Housing market confidence cools in November November 30, 2020 Confidence in the UK housing market cooled in November, with fewer people thinking that their property increased in value compared to last month. Bankers Halifax said that just 14 per cent of people surveyed said that they believed their home had become more valuable this month, compared with 17 per cent in September and October. [...]
Planning permission granted for 454 new homes in Wembley November 27, 2020 Brent Council has given the green light on building 454 new homes, including 40 per cent affordable housing, next to Wembley Park underground station. The scheme covers a 1.6-acre site, and will be delivered across five buildings. The new homes will be a mixture of studios, one, two and three-bedroom apartments. The affordable homes will [...]
Evergrande Property ‘prices at lower end’ in $1.8bn Hong Kong IPO November 26, 2020 Evergrande Property Services Group – part of China’s second-biggest property developer – reportedly achieved the lower end of expectations to raise $1.8bn in its major Hong Kong IPO. The public offering priced at HK$8.80 (85p) per share, according to sources who spoke to Reuters. The marketed range was HK$8.50 to HK$9.75. It comes with Evergrande [...]
Sunak pledges £100bn in capital spending to fund ‘once in a generation’ infrastructure investment November 25, 2020 Capital spending will increase to £100bn next year, Chancellor Rishi Sunak pledged today, as the government looks to make a “once in a generation investment” in its infrastructure. The plans, which were announced as part of today’s Spending Review, will see new money for housebuilding, a “levelling-up” fund for local projects, and a new national [...]
OBR forecasts house prices to fall next year as furlough and stamp duty holiday end November 25, 2020 House prices are expected to fall next year due to the end of the stamp duty holiday and a hit to household incomes when the furlough scheme draws to a close.
Franco Manca owner The Fulham Shore to open new sites in vote of confidence for London’s restaurant sector November 25, 2020 Franco Manca owner The Fulham Shore is opening new London restaurants in a vote of confidence in the capital’s hospitality sector despite the impact of the coronavirus pandemic. The company said today that it launched a Franco Manca restaurant in Waterloo in September that had traded well before the most recent lockdown, despite lower than [...]
Hoxton hotel chain Ennismore to merge with Ibis owner Accor November 25, 2020 Ennismore, the owner of London hotel chain Hoxton, is planning to merge with Accor, the parent company of Ibis, Novotel and Mercure, in further consolidation for the struggling travel and tourism industry. The companies announced an all-share merger which is expected to create cost synergies of €15m a year, while the deconsolidation of existing leases [...]
Tories call for Sadiq Khan to scrap rent control push after policy ‘failed’ in Berlin November 25, 2020 City Hall’s Conservatives are calling for Sadiq Khan to drop his rent control policy, after new analysis this week showed similar measures depleted Berlin’s supply of new flats. The new study showed the supply of rental apartments fell by 41 per cent while demand soared by 172 per cent within a year of Berlin’s rent [...]
Exclusive: Cautious investors reluctant to launch funds in polarised market, says Savills CEO November 25, 2020 Institutional investors are increasingly reluctant to pour capital into property funds, as the pandemic has turned the sector’s investment cycle upside down, according to Savills group CEO Mark Ridley. Speaking exclusively to City A.M., Ridley said during a wide-ranging interview that October alone saw the third highest level of monthly redemptions ever experienced by open-ended UK real [...]
London to buck UK trend with uptick in 2020 housing sales completions November 25, 2020 London is expected to buck the national trend to record an uptick in housing sales completions this year, according to the latest research. Completed sales across the UK are expected to fall six per cent compared to last year, an improvement on the original forecast of a 15 per cent drop, as the housing market [...]