A new app lets you invest in property from your phone October 8, 2021 We have become used to doing our banking and investing from our phones, so now a new financial-meets-lifestyle app is launching specifically for investment in the UK residential property sector. If you’ve had your eye on the buy-to-let market, but haven’t jumped, from next month you can build a property portfolio with a few clicks. [...]
1 Lombard Street and Coq d’Argent turn 25: How two restaurants changed the City September 13, 2023 A quarter of a century ago, the City was a very different place. Back then men in suits – and they were still mostly men – would commute in early, spend a few hours at their desk before taking a long, usually boozy lunch. After work, they would either decant to the West End or [...]
Capital gains tax receipts increase £5bn in two years: Is its future aligned with income tax? May 15, 2022 The amount of Capital Gains Tax collected by the government has shot up by more than £5bn in the past two years, according to official figures from HMRC. Rising from £9.8bn in 2019/20 to £14.9bn in 2021/22, the huge increase comes after changes to the tax and rising house prices. The increase in Capital Gains [...]
As house prices hit another all-time high, we need to cut bureaucracy burdening sales April 26, 2022 Yesterday, average house prices in England hit a record high for the third consecutive month, according to RightMove. They reached an average of £360,100. High buyer demand and a limited number of homes available are likely to send prices even higher. Against this backdrop, it’s about time we reconsider the way we buy and sell [...]
Sunak deaf to industry calls to overhaul business rates October 14, 2021 Chancellor Rishi Sunak has ignored calls from industry chiefs to shake up the business rate regime at the next budget. According to The Telegraph, government plans to overhaul the business rate system have been “thrown into the long grass”. The Chancellor has not had enough time to consider the effects of wholesale changes to the [...]
OnTheMarket lifts profit expectations on the back of strong interim results October 12, 2021 The company behind property search website OnTheMarket.com saw profits soar in the first half of FY21 amid strong interest. The company saw revenues climb to £14.9m in the first half of the year, an increase of 46 per cent compared to the same period in 2020, while adjusted operating profit soared by 163 per cent [...]
London’s One Palace Green mansion to be turned into luxury flats worth £100m August 2, 2021 London and Monaco residential property company REDD has bought One Palace Green on Kensington Palace Gardens, which it plans to turn into into a luxury residential scheme. Once complete, the Grade II listed mansion originally the London residence of the Howard family of Castle Howard fame, is expected to be worth more than £100 million. The property company [...]
Landlords still losing rental income from pandemic August 26, 2021 One in five landlords are planning to sell property because of the pandemic’s financial impact, according to a survey. More than half (51 per cent) of landlords are still losing rental income as a result of the pandemic, research from landlord insurance provider Simply Business has shown. Some 47 per cent of landlords said they [...]
Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]
Value of Westminster and Chelsea homes equals value of Welsh homes October 14, 2021 The value of UK property has hit £9.2tn, four times the country’s GDP. This sum – which is more than four times the value of all companies listed in the FTSE 100 – has risen £1.6tn over the past five years. More than a third of that growth has been in the past year alone, [...]