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News Tag: London

October 17, 2011

Rightmove: Asking prices up in October

by Kay Mitchell
”Rightmove:
Property website, Rightmove, has today reported a further rise in asking prices for the month of October. According to Rightmove, asking prices for residential property in England and Wales surged 2.8% in October on a monthly basis and were 1.2% higher compared with this time last year. This compares with a 0.7% monthly increase and a 1.5% annual rise last month. The property website, ...




September 28, 2011

Land Registry reports 0.3% fall in August house prices

by Kay Mitchell
”Land
According to the Land Registry, house prices fell by 0.3% in August after a 1.3% rise in July. The latest fall takes the average cost of a home to £162,347 in England and Wales. On an annual basis, meanwhile, the Registry said prices are 2.6% lower. It must be noted that the Land Registry compiles its data from completed transactions and ...




September 16, 2011

LSL: Rents reach record high in August

by Kay Mitchell
”LSL:
A survey by LSL Property Services has revealed rents in England and Wales continue to surge, with the average rent hitting a further record high last month. August represented the seventh consecutive month that the average rental cost rose. Lenders’ deposit requirements, together with unaffordable house prices has meant the rented sector has been in high demand and this has driven ...




August 19, 2011

LSL: Rents reach record high in July

by Kay Mitchell
”LSL:
A survey by LSL Property Services has revealed rents in England and Wales continue to surge, with the average rent hitting a record high last month. July represented the sixth consecutive month that the average rental cost rose. According to LSL, the average rent stands at £705 – an all-time high. However, rental costs vary across the country with London seeing ...




August 9, 2011

BRC warn of riot costs to British businesses

by Kay Mitchell
”BRC
The British Retail Consortium (BRC) has warned that the riots will cause significant harm to British businesses as they count the costs of stolen and damaged goods. The weekend riots in London have already spread to other parts of the UK and the BRC warned that retailers of all sizes had suffered damage. Prime Minister David Cameron was forced to cut ...




June 22, 2011

Research shows losses made on property since 2006

by Kay Mitchell
”Research
According to research from property website Zoopla, around 80% of properties acquired since 2006 are now worth less than their purchase price. However, 89% of homes bought since the housing market peaked in 2007 are also worth less than homeowners paid for them with the problem particularly bad in the North East. In the North East, the average property was ...




May 26, 2011

Asian buyers take interest in London property market

by Kay Mitchell
”Asian
According to Knight Frank LLP, 59% of new-build property in London has been acquired by Asian buyers in the six month period to April. This is up from 48% a year earlier as buyers seek alternatives from rocketing property prices in China and Singapore. The estate agent said Asian buyers are taking advantage of the weakness of the pound after acquiring ...




April 12, 2011

Housing market remains subdued, say surveyors

by Kay Mitchell
Housing market remains subdued, say surveyors
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remained weak last month. The Institution’s March monthly survey revealed sales and prices were flat, while interest from prospective buyers was waning. However, London appears to be bucking the trend with house prices in the capital rising for a second consecutive month. In the meantime, the Midlands and the North ...




March 28, 2011

Land Registry reports 0.8% fall in February house prices

by Kay Mitchell
Land Registry reports 0.8% fall in February house prices
According to the Land Registry, house prices fell by 0.8% in February compared with January, putting the average cost of a home at £162,215 in England and Wales. However, on an annual basis, the Registry said prices fell by 1.7% in February. It must be noted that the Land Registry compiles its data from completed transactions and therefore lags behind ...




March 8, 2011

Rics: Housing market remains subdued

by Kay Mitchell
Rics: Housing market remains subdued
The Royal Institution of Chartered Surveyors (Rics) has today revealed the UK housing market remains weak. However, it appears house price falls are easing. While prices in England and Wales continued to fall last month, it was at the slowest pace since last summer. The Rics revealed 26% more surveyors reported house price falls than gains in February, from 31% in January - better ...




