Mortgage applications soar after coronavirus lockdown lifted October 14, 2020 Mortgage applications soared after lockdown was lifted this summer, reaching an estimated value of £216bn, however the closure of the housing market means lending is expected to be down compared to last year. Pent-up demand and government incentives helped to jolt the UK property market back to life after restrictions were eased following the UK [...]
Property platform Onthemarket hails surge in potential buyers after lockdown October 13, 2020 Property platform Onthemarket toasted a surge in potential buyers following the lifting of lockdown restrictions earlier this year. Onthemarket said consumer engagement has been very strong after the government eased restrictions on the UK housing market in May, and it had delivered record leads to advertisers. The company said its “new and exclusive” property listings [...]
Q&A: The demographic challenge facing European cities October 13, 2020 | City Talk Covid-19 and the subsequent lockdowns around the world have had a devastating effect on global economic growth. However, according to a recent study the most significant challenges facing cities in Europe were present before the pandemic, in the form of long term demographic trends. With birth rates declining in many countries and political resistance to [...]
UK house prices stage rapid recovery in third quarter October 12, 2020 House prices enjoyed their strongest quarterly increase since before the financial crisis in the third quarter as lockdown restrictions eased. Prices rebounded quickly in the third quarter after the broadbased closure of the market during the previous quarter. Prices rose 3.3 per cent in the three months to September, according to the Halifax Property Index, [...]
London retail landlords struggle to collect rent from tenants October 12, 2020 London commercial property landlords are struggling to collect rent from beleaguered retail tenants amid a slump in footfall during the coronavirus pandemic. Great Portland Estates announced this morning that it collected just 21 per cent of the retail, hospitality and leisure rent it was owed in the quarter ended 30 September. However total rent paid [...]
British Land shares rise as it restarts dividend payments October 9, 2020 Shares in property development company British Land climbed 3.9 per cent after it announced it would resume paying its dividend, saying footfall at its retail parks was ahead of the wider market. The shopping centre and office-owner intends to pay dividends twice a year, in February and August. It previously paid them quarterly but suspended [...]
Netflix to triple London office space as it cashes in on British success stories October 9, 2020 Netflix is set to massively expand its London office space as the US streaming giant doubles down on its commitment to the UK. The streamer will triple its footprint to 100,000 square feet when it moves into the Copyright Building in the West End. Netflix is taking over the lease from outsourcing giant Capita, which [...]
UK house prices to rise 20 per cent by 2024 October 8, 2020 UK house prices are expected to soar more than 20 per cent by 2024, according to the latest research. Analysis by estate agent Savills found that UK property prices will jump 20.4 per cent in the five years to 2024 Average house prices are expected to increase four per cent this year before stagnating in [...]
Landlord New River converts retail property into residential amid high street turmoil October 8, 2020 Landlord New River REIT is pushing ahead with its plans to convert some of its retail and pub destinations into housing, it announced today, amid a challenging period for the sector. The real estate investment trust announced today that it has progressed its residential conversion opportunities during the coronavirus pandemic. In a trading update this [...]
Real estate investment trust Home REIT raises £240m through IPO to fund accommodation for homeless October 8, 2020 Home Real Estate Investment Trust (REIT), which is planning to fund accommodation for homeless people across the UK, has raised £240.6m through a stock market listing. Home REIT announced the result of its initial public offering this morning, and will begin trading on the London Stock Exchange on Monday. The investment trust is seeking to [...]