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30th December 2016
Halifax has forecast that house prices will edge higher still in the new year but the rate of growth will slow as household spending is squeezed. By the end of 2017, the bank expects annual house price growth across the UK to be running between 1 and 4%, compared to the annual rise of 10% seen in March this year A separate survey of 48 leading economists by the Times also predicts London house prices will flatline or contract in 2017 as slowing growth and higher inflation eat into household incomes. Outside the capital, prices are expected to continue to climb, albeit at a slower rate. The average price rise forecast comes in at over 3%.
The Independent (28/12/2016) The Times (28/12/2016)
30th December 2016
Airbnb figures suggest Londoners will make £17m this New Year's eve, with 2m people expected to find beds making for a 1,400-fold rise from New Year's Eve in 2009. London is the second-most popular location for Airbnb guests, after New York, whose hosts are expected to make £26m, but is still ahead of Paris, Tokyo and Rome.
City AM (29/12/2016)
23rd December 2016
The Nationwide Pension Fund has acquired the ground rents on a portfolio of some of London’s highest-profile residential schemes, including Wardian London in Canary Wharf, and the second phase of the “mini-Mahattan” London City Island development on the Leamouth Peninsula. The second phase of Embassy Gardens in Nine Elms is also included. The deal, which covers more than 2,500 units across the three sites, will generate rents worth over £1.6m per year to the pension fund.
Property Week (16/12/2016)
23rd December 2016
Following complaints that a 42-storey building in Stratford has damaged the view of St Paul’s cathedral from King Henry's Mound in Richmond Park, London Mayor Sadiq Khan has proposed greater protection for such views. With London boroughs several miles from St Paul's not currently required to hold public consultations on the impact of new buildings on protected views, Mr Khan said: “Consideration is to be given to including more distant boroughs to prevent this happening again”.
The Times (19/12/2016)
23rd December 2016
Nationwide Building Society has said house price growth is likely to slow to around 2% next year due to Brexit-related uncertainty. Nationwide's chief economist, Robert Gardner, said a small gain is more likely than an overall decline in values as “low interest rates are expected to help underpin demand while a shortage of homes on the market will continue to provide support.” Nationwide’s latest measure of house prices showed a 4.6% year-on-year rise in house prices in the 12 months to October.
Daily Mail (19/12/2016)
23rd December 2016
Beijing has topped the latest Schroders Global Cities Index rising, from its previous fourth place. It was followed by fellow Chinese cities Shanghai, Shenzhen and Tianjin, with New York making up the top five. The index ranks cities according to their future prospects and desirability of real estate. London is the only city outside China and the US to make it into the top 10, jumping two places to number eight. This was partly down to the combination of high demand alongside Green Belt planning rules that limit supply and increase the value of existing real estate, Schroders Global Cities Real Estate noted.
Daily Mail (16/12/2016)