MPs call on government to reverse plans to force landlords to pay for cladding remediations March 11, 2022 Cross-party MPs have criticised the government’s building safety policies as “piecemeal measures”. A proposed cap for fixing building defects that are not cladding should be scrapped, a report from the Levelling Up, Housing and Communities (LUHC) Committee has concluded today. The report was a response to policies set out by housing secretary Michael Gove earlier [...]
Boss of Purplebricks steps down at troubled estate agent March 10, 2022 The boss of online estate agent Purplebricks has quit his role because of “personal circumstances.” Vic Darvey’s departure was announced on Thursday, with the CEO set to leave at the end of this month. Shares were up 4.2 per cent when trading closed on Thursday night. Chief operating officer Helena Marston will step into the [...]
Home sales continue to soar as buyers keen to move despite rates hike March 10, 2022 Home sales surged last month with strong demand from buyers not letting up, even in spite of an uplift to increase rates. The latest RICS Residential Market Survey reported a net balance of nine per cent more respondents saying sales were increasing. This represented the strongest reading since May 2021. The survey also reported a [...]
Drivers in Camden, Tower Hamlets and Lambeth among worst offenders in UK March 10, 2022 London is home to some of the worst drivers in the country, with Camden in particular having the fourth-worst record for crashes nationally. Four key London authorities have among the highest number of accidents per 100,000 registered vehicles, new figures show this week. The culprits were Camden, Tower Hamlets, Lambeth, and Westminster, with other areas [...]
Savills profits surge as global real estate market comes roaring back March 10, 2022 Estate agent giant Savills reported a surge in profits today as the housing market came roaring back from a pandemic-induced slowdown in 2020.
As the Queen moves out of Buckingham Palace, any new occupant would pay £250m deposit with monthly mortgage of £1m March 9, 2022 With the Queen moving out of Buckingham Palace to ‘work from home’ at one of her castles, research has found it would cost almost £250m just for a deposit to purchase the London landmark – with up to £3m a month in loan payments. In her Majesty’s Platinum Jubilee year, the nonagenarian has left the [...]
HMRC owes construction workers close to £1.5bn following pandemic property boom March 8, 2022 Almost £1.5bn is owed to Britain’s construction workers by the taxman following the pandemic property boom, according to new data shared with City PM today. It is estimated that more than 1m people working in the sector could be owed a tax refund, after the industry “weathered a particularly fierce storm” to keep Britain building [...]
London firefighters battle major blaze in the City as Aldgate tower block fire leads to road closures March 7, 2022 A major fire is currently raging near Aldgate East station as dozens of firefighters are battling a huge blaze. Social media images have shown smoke across Canada after a fire appears to have broken out on one of the floors of the Crawford Building on Whitechapel High St. The London Fire Brigade [...]
House prices increase at fastest annual pace since 2007 as property values jump by almost 11 per cent March 7, 2022 House prices increased at the fastest annual pace since 2007 in February to reach a new record high, according to an index. At 10.8 per cent, the annual rate of house price growth was the strongest since June 2007, Halifax said. The increase took the average house price across the UK to a new record [...]
South Kensington’s The Exhibitionist Hotel sold for £10.6m March 7, 2022 BNP Paribas Real Estate has sold the iconic The Exhibitionist hotel in South Kensington for £10.6m to an undisclosed buyer. Following a competitive bidding process on behalf of its unnamed client, the 37-bed freehold boutique hotel on Queensberry Place was snapped up for 15 per cent over its quoting price; it is the first time [...]
