Average London rents jumped last month November 14, 2019 The average rent in London rose to £1,665 last month, according to a report released today. The average rent in the UK grew 2.7 per cent to £953 on the same time last year. Average rents in London grew 2.8 per cent to £1,665, according to the report from tenant referencing firm Homelet. Read more: [...]
New build homes drive UK housing supply increase November 14, 2019 UK housing supply soared in the year to the end of March driven by an increase in the number of new homes being built. There were 241,130 net additional dwellings, up nine per cent on the previous period, with new build homes accounting for 213,660. Read more: UK house prices enjoy sharp annual growth Change [...]
Wework losses ballooned to $1.3bn in quarter before failed float November 13, 2019 Wework losses reportedly more than doubled to $1.3bn (£1bn) in the third quarter ahead of its expected initial public offering (IPO). The figures contained in a presentation for Wework creditors today showed why the company was thrown into crisis when its expected $9bn IPO and connected debt financing deal collapsed in September. The debacle led [...]
London house prices suffer UK’s biggest September drop November 13, 2019 House prices in London suffered the biggest September drop in the UK, according to the latest data. Homes in the capital fell 0.4 per cent year on year that month, compared to house prices’ average increase of one per cent in England. That left London house prices with an average value of £474,601. UK house [...]
Taylor Wimpey reports strong demand for homes in second half November 13, 2019 House building giant Taylor Wimpey reported strong demand for new homes in the second half of the year despite uncertainties related to Brexit. The company said the UK housing market remained resilient in the second half, but said customer caution increased in the higher-priced markets of London and the South East. Read more: Taylor Wimpey profits [...]
Galliard Homes to develop £140m luxury flat complex above Crossrail station November 12, 2019 Galliard Homes will develop a £140m luxury residential and retail development above Tottenham Court Road’s Crossrail station. The property investor has exchanged contracts with Transport for London for £43m, it announced today. Read more: Crossrail will not open until 2021, bosses admit Tottenham Court Road West (TCRW) will include 92 flats – with prices for [...]
Student property developer Crosslane targets London co-living market November 12, 2019 Student property provider Crosslane has moved into the co-living market with a £355m pipeline as it eyes three new developments in London. Crosslane Co-Living has secured sites in Walthamstow, east London and Manchester’s Deansgate to build 366 new rooms over the next two years. The rental model, which is aimed at millennials, sees tenants rent [...]
Landsec swings to first-half loss after retail property values plunge November 12, 2019 Landsec swung to a pre-tax loss in the first half of the year after the value of its retail and leisure assets suffered in an increasingly challenging market for tenants. The figures The company reported a pre-tax loss of £147m, compared to a profit of £42m the previous year, resulting in a loss per share [...]
Wework in talks with T-Mobile boss over chief executive role November 11, 2019 Wework has started a search for a new chief executive following the departure of co-founder Adam Neumann, people familiar with the matter said on Monday, as the US office-sharing start-up seeks to reverse its widening losses. Wework’s current co-chief executives, Artie Minson and Sebastian Gunningham, have only been in place since September, but talks indicated [...]
DEBATE: Are there any benefits to the rise of renting? November 11, 2019 Are there any benefits to the rise of renting? Anne-Marie Brown, founder and chief executive of Love to Rent, says YES. While the UK has traditionally been a nation of homeownership, more people are choosing to rent, and the profile of renters is changing too, with more families and retirees looking for a stress-free alternative. [...]