Category Archives: Real Estate

‘Geopolitical uncertainties’ amid Iran war could slow fall in mortgage rates, says Halifax

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UK house price growth slowed in February as value of typical home rose 0.3% to £301,151

Halifax has warned that the US-Israel war on Iran could slow mortgage rate decreases this year, as it said that house price growth eased dramatically in February.

Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – said the conflict in the Middle East was likely to affect global economies, stoke inflation and reduce the likely rate of interest rate cuts that influence borrowing costs for homebuyers.

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UK house prices rise in February as chancellor avoids ‘negative speculation’

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Rachel Reeves’ upcoming spring forecast has not led to slowdown, as property tax rumours did in November

House prices in the UK increased in February as Rachel Reeves avoided a repeat of the pre-budget “negative speculation” that depressed the market, as she prepares to present the spring forecast on Tuesday.

The average price of a home rose to £273,176 last month, up by 0.3% from the month before, Nationwide said. It matched January’s monthly increase, and was above analysts’ forecasts of a 0.2% gain. The annual growth rate remained steady at 1%, the country’s biggest building society said.

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Asking prices fall as UK housing market hit by budget speculation, Rightmove says

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November drop of 1.8% is biggest for this time of year since 2012, with chancellor’s plans looming

Budget speculation has depressed the UK property market, figures from a leading property website have suggested, with asking prices slipping in the run-up to Rachel Reeves’s much anticipated fiscal set piece on 26 November.

The average new seller asking price fell by 1.8%, or £6,589, month on month in November, the figures collated by the property website Rightmove set out, taking the average price tag on a British home put up for sale to £364,833.

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Growth in global demand for ‘green’ office buildings slows amid Trump policies

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Fall reported by Royal Institution of Chartered Surveyors as UN calls for accelerated action in buildings sector to meet global climate goals

The growth in global demand for “green” office buildings has slowed after Donald Trump’s assault on environmental protection policies caused a slump in interest in the US, according to a survey of construction industry professionals.

Building occupiers and investors across North America and South America expressed significantly lower growth in demand for green commercial buildings, a shift that “seems to be in response to a change in US policy focus”, according to a survey of members of the Royal Institution of Chartered Surveyors (Rics). Reported demand across the rest of the world also fell, albeit not as sharply.

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Lucy Powell urged ministers to rethink legal action against Labour donor’s firm

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Exclusive: Intervention by deputy leadership contender could have saved company based in her Manchester constituency millions

Lucy Powell urged ministers to reconsider costly legal proceedings against a property development firm in her constituency founded by a Labour donor, in a move that could have saved his company millions, the Guardian can disclose.

Powell, who is the favourite to be elected Labour’s deputy leader this week, wrote to Angela Rayner on behalf of Urban Splash, a property developer in Manchester founded by party donor Tom Bloxham.

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Generational shift as millennials make up half of new buy-to-let investors in England and Wales

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Surprise finding by Hamptons shows age group comprises 50% of all new shareholders in firms set up this year

Millennials now account for half of new buy-to-let investors in England and Wales, signalling a generational shift in landlords, while rents have dipped, according to a report.

It is a surprise finding, as many millennials – people born between 1981 and 1996 – have struggled to afford a housing purchase, which means they are less likely than older generations to own their home. Even so, some have clearly fared better, and millennials are leading the charge in buy-to-let investment, according to analysis of Companies House data by the estate agent Hamptons.

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London homes 500 metres from station ‘command £42,700 premium over those 1,500 metres away’

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Nationwide survey in London, Manchester and Glasgow shows pandemic trends may be reversing as more people return to office

People buying homes in London 500 metres from a tube or railway station pay £42,700 more than buyers of similar properties 1,500 metres away from transport hubs, according to new data.

The figures indicate that despite the reshaping of the housing market sparked by the coronavirus pandemic and dramatic changes to working patterns, the traditional estate agent mantra of “good transport links” continues to wield its power over buyers.

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Londoners buying lowest share of property outside capital since 2013

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Stalling house prices and shift back to office working are affecting people’s ability to move out of city, say experts

Londoners are buying the lowest share of houses outside the capital in more than a decade as their moving plans are curtailed by a stalling local market and the shift back to office working.

They were behind just 5.3% of house purchases elsewhere in the country in the first seven months of this year, the lowest proportion since 2013, research has found.

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Bidding battle for NHS landlord Assura intensifies as watchdog steps up investigation

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US suitor KKR lobbies board to accept offer to take Assura private as CMA looks into £1.79bn offer by rival UK investor

The bidding battle for the NHS landlord Assura has heated up after its US suitor KKR lobbied the board to accept its offer, while the competition watchdog stepped up its investigation of Assura’s £1.7bn takeover by a rival UK healthcare investor.

Primary Health Properties (PHP), which invests in buildings housing GP practices, has been blocked from fully integrating Assura by the Competition and Markets Authority while it looks into the takeover.

