Exclusive: Millions of London tenants should brace themselves for rent increase of £1,000+ this year April 27, 2022 Millions of Londoners who currently rent in the capital face an increase in their housing costs of more than £1k this year. As energy bills climb and the cost of living crisis rages, London remains by far the least affordable region of the UK rental market, with the average tenant currently paying £21,140 per year. [...]
Overseas executives flock back to London as the relocations market explodes April 27, 2022 International business executives are flocking back to London, according to new data shared exclusively with City A.M. today, after the pandemic pushed many to return overseas. The return of bankers, investors and the sought have driven demand in the prime central London relocations market up 150 per cent in the first three months of this [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
Sombre faces in Canary Wharf as HSBC profits nosedive on Ukraine war and inflation worries April 26, 2022 It’s not the best of mornings for HSBC as the banking giant saw its first-quarter profits tumble by more than a quarter after taking a hit on expected bad debts due to the Ukraine war and soaring inflation. The lender posted a 28 per cent drop in pre-tax profits to £3.3bn for the first three [...]
Death of the office? Don’t tell City businesses as leases shoot up in the first quarter April 26, 2022 London’s office market looks fitter and healthier than ever before, according to the two of the UK’s largest property firms, despite the lures of working from home. Take up of office leases in central London shot up 89 per cent year-on-year in the first quarter, CBRE data shared exclusively with City A.M. revealed. City firms [...]
As house prices hit another all-time high, we need to cut bureaucracy burdening sales April 26, 2022 Yesterday, average house prices in England hit a record high for the third consecutive month, according to RightMove. They reached an average of £360,100. High buyer demand and a limited number of homes available are likely to send prices even higher. Against this backdrop, it’s about time we reconsider the way we buy and sell [...]
Standard Chartered snaps up virtual land as lenders accelerate metaverse investment April 25, 2022 Emerging markets lender Standard Chartered has announced a push into the metaverse today as it snaps up a plot of land in decentralised gaming world The Sandbox.
LondonMetric Property locks sights on logistics spaces in recent buying spree April 25, 2022 LondonMetric Property has undertaken a buying spree across the city, as warehouse spaces in the capital climb to the top of the property investment agenda. The FTSE 250 property firm has dished out £26.7m on six logistics sites in the city, as Brexit and the pandemic push businesses to bring their supply chains closer to [...]
UK house prices hit ‘hat-trick’ new high, climbing more than £5.5k since March April 25, 2022 The average price of a home has hit its third record high in just three months, as spiralling costs dampen the hopes of Londoners looking to climb the ladder. Prices have jumped 1.6 per cent since March – the equivalent of £5,537 – to £360,101 on average across the UK, according to Rightmove today. With [...]
Weekend read: First-time home now have to stump up £33k more than before Covid hit April 24, 2022 How much worse off are Britain’s first-time buyers now the pandemic starts to settle? Quite a bit, as it turns out, largely as a result of the post-pandemic property market boom. A new analysis of first-time buyer house prices looked at the cost of purchasing a first home before the start of the pandemic in [...]