Exclusive: London Mayor Khan warns lack of supply in capital pushes up property prices July 23, 2021 The Mayor of London, Sadiq Khan, warned that London’s house price hikes are primarily caused by a lack of available properties. “The main reason is the lack of supply to meet demand. And so what we’ve got to do is increase the supply of all forms of housing in London to meet the demand,” Khan [...]
First-time buyers: Where do millennials stand on the property ladder? July 21, 2021 Around two-thirds of people aged in their 20s and 30s hope to buy a new home in the next five years, according to a survey. Some 66 per cent of people in their 30s and 67 per cent in their 20s are considering buying a property in the next five years, compared to 38 per [...]
Property transactions surge to record high in June July 21, 2021 UK monthly property transactions hit a record high in June as prospective homebuyers scrambled to complete purchases before the stamp duty holiday tapered at the end of the month, new figures released today show. HMRC said seasonally adjusted monthly transactions in June reached 198,240, the highest since records began. Read more: House prices surge 5.7 [...]
Why off-street parking could add 20% to the price of a top London property July 20, 2021 When you think of the bleeding edge of the PCL property market, of the difference between a £3m flat in Chelsea and one that’s worth a mere £2m, you might conjure images of exquisitely-preserved period features or green rooftop oases. But the prime concern may be something a little more prosaic: off street parking. As [...]
£15bn worth of London homes sit empty, as Londoners squabble over supply July 20, 2021 The value of London’s homes sat empty has racked up to £15bn, according to new data, as a rung on the property ladders edges further away from Londoners. London has made a name for itself as a destination for ultra-wealthy buyers to snap up prime real estate as assets and holiday homes, while prospective homeowners [...]
Exclusive: Argyll Club COO on the future of Canada July 19, 2021 As England lifts most Covid-related restrictions from today, City PM sits down with Emily Smith, chief operating officer of flexspace provider The Argyll Club, to zoom in on the future of the Square Mile post-pandemic. Smith is a true industry veteran, with 20 years’ experience and stints at IWG, Regus, The Crown Estate and Grosvenor. Now, she sits at the helm of The [...]
Shortfall of 225,000 properties as average house price jumps to £338,447 July 19, 2021 Across Britain, the average asking price for a home is now £21,389 higher than it was just six months ago. The average price tag has jumped to a new record high for the fourth month in a row, reaching £338,447 in July, according to property website Rightmove. The website said the first half of this [...]
Lenders set to increase interest-free periods on credit cards July 15, 2021 Households could be offered longer interest-free periods on credit cards over the summer, according to a survey of lenders. Banks and building societies also anticipate that mortgage availability to households will rise, according to the survey published by the Bank of England. The Bank’s Credit Conditions Survey is carried out every quarter to help it [...]
City suburbs, commuter towns and coastal locations record biggest jumps in rent July 15, 2021 City suburbs, commuter towns and coastal location have recorded the biggest rises in rent for tenants last year. Property portal Rightmove said that towns such as Rochdale, Folkestone and Farnham have seen asking rents jump by more than 25 per cent. Their survey showed that as Covid restrictions started to ease, there was a greater [...]
High risk clients: Furloughed workers and self-employed with Covid grants refused mortgages July 15, 2021 Furloughed workers and self-employed people who have received government grants during the pandemic have been refused mortgages by some of the UK’s major banks. This comes as some brokers argued that banks see people who have received Covid-related grants as high risk. Two of the UK’s biggest high street banks, NatWest and the Royal Bank [...]
