Wework hits the brakes on London expansion after Softbank rescue deal November 1, 2019 Wework’s new owner has put its London expansion plans under review after Softbank stepped in with a massive bailout for the company, it is reported. The co-working space giant, which scrapped plans for an initial public offering (IPO) this year, has paused 28 possible deals as Softbank seeks to change tack. Read more: Wework ‘could [...]
Office Space: Inside the opulent Mayfair base of luxury property developer Clivedale November 1, 2019 Real estate firms’ offices tend to fit into one of two moulds: a converted Mayfair townhouse, an old-fashioned relic left over from the days where Hanover Square was overrun with estate agents in braces and pinstripe suits; or a clinical, corporate space interchangeable with that of any other property company, law firm or accountant. Super-prime [...]
Focus on Willesden: A well-connected area where North London buyers can upsize November 1, 2019 One of the universally acknowledged truths of the London housing market is that needing more space often means moving further out. But it need not mean going all the way out into the sticks – and the North West London neighbourhood of Willesden is testament to that. While it is on the zone two-three border [...]
Property of the Week: An East London mews house fit for a tech guru November 1, 2019 Mews houses are typically associated with quaint, stucco-ed streets in Kensington or Marylebone. But this mews house which has just come on the market at Peary Place, just off the bustling Roman Road in the heart of Tower Hamlets, has a rather different vibe. Like most mews, Peary Place was built as a stables in [...]
Revealed: The London boroughs most likely to avoid a Brexit house price crash November 1, 2019 So you’re a first-time buyer who has finally saved up enough to get on the housing ladder. All that’s left now is to decide which corner of the capital you’re going to invest your cash in. That decision is arguably more important than ever, given that a recession is a very real possibility – particularly [...]
Opinion: Things are looking up for London renters as price increases slow November 1, 2019 London’s property prices have long been regarded as endemically high, preventing many first-time buyers from purchasing their first home and boosting demand for privately rented properties. The result has been the emergence of Generation Rent: the demographic prepared to live like students in shared accommodation so that they can afford to be close to all [...]
Falling London house prices hit Foxtons’ revenue October 31, 2019 London estate agent Foxtons reported falling sales revenue in the third quarter as house prices in the capital took a hit. Sales revenue slumped 15 per cent to £8.4m, down from £9.9m as ongoing political uncertainty led to lower volumes, falling prices and fewer high value sales. Read more: Foxtons chair steps down after turbulent [...]
London homes take longer to sell than other UK cities October 30, 2019 Property owners seeking to sell their homes in London could be forced two wait an extra two weeks compared to other major UK cities, as the capital suffers from weak market conditions. Residential properties now take 14.5 weeks to sell, more than one month longer than it took to complete a sale in 2016. Read [...]
Mortgage approvals boosted as buyers rush ahead of Brexit October 29, 2019 Mortgage approvals were boosted last month as prospective buyers rushed to complete home purchases ahead of the 31 October Brexit deadline date. The latest figures from the Bank of England (BoE) showed mortgage approvals for house purchases reached 65,919 in September after falling to a three-month low of 65,681 the previous month. Read more: New [...]
UK house prices: Growth ‘subdued’ in wake of Brexit slowdown October 29, 2019 House price growth remained below one per cent for the 11th consecutive month in October, as hopeful homeowners sat tight amid Brexit uncertainty. House prices in the 12 months to October rose 0.4 per cent to £215,368, according to the new figures from Nationwide. Read more: House prices suffer slowest October rise in more than [...]