In London’s Maida Vale 38% of stock above £3m has reduced its asking price, suggesting that high net worth buyers could grab a bargain in the area. Meanwhile 31% of properties above £3m were reduced in Hampstead, St James’s and Pimlico. At the other end of the spectrum, just 6% of properties above £3m in […]
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Some 58% of prospective buyers have been able to save more money for a deposit since the start of the pandemic. However 41% think buying is more competitive than it was before Covid-19. The research comes from MyHome.ie, a property portal based in the Republic of Ireland. Angela Keegan, managing director of MyHome.ie, said: “These […]
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Coadjute, the blockchain network for the UK property market, has received funding from US venture fund Collab+Currency. Coadjute claims that its technology can double the speed of UK property sales by connecting all the parties involved in property transactions – like estate agents, conveyancers, banks, brokers and surveyors. Dan Salmons, chief executive of the company, […]
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Ilija Ugrinic is UK market director at Proactis Let’s face it: an orthodox 9-5 in the office is a thing of the past. Recent research suggests only one in eight workers wants to return to their office full time1. While this is a natural shift for workers, it is a seismic shift for commercial property […]
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The pandemic is driving more letting agents out of business, affecting not only them, but potentially landlords and tenants who aren’t signed up with money protection schemes. Since the pandemic started (from mid-March to mid-July), there has been a 66% increase in letting agents ending their redress membership because they have ceased trading, compared to […]
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Restrictions to curb the spread of coronavirus has driven stress, anxiety and depression are far in excess of levels usually seen in the UK, research from the University of Nottingham shows. In the early stages of lockdown 57% of those who took part reported symptoms of anxiety, with 64% recording common signs of depression. Office […]
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The Prudential Regulation Authority, part of the Bank of England, has warned buy-to-let lenders to take into account the reduction in mortgage interest tax relief when assessing applications. The phasing out of the tax relief was completed in April this year, which reduces the profitability for higher rate taxpayers. The authority said: “The PRA expects […]
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Surging activity has seen house prices rise by 6.5% in November, the highest rate of growth since January 2015, Nationwide’s House Price Index has revealed. This represents a rise from 5.8% in October. On a monthly basis prices have risen by 0.9% to £229,721 in November, a faster increase than the month before (0.8%). Miles […]
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It’s hardest to get on the property ladder in Switzerland, where the average property price amounts to £501,000 and the typical age of a first-time buyer is 48, research from Rentround shows. China is in second place, followed by Japan, France and Kenya. The UK is the sixth hardest, where the typical age of first-time […]
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Property firms have written to the Prime Minister and government, urging them to support tenants by appointing a Minister for Renting. Build-to-rent portal Love to Rent wrote the letter, which was co-signed by developers Folio London and Arcadia, as well as property management firm Hera Property. The letter called for Boris Johnson to make the […]
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