House buying falls ‘dramatically’ as market feels absence of stamp duty holiday May 24, 2022 UK property transactions are “dramatically lower” than a year ago, as the market feels the absence of the pandemic-era stamp duty holiday. Residential deals in April plunged nearly 14 per cent in comparison with 12-months ago, and are 10.5 per cent lower than in March, according to the government’s latest data. Meanwhile, non-residential transactions, which [...]
London is back on the global property radar as foreign home buyers shrug off Brexit and stamp duty changes May 24, 2022 International buyers are returning to the London property market after three consecutive years of declining market activity, brought about by Brexit, changes to stamp duty and, of course, the pandemic. Since last year, international interest has started to return to the capital, with transactions climbing by 0.6 per cent. At the same time, the market [...]
Logistics boom: Warehouse investment trust launches on London’s main market May 24, 2022 Warehouse Real Estate Investment Trust (REIT) is launching onto London’s main market, it announced today, after five years on the junior market. The logistics real estate heavyweight is expected to have access to a larger pool of capital and investors as a result, which it hopes will boost its liquidity and recognition. Warehouse REIT, which [...]
West End landlord Shaftesbury reaps rewards of London’s exploding rents May 24, 2022 West End landlord Shaftesbury has reaped the rewards of exploding rental growth in London, as its portfolio valuation swells as the new Elizabeth line is unveiled. The real estate investment trust raked in nearly £19m in rent in the six months to 31 March, as its offices, hospitality and leisure, retail and residential portfolio increases [...]
Grosvenor: Central London valuations ‘subdued’ amid Covid side effects May 23, 2022 Property investment firm Grosvenor is back in the black after better fortunes for its 300-acre estate in Mayfair and Belgravia. Owned by the Duke of Westminster, the multibillion-pound portfolio swung back into profit with a pre-tax profit of £327.5m, after posting a £322.8m loss in 2020. The Liverpool ONE shopping centre owner swung back into [...]
Property Special: Will the Bojo mortgage fill the Help to Buy hole? May 23, 2022 The so-called Mortgage Guarantee Scheme (MGS), commonly known as the Bojo Mortgage, is a more market encompassing version of the Help to Buy scheme, allowing lenders the option to purchase a guarantee on mortgage loans for those with less than a 10 per cent deposit. Launched in April of last year, it can be utilised [...]
Landlords being pushed to innovate by ‘Instagrammable’ build-to-rent schemes with furnishing and socialising space May 23, 2022 Landlords are being pushed in to more innovation and providing better furnished homes because of modern renters. Younger people are looking for professionally managed properties to live in, as part of a build-to-rent (BTR) schemes, which are created specifically for the purpose of renting. The majority of people renting are still doing so through landlords [...]
Pets and lets: Know your rights when renting with Fido May 23, 2022 Working from home and the quest for outside space have both been widely reported since the start of the pandemic but it is perhaps the increase in pet ownership that has had the most impact on the rental market. Renting with a pet often gets a bad press but with accountability and care from both [...]
Average house price surpasses £367k as first time buyers face increasingly difficult landscape May 23, 2022 It is now no longer significantly cheaper to rent than buy, in terms of monthly outgoings, new analysis by RightMove has shown. While average monthly mortgage payments (£901) outpace average monthly rental payments (£887), the gap in payments has slimmed over the past decade. The property platform’s new analysis tracking first-time buyer affordability is based [...]
London office completions lag due to site delays as demand for projects surges May 23, 2022 Supply chain disruption and worker shortages mean the completion of office construction projects in London has lagged. New start activity dropped by a third to 2.3m sq ft over the six months to March. Completed construction also plunged by half to 1.7m sq ft, well below a long-term average of 2.5m sq ft, as projects [...]