UK mortgage approvals fall as Brexit uncertainty bites March 26, 2019 Mortgage approvals in the UK have fallen year-on-year as homebuyers put off their decisions amid political uncertainty, new data has revealed. The number of mortgages approved by the main high street banks in February was 2.2 per cent lower than the same month in 2018, the finance and business services body UK Finance said today. [...]
Abolishing residential leasehold could create more problems than it will solve March 26, 2019 If you own a flat, the chances are you are a residential leaseholder. Until recently, the leasehold structure was the only form of ownership for flats and other properties benefiting from common areas and shared services. But recent cases of misconduct in the residential leasehold sector have captured the public imagination, leading to intense government [...]
Housing demand slumps to near six-year low as first-time buyers pounce on ‘cautious market’ March 25, 2019 Demand for housing has slumped to its lowest level in almost six years, according to new figures that underline fears of waning activity across parts of Britain’s housing market. The number of house hunters registered per estate agent branch slumped by 15 per cent to 252 in February, marking the lowest since since July 2013. [...]
Non-EU investment in London commercial property rose 75 per cent in 2018 March 25, 2019 Purchases of London commercial property by non-EU investors soared last year, rising 75 per cent on 2017. But investment from within the EU dropped sharply, according to figures from real estate research company Datscha. Read more: Retail property value set to plunge as online shopping rises Non-EU investors racked up £8bn in purchases in 2018. That [...]
Rogue landlords must stop exploiting students, says universities minister March 25, 2019 Rogue landlords who provide poor living conditions to students will be censured by the universities minister today as part of a crackdown on ‘squalid’ student housing. Chris Skidmore will slam private landlords who do not fulfil their responsibilities to tenants amid growing reports of student housing lacking basic amenities such as heating or hot water. [...]
Battersea power station home buyers to claim refunds due to long delays March 23, 2019 People that purchased flats in the redevelopment of London’s Battersea Power Station will soon be eligible to claim a full refund with works running so far behind schedule. The scheme has been plagued with difficulties and the majority of the 255 apartments listed along the River Thames will not be ready before their “long-stop dates” [...]
Why properties with less than 80 years left on the lease are suddenly popular with Brexit buyers March 22, 2019 In previous times, the demand for residential property with 80 years or less remaining on the leasehold was generally low. However, current market conditions favour a new breed of savvy buyers, seeking alternate methods of approaching the market who wish to benefit from continued Brexit-related uncertainty. Leasehold property is a depreciating asset, so the less [...]
Focus On Bow: Young professionals are changing the landscape of Bow, but upsizing proves costly March 22, 2019 Few areas in London have seen demographic change like east London, but even within the East End, Bow has changed a lot in recent years. “There is a definite shift taking place, highlighted by the arrival of a number of independent coffee shops, wine bars and restaurants over the past 18 months or so,” said [...]
Interiors: We delve into the world of knitted furniture, a crafty homeware solution with women at its core March 22, 2019 If you know your Mayfair art galleries, then Hauser & Wirth and Messum’s will be familiar territory. In the past few years both have established art centres in the English countryside – Hauser & Wirth in Somerset and Messums in Wiltshire – destination idylls to tempt us city folk into bucolic bliss. An exhibition on [...]
Property of the Week: This Shoreditch penthouse has south-facing City views and is next door to some serious barbecue March 22, 2019 Canada isn’t known for being a residential hotspot, so you’re most likely to find the penthouse of your dreams on the fringes. Avant-Garde Tower, Shoreditch, £2.4m This three bedroom apartment, however, is so close to the Square Mile – yet with a cooler-than-thou E1 postcode – that you can walk to Liverpool [...]