Bubble trouble: London among global cities most at risk of housing bubble September 27, 2018 London is among the top cities most at risk of a housing bubble, according to a new report measuring the world's most overpriced property markets. Hong Kong was ranked as the place most susceptible to a swift downturn after years of soaring house prices, while Munich, Toronto and Vancouver were also among the other most [...]
City Moves for 27 September 2018 – who’s switching jobs at CBRE, Invesco and Redridge? September 27, 2018 Today's City Moves cover property, fixed income and due diligence. Take a look at these movers and shakers: CBRE The world’s leading real estate adviser, CBRE, has appointed Chiara Zuccon as a senior director to spearhead debt origination within its market leading development and residential investment team. Chiara is joining from the Royal Bank of [...]
Transport for London steps up property ambitions after unveiling new partnership September 26, 2018 Transport for London (TfL) has unveiled plans for a new partnership with one of the capital’s affordable housing developers today, in a sign that the body is ramping up its move into the property market as it looks to pay off its near-£1bn debt pile. In a new joint venture with property developer Apartments [...]
UK mortgage approvals for new house purchases tumble despite growth in remortgaging September 26, 2018 The number of mortgages approved for house purchases was almost five per cent lower in August compared with the same time last year, providing fresh evidence of flat activity in London’s property market. Despite the fall in new mortgage approvals, remortgaging soared 9.2 per cent during the month, as a rising number of homeowners [...]
Q&A: Adam Tooze on the financial crisis, Trump and the City of London after Brexit September 25, 2018 Ten years after the start of the financial crisis, Columbia University historian Adam Tooze’s epic work of economic history, Crashed, describes a world still coming to terms with its aftermath. He spoke to City A.M. about the US, the City of London, and where the next crash could come from. Why write this book [...]
Hostel market showing ‘early signs of success’ as customer base broadens beyond backpackers September 25, 2018 One of the UK’s leading premium hostel operators reported a 60 per cent rise in revenues in the six months to the end of June, in the latest sign of the growing demand among families and business people to a market traditionally dominated by young backpackers. Safestay, an emerging high-end owner of hostels in Europe, [...]
Cost-cutting overhaul unveiled as McCarthy & Stone shares climb September 25, 2018 McCarthy & Stone shares climbed more than seven per cent in morning trading, after the retirement housebuilder unveiled a new direction which is to focus more on cost-cutting and less on expansion. As part of the overhaul the FTSE 250 firm said that John Tonkiss, the company’s chief operating officer, will take over as [...]
The UK’s post-Brexit immigration rules must be international, not just continental September 24, 2018 Customs arrangements, agricultural subsidies, the Northern Ireland backstop – all vital parts of the Brexit talks, and all unlikely to provoke much of a reaction outside of those with direct involvement in the respective areas. However, immigration after Brexit – that gets people talking. All too often used by low politicians with high ambitions [...]
German money rises in West End after Verde deal September 24, 2018 German investment in the West End has reached £515m for the year-to-date on the back of last week's announcement that German fund manager Deka Immobilien GmbH completing one of the largest deals this summer, buying the Verde office building in Victoria for roughly £460m on Friday. The deal pushed investment levels up to £515m, compared with £476m [...]
How much is your property’s view of the London skyline worth and are some landmarks worth more than others? September 24, 2018 As the capital’s residential buildings get taller and the views more panoramic, the new kids on the London skyline are bringing the capital into sharper focus for property buyers. The Shard, Cheesegrater and Walkie Talkie are now vying for attention with the likes of age-old landmarks like Tower Bridge or the historic royal palaces. For [...]