Property of the Week: We may have found the only bungalow in central London tucked inside a courtyard in Marylebone June 2, 2016 If you’re torn between living centrally in squished conditions or braving a suburban commute for a quainter way of life, then The Bailey in Marylebone may be the solution. Its sales agent Kay & Co claims it’s the only bungalow in central London. Bungalows – self-contained, single level houses – became popular in the inter-war [...]
Focus On Southfields: This south west London suburb is bucking the London property trend ahead of Wimbledon June 2, 2016 If you went down to Southfields today, you’d be in for a big surprise. Buying London property is hardly a teddy bear’s picnic at the best of times, but as buyers rush to the leafier outskirts in search of more affordable property, outer boroughs that were once overlooked are finding they’re in high demand. London [...]
Holiday Homes: Sussing out the property market in Barcelona, the Spanish city proving popular with cash-strapped millennials June 2, 2016 Barcelona is the millennials’ Paris. There are scores of city-wide events aimed at a younger demographic, the art galleries are overwhelmingly modern, and a cursory glance through social media will net you far more pictures of young couples standing atop one of Barcelona’s several hills than the Eiffel Tower. The city’s growing popularity means property [...]
Forget the dinner party chatter – Brexit won’t make much difference to the London property market June 2, 2016 Every week, City A.M. invites an industry professional to write about an emerging trend in the property market. While the Chancellor’s taxes have affected the number of property transactions in Prime Central London, this is not the chief spanner in the works being cited by prospective purchasers. That would be a fear of Brexit, which [...]
Homemover loan applications had the highest success rate for mortgage approvals in the first quarter June 2, 2016 Homemover loan applications registered the highest success rate for converting mortgage applications into completed deals in the first quarter, according to the Intermediary Mortgage Lenders Association (IMLA). The IMLA data shows that 80 per cent of homemover applications resulted in an offer and the same percentage of offers led to a deal. Read more: Nearly two out [...]
Could new City skyscraper 1 Undershaft host London’s highest museum? June 2, 2016 The City's next tallest skyscraper could become home to the capital's highest museum, after the Museum of London unveiled plans to create public viewing galleries on the 71st and 72nd storeys of 1 Undershaft. Property Week reported this morning the museum has been in talks with the tower's developer, Aroland Holdings, about managing the building's free public viewing [...]
This is why we’re struggling to build on brownfield sites June 2, 2016 The soil in Britain is so contaminated that it is damaging construction efforts across the country, according to a report from the Environmental Audit Committee (EAC) out today. Around 300,000 hectares of UK soil are thought to be contaminated with toxic elements as a result of the country's industrial history, and London is one of the worst affected areas. The [...]
UK mortgage lending dropped to its lowest level since the height of the eurozone crisis in April June 1, 2016 Mortgage approvals have hit their lowest level since the height of the Eurozone crisis, according to the Bank of England. Mortgage loans totaled just £281m in April, their lowest level since August 2012, after the hike in stamp duty came into effect at the beginning of the month and buy to let landlords fled the [...]
Brexit bluster: Telford Homes boss is so chill about housing he says he’d buy a plot on the day before the EU referendum June 1, 2016 The chief executive of a top London property developer is so confident about the resilience of the housing market that he'd buy a plot the day before the EU referendum. Speaking to City A.M. on a day of strong results for the company, Jon Di-Stefano, chief executive of Telford Homes, said: "Even if we vote out people aren't going to disappear [...]
Telford Homes announces strong results as it sets its sights on the private rented sector June 1, 2016 London residential property developer Telford Homes announced strong revenue growth in its final results for the year ending March 2016, and pre-tax profits at the company exceeded original market expectations. The firm's revenue was up by 42 per cent year-on-year, jumping from £173.5m in 2015 to £245.6m this year. Pre-tax profits were up by 28 per cent, to [...]