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New mortgage affordability rules help UK housing market avoid summer lull

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Record number of homes for sale has created ‘buyer’s market’ and kept price rises in check, Zoopla report says

The typical summer lull in Britain’s housing market has been avoided amid the availability of bigger home loans fuelling a “buyer’s market”, according to a property website.

Despite the signs of a bustling market, Zoopla said it had halved its house price forecast for 2025 as buyers were taking into account increased stamp duty costs in their offers in England and Northern Ireland.

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Average UK house asking price registers steepest monthly drop for 20 years

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Rightmove blames the 1.2% fall in new sellers’ prices on the end of stamp duty discounts and more homes coming on to the market

The average price of homes coming up for sale dropped by the largest monthly amount in more than 20 years in July, according to a property website, after the end of temporary cuts to stamp duty, and recent increases in council tax on second homes.

The average price being asked by new sellers fell by 1.2%, or £4,531, in July compared with a month earlier, to £373,709.

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Bangladeshis linked to Hasina regime appear to have made UK property transactions in past year

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Call for asset freezes after figures under investigation in Dhaka employed services of UK law firms and consultants

By the time Bangladesh’s student-led revolution finally toppled Sheikh Hasina, her security forces had already spilled the blood of hundreds of protesters.

Now, almost a year after the country’s autocratic leader fled the former British colony into exile, an interim government is struggling to navigate bitter factional politics and economic turmoil.

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First-time buyers turn from rural areas to Britain’s regional cities

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Number looking to move to urban centres up 16% in first five months of 2025 compared with same period in 2015

With the rise of home working and surging house prices in many urban areas, one might have assumed that British cities had lost some of their appeal to homebuyers over the past decade, but it turns out the opposite is the case.

An analysis of the first five months of this year shows the number of would-be first-time buyers in Great Britain looking to move to cities is up by 16% on average compared with the same period in 2015.

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UK mortgage guarantee scheme due to end with no news on replacement

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More than 53,000 mortgages have been completed using scheme, which encourages lenders to offer up to 95% loans

A government scheme to encourage UK lenders to offer 95% mortgages is scheduled to end this month, with no word yet on when its replacement will be launched.

The mortgage guarantee scheme went live in April 2021 to help buyers with small deposits get on the property ladder.

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NCA freezes £90m of London property linked to former Bangladesh regime

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Two men linked to Sheikh Hasina prevented from selling properties, including apartments in Grosvenor Square

The UK’s serious and organised crime agency has frozen almost £90m of luxury London property belonging to two men linked to the deposed ruler of Bangladesh.

In a development that comes after mounting pressure on the UK to assist Bangladesh in tracing assets linked to the former regime, the National Crime Agency (NCA) obtained nine freezing orders, official records show.

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‘People love being here’: London development shows harmony between nature and housing

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Five thousand new homes alongside a paradise for newts appears to fly in face of government’s ‘false wedge’

Arriving at the Kidbrooke Village housing development in Greenwich on a morning in early spring, the first thing you notice is the sound of birdsong and the scent of blossom. Geese are gently honking in the distance.

This was once the Ferrier estate, a postwar housing estate that was demolished in 2009 to regenerate the area.

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Australian house prices hit new peak as rate cut drives buyer demand

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Tougher conditions for first home buyers – and renters, who are now often spending more than those with mortgages

National home prices hit a new peak in March as February’s rate cut reignited buyer demand, according to separate reports from Australia’s leading property analytics companies.

Property values increased 0.4% over the month – the second consecutive month of growth in the national index, CoreLogic reported, after a brief three-month decline where values dipped 0.5%.

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UK house prices fall unexpectedly, says Halifax

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Average property price dips to £298,602 in February despite analysts expecting rush before stamp duty rises

UK house prices unexpectedly fell last month as concerns over the sluggish economy outweighed an anticipated rush of people trying to complete purchases before stamp duty increases in April.

The average property price dipped by 0.1% in February to £298,602, having hit a record high in January, according to Halifax.

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Foxtons boss says firm has ‘more to do’ on workplace culture

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Comments follow report alleging that estate agency company’s junior staff faced inappropriate behaviour

The chief executive of Foxtons has admitted that the company has “more to do” on workplace culture, after a report alleging that junior employees at the real estate agent had faced unwanted touching and other forms of harassment.

Guy Gittins, who started his career at Foxtons in 2002 and returned as chief executive three years ago, said that the company remained “steadfast in our commitment to an inclusive, professional and respectful culture”, as it reported its full-year results for 2024.

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A Silicon Valley nudist resort is on sale for $30m – but will its new owner ‘go textile’?

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Members are in limbo as Lupin Lodge is on the market after nearly 90 years – with next buyer likely to require clothes

After nearly 90 years as a historic nudist resort, California’s Lupin Lodge is up for sale – and its next owners are likely to require guests to wear clothes.

The 112-acre Silicon Valley property became a retreat for members of the “naturist” movement in 1935. Today, its hundreds of members enjoy the resort’s clothing-optional hiking trails, pickleball court and its nude-only community pool. (Yes: the members really do hike naked.)

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