Housing market confidence cools in November November 30, 2020 Confidence in the UK housing market cooled in November, with fewer people thinking that their property increased in value compared to last month. Bankers Halifax said that just 14 per cent of people surveyed said that they believed their home had become more valuable this month, compared with 17 per cent in September and October. [...]
Evergrande Property ‘prices at lower end’ in $1.8bn Hong Kong IPO November 26, 2020 Evergrande Property Services Group – part of China’s second-biggest property developer – reportedly achieved the lower end of expectations to raise $1.8bn in its major Hong Kong IPO. The public offering priced at HK$8.80 (85p) per share, according to sources who spoke to Reuters. The marketed range was HK$8.50 to HK$9.75. It comes with Evergrande [...]
OBR forecasts house prices to fall next year as furlough and stamp duty holiday end November 25, 2020 House prices are expected to fall next year due to the end of the stamp duty holiday and a hit to household incomes when the furlough scheme draws to a close.
Tories call for Sadiq Khan to scrap rent control push after policy ‘failed’ in Berlin November 25, 2020 City Hall’s Conservatives are calling for Sadiq Khan to drop his rent control policy, after new analysis this week showed similar measures depleted Berlin’s supply of new flats. The new study showed the supply of rental apartments fell by 41 per cent while demand soared by 172 per cent within a year of Berlin’s rent [...]
Exclusive: Cautious investors reluctant to launch funds in polarised market, says Savills CEO November 25, 2020 Institutional investors are increasingly reluctant to pour capital into property funds, as the pandemic has turned the sector’s investment cycle upside down, according to Savills group CEO Mark Ridley. Speaking exclusively to Morning Wire, Ridley said during a wide-ranging interview that October alone saw the third highest level of monthly redemptions ever experienced by open-ended UK real [...]
London to buck UK trend with uptick in 2020 housing sales completions November 25, 2020 London is expected to buck the national trend to record an uptick in housing sales completions this year, according to the latest research. Completed sales across the UK are expected to fall six per cent compared to last year, an improvement on the original forecast of a 15 per cent drop, as the housing market [...]
Leadenhall Market tenants offered turnover-based rents to see them through Covid-19 November 24, 2020 Canada Corporation has offered Leadenhall Market tenants the option to switch to turnover-based rents amid a surge of closures in the UK retail and hospitality sectors.
UK housing transactions surge in October due to stamp duty holiday November 24, 2020 UK housing transactions surged in October as the stamp duty holiday reignited the property market following the first coronavirus lockdown. Residential transactions jumped 8.1 per cent to 105,630 last month, compared to October 2019. Activity was 9.8 per cent higher than September, according to the latest statistics from HM Revenue and Customs (HMRC). Non-residential transactions [...]
Countrywide executive chairman quits as shareholders reject £90m private equity investment November 24, 2020 The executive chairman of estate agent chain Countrywide has stepped down after shareholders rejected a £90m cash injection from private equity firm Alchemy. Countrywide announced this morning that Peter Long has left the company with immediate effect, with former William Hill boss Philip Bowdock stepping in as interim chief executive. The London-listed firm said discussions [...]
Estate agent chain Connells confirms £82m Countrywide takeover bid November 23, 2020 Estate agent chain Connells has confirmed an £82m takeover bid for competitor Countrywide, saying a cash injection by private equity rival Alchemy Group would not go far enough to rescue the embattled firm. Connells said this morning that it has completed its due diligence work on Countrywide and reconfirmed its offer price of 250p per [...]