£12m in remortgages and drawdowns every single day: Homeowners release record £4.4bn in property wealth January 19, 2022 Older homeowners released a record £4.4 billion in property wealth last year at a rate of more than £12 million a day as customers helped family and secured their own finances by repaying debt or remortgaging existing borrowing, according to new data. Around one in five equity release plans (19 per cent) taken out in [...]
Average UK house price was £271,000 in November as 2021 prices ‘defy gravity’ January 19, 2022 UK average house prices increased 10.0 per cent over the year to November 2021, up from 9.8% in October 2021, official figures have revealed. According to the Office for National Statistics house price index, the average UK house price was £271,000 in November. This was £25,000 higher than the same time the year prior. Jamie [...]
The ESG regulation race is on January 18, 2022 If you are struggling to keep up with all the ESG regulation that is emerging around the world, you are not alone. The volume of new rules may feel overwhelming or even intimidating. It helps to remember what they try to do: making sure that the investments we need to get our economies to a [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 18, 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. Knight Frank Real estate giant Knight Frank has posted a new partner to its London office leasing team, who will work closely with the capital’s landlords. Mike Voller, who re-joins the firm after six years, will advise [...]
Coinweb and Coldwell Banker join forces with mission to enable mainstream real estate tokenisation January 17, 2022 Development has already begun on the platform, with a product release in beta planned for Q3 2022, from the joint project between Coinweb and Coldwell Banker.
Brits shrug off cost of living squeeze and rush to snap up homes January 17, 2022 Brits are shrugging off the cost of living crisis and higher mortgage costs and are rushing to snap up homes, reveals a new study published today. A housing market frenzy in 2021 triggered by the pandemic engineering a mass shift in housing preferences and the stamp duty holiday has bled into the new year. The [...]
City Moves: Who’s switching jobs in the Square Mile this week? January 13, 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. Aon Professional services firm Aon has hired an ex-HSBC director as its new enterprise client leader for financial institutions team. Pete Rutherford, who has held positions at Abrdn, the Royal Bank of Scotland and Clydesdale Bank, brings [...]
London home to £41bn empty properties despite soaring buyer demand January 13, 2022 Some £41bn worth of empty homes are sitting vacant across the London market despite increased buyer demand. An estimated £200bn worth of homes are vacant across Britain, a 2.1 per cent increase on the previous alone. Estate agents Barrows and Forrester analysed government data to reveal that London is home to 80,295 empty properties with [...]
Nightcap eyes portfolio expansion as CEO ‘proves critics wrong’ after pandemic-launch January 12, 2022 Bar operator Nightcap hit £15.5m in net sales during its first full year of trading, as it lines up 25 new site openings this year. Boss Sarah Willingham, whose group owns Tonight Josephine and the London Cocktail Club, told CityA.M. she had “never been prouder” to work in hospitality than during the pandemic. The company [...]
Nickel prices rise to 10-year highs as car giants embrace electric vehicles January 12, 2022 Nickel prices surged to decade-highs on Wednesday, as car giants scramble to secure supplies for electric vehicle batteries as the market booms.