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Kensington and Chelsea Are Planning a Property Portfolio
Business, Money, Legal & Jobs

Kensington and Chelsea Are Planning a Property Portfolio

The council of Kensington and Chelsea are planning to launch a property portfolio worth over £220 million, divesting from shares held by the borough’s pension fund. The borough councillors have approved a strategy to increase property investment to 20% of the council’s £1.1 billion pension fund, up from the current investment of just 5%. The new proposal would see the council divest from its global share portfolio by 9%, and utilise £78 million in cash in order to create the…

Ideal Flatmate Platform Keeps Growing
Residential

Ideal Flatmate Platform Keeps Growing

Ideal Flatmate, the UK’s first flatmate matching site, has seen rapid growth over the past 12 months, passing £1 million in seed funding. It is now experiencing 2,000 properties being uploaded each month by landlords and letting agents with rooms to fill. It also attracts more than 150,000 visitors each month, with flat hunters searching for rooms and looking to ‘buddy up’ using it’s matchmaking tool. The funding will allow Ideal Flatmate to accelerate its business plan, fast-track its recruitment…

Flat Prices Increase
Business, Money, Legal & Jobs

Flat Prices Increase

A new research from Halifax shows that over the last five years the average price of a flat in the UK has risen by £75,074, equivalent to £1,251 per month. Despite their drop in popularity, the average price of a flat has grown from £157,061 in 2013 to £232,135 in 2018; accounting for 15% of all home sales. Although last year six in every 10 property sales were either terraced or semi-detached properties, flats prices have still increased in value…

The housing and building sectors are under great scrutiny in 2018, but the future appears bright. Considering that the Government Construction Strategy promises to boost productivity in government construction, and the pledge to build one million homes in the UK by 2020
Architecture & Design

How garden villages will impact industries and societies around the UK

The housing and building sectors are under great scrutiny in 2018, but the future appears bright. Considering that the Government Construction Strategy promises to boost productivity in government construction, and the pledge to build one million homes in the UK by 2020, we should expect any housing issues to ease in the years to come. But what methods and projects are being adopted to achieve these pledges and promises? One project in the pipeline that could help boost building figures…

New Social Homes in London
Residential

New Social Homes in London

The Mayor of London, Sadiq Khan, has announced a special funding programme that will bring 10,000 new homes in the capital over the next four years. In what will be the first ever City Hall programme dedicated to supporting council housing, the funds will be taken from the £1.67 billion Khan secured from the Government in the Spring Statement to help increase dramatically London’s rate of council home building. “I grew up on a council estate and I know first-hand…

New Research on Home Renovation and Redecoration
Residential

New Research on Home Renovation and Redecoration

A research from Direct Line Home Insurance found that approximately half a million homeowners in the UK go over budget when redecorating or renovating their home each year, especially younger people. They underestimate the cost of it by around £3.4 billion. Home owners also spend an average of £7,427 more than they expected, which is 278% over budget. While regionally, Londoners are the most likely to overspend, as they put aside just £6,278 but end up paying out £11,128 to…

Interest-Only Mortgage Lowered Since 2012
Business, Money, Legal & Jobs

Interest-Only Mortgage Lowered Since 2012

The UK Finance figures show that in the past six years the number of interest-only mortgages has almost halved, down 46% since 2012 to 1.7 million outstanding mortgages. The total value of the interest-only mortgage book is £250 billion, down 37% in the same period. At the end of 2017, there were 1,293,000 pure interest-only mortgages outstanding, a 14.9% fall over the last year, alongside 429,000 partial mortgages outstanding, a 2.1% rise. The number of interest-only loans at over 75%…

Yorkshire and the Humber a BTL Hotspot
Residential

Yorkshire and the Humber a BTL Hotspot

A survey led by Knight Knox, residential property experts, looked at the responses of 500 landlords in the UK and found that the majority of buy to let landlord with properties in Yorkshire and Humberside are feeling positive about the future of the rental market, with many thinking about buying more properties to rent in the future. The respondents with properties in the Yorkshire and Humberside region said they intend to buy another buy to let property in the next…

Leeds Building to Become Yorkshire's Finest Working Environment
Planning & Developments

Leeds Building to Become Yorkshire’s Finest Working Environment

Knight Frank in Leeds is working with a high-quality project team that includes GMI Construction, Richard Boothroyd Associates and DLG Architects to create the perfect working and leisure environment for Yorkshire law firm, Walker Morris. The 76,000 sq ft building on 33 Wellington Street in Leeds is on a 15 year lease, the largest pre-let office deal in Leeds in 15 years. “The property is a flagship office building in a superb city centre location and it is fitting it…

London Is Europe's No.1 Proptech City
Business, Money, Legal & Jobs

London Is Europe’s No.1 Proptech City

Research from legal practice Osborne Clarke shows that London is the best city in Europe when it comes to the usage of technology, the so-called proptech, in the property sector. The survey of technology experts from across Europe found that 42% of them think London is the leading city for proptech, followed by Amsterdam, Berlin, Paris and Stockholm. “The UK capital has a long, successful history with the property market, attracting developers, investors and landlords from all over the world”,…