Housing market at the forefront of UK’s economic revival, says minister May 13, 2020 The housing market will be key to reviving the British economy and needed to be re-opened, according to housing secretary Robert Jenrick. At today’s press briefing, Jenrick said the “pressure for some to move was becoming acute”, with the government estimating that 450,000 buyers and renters have been unable to move house since March. The [...]
Property stocks jump as restrictions on UK housing market ease May 13, 2020 Estate agent and housebuilder stocks soared this morning after the government last night loosened lockdown restrictions on the UK housing market. Shares in London estate agent Foxtons surged 8.31 per cent to 43.65p and online platform Purplebricks’ stock soared 11 per cent to 37.86p. LSL Property Services, the owner of Your Move and Reeds Rains, [...]
Housebuilder Taylor Wimpey to reopen show homes and sales centres after government lifts restrictions May 13, 2020 Housebuilder Taylor Wimpey will begin the phased reopening of its show homes and sales centres this month, after the government lifted restrictions on the property market. The developer said sales centres and show homes will be available for pre-booked appointments from 22 May, and it will take the majority of its sales staff off the [...]
UK house market to restart as government relaxes regulations May 12, 2020 The government has relaxed lockdown rules from tomorrow to allow the UK house market to restart. Under the new regulations people will be able to visit estate agents, view properties and move house without breaking lockdown rules. Those involved will be expected to observe social distancing rules and wear gloves or masks where necessary. The [...]
Only 10 per cent of office space in use during lockdown, says Landsec May 12, 2020 Property landlord Landsec said only 10 per cent of its office space is currently being used as most employees are working from home during the coronavirus crisis. The property company, which this morning revealed a £1.2bn hit to the value of its portfolio, said the office sector had seen a “less pronounced immediate impact” compared [...]
Landsec shares dive after £1.2bn wiped off property value during coronavirus crisis May 12, 2020 Landsec’s share price plunged this morning after the property giant revealed it had taken a £1.2bn hit to its portfolio value. Landsec, one of the UK’s largest property companies, also warned that it does not expect the economy to recover until at least 2022. The value of the company’s portfolio slumped 8.8 per cent to [...]
London house market set for £52bn post-lockdown splurge as transactions stall May 11, 2020 London property buyers could be set to splurge £52bn once the lockdown is lifted due to huge pent-up demand as coronavirus brings the market to standstill. The figure represents the potential spend for residential buyers and marks a 20 per cent increase on the same time last year. It comes as the number of lost [...]
Debenhams to close five stores after dispute with landlord Hammerson May 7, 2020 Debenhams has announced it will permanently close five stores in Hammerson shopping centres after it was unable to reach an agreement with the landlord, with Next swooping in to rent some of the vacant space. The department store chain will shut its stores at Hammerson’s Birmingham Bullring, Leicester, Reading, Croydon and Glasgow Silverburn sites, affecting [...]
UK house prices dip in April as coronavirus lockdown brings market to standstill May 7, 2020 UK house prices dipped in April as property market was brought to a standstill by the coronavirus lockdown, however property expects expected buyers and sellers to return “in droves” when restrictions are lifted. UK house prices fell 0.6 per cent in April compared to the previous month, dropping to an average price of £238,511. On [...]
Coronavirus: UK construction sector grinds to a halt in worst month on record May 6, 2020 UK construction sector activity juddered to a halt in April, survey data has shown, as coronavirus lockdown measures pushed the industry to its worst month on record. The IHS Markit/Cips construction purchasing managers’ index (PMI), a gauge of the health of the sector, plunged to an all-time low of 8.2 in April from 39.3 in [...]
