Breaking News
Confidence in UK Commercial Property Development being at it’s lowest.
Recent survey from Savills point to confidence in UK Commercial Property Development being at it’s lowest since April 2013 – Growing the fears that the European referendum is hitting confidence among developers. There was positive in that January saw an increase in activity of 8.4% compared to 4.5% in December. Fewer new planning consents are…
Christopher Walkey
The Crossrail Effect
New data focused on property close to the Crossrail terminals in London shows that demand has more than doubled in the last year. It is expected that Crossrail services will commence on the central section by late 2018, In all Crossrail will be connecting 40 stations and it is projected that around 200 million passengers will…
Allen Walkey
Fewer conveyancing firms in 2015
According to Search Acumen the total number of active conveyancing firms dropped by 9% in 2015, that equates to more than 500 firms. Conveyancing firms recorded an average of 192 transactions in 2015, compared to 175 transactions in 2014, the increase came despite the overall conveyancing market remaining flat with 1,030,023 transactions in total during…
Allen Walkey
Surge in new homes built and bought.
Help to buy creates surge in new homes built and bought according to Press release yesterday from the Department of Communities and Local Government and Brandon Lewis MP. New research has found 43% additional new homes built as a direct result of Help to Buy equity loan. Key points are: 82% of buyers would not…
Allen Walkey
Rightmove HPI February
The Rightmove House Price Index February 2016 Prices and demand at all – time highs as Year of the First-Time Buyer kicks in. Price of property coming to market increases by a substantial 2.9% (+£8,324) this month, hitting a new record of £299,287 and surpassing the record set in October 2015 by over £2,700 Housing…
Allen Walkey
Northern Ireland to see Greggs opening multiple shops.
Savills who acts on behalf of Greggs is reported to have now confirmed that Greggs, the popular high street bakery chain, is indeed looking to expand it’s services across Northern Ireland. (Though it was reported on the Irish News website that Greggs in fact refused the claims of them looking to expand their services in Northern…
Christopher Walkey
Repossessions fell in 2015
Figures from mortgage lenders show that the number of homes repossessed fell to an 11 year low in 2015. Across the UK 10,200 repossessions were recorded in 2015, almost half the 20,900 cases recorded in 2014, that is according to the Council of Mortgage Lenders (CML). They reportedly pointed out that a court case which…
Allen Walkey
Section 21 Accelerated Possessions hit an all-time high.
The Ministry of Justice (MoJ) has released its landlord possession statistics for October to December 2015, which reveals total evictions last year reached a record high of 42,728. Whilst overall possession claims fell during the year to 148,043, the number of accelerated possession cases continued their upward trend reaching 37,663 in 2015, up 4.5% on…
Christopher Walkey
New head office for Zoopla Property Group
Zoopla Property Group (ZPG), the digital media business that owns and operates some of the UK’s most widely recognised and trusted online brands including Zoopla, uSwitch and PrimeLocation announced this week that it has agreed a lease for its new head offices at 1 Courage Yard, Shad Thames SE1, adjacent to Tower Bridge. Since…
Allen Walkey
Alarmingly high cost of renting for First-time-Buyers
The average First-time-buyer will have spent nearly £53,000 on rent in their lifetime before they have saved enough to buy a home, in London that figure rises to almost £70,000, according to new research. According to the Association of Residential Letting Agents (ARLA) in its Cost of Renting report, the average first-time buyer will have…
Allen Walkey
Commercial Property Investment in Europe
The latest RICS Global Commercial Property Monitor shows exceptional investment market conditions in Germany and Spain, where investors’ expects strong returns in both prime and secondary assets over the next twelve months. Investment activity is improving markedly in several cities within the euro area, particularly in Madrid, Amsterdam and Berlin, where demand from domestic and…
Allen Walkey
Ardmore wins £80m Canada Water deal
Ardmore has been confirmed winner of an £80m contract to build the first residential and retail phase of Project Light at Canada Water in Southwark. The scheme by Notting Hill Housing and Sellar Developments will deliver a new town centre with 1,030 new homes and a range of commercial and community uses across a seven…
Allen Walkey
Near term pressure on house prices
A steady rise in housing supply is being offset by a dash to invest in homes for the rental market ahead of a tax hike in April, which in turn is driving up house prices, the number of homes up for sale has fallen, down 6% overall, that is according to the Royal Institute for…
Allen Walkey
Interest is high for the Help-to-Buy Scheme
Help-to-Buy is the scheme whereby first or next time buyers can purchase a new-build property, maximum purchase price for elegible properties is at £600.000. Buyers will be contributing a 5% deposit from their own funds while receiving a 40% interest-free government loan for five years, allowing them to take out a mortgage of 55% loan-to-value….
Allen Walkey
Increase in demand for office space.
According to a new report out, Liverpool city centre has seen an increase in demand for all grades of office accommodation, Manchester registered the highest average of all nine cities outside of London that featured in the study. Ian Steele, director at Bilfinger GVA Liverpool, reportedly says: “It is clear that there has been an…
Allen Walkey