Is 2024 time to buy as house prices stabilise? The latest data says… maybe December 8, 2023 House prices are expected to fall by two per cent next year, according to the latest reading from Zoopla, as the hangover from high mortgages appears to be dragging into next year. While slipping house prices can often be an indicator of poor economic health, house prices still remain around £40k above pre-pandemic levels. The [...]
Average two-year mortgage rate drops below six per cent in sign pain for borrowers is easing December 8, 2023 The average interest rate for a fixed two-year mortgage has fallen below six per cent for the first time since June. Moneyfacts has reported the average two-year fixed rate is now 5.99 per cent, down from the peak of 6.86 reached in July. Competition among lenders is driving rates lower, noted partner at Knight Frank [...]
Gove’s plans to cap ground rents could cost taxpayers £31bn, RFA warn December 7, 2023 Micheal Gove’s plans to cap ground rents in England and Wales could cost the taxpayer over £31bn, a trade body has warned.
House prices rise again – but London properties still down on last year December 7, 2023 House prices rose by 0.5 per cent in November, following a rise of 1.2 per cent the prior month, according to Halifax.
London’s priciest mansions struggle to sell as luxury property market faces change December 7, 2023 Economic headwinds are taking a toll on the two priciest mansions in London, reports suggest, as the luxury property market continues to adapt. The two properties – Rutland Gate and The Holme – are on the market with a combined listing of £475m. A person familiar with the matter told Bloomberg that founder of real [...]
Community protest postpones Shepherd’s Bush Market redevelopment plans December 6, 2023 Protests forced a Hammersmith and Fulham Council meeting to be cancelled, where plans to redevelop Shepherd’s Bush Market were set to be approved. Some 20 protesters from a local community group, Protect Shepherd’s Bush Market, gathered together in opposition to the plans “after 18 months of raising concerns.” The community group stated as part of [...]
Lack of buyers for No 1 Poultry loan in worrying sign for City’s property market December 6, 2023 Bank of Ireland is trying to dodge a loss on a loan secured against No 1 Poultry, a worrying sign for London's commercial property market.
‘Mr West-End’ takes over Haymarket House in £400m hotel plot December 4, 2023 A property tycoon nicknamed ‘Mr West-End’ has bought Haymarket House in Soho, with plans to convert the upper floors into a £400m hotel. Billionaire entrepreneur Asif Aziz, has paid around £135m through his investment business Criterion Capital for the popular Piccadilly Circus building. The landmark ‘Happy’ restaurant and comedy club which occupy the ground floor [...]
Cash-rich Ukrainians and Chinese swap Mayfair for St Johns Wood – as wealthy crave more space December 4, 2023 Rich tenants are ditching their traditional stomping grounds of Belgravia and heading to the leafier surroundings of St Johns Wood.
House prices to fall further next year as sellers drop prices says Rightmove December 4, 2023 House prices will fall one per cent next year as competition heats up amongst sellers, according to property portal Rightmove.