Affordability in UK housing market plunges to 10-year low August 11, 2021 Affordability in the UK property market has plunged over the last year amid soaring house prices and stagnating wage growth, according to new figures published today. Research from Halifax shows the average home in the UK now costs 8.1 times average earnings, the highest on record since the lender started tracking the figures 10 years [...]
Investor confidence in UK real estate edges up after Freedom Day as outflows decrease August 11, 2021 In the wake of the UK’s “Freedom Day” easing of Covid restrictions, investor optimism for real estate funds gained ground in July, reflected in significantly decreased outflows compared with previous months. Investors pulled £94m from UK property funds in July – which, although still a considerable outflow, was a marked improvement on the £249m outflows [...]
Exclusive: Unpaid stamp duty clawed back by the tax man soars to five-year high August 11, 2021 Tax clawed back from probes into suspected unpaid stamp duty reached a five-year high this year, reveal exclusive figures obtained by City PM The tax man recouped an average of £113,400 from each investigation it launched into unpaid stamp duty in 2020/21, shows data secured through a Freedom of Information request submitted to HMRC. The data [...]
Derwent London snaps up Bloomsbury buildings as return to office builds August 10, 2021 Property giant Derwent London has announced the acquisition of five buildings around Bloomsbury and Marylebone as demand for new office space starts to rebound. Derwent London exchanged contracts for two properties totalling 182,100 sq ft located in the so-called knowledge quarter around University College London for £214.6m. The freehold office building at 250 Euston Road [...]
House prices rise but annual growth slows to 7.6 per cent as ‘steadier period’ predicted August 6, 2021 Houses prices rose again in July but slower annual growth suggests the market may be ‘cooling’, according to Halifax House Price Index data published today. The average cost of a property in the UK is now £261,221, up 0.4 per cent from June, adding £1,122 to the price of an average house. Annual growth fell [...]
Savills profits swell eight-fold, reaping rewards of a UK house buying frenzy August 5, 2021 Real estate services group Savills has seen its profit before tax surge more than eight-fold in the past six months, as the firm posted record levels of UK residential transaction advisory. The firm raked in revenue of £932.6m in the six months to 30 June, up by some £141.2m in comparison to last year. Meanwhile, [...]
Bargain hunt: One in three London homes fetch lower asking price August 5, 2021 London’s property market has become a buyer’s market, driven by demand flowing out of the capital and into areas such as the commuter belt since the onset of the Covid crisis, according to new figures published today. Research by London estate agent Benham and Reeves reveals nearly one in three properties in the capital have [...]
Taylor Wimpey revenue jumps 190 per cent after building record number of homes August 4, 2021 Housebuilding group Taylor Wimpey has built a record number of homes in the past six months, which has given its revenue a well-needed uplift. The housebuilder completed some 7,303 homes in the six months to 4 July, up from 2,771 in the same period last year. Shares were up three per cent in its afternoon [...]
London’s One Palace Green mansion to be turned into luxury flats worth £100m August 2, 2021 London and Monaco residential property company REDD has bought One Palace Green on Kensington Palace Gardens, which it plans to turn into into a luxury residential scheme. Once complete, the Grade II listed mansion originally the London residence of the Howard family of Castle Howard fame, is expected to be worth more than £100 million. The property company [...]
Countryside creep: London homeowners flee capital at record rate August 2, 2021 London homeowners are fleeing the capital at record levels as city slickers pursue newfound housing needs triggered by the Covid crisis, according to new figures released today. Research by estate agent Hamptons shows 61,830 Londoners purchased homes outside the capital in the first six months of this year, the highest number since they started recording [...]
