Property market is hot but cooling amid cocktail of low stock, high inflation and uncertainty June 21, 2022 The UK’s property market is still going strong, despite fears that rising inflation and the cost of living crisis will choke growth. The number of properties changing hands fell again last month in comparison with its pandemic heights last year. However, with some 100,870 homes sold in May, the latest government data has found a [...]
New acquisitions to help Schroder European Real Estate Investment Trust weather economic storm June 21, 2022 Dealmaking and buyouts will help Schroder European Real Estate Investment Trust weather the geopolitical and economic storm brewing over the continent, one fund manager has said today. “New acquisitions will provide further diversification and help maintain the attractive dividend,” fund manager Jeff O’Dwyer said in a statement this morning, as the firm seeks “sustainable rental [...]
Housebuilders tank on stock market with investors ‘nervous’ about mortgage rates June 20, 2022 Housebuilders lead the London Stock Exchange’s top fallers today, after the latest house price data cautioned the tightening of purse strings amid a cost of living crisis. Barratt Developments and Berkeley Group led the descent, falling a little over four per cent each. While Persimmon dove 3.7 per cent, Ashtead slipped 2.8 per cent and [...]
House price growth slows with real estate sector warning of affordability crunch for buyers June 20, 2022 The pace of house price growth slowed in May, with potential buyers’ tightening budgets set to slow growth further in the months ahead. According to today’s Rightmove’s house price index, buyer demand for available properties was down eight per cent last month, versus April. Even so, the price of property smashed another record, for the [...]
Indignant brokers fiercely dismiss Martin Lewis’ notion many mortgages are ‘a ticking time bomb’ June 19, 2022 The well-known personal finance guru Martin Lewis recently warned that mortgages are a “ticking time bomb” for homeowners, as he said Brits should lock in cheap mortgage rates soon before monthly payments become unaffordable. Lewis’ comments come as the cost of living for most Brits is climbing fast, with energy bills going up by an [...]
Run on equity release: Cash tied up in properties fund £1 in every £90 spent by retired Brits June 18, 2022 A new analysis published this week showed that equity release finances around £1 in every £90 spent by retired Brits. Total retirement spending funded by equity release could top £4bn this year and £5bn in 2025, according to modelling by the Centre for Economics and Business Research (Cebr), as homeowners increasingly look to property wealth [...]
Government to publish renters reform bill to tackle ‘no-fault’ evictions and rent hikes June 16, 2022 The government is readying to publish its Renters Reform Bill white paper today, in a bid to tackle ‘no-fault’ evictions, rent hikes and make it easier for tenants to keep pets. The Department for Levelling Up Housing and Communities has described the Bill as “the biggest shake-up of the private rented sector in 30 years.” [...]
West End landlords Shaftesbury and Capco push ahead with £3.5bn merger June 16, 2022 West End landlords Shaftesbury and Capital & Counties Properties (Capco) have agreed to push ahead with a £3.5bn merger, which will see much of London’s beloved theatre district fall under one wing. The merger, which had raised the eyebrows of one investor, will see shareholders receive 3.35 new Capco shares for each Shaftesbury share. Combining [...]
Dexters bets on US buyers to ride out UK’s cost of living crisis June 15, 2022 Dexters’ is “highly confident” that London’s property market will remain buoyant amid a cost of living crisis which is expected to weigh on house moving, CEO Andy Shepherd has told City PM today. The London real estate agent revenue has spiked more than a third over the past year, from £108.7m a year prior to [...]
UK mortgage arrears hit highest level in more than 12 years as debts to banks creep past record £2bn June 15, 2022 The value of mortgage arrears in the UK has reached its highest level since 2010, with £2.05bn of mortgage debt delinquent at the end of the first quarter of 2022, according to new data shared with City PM this morning. As interest rate rises and the cost-of-living crisis hit household finances, more families are now [...]
