Flat owners win Supreme Court privacy case over Tate Modern viewing platform February 1, 2023 The owners of four flats overlooked by the Tate Modern in London have won a Supreme Court privacy bid over the use of the gallery’s viewing platform. Residents of the Neo Bankside development on the capital’s South Bank took legal action against the gallery’s board of trustees in a bid to stop “hundreds of thousands [...]
‘Fizz has left the market’: House prices fell by 0.6 per cent in January as average property value plummets February 1, 2023 The average UK house price fell by 0.6 per cent in January, according to Nationwide Building Society. Annual house price growth slowed to 1.1 per cent , from 2.8 per cent in December, and the typical property value is now 3.2 per cent lower than its August peak, the lender said. The average UK house [...]
A tumble in mortgage approvals could be followed by a fall in house prices, analysts believe January 31, 2023 Mortgage approvals have plummeted to their lowest since the credit crunch after the global financial crisis in 2008, excluding the pandemic when the housing market was shut down, in a sign house prices could fall sharply soon, according to official data. The number of loans to Brits to fund a home purchase dropped more than [...]
Persimmon and Barratt to sign Gove’s cladding contract as others stall for time January 30, 2023 A handful of developers plan to sign the government contract to fix buildings affected by cladding and other fire risks in the coming weeks. Levelling up secretary Michael Gove gave developers a six-week deadline to commit to more than £2bn of repairs to fix the issues in buildings taller than 11 metres. This comes on [...]
Covent Garden owner Capco reports strong rental demand as West End gears up for its £3.5bn merger with Shaftesbury January 30, 2023 Trading conditions across the Covent Garden estate have been positive, in particular a successful Christmas trading period with like-for-like customer sales in aggregate exceeding pre-pandemic levels. Ian Hawksworth, chief executive of Covent Garden estate owner Capco, said: “There is continued momentum at Covent Garden with robust trading conditions, in particular a successful Christmas period,” said [...]
Later life lending: Livemore secures £250m from Citi as it aims to hit £1bn in mortgage lending January 30, 2023 Livemore, a later life mortgage specialist, has secured a credit facility of up to £250m from Wall Street lender Citi as it seeks to hit £1bn in mortgage lending. “We are thrilled to receive this credit facility from Citi, which will support our growth and expanded product offering, so we can continue to serve the [...]
House prices: Zoopla says UK property market is off to ‘slow burn start’ with London flats in most demand January 30, 2023 The housing market in the UK has got off to a slow in 2023 with demand for cheaper, smaller properties on the rise as recession fears continue to wobble the market, according to estate agent Zoopla. Zoopla’s house price index appeared to show that buyers were holding off from entering the market and were biding [...]
London asking rents hit record high with fierce competition set to persist into 2023 January 27, 2023 Average asking rents in London have hit a record £2,480 per month amid fierce competition for properties in the capital, according to property website Rightmove. The average asking rent in London jumped 15 per cent annually to reach £2,480 at the end of last year, while asking rents in inner London climbed even higher to [...]
Khan to ‘digest’ findings of LandSec report warning London could be ‘unliveable’ in 10 years due to climate inaction January 26, 2023 British property investment trust Land Securities (LandSec) has warned cities could become “unliveable” in within 10 years without urgent planning reform to meet net zero goals. Research published this morning urges reform to prevent the UK’s cities suffering from the impact of climate change and external shocks, such as international conflicts like the war in [...]
House sales set to tumble this year on recession jitters, experts warn January 24, 2023 House sales are set to tumble due to owners waiting until the recession passes to cash in on their homes, estate agents have predicted today. Homeowners are expected to adopt a wait and see approach during the first six months of 2023 for fear they will have to sell their property at a lower-than-demanded price. [...]
