Philip Hammond unveils £5bn housebuilding stimulus package October 3, 2016 Chancellor Philip Hammond has announced a £5bn stimulus package for housebuilders, including a £3bn fund to help build 25,000 homes during this parliament. The fund will give loans to small and medium sized housebuilders and those using innovative building methods such as offsite construction. It will also provide funding for infrastructure. Read more: London has fallen out [...]
Battersea developer says project provides huge boost to the British economy October 2, 2016 The developer behind the regeneration of Battersea Power Station has claimed that the project will provide a £20bn boost to the British economy. An economic impact assessment by the Battersea Power Station Development Company (BPSDC) quantified the economic injection of the transformation and added that the project will have created over 20,000 jobs, according to reports in the Sunday Telegraph. [...]
Landlords threaten to hike rents after tax changes kick in October 1, 2016 Landlords have claimed they will be forced to raise rents as a result of the government's string of tax changes and crackdowns on the buy to let sector. A new survey also revealed private sector landlords will not be able to invest as much in improving their properties as a result of the extra charges [...]
New homes on sale this weekend at one of the tallest residential towers in Europe and a historic mansion in Hampstead September 30, 2016 South Quay Plaza, Canary Wharf From £695,000 The arrival of Crossrail trains at the latticed Foster + Partner-designed train station in Canary Wharf will be a “gamechanger” for the area, according to Berkeley Homes. That’s why the developer has chosen the business hub– and the station’s Sterling Prize winning architects – to create its tallest [...]
London swells the taxman’s coffers by paying almost half the country’s levy on home purchases September 30, 2016 The government collected £3.4bn of stamp duty from the London's homebuyers according to statistics released today. The number represented 46 per cent of the total amount of stamp duty paid in the UK over the last year. And together with the rest of the south-east, together the two areas accounted for more than two-thirds of the [...]
Britain’s most expensive streets revealed: Zoopla unveils rich list of top 10 priciest neighbourhoods in London September 30, 2016 The UK's top 10 most expensive neighbourhoods are all still in London and they're all still eye-poppingly pricey – but they are getting cheaper. Well, some of them. Top of Zoopla's property rich list is Kensington Palace Gardens, W8, where the average property will set you back £38.3m, followed by The Boltons in SW10, where a [...]
Nationwide house price index: House prices grew 0.3 per cent in September but growth slowed on an annual basis September 30, 2016 House prices increased by 0.3 per cent in September, according to the Nationwide house price index. Data for the month revealed that annual house price growth slowed to 5.3 per cent, down from 5.6 per cent in August. The rate of price growth in London slowed to 7.1 per cent in the three months to [...]
Post-Brexit demand for residential property is good news for developers and investors September 30, 2016 | City Talk An attractive capital, offering high value jobs, an educated workforce, stunning architecture, centuries of history, a peerless reputation for arts and culture and some of the best schools in Scotland, Edinburgh remains a highly sought after property market. With demand sky high, across both the owner-occupier and private rented (PRS) sectors, prices and rental yields [...]
Property of the Week: Nine Hillgate Street in Notting Hill is an experimental former art gallery on the market for £6.75m September 29, 2016 Nine Hillgate Street looks like a traditional terraced house in Notting Hill, but inside, it looks more like an art gallery. And that’s because it was, at one point, a gallery. Seth Stein Architects created this house as an experiment in design and have been using it to show-off art for the past year. “It [...]
Massive business rate hikes will be a disaster for growth and investment in London September 29, 2016 Hundreds of thousands of companies across the UK are nervously awaiting today’s release of new property valuation data that will determine how much they will have to pay in business rates. As if the prospect of having their rateable values reassessed after a seven-year gap wasn’t scary enough, government announcements this week create a toxic [...]