‘London will flourish again’ says Berkeley Group as it lands £500m profit June 23, 2021 London received a vote of confidence from Berkeley Group this morning as the housebuilder’s boss said he believed the capital is set for a post-pandemic boom. The Group made a profit before tax of more than half a billion pounds in its last financial year, much of which was driven by the sale of properties [...]
Average rental prices in London climb 68 per cent since financial crash June 22, 2021 Rent prices have climbed across England since the financial crash in 2008, but nowhere more so than in London, where rents are now 68 per cent higher than they were in 2008/09. In the wake of the 2008/09 economic downturn, average rent across the capital stood at £977 per month, according to data from Ascend [...]
Property transactions fall in May as end of stamp duty holiday cools market June 22, 2021 UK residential property transactions fell in May, with buying and selling in the coming months likely to reduce further as the stamp duty holiday ends. There were 114,940 residential property transactions in May, according to ONS figures, some 3.9 per cent lower than in April 2021. House prices have boomed in the last year due [...]
Some 300 million extra square feet of warehouse space needed in Europe to support e-commerce boom June 22, 2021 Nearly 300 million square feet’s worth of warehouse space in Europe will need to be found to cope with the e-commerce boom expected in the coming years. E-commerce sales across Europe are expected to increase by $298bn from 2020 to 2025, requiring thousands more industrial warehouses and distribution spaces to meet the growing demand, according [...]
Tory MPs call for compensation for homeowners near new housing developments June 21, 2021 A group of Tory backbenchers want cash compensation to be given to homeowners who are affected by new housing developments built through the government’s planning reforms. Conservative backbencher Steve Baker is arguing today that Boris Johnson’s new planning reforms will see new developments “trespassing on existing property owners” and that they should be given something in [...]
Barnet, Richmond and Ealing see house price spike as pandemic fuels outer London spree June 21, 2021 House prices are heading upwards right across the country – but some London boroughs are doing better than others. New data suggests outer London properties have benefitted from a spike in pandemic-era purchases, as inner London residents look for more space and existing suburban dwellers tire of the same four walls. Properties in Barnet and [...]
House prices rise £2,500 in June but ‘early signs’ suggest market is slowing June 21, 2021 House prices rose again this month, bringing the UK’s average house price to a new record high, however there are early signs the market is starting to slow down. House prices rose £2,509 this month, a relatively modest rise 0.8 per cent, pushing house prices to a new record high of £336,073. June’s rise was [...]
Commercial landlords threaten to sue government over eviction ban extension June 20, 2021 A raft of commercial landlords are considering launching legal action against the government after it extended its business eviction ban until March 2022. The British Property Federation, a lobby group for commercial landlords, is looking at all legal options as there is now an estimated £6bn in unpaid rents throughout Covid-19. Chief secretary of the [...]
Close to home: Demand for city centre offices drops as hybrid working picks up June 16, 2021 Suburban office markets outperformed city centres for the first time in ten years, with six out of nine major cities seeing a drop in workstation rates. Research published today found demand was driven by workers rejecting both working from home and returning to crowded cities. The shift to smaller towns was also influenced by companies [...]
London lost £20bn in home sales during Covid-19, but these boroughs bucked the trend June 16, 2021 London lost £20bn in home sales during hte first 14 months of Covid-19, these capital boroughs bucked the trend