December 20, 2010

JP Morgan acquires London HQ from Lehman

by Kay Mitchell
’JP
US banking giant JP Morgan has acquired the former Lehman Brothers building in London’s Canary Wharf and it is set to become the bank’s new European headquarters. The 1.1m square feet tower, located at 25 Bank Street, has been bought by JP Morgan for £495 million, and will put an end to speculation that the US bank was looking to relocate ...




November 22, 2010

Chancellor Osborne has a change of heart re bankers‘ bonuses

by Kay Mitchell
”Chancellor
Chancellor George Osborne has had a rethink with regard to bankers’ bonuses, suggesting he may abandon the requirement for British banks to disclose the number of employees earning more than £1 million. The requirement for banks to disclose bonuses and salary payments over £1 million was brought in by former Chancellor Alistair Darling last year. The turnaround comes ...




October 25, 2010

Firefighters to strike on Nov 5

by Kay Mitchell
”Firefighters
It has emerged this evening that thousands of London firefighters will strike on Bonfire Night in a dispute over new contracts, their union has announced. The strike, which will take place from 10am on November 5 to 9am on November 7, incorporates Bonfire Night - the fire service’s busiest period. The Fire Brigades Union (FBU) general secretary, Matt Wrack, said: "We do ...




October 24, 2010

Lloyds shareholders in protest meeting over HBOS takeover

by Kay Mitchell
”Lloyds
The group, Lloyds Action Now, has been holding protest meetings after the group claims their savings were wiped out following the Lloyds Banking Group’s merger with HBOS. Lloyds TSB’s controversial takeover of HBOS took place at the height of the financial crisis and the group was renamed Lloyds Banking Group. The shareholder group, which was established last year, claim investors were ...




October 3, 2010

Global stock markets experience strong September

by Kay Mitchell
Global stock markets experience strong September
Stock markets throughout the world improved during September with Wall Street experiencing its biggest September recovery since the start of the Second World War - more than seven decades ago. The S&P 500 was up almost 9% during the month, while the Dow Jones gained 7.7%. Increases like this have not been seen since September 1939 - when the Dow Jones surged by ...




September 29, 2010

HSBC headquarters to remain in London

by Kay Mitchell
’HSBC
Despite speculation that banking giant HSBC would consider moving its UK headquarters, outgoing chairman, Stephen Green, has confirmed the bank will stay in London. The bank, which is Europe’s biggest, has a significant presence in Asia, which has led many to believe the bank would one day move its headquarters to Hong Kong. “Our policy will remain committed to building up our ...




September 28, 2010

Land Registry: house prices up 0.3%

by Gill Montia
”Land
The Land Registry's latest house price index shows the average cost of a home in England and Wales rising by 0.3% in August. Having seen the fifth consecutive monthly increase, the value of the average home stood at £167,423, although on an annual basis the typical house price gain fell slightly compared with July, to 6.7%. The West Midlands experienced the greatest monthly ...




September 21, 2010

London’s New Bond Street is Europe’s most expensive retail location

by Kay Mitchell
London’s New Bond Street is Europe’s most expensive retail location
A report by property firm Cushman & Wakefield has revealed New Bond Street in London is Europe’s most expensive retail location with rates soaring by 19.4% on year. Store rents grew to £536 per square foot per year, higher than those on Paris' Avenue des Champs-Elysees. New Bond Street is home to exclusive brands such as Armani and it ...




August 31, 2010

Land Registry: house price growth strongest this year

by Gill Montia
”Land
The Land Registry has reported that house prices in England and Wales increased by 0.4% in July, with growth at its strongest since the start of the year. The rise took the average value of a home to £166,798 but left annual growth at 6.7%, down from 8.4% in June. Data for London show monthly growth of 1.6%, with the typical ...




August 5, 2010

Leeds launches 2.55% instant access saver

by David Masters
Leeds launches 2.55% instant access saver
Leeds Building Society has launched a new instant access account paying interest at 2.55%. The headline rate includes a 0.5% bonus until August 2011. The account, known as the London Instant Access Account, is only available through the building society's London branch. Savers can open the account with a minimum investment of £100, and are not required to open any other accounts with Leeds. "Our ...