City Moves for 16 October 2015 | Who’s switching jobs October 15, 2015 PEMBERTON The asset manager has appointed Corinna Mitchell as general counsel. She has over 20 years’ experience as a banking and finance lawyer, and was a partner in the London office of Dechert for the past seven years. Mitchell has also worked as a partner at Baker & McKenzie in London, and as a solicitor [...]
UK house prices: The reverse ripple effect on prime London property October 15, 2015 A new expression has entered the property lexicon; the reverse ripple effect. Since the financial crash in 2008, we’re all used to price rises rippling out from the centre of London. The place to watch now is the area around it, known as Emerging Prime. You might assume that a reverse ripple simply means where [...]
Singaporean wealth fund GIC backs property revival in UK regions October 15, 2015 Singaporean sovereign wealth fund GIC has thrown its weight behind a private equity firm that invests in the UK’s regional property market. Maya Capital said it has secured a £90m loan from GIC to help fund acquisitions in areas outside London and the M25 that have enjoyed a resurgence in activity thanks to the improvement economy [...]
Night Tube series: Top seven places to buy a house in London along the Victoria Line October 15, 2015 If there’s one thing that unites the areas that appear along the Victoria Line, it’s rejuvenation. So here are the top seven places to invest in along the blue line, according to Paul Williams, head of Savills Islington, based on average sales price data within 500m of underground stations in the 12 months leading up [...]
London house prices: The property rental market is being haunted by ghost-listings October 15, 2015 The crazy London property market has created another spectre that will leave renters with a chill down their spine. The letting market is being haunted by ghost-listings – ads for properties to rent that don't really exist. Eerily reminiscent of ghost gazumping which plagued house buyers last year, some estate agents (as if they weren't despised enough) are listing details of properties they've nicked [...]
London house prices might be mind-boggling for renters and young buyers, but it’s forcing creative solutions to the problem like never before October 15, 2015 This month, Daniel Radcliffe reportedly put his New York apartment up for rent at an eye-watering price of $19,000 (£12,500) per month. But now you can live the real “Harry Potter” lifestyle for a snip of the cost after an eager London renter in search of a new home tweeted a ‘room’ that was available to rent [...]
Now Mercedes-Benz has launched its own London luxury apartments October 15, 2015 Now you can experience the feeling of being in the driving seat of a Mercedes-Benz without even stepping foot outside a front door. The carmaker is manoeuvring an unusual left-field turn into the luxury property business with a new concept of Mercedes designed serviced apartments in London. In a collaboration with Singaporean luxury serviced apartments firm Frasers Hospitality, six apartments measuring between 50 [...]
China’s economic slowdown will hit London’s property market hard October 15, 2015 Despite the Chinese government’s market engineering over the last few months, there have been further signs that the Chinese economy is undergoing a significant cooling. As Chinese inflation and purchasing power continue to drag, analysts now worry that the rate of growth is far below the government’s prediction, in the range of 5.5 to six [...]
London house prices: Prime central property prices will drop this year, but the cool-down won’t last long, says Savills October 15, 2015 The price of London’s prime property will decline in price this year on the back of last 2015's stamp duty reforms, but they will climb by a whopping 21.5 per cent over the next five years, an estate agent has predicted. Prime central London property prices, which average at around £5m, will drop two per cent this [...]
UK property market: Why Victorian housing associations are just as relevant today October 15, 2015 The problem for many housing associations with this week's Housing Bill is that a focus on extending home ownership or even on supply alone serves only to deal with some of the problems facing those on low incomes. For those now too old for a full mortgage, constrained by the limits of zero hours contracts [...]