‘Too late for rent caps’: East London rents jump 50 per cent since 2019 August 5, 2024 Rental costs in London have skyrocketed over the past five years, and new data has shown that rental growth in the city’s historically-affordable east has risen the fastest. Prices have risen by around 50 per cent in Shoreditch, Bethnal Green and Haggerston to pass an average of £1,000 per month, according to data from Spareroom. [...]
Crash? What crash? House prices defy gravity though London lags slightly March 20, 2023 House prices continues to defy expectations with a steady recovery this month that has seen the average property coming onto the market increase by £3,000. Asking prices for new sellers do still remain £5,800 below their peak in October 2022. London’s average asking price fell by 0.1 per cent in March, leaving the average price [...]
Housebuilder MJ Gleeson’s take-home swells as UK property prices climb September 15, 2022 Housebuilder MJ Gleeson has had its group profit and revenue grow a third over the past year as the average cost of a home climbs. The London-listed firm raked in £55.5m in pre-tax profit and £373.4m in revenue in the 12-months to 30 June, the company reported this morning. The average selling price grew around [...]
Brits forced to cut £14,000 off house prices to achieve sale, new data reveals February 28, 2023 Brits are being forced to accept an average cut of £14,000 on the price of their homes to achieve a sale, according to new Zoopla HPI figures.
Leeds Building Society sees record number of new members as consumers snap up savings deals February 23, 2024 The building society's total savings balance reached a record of £20.8bn, a 19 per cent jump on its 2022 figure of £17.5 bn.
Homes more affordable but borrowers stretched by rising mortgage costs August 23, 2023 The cost of a typical house is 6.7 times average earnings in Britain despite the recent slowdown in the property market, according to new figures. Mortgage lender Halifax said this is down from a record high of 7.3 times average earnings last summer, when a UK home cost an average £293,586 and the average annual [...]
Loss for talent: What impact does the London housing crisis have on start-ups in the City? July 30, 2024 Britain’s ongoing housing crisis has created a knock-on effect for start-ups, according to new research shared exclusively with City A.M., as small business owners begin to struggle to attract and retain talent. The research, which was conducted by fintech firm iwoca, highlighted that 22 per cent of the 500 small and medium-sized enterprises (SMEs) surveyed [...]
Crash warning: House prices slump in July as market hits 2009 lows August 1, 2023 House prices have slumped by 3.8 per cent year on year, the latest closely watched figures from Nationwide show, as a season of high interest rates and weak consumer confidence continues to batter the market. The figure is the weakest since July 2009, although it is only slightly lower than the -3.5 per cent recorded [...]
Ex-pensions minister: ‘Serious questions’ for lenders as ultra-long mortgages surge May 13, 2024 Young homebuyers are at risk of falling into poverty in older age, a former pensions minister has warned, as fresh data suggests more than one million new mortgages over the last three years were issued with end dates beyond the state pension age.
Exclusive: Labour invites developers to work in ‘lock step’ on house building June 7, 2024 Labour has invited businesses to work in “lock step” with the party to deliver 1.5m new homes over the next five years.