Letting agents are facing an epidemic of their own making April 25, 2018 If you’ve ever had to deal with a letting agent, you may be so traumatised from the experience that you’ve resolved never to move house ever again. You tiptoe around the property, praying that the ceiling doesn’t cave in – just so you won’t have to dial that dreaded number. If you’re under 40, you’ll [...]
UK housing market continues to slump as number of homes sold in March drops April 24, 2018 The number of residential property transactions in the UK has dropped 7.2 per cent between February and March, according to the latest figures from HM Revenue and Customs (HMRC). The HMRC UK Property Transaction Statistics report showed that this month’s seasonally adjusted figures were 11.8 per cent lower compared with the same month last year. [...]
Fashion retailer East to cease trading in May with loss of nearly 300 jobs April 23, 2018 High Street retailer East is due to cease trading next week after administrators failed to find a buyer, City A.M. can reveal. Almost 300 employees will be made redundant when the chain stops trading on 4 May. This follows the redundancies of 27 staff after the company fell into administration in January. Administrators at FRP [...]
Pay at Persimmon could cause shareholder revolt as investors baulk at boss’s £100m bonus April 22, 2018 Housebuilder Persimmon could take a battering at its annual general meeting (AGM) on Wednesday, as disgruntled investors prepare to turn down a pay report which handed its chief executive a £100m bonus. Though Jeff Fairburn will only receive £75m of the reward, having pledged in February to give up £25m to a charitable trust, several [...]
UK house prices: London property market continues to cool as national average asking price reaches a record high April 16, 2018 The average price of property coming to the London market fell this month as the UK average price reached a record high, according to Rightmove’s house price index. The capital is just one of two regions to see a drop nationally, with prices decreasing by 0.6 per cent this month. The national average asking price [...]
Good fortune and Godspeed: Sir Martin Sorrell steps down from WPP ahead of misconduct investigation findings April 16, 2018 Global marketing giant WPP could be broken up following the departure of its renowned chief executive Sir Martin Sorrell, with City analysts divided over prospects for the firm. Sorrell’s three-decade tenure at the top of the advertising industry ended dramatically over the weekend as he stepped down from WPP following an investigation into alleged misconduct. [...]
What housing policies are the UK government likely to announce soon? April 13, 2018 It is clear that the Government intends to intervene more and more in the housing market. This attitude stems partly from the Housing White Paper, issued in February last year, but also a reorganised Home England, with Nick Walkley, a self-described ‘disruptor’ at the helm, restructuring the former Homes and Communities Agency to be more [...]
New builds on sale in London this weekend April 13, 2018 New developments on the market this week Filmworks, Ealing From £524,950 Film fans may be interested in these homes going on sale tomorrow next to the UK’s oldest purpose-built film studio. Oscar contenders The Imitation Game and The Theory of Everything were both shot at Ealing Studios, and now 209 studio to three bedroom apartments [...]
London’s housing demand has fallen for eleven straight month in March, per RICS survey April 12, 2018 London’s housing woes continue as buyer demand has fallen for the eleventh straight month, according to a new UK residential survey by RICS. The research shows that interest from London buyers waned once again in March, with 25 per cent of respondents seeing demand fall away. The survey also indicated that sales in the capital [...]
Amid world house price slump, Berlin tops global city growth ahead of London, Hong Kong and New York April 10, 2018 London is not alone in its recent housing price slump – according to new research, the phenomenon is global. The analysis, published today by property consulting group Knight Frank, shows that average global property prices increased by 4.5 per cent in 2017, down from seven per cent the year before. There is one city that [...]