London
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Features
What’s going on in: Chertsey, Stokesley and East London.
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we meet members of The Guild of Professional Estate Agents in Chertsey, Stokesley and Stratford, East London.
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Latest property news
Landlords: the only way is Essex!
The east London borough of Havering offers London’s highest rental yield...
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Regional Reports
Westerham, West Bridgford and West Hampstead
This month we meet members of The Guild of Professional Estate Agents in Westerham, West Bridgford and West Hampstead.
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Latest property news
Property slowdown is a myth for majority of London
‘Normal’ neighbourhoods defy price drops, says Stirling Ackroyd.
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Latest property news
London Mayor must build homes
London business leaders have demanded that the next Mayor of London must commit to developing at least 50,000 new homes a year to help meet growing demand for housing.
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Latest property news
New £1.4billion vehicle for rented homes
The investors behind residential schemes at the Olympic Park in Stratford and Elephant & Castle have merged the developments to create a £1.4bn vehicle for rented homes. Qatari Diar Real Estate Investment Company, which is owned by the State of Qatar, property firm Delancey, and Dutch pension fund asset manager APG have merged the assets to create a new company with 4,000 homes, 1,500 of which are already built. The partnership said its ambition was to become the leading player in the delivery of homes for rent in London and other major UK cities over the next few years. The merger is conditional upon regulatory approval. All of the homes will be managed and leased through Get Living London, an existing management and letting platform. Sheikh Jassim Al-Thani, chief development officer for Europe and the Americas at Qatari Diar, said, “This merger between two leading London private rented sector schemes is the first step in what is a much larger endeavour: to significantly increase the supply of new homes in connected and affordable locations in British cities.” The private rented sector (PRS) has boomed in recent years as requirements for sizeable deposits and stricter lending criteria have made it harder…
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Latest property news
Sell your home for £1????
The average estate agency fee for selling a London home now stands at almost £9,400, according to Portico London Estate Agents, as it launches #sell4apound. Every home-seller instructing Portico as sole agent during April was entered into a prize-draw giving them a strong chance to save thousands and thousands of pounds, with the Portico fee reduced to just £1. Londoners now have to find an average £9,000 in estate agent fees to sell their London home. This is 31 times more than in the mid-Seventies when the average fee was around £298. By 1985, the figure had more than doubled to £886 and by 2005, Londoners were paying around £5,650 to estate agents to sell their home and. In 2015, this had increased 66 per cent to £9,389. Robert Nichols, Managing Director, Portico.com, said, “Clearly, selling a home is more expensive than ever. The opportunity to save thousands of pounds on estate agent fees will appeal to Londoners and we’re really pleased to offer this as we celebrate our first birthday.” Portico is also celebrating by the launch of a fixed-fee service for home sales. Every property that’s instructed between 1 April and 30 September that’s valued over £1 million…
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Latest property news
London Mayor urged to build 50,000 new homes
The next Mayor of London must commit to developing at least 50,000 new homes a year in the capital to help meet growing demand for housing, business leaders have demanded. The CBI’s London Manifesto aimed at candidates in the Election, which will be held on 5th May, insists that the successful candidate must remain firmly focussed on business growth, to ensure that the city is an attractive hub for investment, creativity, skills and tourism. Lucy Haynes, CBI London Director, said, “London’s star has continued to rise over the past few years. From setting a new standard for hosting the Olympic Games to the emergence of Tech City, the capital has shown the world it is still the best place to grow, do business and thrive. “But in an increasingly competitive global race, the next Mayor must take some tough decisions from day one for London to continue to grow and prosper, and to keep the city a magnet for investment and skills. “From building the 50,000 homes a year the capital needs to house its talented workers, and a new runway that will boost our exports to high growth markets, to making the city a global beacon for digital and…
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Agencies & People
Agents taking over London high streets
The online estate agent industry may be growing at a rapid pace but that does not mean that it is time to sound the death knell for traditional high street agents, especially in London where more than 200 new estate agency branches have opened on high streets over the past year, a new study has revealed. Despite a drop in the number of homes for sale in the capital, there was an 8.3 per cent rise in the volume of new high street branches across the city taking the total to 2,881, up from 2,661 compared to the previous year. The data compiled by Rightmove also revealed that there are now more than two branches for each of London’s 1,200 town centres, with all but one – Enfield – seeing an increase in the volume of estate agencies last year. The greatest hike in the number of high street branches was witnessed in Westminster, where the total rose by 27 per cent to 228. Islington was second with a 26 per cent increase, followed by a 16 per cent hike in Hammersmith and Fulham. Perhaps it is no coincidence that property prices in these London boroughs are among the most…
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Housing Market
Prime London market peaks
Marc Da Silva discusses the complex prime central London housing market with the UK’s leading expert in residential property research.
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