Checking out: Airbnb shares dive as insiders are allowed to sell following last year’s IPO May 17, 2021 Airbnb shares dropped by almost 6 per cent after insiders became free to sell their shares for the first time since the home rental firm’s IPO in December 2020. Today’s drop comes only days after Airbnb beat Wall Street expectations for first-quarter gross bookings and revenue on May 13, as speedy Covid-19 vaccinations and easing [...]
Average house prices hit new record but London prices stay still May 17, 2021 The recent surge in house prices shows no signs of slowing down, with May seeing a new national record for the price of property coming to market. According to Rightmove’s House Price Index, the cost of the average property rose 1.8 per cent this month, to £333,564. The boom in prices is largely driven areas [...]
End of lockdown and decade-low rents entice Londoners back to the city May 14, 2021 Londoners that left the capital during coronavirus lockdowns are heading back to the capital as the city begins to open up again. Rents in central London locations have declined sharply during the pandemic, as Londoners left the city and lockdown saw fewer people moving to the capital for work. However that trend looks set to [...]
Crest Nicholson sells stake in Surrey film studio for £45m May 14, 2021 UK property developer Crest Nicholson has sold its 50 per cent stake in a film studio joint venture for £45m. Crest Nicholson, which usually focuses on house building, said it has entered into an agreement with JV partner Aviva to sell its share of Longcross Studio in Surrey. The transaction, which is expected to complete [...]
Residential landlord Grainger confident in future of London’s ‘attractive’ rental market May 13, 2021 Residential landlord Grainger said it is confident in London’s ability to bounce back from the coronavirus pandemic, despite slumping rental prices in the capital. The FTSE 250 developer said this morning that its “conviction in London’s rental market remains”. “As a leading city, London will continue to be an attractive location to live in and [...]
UK housebuilder Countryside’s sales soar as property market booms May 13, 2021 UK housebuilder Countryside reported soaring sales and profit in the first half of the year as the housing market boomed following the lifting of Covid restrictions. The property developer said adjusted revenue was up 42 per cent in the six months ended 31 March, reaching £755m compared to £530.9m in the previous year. Adjusted operating [...]
UK house price growth accelerates as supply of new homes coming to market dwindles May 13, 2021 UK house price growth accelerated last month due to a slowdown in the supply of new homes coming to market, according to the latest research. A survey carried out by the Royal Institution of Chartered Surveyors (Rics) showed that 75 per cent of respondents reported an increase in UK house prices. The figure is up [...]
Exclusive: Demand for prime London office space jumps as return to workplace looms May 12, 2021 Businesses are seeking high quality office space as they prepare to bring staff back to the workplace, with prime property deals rocketing over the last six months. While many firms are contemplating a mix of office and home working after the pandemic, the race is on to offer employees top spec work space after Covid [...]
High Court gives Virgin Active CVA green light in further blow for landlords May 12, 2021 Landlords have lost their legal challenge against Virgin Active’s restructuring plan, in the second high profile defeat for commercial property owners this week. Today’s High Court judgement will come as a further blow to landlords hoping to challenge tenants over Company Voluntary Arrangements. It comes after the court gave New Look the green light to [...]
Redrow appoints property veteran as new chairman as ex-CEO steps down after 20 years May 12, 2021 Redrow has appointed property industry veteran Richard Akers as its new chairman as former chief executive John Tutte prepares to step down after 20 years on the housebuilder’s board. Akers, a former director at commercial landlord Landsec, will join Redrow’s board as chair-designate on 1 June before taking on the role permanently from 15 September. [...]