Format: News
Leading economists expect ‘decade-low’ mortgage growth into 2024
'As mortgage rates reach their highest since 2008, economic growth remains subdued and weakening housing market sentiment drives down demand,' says the EY ITEM Club in its latest forecast.
Prime London rental growth returns to single digits as market ‘re-balances’
There was no monthly change to average rents in either PCL or POL in October, the first time they have been flat since April 2021.
Prime London Property Market Snapshot: Week 44, 2023
There's been an upturn in new sales and rental deals across prime London in the last week, although activity remains below previous years' levels.
PCL market to avoid price falls in 2024 & see five-year growth of 18.7% – Savills
Prime Central London is a ‘buy', says agency, as latest predictions show UK's high-end markets bottoming out next year and recovering more quickly than the mainstream.
Property Industry Reactions: King’s Speech confirms leasehold reform agenda
King Charles confirms a Leasehold & Freehold Bill will go before Parliament, with a view to banning leaseholds for new houses, and increases the standard lease extension period from 90 to 990 years.
Foxtons buys Ludlow Thompson for £10mn
Foxtons continues its business acquisition drive, picking up another well-known estate agency as it expands its lettings operation across London.
New conveyancing rules promise to ‘modernise’ property exchanges
The Law Society's new draft code of practice aims 'to remove the uncertainty around exchanging contracts for commercial and residential property by allowing [conveyancers] to use new technology to conduct…
‘Weak sentiment’ hits Prime London’s sales market
October's registrations, exchanges and viewings were at similar levels to those recorded just after the ill-fated mini-Budget in 2022.
£25mn Nine Elms development site changes hands
The Wilcox Road site has planning consent for 22 new homes.
MT Finance strikes new £500mn funding deal
Additional financing through JP Morgan sets up a further push into the UK's short-term finance market.
Knight Frank launches high-profile marketing drive
'High-quality print media remains an effective part of a 360-marketing strategy', says agency, as it unveils latest 'creative direction' and rolls out major new ad campaign.
In Pictures: Grade I Georgian gem in Mayfair up for £70mn
30 Curzon Street, until recently home to one of the world's best-known casinos, is seeking new owner: could a spectacular ultra-prime resi conversion be on the table?