Here are the best London commuter towns – with house prices you can actually afford March 10, 2017 London life is not for everyone; it's noisy, the houses are too expensive and the pints aren't cheap either. So if you're looking to get away from it all, but you don't want to give up your City job, where is the ideal place to settle down? Read more: This is what the Budget had [...]
With RICS finding the housing market subdued, should we brace for falling house prices? March 10, 2017 Kay Neufeld, an economist at the Centre for Economic and Business Research (CEBR), says Yes. With infallible regularity, every year a number of property market analysts predict that “this year prices surely must fall”. Most of the time, they are wrong. Looking at market fundamentals, not much has changed in 2017. The demand for housing [...]
Government hands over £2.5bn to businesses in quiet U-turn over business rates March 10, 2017 The government has performed a screeching U-turn over new reforms to the business rates system by dropping unpopular proposals for the rates appeals’ process. The proposed appeals regulations would have denied businesses £2.5bn worth of rebates over the next five years, according to estimates by ratings specialists CVS. On Wednesday, communities secretary Sajid Javid quietly met with ratings [...]
Estate agent Countrywide’s share price tumbles as profits fall by more than half March 9, 2017 Shares in the UK's largest estate agent have tumbled after it admitted pre-tax profit plummeted by close to 60 per cent last year. Read more: Estate agents Savills warns current UK house price growth is unsustainable The figures Countrywide, the company behind high street estate agency brands including Bairstow Eves and Hamptons International, said today its [...]
Rents could rise 20 per cent in the next five years – as UK house prices rise 18 per cent March 9, 2017 Rents in the UK could rise by a fifth in the next five years as housing costs rise for the UK's lowest earners, one of the UK's most well-respected housing bodies has said. Research by the Royal Institution of Chartered Surveyors (RICS) showed rents for those on lower incomes could rise more than 20 per [...]
Budget 2017: Here’s how the Budget will affect landlords and the buy-to-let sector March 8, 2017 With the housing crisis in full throes, the last few years have been difficult ones to be a landlord – indeed, many have felt punished by measures such as an end to mortgage tax relief and higher stamp duty on buy-to-let homes. The good news for landlords was that today's Budget didn't include any further [...]
Budget 2017: Business reacts to government’s relief measures for business rates March 8, 2017 Today, chancellor Philip Hammond announced a handful of measures intended to cushion the blow of business rate rises this year, including a £300m relief fund that will be distributed to local authorities. In addition, Hammond said small pubs will get a £1,000 reduction on their business rates bill this year, a handout that will help [...]
Budget 2017: This is what the Budget had to say about UK house prices March 8, 2017 UK house price growth will be cut by almost half by 2018, according to predictions from the Office for Budgetary Responsibility (OBR). The OBR has released its predictions for house price growth along with chancellor Philip Hammond's first (and last) Budget today, and it seems house price rises will be tempered over the next five [...]
Budget 2017: New £300m fund for business rates relief March 8, 2017 The government has promised to help cushion the blow of business rates with a £300m relief fund for local authorities. Chancellor Philip Hammond has also committed to "smoother and more frequent" business rates revaluations. In addition, small pubs will be getting a £1,000 business rate discount this year – a tax cut that will help 90 per [...]
Foxtons results: Another dive in profits thanks to London house prices March 8, 2017 Shares in struggling London estate agent Foxtons took a dive today after it admitted London's cooling market pushed down profits last year. The figures Revenues fell 11 per cent to £132.7m in the year to the end of December, Foxtons said today – while pre-tax profits fell more than half, from £41m in 2015 to £18.8m in 2016. Lettings revenue fell one per [...]