Property sales down 16 per cent in July as reduced lending rates fails to stop hesitancy August 31, 2023 The number of property sales taking place in July was 16 per cent lower than it was in the same month last year, as reduced lending rates failed to allay prospective buyers' hesitancy.
Mortgage approvals sink in July as market continues to cool on rising rates August 30, 2023 The number of mortgage approvals fell sharply in July as the housing market continues to cool off the back of rising interest rates.
UK housing sales on track to sink to lowest level since 2012 August 30, 2023 The number of housing sales completed over 2023 is on track to sink to its lowest level since 2012, when Britain was still reeling from the financial crash, as higher borrowing costs continue to decimate the market. Sales are also set to be 21 per cent down on last year, according to new data from [...]
China’s Country Garden asks for more time to pay off debts to dodge default August 29, 2023 Chinese property developer Country Garden has asked investors for more time to pay off its debts in a desperate bid to dodge default.
New clinical trial hub to open in Canary Wharf as demand for life sciences space heats up August 29, 2023 Canary Wharf is moving into what its CEO Shobi Khan calls its '3.0 phase' as it targets a growing diversity of uses.
Two thirds of home buyers in London getting help from Bank of Mum and Dad August 28, 2023 Over two-thirds (67 per cent) of all homeowners in London receive parental support to purchase their homes, a report released by Legal and General (L&G) has shown. ‘Bank of Family’ recipients in London received £30,200 on average to support their transaction, only beaten by those in the East of England who received an average of [...]
Will the tail-end of summer mean more pain for the UK housing market? August 26, 2023 August, like much of the summer, has already proved a tricky month for the housing sector. Despite all major central banks slashing their rates in the wake of cooling inflation, buyer confidence still appears to be low. Last week’s Rightmove figures showed that the average price of a home fell by 1.9 per cent in [...]
Competition watchdog probes land banks in housing investigation August 25, 2023 The UK competition watchdog has said it will probe land banking by the country’s biggest housebuilders as it identified a number of concerns regarding the sector. The Competition and Markets Authority (CMA) formally started a probe into the housebuilding sector and the private rental market in February. It said it was looking into the housebuilding [...]
Cluttons swaps West End for Square Mile with new London HQ in Cannon Street August 25, 2023 Property consultancy Cluttons has moved its London office headquarters from the West End to the City. The estate agent has taken a 10-year lease at Yarnwicke on Cannon Street and will occupy 8,551 sq ft of space. It comes as Cluttons said it has experienced a period of “sustained growth” having hired a number of [...]
Lendinvest hit by data breach with customer information exposed August 25, 2023 Lendinvest has said it was hit by a data breach yesterday, with certain customer information made available to outside parties. The London-listed property fintech said an investigation into the incident is ongoing and can not yet confirm the precise number of individuals impacted or how long the information was in the public realm for. It [...]
