The smart money is making a move in London, but will these early shoots bear fruit?
A US tycoon’s recent ultra-prime splurge has helped boost sentiment in the capital, write Richard & Sophie Rogerson, but the key challenges remain for all buyers…
Brexit delay has prompted a ‘significant increase’ in buyer activity, reports agency
Estate agency Winkworth has seen a 27% jump in new buyer registrations and a 24% rise in agreed sales since the latest Brexit delay was declared at the end of March
Wealthy Chinese lead demand for UK’s ‘golden visas’
Nearly two thirds of the applications made for Tier 1 investor visas last year came from Chinese nationals, while demand halved amongst wealthy Russians
SDLT receipts plummeted by 26% in Q1
The Treasury’s Stamp Duty tax take fell dramatically from Q4 2018 to Q1 2019, reports LCP, as Brexit amplified the seasonal transaction dip
Grosvenor: ‘We will have to work harder & cleverer to deliver returns anywhere near those we have seen in recent years’
Sterling’s depreciation helps Grosvenor Group post ‘better than expected’ profits despite an annual fall
Property demand has fallen to a six-year low – NAEA
Estate agency branches have fewer properties available to buy compared to last year, and buyer numbers have dropped to their lowest March level since 2013
Unsold new-build units pile up in London
A record 31,500 units under construction across the capital are unsold, reports Molior, which is nearly half of all units currently underway; demand from investors has been quelled by government measures in recent years, and ‘normal people who want somewhere to live are not buying them’
Marriott rolls out a global ‘luxury home rental initiative’
Hotel group Marriott is taking on Airbnb in the holiday lettings arena, launching a new top-end home rental platform in the United States, Europe, the Caribbean and Latin America
Lies & Statistics: On the lost art of valuing property
Portals have given vendors the ability to do their own research, but gauging the right asking price remains beyond the reach of machines, says Patrick Alvarado
Brexit’s ‘false dawn’ sparks PCL deal surge
Transactions spiked by over 18% last quarter as ‘shrewd’ buyers and investors pushed their purchases through before March 29th, reports LCP
‘We suspect house prices will rise only 1% over the year and would not be at all surprised if they stagnate’ – EY
EY’s Spring ITEM Club predicts muted property price growth ahead, with a ‘limited’ upside even if a Brexit deal is agreed. A no deal exit could see house prices fall by 5% in 2020
RICS looks to ‘clear up the home buying process’
Residential property surveys are confusing for consumers, says the Royal Institute of Chartered Surveyors, as it opens a consultation on an overhaul of the system with mandatory new standards