Virtual land prices have tumbled by an average of 66% since January, while the volume of metaverse real estate being traded has tanked by 97% from its November peak.
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The owner of estate agencies including Hamptons and John D Wood “remains positive” despite falling revenues.
High-society bank tells affluent clients that PCL is back in action.
“New residential development is being constrained by a limited supply of land coming through the planning system. In this environment, signs are already emerging that housing delivery rates could slow considerably,” warns Justin Gaze, Head of Residential Development Land at Knight Frank.
Combining the two remaining units at Alchemy’s Woolworth Tower Residences would deliver a 12,000 sq ft spread with a 400 square foot terrace overlooking the Big Apple.
After announcing his resignation from OnTheMarket earlier this week, Clive Beattie has now confirmed a move to Fine & Country’s parent company, nurtur.group.
Prime Central London’s property market recovery is taking longer than expected, says Savills, as it downgrades its forecast for this year. But PCL is still set to outpace the best-performing lockdown markets over next five years.
Today’s rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
Knight Frank’s latest international index tells of cooling housing markets around the world, including at the top end.
Vast period mansion on Phillimore Gardens is one of the finest family homes in London.