Concoction of risks weighs on London markets October 4, 2021 A concoction of risks threatening to scupper the global economic recovery from the Covid-19 crisis weighed on London markets this morning. The capital’s premier index edged down 0.12 per cent to 7,018.60 points during the first couple of hours of trading today. Ongoing supply issues, severe shortages, accelerating inflation and the growing likelihood of central [...]
Buyers seek second homes in London to avoid countryside commutes October 4, 2021 Commuters facing the reality of daily journeys into the city are hunting for London homes with a renewed zest. Home buyers are eager to have their cake and eat it too, with some people having settled in the countryside now looking for second homes in the city. The number of new prospective buyers registering with [...]
Evergrande shares suspended in Hong Kong amid takeover rumours October 4, 2021 Turmoil in Hong Kong this morning, as trading in shares from property giant Evergrande Group and its real estate management unit Evergrande Property Services have been suspended. The companies’ filings did not specify why the shares were stopped from trading. Cailian, a Chinese online news service affiliated with the state-run newspaper Securities Times, said another [...]
A house in St John’s Wood with a garden to die for October 1, 2021 ‘Our England is a garden that is full of stately views, / Of borders, beds and shrubberies and lawns and avenues’ – so begins Rudyard Kipling’s 1911 poem, The Glory of the Garden. Over a century later, England’s towns and cities are not quite so green, and houses with decent-sized gardens are harder to come [...]
Can EVs really handle a family holiday? October 1, 2021 Electric vehicles (EVs) have enjoyed soaring sales in recent years but there are still many EV doubters out there, not least because of the charging infrastructure. Among them is Allegra Stratton, the UK government’s spokesperson for the upcoming COP26 climate summit. She made headlines by saying she couldn’t use an EV because stopping to recharge [...]
Rising construction costs will led to further house price growth September 30, 2021 House prices are expected to further soar thanks to increasing construction costs. Annual house price growth eased to 10 per cent in September, from 11 per cent in August, according to Nationwide Building Society. London was the weakest performing area of the UK in the third quarter of 2021 while the average UK house price [...]
Shortages and spiralling costs deal blow to Chinese economy September 30, 2021 The steam engine of China’s economy unexpectedly shrank last month, indicating the global recovery from the Covd-19 crisis is losing momentum. China’s manufacturing purchasing managers’ index, a closely watched indicator of the health of the country’s economy, notched a reading of 49.6 in September, lower than the 50.1 predicted by analysts. China, like much of [...]
Build, build, build, stop! September 30, 2021 Ernst Hemingway once wrote that bankruptcies happen gradually, and then suddenly. Such words seem appropriate to describe the fate of Evergrande, one of China’s largest real-estate developers, that appears set to default on debt interest repayments. It had been known for months that the giant Asian firm was experiencing severe difficulties caused by a slowdown [...]
As stamp duty threshold reverts to £125,000 from tomorrow, estate agents call for review September 30, 2021 From tomorrow, the stamp duty threshold will revert to its normal level of £1250,000, prompting real estate agents to call for a review of the “outdated” levels at which home buyers start paying stamp duty as a tax break ends. Propertymark said the stamp duty holiday has been a success and its normal thresholds should [...]
Exclusive: London remains by far the UK’s hottest property investment spot but rural areas on the rise September 29, 2021 London remains the primary focus among UK property investors, according to new research shared exclusively with City A.M. today. Among those planning on purchasing a property in the next 12 months, London emerged as the UK’s leading investment hotspot, with 40 per cent considering investing in the capital, FJP Investment found. Behind London, the West Midlands [...]