Buyers face slim pickings as market supply still limited October 14, 2021 Buyers have slim pickings when it comes to the housing market, with a continued lack of supply of homes on the market. There was a more stable trend in buyer demand in September, after a brief pull-back following the frenzy around the stamp duty holiday. Data from the Royal Institution of Chartered Surveyors (RCIS) showed [...]
Barratt remains on track with steady customer reservations October 13, 2021 UK residential property developer Barratt Developments is on track to deliver its targets for the medium term as well as for FY2022, after registering a steady customer demand between 1 July and 10 October. “The positive start to the new financial year has continued in recent weeks with private reservations remaining strong,” said Barratt’s chief [...]
It’s time to break the social housing stalemate and build affordable homes October 12, 2021 When you’re losing in a game of chess, you try to end it with a stalemate: no one wins and no one loses. The game ends in a draw. The social housing system in the UK finds itself exactly in this position. The difference is that someone is losing: the scores of families stuck on [...]
German investors plug £847m into City property October 11, 2021 German investors have injected £847m into property in the Square Mile so far this year. This is the second-highest level invested into properties in Canada since 2013, the Telegraph newspaper reported. One in five property transactions in the City were carried out by German investors in the year to mid September, according [...]
Businesses yet to receive a penny from £1.5bn Covid support pot October 11, 2021 English businesses are yet to receive a single penny in relief following the announcement of a £1.5bn targeted Covid support fund six months ago. The business rates relief fund was announced to help businesses affected by Covid outside the retail, hospitality, and leisure sectors. The government said it would retrospectively ban more than 170,000 rates [...]
High street bosses plead Chancellor to slash business rates October 10, 2021 Around 20 retail leaders have called for a cut to business rates to ensure the high street’s pandemic recovery. Some 21 bosses – including leaders of Iceland and MossBros – have written to Chancellor Rishi Sunak and said urgent intervention is needed to protect businesses. “There are many views on precisely how the business rates [...]
Tory manifesto pledge to build 300,000 new homes a year ‘almost impossible’, say analysts October 10, 2021 Boris Johnson’s pledge at the last election to build 300,000 new home a year by the middle of this decade is now “almost impossible” due to labour and material shortages, according to industry groups. The Conservative party’s election winning 2019 manifesto included a promise to build “300,000 homes a year by the mid-2020s” and that [...]
WeWork losses cast shadow over $9bn listing October 10, 2021 WeWork is set to report a loss of $1.5bn (£1.1bn) for this year, weeks before the company’s planned $9bn listing on the New York Stock Exchange, according to reports. City PM understands that the flexible office-space provider first made investors aware of its expected losses in an earnings report in August and again in an [...]
Real estate group snaps up 12 Hilton hotels in deal valued at £555m October 9, 2021 London headquartered Henderson Park Capital has reportedly purchased a chain of Hilton hotels in a multi million pound deal. The real estate group will add 12 hotels to its portfolio complete with 2,400 rooms which span London, Edinburgh, Dublin, Bristol and Coventry. The property is valued at £555m according to the FT and Henderson Park [...]
Revealed: The UK’s top 10 hottest property markets where house prices rise fastest October 9, 2021 City PM can reveal this morning what are the property hotspots across Britain at the moment, with Toxteth in Liverpool being identified as the number one market, with a 20 per cent increase in the average price tag for a home over the past year. Accrington in Lancashire, Retford in Nottinghamshire and Heywood in Greater [...]
