Record number of homes selling for the asking price or above June 25, 2021 A record number of homes that completed in January 2021 sold for their asking price or above, and those that didn’t missed the mark by only a small amount. More than a third (37%) of homes in England and Wales achieved their asking price or more in January 2021, while those that didn’t achieved on [...]
FTSE 100 jumps as investors digest Bank of England rate decision June 24, 2021 The FTSE 100 climbed this afternoon as investors digested the Bank of England’s decision to hold rates at a record low. The capital’s premier index gained 0.56 per cent in afternoon trading to reach 7,113. A weaker pound helped to the lift the export-heavy blue chip index. Food delivery company Just Eat gained 2.19 per [...]
Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]
Minister: UK imperial and Commonwealth ties to India will help secure trade deal June 24, 2021 The UK and India’s shared imperialist and Commonwealth history will help the two countries close a trade deal, according to trade minister Ranil Jayawardena. Jayawardena also told City A.M. in a wide ranging interview that a trade deal would help the UK have more “honest conversations” with India over things like its human rights and [...]
Booming property market helps housebuilder Crest Nicholson swing to profit June 24, 2021 Soaring house prices and a flurry of activity in the market helped Crest Nicholson move from a loss to a profit in the six months to 30 April. Profit before tax at the housebuilder for the first half of 2021 stood at £36.3m, up from a loss of £51.2m a year earlier. Revenue in the [...]
London property: Hong Kong buyers flood Canary Wharf, Kensington and Mayfair June 23, 2021 London’s property market is seeing an increasing number of Hong Kong residents looking to buy or rent a home in the capital, with Canary Wharf, Kensington, Covent Garden and Mayfair being particularly popular. Sales enquiries from Hong Kong buyers have risen by 20 per cent over the past 18 months whilst demand for rental properties [...]
‘London will flourish again’ says Berkeley Group as it lands £500m profit June 23, 2021 London received a vote of confidence from Berkeley Group this morning as the housebuilder’s boss said he believed the capital is set for a post-pandemic boom. The Group made a profit before tax of more than half a billion pounds in its last financial year, much of which was driven by the sale of properties [...]
Persimmon and Aviva agree to make leasehold payments fairer for homeowners after CMA probe June 23, 2021 Following an investigation by the UK’s markets watchdog, housebuilder Persimmon and financial services group Aviva have agreed to overhaul their leasehold contracts to make payments fairer for homeowners. The Competition and Markets Authority (CMA) investigation into Persimonn’s leaseholds pushed the housebuilder to cap the price of freehold at £2,000 in its Right to Buy scheme [...]
Average rental prices in London climb 68 per cent since financial crash June 22, 2021 Rent prices have climbed across England since the financial crash in 2008, but nowhere more so than in London, where rents are now 68 per cent higher than they were in 2008/09. In the wake of the 2008/09 economic downturn, average rent across the capital stood at £977 per month, according to data from Ascend [...]
Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]