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UK property sales are heading for their best year since before the financial crisis, according to mortgage broker John Charcol. The number of homes bought and sold is set to reach 1.4m this year - the highest number since 2007. A monthly record was smashed in June as sellers took advantage of the stamp duty holiday. The reduction will be phased out by October. Ray Boulger, a senior manager at John Charcol, said the bounceback in the housing market this year has been so strong that there were more than double the number of transactions in the first half of last year. |
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The Mail on Sunday (01/08/2021) |
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The number of new home registrations jumped to a 14-year high in the second quarter of 2021, according to the National House Building Council (NHBC). Across the UK, 46,452 new homes were registered in the second quarter of 2021, marking the highest quarterly total since the third quarter of 2007. Builders register homes with the NHBC before work starts, so the figures indicate the supply of homes in the pipeline. The NHBC said it has seen extraordinary growth since the second quarter of 2020 when lockdown restrictions saw work on many sites halted, with registrations now up by 130%. |
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The Independent (02/08./2021) |
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Homeowners have cashed in on house price growth by freeing up money when remortgaging to buy another property. The proportion of borrowers releasing equity from their homes when remortgaging has increased in the last year, according to UK Finance. Borrowers took out extra money in 57% of remortgage cases in March. And a common reason for withdrawing a sizeable sum had been to purchase another home, a UK Finance spokesman said. This included buying a buy-to-let property, second home or a gift for family members. "A mixture of the stamp duty holiday and changing patterns of living and working have fuelled these trends, whether this is for owner-occupied, holiday or rental property," he added. |
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The Daily Telegraph (30/07/2021) |
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Swiss architectural firm Herzog & de Meuron has released new photos of One Park Drive, a 58-story cylindrical residential tower in the Canary Wharf neighbourhood. It contains 484 apartment units, with 22 floors of stepped one- and two-bedroom apartments atop a rounded base which houses 9 floors of curving balcony-lined apartments and an arrangement of amenities including a built-in library and cinema space. Another 25 floors of larger apartments top out the building with balconies included. Seven duplex apartments will be installed on the top two floors later this year. The tower will anchor a new waterfront park that bookends the Wood Wharf section of the Canary Wharf Estate development currently overseen by the newly-appointed Shobi Khan. |
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Archinect (27/07/2021) |
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Prime inner-London rents and house prices have plummeted since the start of the COVID crisis, driven by the dwindling appeal of city life during lockdown and restrictions on international travel. Average prices per square foot have been hit the hardest in Knightsbridge, dropping to £1,546 in the first half of 2021, down 11% on the area’s five-year average. However, the number of flats sold peaked at a five-year high during the six-month period, as buyers rushed to lock-in tax savings before the end of the stamp duty holiday. Experts warn the bargain will be short-lived and property prices in the area, which has historically been popular among foreign buyers, will rebound when border restrictions are lifted. |
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The Daily Telegraph (26/07/2021) |
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Construction leaders believe the shortage of raw materials could remain an issue into next year as demand for works remains high amid restrictions in supply due to Brexit and disruption in Chinese ports and on the Suez Canal. Brian Berry, chief executive of the Federation of Master Builders, said: “The national building materials shortage is harming Britain’s local builders and their ability to recover from the pandemic." |
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The Daily Telegraph (26/07/2021) |