Government urged to pay £5bn of retailers’ rents after lockdown August 10, 2020 Retail, hospitality and leisure firms have urged the government to pay up to £5bn to cover a proportion of rents for struggling businesses to avoid further high street job losses. Trade bodies, including the British Property Federation (BPF), British Retail Consortium (BRC) and UK Hospitality, have called on the government to launch a Property Bounceback [...]
We need a London housing strategy that doesn’t ignore the squeezed middle August 10, 2020 The UK — and London in particular — faces a housing crisis. This is not news, and nor has the need for more affordable housing been ignored by politicians. Last week, the government announced an overhaul of planning rules to make it easier to build, while earlier this month, a House of Commons committee published [...]
Rightmove: Demand surges 50 per cent after housing market reopens August 7, 2020 Property platform Rightmove said demand was up 50 per cent in June and July as potential buyers sought new homes after months spent in lockdown. Rightmove’s share price jumped 8.93 per cent to 629.4p this morning after the company reported a bounce in activity after the housing market reopened. The figures In the six months [...]
UK house prices jump in July in post-lockdown ‘mini-boom’ August 7, 2020 UK house prices jumped in July after coronavirus lockdown restrictions eased and the government announced a stamp duty holiday, sparking a “mini-boom” in the property market. UK house prices in July were 1.6 per cent higher than the previous month. House prices last month were also 3.8 per cent up compared to July 2019, according [...]
DEBATE: Are the new planning reforms what’s needed to help alleviate Britain’s housing crisis? August 7, 2020 Are the new planning reforms what’s needed to help alleviate Britain’s housing crisis? James Heywood, head of welfare and opportunity at the Centre for Policy Studies, says YES. The new planning White Paper is surprisingly radical and, though the devil is in the detail, the reforms it sets out are hugely encouraging. Our current Kafkaesque [...]
Property industry reacts to planning system overhaul August 6, 2020 The government has launched a consultation on England’s planning system, as it seeks to slash red tape for new developments. In the planning White Paper, published this morning, the government said it wanted to cut the number of planning cases that are overturned at appeal by creating a “clearer, rules-based system”. Every area will have [...]
Savills reports sharp drop in profit due to coronavirus crisis August 6, 2020 Estate agent Savills reported a sharp drop in profit in the first half of the year due to the impact of the coronavirus crisis on the UK housing market. The figures In the six months ended 30 June, group revenue fell seven per cent to £791.4m. Underlying group profit before tax plunged 66 per cent [...]
Hammerson to raise £826m amid overhaul of leasing approach August 6, 2020 Retail landlord Hammerson this morning confirmed it is aiming to raise £826m to help it survive the coronavirus crisis, as it announced an overhaul of its leasing model. The shopping centre owner will tap investors for £551.7m through a rights issue, and is planning to sell its 50 per cent stake in Via Outlets for [...]
Home, sweet home: Why it’s time for a national conversation about happier houses August 6, 2020 How have you improved your home during lockdown? And has it truly made you happier? Given that spending on home improvements was one of the first boosts to the economy during spring 2020, with the Office for National Statistics reporting that people in England and Wales spent 147 per cent more time gardening and doing [...]
Estate agent LSL Property Services reports ‘extremely encouraging’ July trading August 5, 2020 Estate agent LSL Property Services, the owner of Your Move and Reeds Rains, reported “extremely encouraging” trading in July after the housing market reopened. The figures In the six months to 30 June, group underlying operating profit was up £300,000 to £12.5m. The figure does not include coronavirus-related costs of £2.8m. It also does not [...]