Budget 2021: Levy for property developers to fund removal of unsafe cladding October 27, 2021 Chancellor Rishi Sunak has reiterated plans for a levy for property developers to help create a fund to remove unsafe cladding. Speaking at the Budget, Sunak said property developers with profits over £25m will face a levy at a rate of 4 per cent. This will be used to help create a £5bn fund to [...]
Millions of homeowners will see mortgage rate rises as ‘softer’ house price growth forecast December 16, 2021 Major banks have hiked mortgage interest rates in response to the Bank of England hiking rates 0.15 percentage points to 0.25 per cent. Banks raised rates following the decision on Thursday, meaning millions of households will pay heftier monthly mortgage repayments. Barclays, Halifax, Lloyds Bank, NatWest, Nationwide and Santander will pass on the increase to [...]
John Lewis to build 10,000 rental homes July 5, 2021 Retailer John Lewis will build 10,000 rental homes over the next few years, in a move into the residential property market. Tenants will have a choice of renting fully furnished with John Lewis products or using their own, according to reports. The move will give the business a long-term, stable income, and provide new job [...]
Barratt remains on track with steady customer reservations October 13, 2021 UK residential property developer Barratt Developments is on track to deliver its targets for the medium term as well as for FY2022, after registering a steady customer demand between 1 July and 10 October. “The positive start to the new financial year has continued in recent weeks with private reservations remaining strong,” said Barratt’s chief [...]
House prices: Value of homes in Kensington and Chelsea alone same as whole of Wales October 14, 2021 Homes across Britain have added £49,257 to their value over the past five years on average, according to a property website. The total value of homes has risen by 20 per cent – or £1.6 trillion – in the past five years, Zoopla said. More than a third (£550bn) of the £1.6 trillion increase has [...]
How technology is transforming and unlocking real-estate asset classes April 27, 2022 The line between technology and real estate is blurring, bringing new opportunities and asset classes, particularly in residential, office and biotech, says Samantha Kempe, co-founder and chief investment officer of IMMO Capital. The sheer size of the real estate sector – the global figure reached a record $326.5 trillion (about £251.1 trillion) in 2021, according [...]
Everyone hates inheritance tax. But what are the best arguments against it? November 21, 2023 Nothing boils the blood of Britons like inheritance tax, often dubbed the “most hated tax”. The paradox is that only four per cent of deceased people are actually affected ( more will be impacted by the death of someone).
Daily Mail publisher reports revenue drop with job cuts looming November 18, 2021 Daily Mail and General Trust (DMGT), owners of Metro and MailOnline, announced revenue was down one percent to £1.1bn this morning as it continues to feel the impact of the pandemic on events.
Top industry brass press Sunak on business rates overhaul October 14, 2021 The UK’s top business groups who represent over 9m workers are pressing Chancellor Rishi Sunak to overhaul the business rates regime. The Confederation of British Industry (CBI), alongside 41 trade associations acting on behalf of 261,000 businesses, have called on Sunak to reduce the burden of business rates on firms at this month’s budget to [...]
Temptation Isle: Is London City Island the hottest property ticket in town this year? May 25, 2021 Arising in East London are over 1,700 new flats and townhouses – on an island within the capital. London City Island is a new neighbourhood development inspired by the architecture of Tokyo and Chicago, according to its developers. The Island, created by EcoWorld Ballymore, has been referred to as a “Mini Manhattan”, according to estate [...]