London rents rise again as Savills warns of double-digit UK increase Property Analysts have warned rents are being pushed to unsustainable levels amid another yearly jump and concerns there is no natural plateau in sight. The average UK private rent rose by 8.7 per cent in the year to October, up from 8.4 per cent in the year to September, according to the ONS. The increase was [...]
London house prices gloom revealed but owners set for £84,000 boost Property The average home in Britain will be £84,000 more valuable in five years’ time, according to a new forecast, but London house prices will grow slower than anywhere else in the UK. Real estate giant Savills has said it expects the typical property value to reach £442,000 by the end of the period to 2029, [...]
First-time buyers could see huge tax hit under rumored Budget change Property First-time buyers could see huge tax hit under changes rumored to be included in the Autumn budget. It has been rumoured that Chancellor of the Exchequer Rachel Reeves will rule out any changes to stamp duty land tax in the Budget. Stamp duty land tax currently applies to homes costing over £250,000, but in March [...]
Stamp duty: TSB and Shawbrook join mortgage lender call for reform before Budget October 15, 2024 A group of mortgage lenders and brokers have called on the government to refund stamp duty for homeowners in a bid to accelerate energy efficiency improvements in UK housing and reduce national emissions. TSB, along with Shawbrook, the Mortgage Advice Bureau (MAB) and Leeds Building Society, have called on the government to provide more support [...]
The Notebook: New draft of renters’ rights bill risks inflating prices (even more) October 8, 2024 Two key changes in Labour's bill could impact the rental market
Rightmove warns almost £25bn needed to insulate 2.9m UK homes by 2030 October 4, 2024 There are 2.9 million houses that will require £23.4bn in improvements to meet the government’s energy performance certificate (EPC) standards by 2030, according to Rightmove. New analysis from the property portal found that an average of £8,074 will have to be spent on rental homes to upgrade them to a C rating by EPC standards. [...]
Housing is an opportunity, not a problem September 28, 2024 Operating in a sector so often labelled as ‘in crisis’, it’s easy to forget that housing is a safer investment than many realise, says Chris Benn City grandee Sir Nigel Wilson published a report this month that outlined how Britain will need to invest £1tn over the next decade to realise its growth potential. It’s [...]
Meet the fund managers: Schroder REIT and property investing September 16, 2024 In this weekly series, investment reporter Elliot Gulliver-Needham sits down with a fund manager for a Q&A. This week, we’re hearing from Nick Montgomery, manager of Schroder REIT. How does your fund stand out from others in the same market? Whilst the whole sector has been impacted by the higher rate backdrop, which has weighed [...]
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
BDO signs lease for new West End headquarters July 18, 2024 Professional services firm BDO has signed a lease for its new UK headquarters at The M Building, as the firm opts to stay in the West End