The Bank of England has cut the interest rate to 0.1% and injected £200m into the economy through bond purchases. This is the second cut the Bank’s Monetary Policy Committee has made via an emergency meeting in two weeks, after it slashed the rate from 0.75% to 0.25% last week. A Monetary Policy Committee statement […]
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James Thornton is chief executive of Mayfair Capital Real estate impact – short term It is still too early to fully assess the impact of coronavirus on the UK real estate market as this will depend on the duration and severity of the current outbreak. However, we can identify some short-term implications related to pricing […]
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Sales and viewings through online estate agents are falling considerably now the coronavirus outbreak worsened, data from online estate agency Doorsteps indicates. Its daily sales have fallen by 77% from the first week of March to the third, while there’s been a 51% drop in daily bookings for viewing properties. Akshay Ruparelia, managing director, said: […]
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Homeowners who see their homes fall in value need to keep some perspective, given that prices tend to recover from short-term dips, Sarah Coles, personal finance analyst at Hargreaves Lansdown, said. It seems likely house prices could fall this year due to the economic slump caused by coronavirus, which could be a particular blow to […]
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A new estate agency portal called Openbrix is set to go live in April. The portal will provide estate agents with free listings for its first three months, while it promises to be cheaper than other portals like Rightmove after that period. The company is currently undergoing a live trial. The firm pledged to allow […]
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Macbryde Homes will build 25 luxury new homes in Meols, Wirral, under its Signature Collection brand. Work on the development, to be known as Queensbury Manor, has started and sales will launch shortly. Gwyn Jones, managing director of Macbryde Homes, said: “The opportunity to purchase this land, which is in such a highly sought-after location […]
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Peter Sheehan is director and owner of prime property buying agency The London Resolution In these unprecedented times, larger estate agents are using video footage to replace in-person viewings. As a result, both domestic and overseas buyers are making purchasing decisions from the comfort of their homes. High-end property investments will still take place, albeit […]
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SDL Auctions said March dates will go ahead behind closed doors, though property viewings will continue as normal. Three March auctions scheduled to take place in Birmingham, Derby and Leicester will go ahead with remote bidding. Andrew Parker, managing director and auctioneer, said: “We have not taken this decision lightly but the safety and health […]
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The government has suspended evictions and introduced three-month mortgage payment holidays for landlords. Landlords will not be able to start proceedings to evict tenants for at least three months from social or private rented stock. The three-month mortgage payment holiday measures have been extended to landlords who are facing financial difficulties due to coronavirus. The […]
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Landlords who manage out-of-town retail parks could be in trouble over the next five years, a report from Radius Data Exchange has warned. Investment into the sector dropped by 80% year-on-year in H1 2019, while increased vacancies and expiring lease terms could suppress the value of these assets. Retail is being let at too high […]
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