Stamp duty cuts and a planning overhaul: Estate agents tell us their housing policy wish list September 14, 2022 With Simon Clarke announced as the new housing minister, we asked top estate agents for their housing policy wish lists Simon Tollit, Partner, Tedworth Property Operating in the luxury residential sector of Prime Central London, the last two years have seen a strong domestic market and more recently London has welcomed back international investors. However, [...]
Property giant warns about growing fears of rapid slowdown in ‘a market teetering on the brink’ September 7, 2022 One of the UK’s biggest property groups has urged the new Prime Minister to address Britain’s housing crisis calling for “radical change”. The National Association of Property Buyers (NAPB) told City A.M. there is now growing fears of a rapid slowdown in a market which is “teetering on the brink”. And the NAPB added that [...]
London house prices hit record £554,718 after highest annual growth in six years September 7, 2022 The average cost of a home in London has hit a record £554,718, after reporting the highest annual house price inflation in six years, according to the country’s longest running index. While house price growth in the capital has continued to lag behind other parts of the UK, the rate of annual growth now stands [...]
This week: Housebuilding space to come under spotlight with key players revealing results September 5, 2022 Investors will get a good idea of how the housing market is faring with a trio of leading housebuilders unveiling financial results this week. Barratt Developments, Berkeley Group and Vistry are all set to update shareholders on their performance amid reports the housing sector is losing steam. London-listed housebuilding giants Barratt, Berkeley, Persimmon and Taylor [...]
Property franchise the Belvoir group has uptick in revenue built on lettings September 5, 2022 Property franchise the Belvoir group’s revenue was up 12 per cent in the first half of the year driven by the continued high demand for lettings. The firm, which also runs financial services, made £15.4m up until June, up from £13.8m in the same period last year. Its gross profits was dominated by 60 per [...]
Saturday Read: Cash-strapped home owners turn their properties into personal cash machine September 3, 2022 The amount of wealth being released through equity release could pass £6.5bn by 2025 after more than a decade of increasing popularity and growth. Overall, in the ten years following 2011, the amount of property wealth being freed up through equity release increased by 508 per cent, reaching the 2021 total of £4.8bn. Back in [...]
US buyers of central London property snag ‘discount’ with favourable exchange rates August 23, 2022 US buyers of central London property are snagging an “effect ‘second’ discount” of around 12 per cent thanks to recent exchange rates, according to real estate investment advisory London Central Portfolio. The pound was at its lowest against the dollar since March 2020 this morning. Flats and houses in Mayfair and Marylebone are said to [...]
House prices continue to climb in nightmare scenario for first-time buyers even though buyer interest is slowing August 15, 2022 House prices continue to move firmly upwards and are still expected to be higher in a year’s time, according to the Royal Institution of Chartered Surveyors (RICS) this afternoon. The numbers are somewhat surprising given that surveyors have seen the longest stretch of shrinking buyer demand in the housing market since the early stages of [...]
Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]
Nervous homeowners on edge as mortgage rates hit highest level since 2016 with market fading fast August 2, 2022 The latest Bank of England data found last week that net borrowing of mortgage debt by individuals decreased to £5.3bn in June, from £8bn in May. Approvals for house purchases, an indicator of future borrowing, decreased to 63,700 in June, from 65,700 in May, which is below the 12-month pre-pandemic average up to February 2020 [...]