Record number of homes selling for the asking price or above June 25, 2021 A record number of homes that completed in January 2021 sold for their asking price or above, and those that didn’t missed the mark by only a small amount. More than a third (37%) of homes in England and Wales achieved their asking price or more in January 2021, while those that didn’t achieved on [...]
Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]
Twerk from home: OnlyFans helps users onto the housing ladder June 24, 2021 Forget the bank of mum and dad, OnlyFans, a social media site popular with sex workers, has helped thousands onto the housing ladder this year. The team at Online Mortgage Advisor has received just over 1,500 enquiries in the past 12 months where one or more parties per enquiry declare themselves as self-employed, citing OnlyFans [...]
Her Majesty’s pleasure: Wind farm windfall sends Crown Estate value soaring June 24, 2021 A raft of new wind farms has sent the value of the Queen’s property holdings up 7.5 per cent over the last year, the Crown Estate announced today. The portfolio, which comprises London’s Regent Street, the seabed and half of the foreshore around England and Wales, is now worth £14.4bn. The marine division saw its [...]
Blackstone sweetens buyout offer for property developer St Modwen by £50m June 24, 2021 Private equity firm Blackstone has offered to pay £50m more for property developer St Modwen, bringing its total takeover offer to £1.25bn. The 560 pence per share cash offer for St Modwen is the final offer, the companies said today, adding that Blackstone could make another proposal if another suitor for St Modwen emerged. Last [...]
Booming property market helps housebuilder Crest Nicholson swing to profit June 24, 2021 Soaring house prices and a flurry of activity in the market helped Crest Nicholson move from a loss to a profit in the six months to 30 April. Profit before tax at the housebuilder for the first half of 2021 stood at £36.3m, up from a loss of £51.2m a year earlier. Revenue in the [...]
London property: Hong Kong buyers flood Canary Wharf, Kensington and Mayfair June 23, 2021 London’s property market is seeing an increasing number of Hong Kong residents looking to buy or rent a home in the capital, with Canary Wharf, Kensington, Covent Garden and Mayfair being particularly popular. Sales enquiries from Hong Kong buyers have risen by 20 per cent over the past 18 months whilst demand for rental properties [...]
‘London will flourish again’ says Berkeley Group as it lands £500m profit June 23, 2021 London received a vote of confidence from Berkeley Group this morning as the housebuilder’s boss said he believed the capital is set for a post-pandemic boom. The Group made a profit before tax of more than half a billion pounds in its last financial year, much of which was driven by the sale of properties [...]
Average rental prices in London climb 68 per cent since financial crash June 22, 2021 Rent prices have climbed across England since the financial crash in 2008, but nowhere more so than in London, where rents are now 68 per cent higher than they were in 2008/09. In the wake of the 2008/09 economic downturn, average rent across the capital stood at £977 per month, according to data from Ascend [...]
Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]