London house prices: Foxtons share price dips as slowing luxury market takes its toll March 11, 2015 The figures Upmarket estate agent Foxtons had a topsy-turvy year in 2014, with the gradual slowing in London house price growth dragging down its share price. Earlier in the year when prices were still rising fast the skies were only blue. Chief executive Nic Budden said it best: last year was a year of "contrasting [...]
Mayfair flat just bigger than a bathroom lets within 40 minutes for £1,560 per month March 9, 2015 London's property market appears as hot as ever, after a flat in luxurious Mayfair only a little bigger than a bathroom took just 40 minutes to let. Boasting just 301 sq ft, the one-bedroom flat in Pollen Street has set a new record for speed in London's notorious rental market. Mayfair agent E J Harris [...]
London is the world’s millionaire playground – but New York is about to knock it off the top spot March 6, 2015 London's about to be usurped by New York as a millionaire's playground, according to a new report by Knight Frank. Ultra-high net worth individuals – those with more than $30m (£20m) in assets – are being enticed to the Big Apple by a more attractive tax regime and a more stable economy. In 10 years' [...]
Basement projects in Kensington, Chelsea, Hammersmith and Fulham to be inspected by Health and Safety Executive after rise in incidents March 3, 2015 Basement projects in “high value London boroughs” are to be inspected by the Health and Safety Executive (HSE) next week amid concerns that there has been a rise in the number of incidents. Construction inspectors will be focusing on properties in Kensington and Chelsea as well as Hammersmith and Fulham throughout the week beginning [...]
Generation Rent: This campaign group wants to convert the Houses of Parliament into flats and move MPs to Hull March 2, 2015 MPs like to go on about the wonders of austerity, but do they really mean it? A campaign group has challenged the nation's lawmakers to put their money where their mouths are – by selling up the Houses of Parliament. According to Generation Rent, which campaigns for better rental homes, the taxpayer would save nearly [...]
Olympic Park development: Balfour Beatty just agreed to build two new neighbourhoods in East London March 2, 2015 Builder Balfour Beatty has signed a deal to construct 1,500 homes at East Wick and Sweetwater, the next two neighbourhoods to come out of the Olympic Village. The project, at Queen Elizabeth Olympic Park, will deliver 450 affordable homes, 530 for private sale and 500 to be rented out under a similar model to the [...]
UK house prices: 20pc discount offered to first-time house buyers in England February 28, 2015 From today, first-time house-buyers under the age of 40 can register for a 20 per cent discount on certain properties in England. The offer is taking place under a new government scheme called “starter homes”, which aims to make more affordable housing for young people on disused brownfield sites. “With average house prices for [...]
UK and London house prices: More proof of a property market slowdown in latest Land Registry figures February 27, 2015 House prices continued to rise at a slower rate than last year – another sign the property market is losing some steam. In January, house prices were up 1.3 per cent on December, however, year-on-year growth of 6.7 per cent for the first month of 2015 signalled a slowdown compared to December when annual growth was [...]
Get rich quick: Why buying a luxury home near Crossrail could earn you lots of money February 26, 2015 No one who commutes into work on the Tube can have failed to have noticed the disruption that the construction of Crossrail is causing. With Tottenham Court Road station closed until December to build its new central London hub, you could be forgiven for thinking “is it all worth it?” Well, if you’ve got one [...]
London Barometer: What’s happening to the capital’s house prices? February 26, 2015 There is clearly now much more activity in emerging prime areas than prime central London, with ongoing political uncertainties and the recent Stamp Duty Land Tax (SDLT) changes alluded to in our last Barometer now having a marked effect. More sellers coming to the market would seem to imply that high SDLT has been a [...]