Canada approves major new skyscraper January 31, 2025 The City Corporation has approved a 54-storey skyscraper on the doorstep of UK’s busiest station as demand for office space continues to grow in the capital. The site at 99 Bishopsgate, which will become one of the tallest towers in the Square Mile, is set to provide a minimum of 1.2m sq metres of office [...]
House price growth slows despite ‘busier January than normal’ January 31, 2025 House price growth slowed slightly in January, but year-on-year growth remained robust despite higher interest rates. The annual rate of house price growth slowed to 4.1 per cent in January, compared with 4.7 per cent in December, according to the Nationwide House Price Index. House prices increased by 0.1 per cent month on month, after [...]
House prices ‘gathering steam’ before stamp duty changes January 30, 2025 The UK’s housing market got off to its strongest start in three years in 2025 as both demand and supply increased, according to new data. Buyer demand was up 13 per cent and 10 per cent more homes were on sale, with rising sales supporting UK house price inflation of two per cent year on [...]
London’s top spot for super-prime property crowned January 29, 2025 Belgravia has taken the crown as London’s most-sought-after super prime neighbourhood, home to more than a tenth of sales in the capital last year and overtaking Chelsea for the first time since 2020. The area was even home to London’s first super prime deal of 2025, a £38m mansion on Wilton Crescent. “Belgravia has benefited from [...]
Foxtons: Share price soars after London estate agent outperforms market January 28, 2025 London estate agents Foxtons has reported double digit growth driven by market share gains in both sales and lettings. Revenue in the year ended December 2024 grew 11 per cent to £163m, from £147.1m in 2023, while adjusted operating profit grew 33 per cent to £19m, from £14.3m in 2023. Its share price rose nearly [...]
Lloyds Banking Group unveils £200m plan for head office January 27, 2025 Lloyds Banking Group has unveiled £200m plans to transform the headquarters of Scottish Widows to become the giant’s main base in Scotland. The Port Hamilton building on Morrison Street, Edinburgh, is to be designed in partnership with Drum Property Group. Lloyds Banking Group employs around 10,000 people in the Scottish capital. Located in the city’s [...]
The UK’s housing crisis is creating a generation of broke retirees January 24, 2025 The affordability crisis in the UK housing market is creating a generation who will still face monthly mortgage or rent payments well into retirement, according to a new study. With deposits increasingly hard to save up for and mortgages increasingly burdensome, few people will be free of housing costs by 2050, unless something changes. A [...]
Major lifeline for Wembley Park developer after huge losses January 23, 2025 The developer behind London’s Wembley Park transformation has secured a huge funding boost just months after losses of more than £700m were revealed. Quintain has completed the refinancing of London Designer Outlet and build-to-rent development Ferrum at the site with a £233.6m loan from Bank of America. The deal comes after Morning Wire reported in [...]
Back to the office helps Canada’s tallest tower to full capacity January 20, 2025 The City’s tallest tower, 22 Bishopsgate, has been fully let after four years as the financial district continues to prove its ability to command premiums for best-in-class sustainable spaces. There’s little sign of the gloom pervading other areas of the commercial office sector in the City, with rents at 22 Bishopsgate the highest ever achieved [...]
Savills: End of work from home drives recovery in office property market January 16, 2025 International property services company Savills has predicted a strong commercial property market this year driven by cheaper financing, the sustainability agenda and workers’ return to the office. The FTSE 250-listed firm told the market this morning that while it expected challenging conditions to continue, “most markets are in recovery”. However, the firm added that geopolitical uncertainty, [...]