House prices continue to fall as buy-to-let landlords sell up May 30, 2023 House prices are continuing to fall, according to a closely watched index, but transactions are ahead of the long-term average due to landlords selling up. According to estate agent Zoopla, landlord properties accounted for 11 per cent of sales in the last month, as high mortgage rates and energy bills forced many property owners to [...]
Brits just want some space: Detached property sales outpace other housing May 27, 2023 Detached houses were the most popular type of property among existing homeowners moving home with a mortgage in the year to March, according to analysis of a lending giant’s data. Halifax said detached homes accounted for nearly a third (32%) of such sales, rising from a quarter (25%) a decade ago. While detached homes were [...]
Ealing and Woolwich among Elizabeth line winners as house prices surge May 26, 2023 Boroughs located along the Elizabeth Line have seen a surge in house prices as the new line cuts City commuter times from areas like Ealing and Woolwich. As London battles a lack of supply, the quick transport links introduced by Crossrail have seen the price of homes in Ealing Broadway rise nine per cent in [...]
Nationwide to up mortgage rates as analysts predict further hikes May 26, 2023 Britain’s biggest building society is increasing some of its mortgage rates for new borrowing from Friday, saying this will ensure its rates “remain sustainable” in the current economic environment. The rate increases, of up to 0.45 percentage points, only affect customers taking out a new mortgage deal. For first-time buyers and those looking to move [...]
Make your own Chelsea Flower Show winner on a London balcony May 25, 2023 The arrival of the Chelsea Flower Show has coincided with the first sustained spell of nice weather in a hitherto miserable 2023. Now Londoners can finally open their garden sheds and channel their inner Alan Titchmarsh, attempting to turn their outdoor spaces into something bright and spectacular. The Chelsea Flower Show this year is themed [...]
House prices slow as market braces for a solid but ‘not spectacular’ year May 24, 2023 House prices in the UK rose 4.1 per cent in the 12 months to March, adding £11,000 to the average value of a property. However, the figures are down from February’s 5.8 per cent hike and £8,000 below the recent housing peak in November 2022, data from the Office for National Statistics (ONS) reports. Across [...]
Londonmetric swoops on smaller rival in £200m takeover May 24, 2023 Shares in listed property vehicle CT Property Trust have rocketed today after the firm announced it had struck a £200m deal to sell itself to bigger rival Londonmetric.
London ‘busier and busier’ as return to office gathers pace – but demand for flexible working remains May 24, 2023 Great Portland Estates, a leading landlord in office space said London has got “busier and busier,” but noted that it does not expect the the recovery of offices in the capital to be “uniform” as a demand for flexible working and best space remains. Throughout the year, the property firm recorded £55.5m of leasing, as [...]
Sadiq Khan: London councils need more power to take back empty properties May 23, 2023 The Mayor of London has today called on the government to devolve powers to local councils so they can set higher rates of council tax on vacant properties. It comes as part of a bid to bring back empty flats and houses to the struggling London market. “It’s a scandal that so many much-needed homes [...]
Confirmed: Scandal-hit Home REIT calls in AEW and announces plans to offload properties May 23, 2023 Scandal-hit housing investor Home REIT has confirmed the appointment of property giant AEW as its new fund manager today and said it will now sell-off a slew of properties as it scrambles to stabilise its sprawling portfolio.