, 2022 London would run out of available industrial space within five months, should the current take-up rate continue, amid an e-commerce boom. The capital and the South East are facing running out of industrial and logistics spaces, according to a report published today by London First, in partnership with CBRE. It comes as the pandemic has [...]
Plans to crack down on money laundering may be vulnerable to loopholes, campaigners say March 3, 2022 Campaigners have warned that the government’s plans to crack down on “foreign criminals” laundering money through the UK property market, may be vulnerable to loopholes. The comments come after the government set out plans to force those who own UK property through foreign-registered shell companies to reveal their true identities. The plans will see the [...]
London renters compete for homes with Powerpoint presentations and pet CVs as stock levels sink March 3, 2022 Prospective renters are going above and beyond to win landlords’ affections as stock levels for homes have diminished. The disappearance of Covid restrictions has sparked a revival for the capital’s rental market, while estate agents report historically low levels of stock. High demand has seen rents surge past pre-pandemic levels and London landlords are once [...]