Global travel and weak pound fuels London prime property recovery amid fears of Labour stamp duty plans May 30, 2023 The return to global travel and the weak pound helped the fuel recovery of London’s prime property market in the first third of 2023. Data by estate agents Knight Frank, shows that sales on luxury pads above the five million pound price point are up 40 per cent compared to the same period last year [...]
London rents see biggest jump on record amid landlord exodus November 15, 2023 Private rental prices in London saw their biggest jump since 2006 in October, rising 6.8 per cent year-on-year up from 6.2 per cent the prior month, according to the latest reading from the ONS. The figure is significantly less than the amount forked out by tenants across the rest of the UK. Rents across the [...]
Gove clamp down on short term lets like Airbnb could lead to ‘two-tier system’ February 19, 2024 Under the reform, property owners who let out their homes to visitors will be asked to seek planning permission, alongside placing their name on a mandatory national register for short-term lets.
London sees 24 per cent drop in first-time buyers as high mortgage rates bite September 27, 2023 London experienced a 24 per cent decline in the number of first-time buyers entering the market in the last year as high mortgage rates crush home-ownership dreams.
‘A better outcome’: Ground rents investor expresses relief at decision not to cap charges June 2, 2024 Ground Rents Income Fund has said changes to the law are not as bad as epxected.
House prices to face pressure well into 2024 despite positive updates November 14, 2023 Recent data on the UK's housing market has pointed in contradictory directions, but analysts remain confident that house prices will remain subdued well into 2024.
Government to ‘announce plans to phase out leasehold’ in King’s Speech October 29, 2023 All new houses across England and Wales will have to be sold as freeholds, as part of a Leasehold Bill led by Michael Gove, and expected to be announced in the King's Speech, according to the Sunday Times.
Buy-to-let repossessions jump 56 per cent as higher interest rates bite April 3, 2024 The buy-to-let market has been hammered by higher interest rates with lending plummeting and arrears rising, according to new data released by UK Finance.
Hopes of lower interest rates fuel construction sector optimism amid housebuilding resurgence March 6, 2024 The overall construction PMI rose to 49.7, up from 48.8 in January, its highest level since August 2023 and only marginally below the neutral 50-mark.
Iconic Millbank Tower evicts tenants ahead of conversion into flats July 31, 2024 The landlord of the iconic Millbank Tower, where the Labour Party hatched its landslide 1997 election campaign and Leave.EU cooked up its winning plans for Brexit, has begun evicting tenants ahead of a long-planned revamp into luxury flats, City A.M. has learned.