No property policies: Lack of housing ideas from Truss and Sunak branded ‘deeply alarming’ July 24, 2022 Rishi Sunak and Liz Truss need to put tackling the housing crisis at “the top of their list” if they become Prime Minister, a major housing association told City PM this morning. The National Association of Property Buyers said a whole generation of people faced being unable to own or rent a property due to [...]
Bosses at Countryside hail best quarter of the year amid C-suite turmoil July 21, 2022 Bosses Countryside Partnerships have hailed its latest trading quarter, after a turbulent start saw its CEO, and later its chairman, swiftly exit the company. The FTSE housebuilder’s adjusted revenue has grown 20 per cent to £219m in the three months to 30 June, up from £183m in the same period last year. However, in January, [...]
Property and rent price rises speed up as low stock and inflation grip households July 20, 2022 The pace of property and rental price rises in the UK has sped up, according to the latest figures, as a cost of living crisis shrinks household budgets. Rents in the UK rose by three per cent in the year to June, up from 2.8 per cent in the 12-months to May. House prices increase [...]
Shaftesbury boss assures that London’s slipping footfall will be over soon July 18, 2022 The boss of West End landlord Shaftesbury Capital has assured that despite falling footfall levels in London’s heat, it will not be for long. “People are going to avoid city centres because they’re the hottest places,” Brian Bickell told City PM today, adding that “By the weekend people will be back to doing the things [...]
Derwent London sells £85m office block to fund eco-buildings in the capital July 18, 2022 Derwent London has sold off a Westminster office building for £85m, as the developer looks to pump capital into its carbon neutral projects, as the capital braces for a heatwave. The windfall from the sale has crystallised the company’s profits early, the company’s boss said today. The south west wing of Bush House, some 103,700 [...]
London rents hit eyewatering average of £2,675 as homeownership falls further out of reach July 18, 2022 Rents in London have grown faster than anywhere else in the country for the second month running, with the average hitting £2,675. Londoners were found in February to already be dishing out more than 70 per cent of their monthly paycheck on their rent by city estate agent Benham and Reeves. Though the figure has [...]
City bombshell: Hundreds of angry Northern Rock clients sue TSB Bank for £800m after being trapped in high-interest mortgages July 18, 2022 City PM was told this morning that TSB Bank is facing a legal action worth up to £800m, brought by customers who claim they were locked into mortgages with ‘excessively high’ interest rates. Today, six years to the day since TSB bought £3.3bn mortgages from Northern Rock, approximately 200 homeowners whose mortgages have been administered [...]
Chelsea Creek is a rare opportunity to buy a designer new build near King’s Road July 17, 2022 Designed by Goddard Littlefair, this show-home at Chelsea Creek is a slice of country life Home to one of the only new canals built in London in the last 100 years, Chelsea Creek is the waterfront living quarter that’s a stone’s throw away from the King’s Road in Chelsea. The apartments are relatively affordably priced [...]
Overvalue your house at your peril July 17, 2022 Getting the price right is key to a successful sale, says Marlon Lloyd Malcolm head of sales at Lurot Brand One of the main reasons ven- dors are left with a bad taste when selling their home stems from incorrect valuations. This often results in the home sitting on the market and ultimately selling for less than [...]
UK landlords urge new prime minister to strengthen supply amid record rent costs July 15, 2022 The UK’s new prime minister must address the trickling supply in the rental market, an industry body has urged, as average costs spiral northward. The heated rental market, which has seen tenants often offering over the asking price in order to secure a tenancy, is weighing on Brits’ aspirations for homeownership, according to the National [...]
