Leasing activity in London office market heats up to 17-year high June 29, 2015 LEASING activity in the London office market hit 6.3m square feet in the first half of 2015 – the highest level in 17 years – fuelled by pent up demand on the back of the General Election and firms moving east. Property advisory firm Cushman & Wakefield said lettings in the second quarter reached 3.3m [...]
City Moves for 30 June 2015 | Who’s switching jobs June 29, 2015 Baker & McKenzie The law firm has appointed Kate Alexander as principal tax adviser in its London tax practice. She joins from EY, where she has been a partner and head of markets for its international tax services group. Alexander has also worked as head of UK patent box at EY. Savills Investment Management Peter [...]
Stamp duty replaces mansion tax as Central London house buyers’ worst fear as sales of homes worth £1.1m plus fall June 29, 2015 Mansion tax is so pre-election, darling – these days, the UK's high earners are worrying about one thing: stamp duty. That's according to a new report by upmarket estate agent Knight Frank, which has found the new tax has dented sales of homes worth £1.1m plus. Read more: The average brick in Kensington and Chelsea [...]
First-time buyers suffer from cuts to higher loan-to-value lending June 28, 2015 THE HIGH loan-to-value (LTV) end of the mortgage market is in decline, according to figures published today by insurance firm Genworth and comparison site Moneyfacts.co.uk. The value of loans with a 95 per cent LTV ratio, where 95 per cent of the value of a property is borrowed, dropped by £147m year-on-year during the first [...]
London house prices: Demand plummets for the capital’s luxury apartments June 26, 2015 Could the bottom be about to fall out of London's luxury property market? New research has suggested demand in the capital's most exclusive areas is falling: in fact, over the past month, it's fallen by three per cent. The findings, by online estate agent Emoov, suggest that despite the Mansion Tax no longer being a [...]
Prime Minister David Cameron is “delighted” with the way EU renegotiations are going so far June 26, 2015 Prime Minister David Cameron is said to be “delighted” with the way EU renegotiation talks are going, following a two-day summit for all member states in Brussels. Read more: EU referendum greater risk to London's property market than General Election Having made a 10-minute pitch to fellow EU leaders, he said the process of [...]
Post-recession peak for home buyer deposits June 25, 2015 PROSPECTIVE homebuyers face having to pay the highest level of deposit since 2009. The average deposit reached £72,302 last month, according to figures released today by the Mortgage Advice Bureau (MAB). It marks the highest deposit since the MAB first started publishing the data six years ago. The size of the average loan also ticked [...]
City Moves for 26 June 2015 | Who’s switching jobs June 25, 2015 Baker Tilly The professional services firm has appointed Kenny McLean as a director in its consulting practice. He joins from Certeco, where he was a director overseeing client change programmes. McLean has also held roles at KPMG, IBM, SAP and EDS. CBRE The commercial real estate services and investment firm has announced two appointments to [...]
Britain’s ageing population could boost economic growth – if we adapt June 25, 2015 The UK and other western economies face the prospect of an ageing population. As the post-war baby boomers grow older, and people live longer, the number of over-65s in the UK is expected to nearly double by 2050. This is often seen as a problem for society, leading to higher health care and social costs, [...]
Return of London’s mansions: The former homes of aristocrats are being converted June 25, 2015 It isn’t often that a prestigious street in London falls out of favour. You won’t see a regeneration of Eaton Square or the King’s Road any time soon. But Connaught Place, a handsome street lined with Georgian mansion blocks overlooking Hyde Park, was the Belgravia of pre-war London and it’s experiencing a resurgence in popularity. [...]