British Land confident in resilience ahead of Brexit vote May 16, 2016 British Land said it remains confident of having a good 2016 despite uncertainty over the global economy, EU referendum and new London mayor Sadiq Khan. The FTSE 100 property giant today reported an increase in underlying profit in the year to 31 March 2016. The figures The company’s underlying profit was £363m, up from £313m in [...]
The non-Brexit bits from the Bank of England and the International Monetary Fund May 13, 2016 You may have noticed, there have been some pretty stark warnings about what Brexit could do to the UK economy this week. Both the International Monetary Fund (IMF) and the Bank of England waded into the debate arguing that a vote to leave the EU could trigger a recession. Cue outrage from Leave campaigners. But [...]
Brexocalypse Now? The multi-billion pound Brexit risk to the Square Mile, mapped May 13, 2016 Here's another apocalyptic view of the potential consequences of Brexit – this time on the City of London. [Scroll to the bottom to see a visualisation of how Brexit could affect the City's property sector] New research suggests billions of pounds in property value and thousands of jobs are at risk of being wiped from the [...]
London landlords left £1,869 out of pocket as vacant rental properties take almost three weeks to fill May 13, 2016 LONDON landlords are typically left with a 20 day vacancy between tenants, often amounting to lost income of £1,869, new research has shown. Despite the highly competitive rental market in the capital, letting agents claim that it takes almost three weeks to fill a property in London, although this is still two days less than [...]
Will Brexit knock house prices? Not in prime central London May 13, 2016 In a bid to sway voters, George Osborne is predicting Armageddon in every economic sector as the collateral damage of Brexit. This week he pointed the finger at property prices, predicting a significant dampening if the UK votes to leave. The chancellor is correct that the property market does stall in the face of investor uncertainty, [...]
Property Entrepreneurs: How flatsharing website Weroom spread through social media May 12, 2016 Flat sharing is great – so long as you get on with your fellow flatmates, and don’t fall out over the washing up, or who has paid the bills. But those softer issues can be hard to think about, when you’re on the hunt for a place to stay. And it was this set of [...]
Why paying for London property in US dollars could save you a fortune May 12, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. Wise investors spend their time looking for smart places to put their money. The current weakness of the pound against the US dollar has presented an opportunity in the London property sector for smart money from outside [...]
Prime Minister David Cameron will name foreign firms that own property in the UK May 12, 2016 Strides taken by Prime Minister David Cameron to tackle international corruption have been met with applause from business and campaigning organisations alike, but with warnings that measures need to be thought out and more needs to be done. The Prime Minister plans to set up a register of foreign companies that own UK property, which the [...]
Sadiq Khan’s rent caps could benefit London landlords May 12, 2016 London’s newly elected mayor, Sadiq Khan, has already committed to making the London housing crisis a priority. He has announced a raft of policies aimed at helping the capital’s two million private renters, and one is attracting particular scrutiny and controversy – the introduction of a London rent cap. Few people doubt rents in London [...]
London is still the world’s most luxurious property market while Auckland is the “hottest” city according to Christie’s International Real Estate May 12, 2016 This may come as little surprise, but London has retained its title as the world's most luxurious property market for the fourth year in a row, according to Christie's International Real Estate. The capital topped the list of 100 cities surveyed, beating Hong Kong, New York, Los Angeles and Singapore to the real estate top [...]