Purplebricks bidder Lecram pulls out, claiming finances ‘worse than expected’ May 31, 2023 An 11th-hour rival bidder for Purplebricks has withdrawn its takeover approach, claiming the troubled estate agency’s financial condition is “significantly worse than expected”. It emerged last Friday that investor Lecram – the vehicle of property investor Adam Smith and a major shareholder in Purplebricks – was looking to muscle in with a proposal valuing the [...]
House sales drop by almost a third as market braces for slowdown in mortgage approvals May 31, 2023 The number of houses sold in the UK has fallen by almost a third as the market struggles to upkeep the momentum from a surge in sales at the start of spring. UK residential transactions fell 32 per cent in April with 67,220 homes sold, figures from HMRC show, 32 per cent lower than April [...]
Are you asking the right questions about your building’s energy usage? May 31, 2023 | Sponsored Businesses are finally asking the question – ‘how much energy are we using, and how can it be reduced?’. It seems the energy crisis, however you view it, did have one upside. I say ‘finally’ because I’ve been waiting a long time for this. Having spent 30 years in building services, selling energy saving control [...]
Home REIT shareholders aren’t holding their breath for more answers May 31, 2023 Many of Home REIT’s shareholders, tenants and adversaries hoped the appointment of a new investment adviser last week would signal an end to the obfuscation of the past seven months. AEW, a recognisable and seemingly safe pair of hands, gave some reasonable hope it would be straight talking from then on. No such luck. Yesterday’s [...]
Global travel and weak pound fuels London prime property recovery amid fears of Labour stamp duty plans May 30, 2023 The return to global travel and the weak pound helped the fuel recovery of London’s prime property market in the first third of 2023. Data by estate agents Knight Frank, shows that sales on luxury pads above the five million pound price point are up 40 per cent compared to the same period last year [...]
Home REIT investigation: investment manager passed over ‘innacurate’ ESG info and had ‘undisclosed’ conflicts of interest May 30, 2023 The former investment manager of scandal-hit property firm Home REIT passed over “inaccurate” information to an ESG inspector and certain top figures had “undisclosed potential business interests” with third parties, a damning internal report has revealed today.
House prices continue to fall as buy-to-let landlords sell up May 30, 2023 House prices are continuing to fall, according to a closely watched index, but transactions are ahead of the long-term average due to landlords selling up. According to estate agent Zoopla, landlord properties accounted for 11 per cent of sales in the last month, as high mortgage rates and energy bills forced many property owners to [...]
Brits just want some space: Detached property sales outpace other housing May 27, 2023 Detached houses were the most popular type of property among existing homeowners moving home with a mortgage in the year to March, according to analysis of a lending giant’s data. Halifax said detached homes accounted for nearly a third (32%) of such sales, rising from a quarter (25%) a decade ago. While detached homes were [...]
Ealing and Woolwich among Elizabeth line winners as house prices surge May 26, 2023 Boroughs located along the Elizabeth Line have seen a surge in house prices as the new line cuts City commuter times from areas like Ealing and Woolwich. As London battles a lack of supply, the quick transport links introduced by Crossrail have seen the price of homes in Ealing Broadway rise nine per cent in [...]
Nationwide to up mortgage rates as analysts predict further hikes May 26, 2023 Britain’s biggest building society is increasing some of its mortgage rates for new borrowing from Friday, saying this will ensure its rates “remain sustainable” in the current economic environment. The rate increases, of up to 0.45 percentage points, only affect customers taking out a new mortgage deal. For first-time buyers and those looking to move [...]
