Wealthy foreign investors push pedal on UK property purchases November 12, 2021 Foreign ownership of homes in England and Wales has reportedly nearly tripled over the past decade, as wealthy investors eye the UK’s coveted property portfolio. Nearly 250,000 homes in England and Wales have been registered with overseas-based buyers, a figure which has swelled from fewer than 88,000 homes in 2010, according to the Consumer Financial [...]
‘Middle-class stampede’ for equity release as wealthy homeowners flock to lifetime mortgages November 12, 2021 The average property value of a lifetime mortgage customer has passed the half a million pound mark for the first time as the industry continues to make waves with financial advisers and wealthier customers, according to new data shared with Morning Wire today. The steep rise in property prices over the past year cannot entirely [...]
Only 37 properties on estate agents books: Lack of homes is pushing up house prices November 11, 2021 Despite an overall net balance of 10 per cent of property professionals reporting an increase in new buyer inquiries, estate agents only have 37 properties on their books on average, down from around 42 in March, the Royal Institution of Chartered Surveyors warned this morning. A growth in inquiries from house-hunters in October is yet [...]
Poor housing costs NHS £1.4bn a year November 11, 2021 Hazards caused by poor quality homes in England are costing the NHS £1.4bn a year. The Building Research Establishment (BRE) found that 2.6m homes, making up 11 per cent of the country’s housing stock, are deemed ‘poor quality’ and endangering residents. The study looked at the 2018 English Housing Survey (EHS) on health and safety [...]
£21.4m mega-penthouse: Asian billionaire buys Oxford Street’s most expensive home November 10, 2021 An Asian billionaire has purchased the most expensive home sold on London’s Oxford Street, buying a mega-penthouse for £21.4m in the TCRW SOHO apartment building. The deal is the biggest single residential property sale by value to be done on London’s Oxford Street during 2021. It is also one of the largest residential sales to [...]
Breaking £370k mark: Average UK house price expected to jump by £40k within the next five years November 10, 2021 The average house price across Britain is expected to break through the £370,000 mark within the next five years, as property prices may rise by more than £40,000. Giving its predictions up to 2026, Savills predicts that the typical property value will increase from £327,838 in 2021 to reach £370,785. The property group expects the [...]
Chelsea top buyer market amid stock lows November 10, 2021 Chelsea is the top buyer market at the moment as the country continues to experience a historic low of property stock. Around just one in every ten Chelsea properties for sale are marked as sold subject to contract, according to Rightmove. Seven out of the top ten buyer markets are all in London, while the [...]
Prime central London growth forecast to outperform other areas November 9, 2021 Property group Savills has forecast Prime central London to grow eight per cent in 2022 as wealthy international buyers flock back. The market is anticipated to grow 23.9 per cent over the next five years while prime outer London will see a hike of 13.7 per cent. Growth in the market has been subdued because [...]
Lansdowne House is an £8m Holland Park gem November 8, 2021 Fifteen million doesn’t go far in parts of Kensington, where average house prices on Britain’s most expensive street hit £30m. But you only need to head slightly west to Holland Park to get more for your millions. Lansdowne House is a vast, light-filled four-bedroom apartment is over the ground and lower ground floors but has [...]
Why prime property buyers need an agent November 8, 2021 A search for a prime property can involve speaking to 20 or 30 different selling agents. The market is being disrupted all the time, with new agents and brokers splintering off from other firms and setting up on their own. Brokerage numbers are increasing all the time and it is harder than ever to stay [...]