High demand for prime property leads market rebound August 24, 2020 High demand for so-called prime property has led the UK housing market’s post-lockdown rebound, new data from estate agents Knight Frank revealed today. Since markets reopened in mid-May, the UK market has surged back at a surprisingly swift pace due to the release of a tide of pent-up demand. According to the research, the biggest [...]
Square Mile builder: It’s time to get London back up and running August 20, 2020 “I’ve been getting on trains for six weeks and not once have I felt uncomfortable because I wasn’t able to socially distance,” says Square Mile construction firm Mace’s chief executive Mark Reynolds. The company, which is headquartered in Moorgate in the heart of the City, is slowly encouraging staff to return to work at the [...]
Purplebricks fined £260,000 for breach of money-laundering rules August 18, 2020 Online estate agency Purplebricks has been fined more than £260,000 by HM Revenue & Customs for violating money-laundering rules. Under UK regulations implemented in 2017, estate agencies are required to ensure customers are not using their business to launder money. The legislation says estate agencies are responsible for carrying out financial checks on their clients [...]
Persimmon’s first-half profit slumps before market rebound August 18, 2020 Housebuilder Persimmon’s pre-tax profit tumbled 42 per cent in the first half of the year, but the company said it had had an “excellent start” to the second half as market sentiment improved. The figures Persimmon’s profit before tax fell 42 per cent to £292.4m in the six months ending 30 June, down from £509.3m [...]
James Bond penthouse in former MI6 headquarters on sale for £5.5m August 17, 2020 A penthouse apartment in the former MI6 headquarters that was once home to the real-life inspiration for James Bond’s boss M has gone on the market for £5.5m. The bombproof flat, located in Whitehall Court in the heart of Westminster, is part of the original London base of the Secret Intelligence Service. It also served [...]
UK housing market surges in busiest month in 10 years August 17, 2020 Brits have turned to home-buying to fill the summer holiday void post-lockdown as the UK housing market’s “mini-boom” accelerated in August. Rightmove’s latest house price index released today reveals the highest number of monthly sales in more than 10 years in August. It is up by 20 per cent on the previous high, and with [...]
UK tradespeople remain optimistic despite pandemic uncertainty August 17, 2020 Tradespeople in the UK continue to remain optimistic for near-term workloads despite the economic havoc triggered by the pandemic. A survey of over 1,300 tradespeople conducted by builders’ merchant Travis Perkins, found half of the respondents believe their workloads will increase and will have to buy new materials over the next two months. The first [...]
UK house prices move out of negative territory for first time since March August 13, 2020 UK house prices gained momentum last month, moving out of negative territory for the first time since lockdown began as the government’s stamp duty holiday motivated buyers. However the bounce is not expected to last long, as government support schemes wind down in the winter. UK house prices firm up Across the UK in aggregate, [...]
London house prices fall despite market’s coronavirus recovery August 13, 2020 London house prices continued to fall in July, new data revealed today, despite an increase in demand from new buyers. Respondents to the Royal Institution of Chartered Surveyors (RICS) UK Residential Survey also do not expect this demand to continue, as wider government support measures begin to be phased out later in the year. Buyers [...]
More than 3m older people can’t downsize due to lack of suitable housing August 13, 2020 More than 3m people in the UK over the age of 65 want to downsize to a smaller home but can’t due to a lack of suitable housing and a competitive market. Ahead of the Autumn Budget, a report by Homes for Later Living called for ministers to set a goal of building 30,000 retirement [...]
