First-time buyers still have to save for over a decade to get a home in London September 26, 2016 First-time buyers may have hoped the EU referendum would reverse house price growth in the UK, but a Brexit housing crash has not materialised, and saving for a deposit has not become any easier. Would-be homeowners have to save for just over 10 years to get a deposit, according to research by Hamptons International, a figure [...]
Fixing the sink estate we’re in: Institutional cash is already building homes in London January 10, 2016 Despite London’s status as a safe haven for investors, for many living on crumbling housing estates it’s anything but. For decades politicians have ignored the link between poor housing are various social ills. While Tony Blair did much to help cities, he did little for housing. Today’s plans to redevelop sink estates by harvesting institutional capital should therefore be [...]
Shaftesbury continues to be buoyed by London’s West End property market November 24, 2015 London's residential property market might be cooling, but the commercial sector is showing no signs of slowing down with landlord Shaftesbury reporting strong growth for the full year. The figures Shaftesbury's net asset value per share rose 21.9 per cent to £8.69 in the year to September 30, up from £7.13 a year earlier. Earnings at the [...]
Developer’s share price falls after it downgrades value of Nine Elms site due to falling house prices in central London July 5, 2016 A property company involved in London's Nine Elms development project has downgraded the value of its portion of the site. St Modwen cut £21m off the value of the site due to house prices in the central London area falling by 3.75 per cent. Nine Elms is one of the biggest residential building projects in the UK [...]
Buy to let tax changes knock London luxury rent prices July 8, 2016 London's luxury property market is suffering from oversupply this year after the government's stamp duty changes came into effect at the beginning of April. The capital's rental prices on luxury properties have fallen by one per cent year-on-year in the first quarter, according to research from Knight Frank. Read more: Rents edged down in May as [...]
New homes on sale in London, from an old Tudor Palace to Chiswick townhouses October 21, 2016 Brandon House, Borough From £735,000 Live on the site of an old Tudor Palace right next to London Bridge. This week, 77 new homes went on sale at Brandon House on Borough High Street, named after the Duke of Suffolk, Charles Brandon, who lived in a mansion there in 1518. It comprises one to three [...]
A sign of things to come? Countrywide shares leap despite pre-Brexit housing market slowdown July 28, 2016 The UK's largest estate agent said it had been hit by a slowdown in housing transactions in the run-up to the EU referendum. Is this a sign of things to come? The figures Countrywide said adjusted pre-tax profits fell 25 per cent to £21.8m in the six months to the end of June, although total income rose nine per cent to [...]
London’s poshest properties may be past their peak due to UK’s referendum vote July 1, 2016 Prime property in London has been losing some of its shine this year. The political and economic uncertainty in the UK has been weighing on London's high-end homes, as research shows prices fell in the second quarter of 2016. The average value of a prime property in central London fell 1.4 per cent in the quarter, [...]
What George Osborne’s Budget means for you: Five case studies including an entrepreneur, an apprentice and a chief exec March 16, 2016 Accountants from BDO ran the numbers for City A.M. to see the effect George Osborne's 2016 Budget will have on people with a variety of different incomes, living situations and responsibilities. THE BUSINESS WOMAN Catherine Gannon, chief executive at Gannons Commercial Law Gannons Commercial Law continues to perform well as profits and earnings increase on last year. [...]
UK property: Britain’s struggling pub trade is yielding opportunities for supermarkets and residential developers August 25, 2015 The Grotto Inn on the top of Monument Hill in Weybridge was a thriving pub before falling on hard times three years ago. It was forced to call last orders after succumbing to competition from nearby bars and pubs and has lain empty since – its windows boarded up and beer taps gathering dust. [...]