London
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Regional Reports
Belfast, North West London and Chelmsford
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Belfast, North West London and Chelmsford.
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Housing Market
Investing in the (newbuild) future
Giles Leadbetter of Hunters Land & New Homes, London, speaks to Marc Da Silva about Hunters’ new Residential Development Investment division.
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Housing Market
Housing bubble trouble in London
London has been named as the world’s riskiest for a housing bubble after fresh data revealed that the average price of a home in the capital had hit £500,000 in September, up 10 per cent year-on-year. UBS said last week that the property market in London has formed the world’s biggest residential property price bubble, based on property prices to incomes, and property prices to rents, which are both at record highs. The Swiss bank waned that the UBS Global Real Estate Bubble Index points to the risk of a “substantial price correction” in London’s property market should the fundamentals for residential property investment in the city deteriorate. The average price of a residential property in London reached £499,997 in September, according to the Land Registry, up 10 per cent on a year earlier. UBS said that London’s housing market is now the world’s least affordable, bar Hong Kong, which UBS ranks as the second-most likely city to have a property bubble. “Foreign demand (for homes in London) and demand deriving from safe-haven seekers largely explain current valuations. Global geopolitical risk and the high property valuations in Asian cities have helped to propel London house prices to new heights,” UBS…
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Housing Market
Regional round-up
Muswell Hill, located between Highgate Woods, Crouch End and Alexandra Park, has a more village-like feel compared to other London suburbs, and is very much known for its café culture. As the name suggests, much of the area is elevated, offering stunning views towards the central London skyline. Most activity in Muswell Hill centres on the Broadway, which still retains a lot of its historic Edwardian and Victorian architectural charm. It caters to many shoppers and has a great selection of independent retailers and grocery stores, including Waitrose, Marks and Spencer and Sainsbury’s. The Broadway also features well-liked restaurants such as Côte Brasserie and Carluccio’s, as well as many independent cafés, cementing Muswell Hill’s reputation. Other attractions include the historic Odeon cinema, which is situated at the end of the Broadway, and Alexandra Park, a local nature reserve. Muswell Hill has some of the best schools in the country, which is one of the main reasons why families relocate to the area. As well as families, buy-to-let investors also dominate the property market here. Grand Avenue, which showcases some of the very best of Edwardian architecture, is popular with families, while Hillfield Park, located close to the Broadway, excites many…
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Agencies & People
Exposed agents to be investigated
The National Association of Estate Agents (NAEA) has condemned the estate agents exposed in a Channel 4 documentary last week for offering to help foreign criminals launder money through high-end properties in London. Five London based estate agents were named by the Russian anti-corruption campaigner, Roman Borisovich, and Ukrainian investigative reporter, Natalia Sedletskan, posing as Boris and his girlfriend. The couple viewed five properties in the capital where agents stood to earn in the region of a reported £65,000 to £315,000 in commissions. Mark Hayward, Managing Director of National Association of Estate Agents (NAEA), said that the exposed agents had tarnished the reputation of the industry in the public eye and has now launched an investigation into the issue. Hayward (left) said, “We do not condone the behaviour of the agents in the documentary From Russia With Cash and it is regretful that a small number of negligent agents tarnish the reputation of the industry as a whole. All agents should know that they have a responsibility to report any potential money laundering activities to the National Crime Agency and failure to do so, or to enable such an action, is a criminal act. “We take a dim view…
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Housing Market
Housing policy set to dominate London Mayoral elections
The chronic shortage of residential properties in London is one of this country’s “biggest public policy failures of the last 50 years”, according Lord Bob Kerslake (right), who has been appointed Chairman of a new commission set up to help boost the supply of affordable homes in the capital. Lord Bob Kerslake, the former head of the civil service and existing Chairman of Peabody, will, along with Terrie Alafat, Chief Executive of the Chartered Institute of Housing (CIH) head up the Institute for Public Policy Research (IPPR) commission, which will also be joined by Mark Clare (left), the outgoing Chief Executive of Barratt Homes, Nick Walkley, Chief Executive of Haringey Council and Professor Rebecca Tunstall of the University of York. Lord Kerslake said the lack of housing in London, particularly affordable properties, may deter many firms from relocating to the capital, while many couples are being forced to delay having children. “This is one of the defining challenges for London,” he said. “It puts at risk London’s global status because if it becomes increasingly too expensive to live in London, why would businesses come here?” The new Commission on Affordable Housing in London, set up by the IPPR think tank,…
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Regional Reports
Devon, London and Dorset
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Devon, London and Dorset.
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Norfolk, Gwynedd and London.
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Kent, London and the Isle of Wight.
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Features
Regional round-up
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Oxfordshire, Essex & Hertfordshire and London.
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