United Kingdom - Real Estate

Re: United Kingdom - Real Estate

Postby winston » Mon Oct 17, 2016 7:40 pm

London Is Becoming the U.K.’s Laggard in the Housing Market

by Fergal O'Brien

Annual house-price inflation of 2.5% is second worst in U.K.
Asking prices in the capital more than twice national average

On the month, asking prices in London rose 2.4 percent in October, and prices nationally increased 0.9 percent.

The surge in London is due to the return to the market of owners of more expensive properties, according to Shipside.

“Without that boost, London might well have been bottom of the price-rise pile,” he said.


Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... ing-market
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Re: United Kingdom - Real Estate

Postby winston » Wed Oct 26, 2016 8:05 pm

London House Prices Forecast to Plunge as Brexit Chokes Market

by Lucy Meakin

Property prices in U.K. capital to fall 5.6% next year: Cebr
Inflation, unemployment, migration curbs may weigh on market

Accelerating inflation, increasing unemployment and slowing business investment are all set to weigh on house prices, while curbs on migration and a retreat from the single market could slow demand from international buyers


Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... kes-market
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Re: United Kingdom - Real Estate

Postby winston » Thu Nov 03, 2016 7:57 am

Four reasons Asian property investors shouldn’t desert London

London property still a good pick for Asian investors amid Brexit and pound concerns, new report claims

U.K. set to be out of the EU by 2019


A supply shortfall

The majority of undersupply was in London’s outer suburbs and while developers have allotted forthcoming stock over the medium term, that still won’t be sufficient to close the gap, it continued.

Government figures suggest an annual shortfall of 20,000 - 25,000 housing units per year until 2020.


Source: SCMP

http://www.scmp.com/property/internatio ... ert-london
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Re: United Kingdom - Real Estate

Postby winston » Sat Nov 05, 2016 8:10 am

To sell or to buy, that is the question

BY THEAN LEE CHENG

The segment of the residential market priced just below £1mil and above had been impacted even before the June 23 referendum due to the rise in stamp duty in 2014 and again in 2015.

The second round of increase in 2015 took effect on April 1, 2016 as part of the British Government’s policies to restrict market growth to reduce speculative buying.


At a session with the press, UK Savills Director for development, Tim Whitmey, said he does not expect to see growth in the residential market in 2017 and 2018, with possibly some growth in 2019.


“Brexit - or Britain leaving its trading partner of some 40 years - means the role of London has changed,” he says. These changes will continue for the next few years and along the way, they will be volatilities.”

There will be changes in immigration policy. The European population will not have the ease of entry as before, and vice versa. This means the flow of people, trade and a whole slew of everything - both ways - will be reduced. There will be less demand for property and the overall rental market will be affected, particularly when industries shift to other countries, he says.

The second fundament is passporting rights - the freedom of entry and exit - are expected to come to an end. These are the two most significant parts of the whole issue.




Source: The Star

http://www.thestar.com.my/business/busi ... -question/
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Re: United Kingdom - Real Estate

Postby winston » Mon Dec 12, 2016 9:45 pm

London House Prices Are Having Their Worst December in Years

by Fergal O'Brien

Weakness in housing market led by prime areas of the capital
Rightmove forecasts declines will continue into 2017

Rightmove said on Monday that asking prices fell 4.3 percent from November to 616,160 pounds ($775,500), with inner London dropping 6 percent.

The property website operator said the bubble in prime London “continues to deflate,” and it sees prices there declining 5 percent next year.


In a sign of the disparity within the city, average prices in inner London are down 2.6 percent over the past year, whereas outer areas are up 2.7 percent.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... ces-plunge
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Re: United Kingdom - Real Estate

Postby winston » Wed Dec 14, 2016 6:47 am

Prime districts in London suffer sharp price drops as investors hang back

Brexit vote among factors leading investors to steer clear of big-ticket purchases putting damper on values in upmarket areas

Rightmove said asking prices fell 4.3 per cent from November to £616,160 (HK$6.03 million) this month, with inner London dropping 6 per cent.

The property website operator said the bubble in prime London “continues to deflate” and it sees prices there declining 5 per cent next year.


Source: SCMP

http://www.scmp.com/property/internatio ... -investors
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Re: United Kingdom - Real Estate

Postby winston » Thu Dec 29, 2016 6:22 pm

London property: Buyers from China and Hong Kong continue to acquire assets despite Brexit

This is in contrast to other international investors, who have stayed away from London amid Brexit.

By Kedar Grandhi

The Chinese investments are said to be prompted by the decline in the Renminbi and fears of greater capital controls

It seems buyers from China and Hong Kong are unaffected by the uncertainty caused by the UK's decision to leave the European Union as they continue to purchase properties in London.

This is in contrast to other international real estate investors, who are said to have stayed away from the London property market post the Brexit vote. While, this has caused less than half year-on-year decline in investment flows into London's commercial property market, the purchases by Chinese and Hong Kong based buyers is said to have offset this decline to a certain extent.

UK commercial property market improves but London and Scotland lag behind, Rics says
UBS: London property is in bubble territory and at 'risk of a substantial price correction'
Optimism among the UK's businesses rebounds to an 18 month high, Deloitte CFO Survey shows

Speaking on the same, Peter MacColl of Knight Frank said there was a "surge of Chinese money" into the UK property market. The head of global capital markets at the London-based property consultancy added that the Chinese investment was coming in from different type of investors including, state-owned enterprises, corporations and ultra-wealthy individuals.

These Chinese investments are said to be part of a broader capital outflow from the Asian country. It is said to be propelled by the decline in its national currency, the Renminbi, and fears that the Chinese Government will introduce greater capital controls in the future. "You've got a pressure on the Chinese to get their money out before it becomes worth less," MacColl said.

Among other international locations, London is said to have attracted these investments amid the post referendum fall in the value of the pound which has made it cheaper to buy properties in the UK capital.

This is said to have further ensured a good return on investment with London being considered as a place of steady rental income. "Four or five per cent, which is now the net yield in the City on prime buildings, is a very acceptable level of return compared to what they can get elsewhere," MacColl added.

Chris Brett, head of international capital markets at CBRE added that investment into London properties from Hong Kong buyers equalled to that from China. "At the moment, there is about £4.5bn [$5.51bn] of live equity targeting London from Hong Kong investors...It's the most activity we see from any international buyers," Brett was quoted as saying by the Financial Times.

While Hong Kong companies are not subject to China's capital controls, they too are said to be considering diversifying beyond their home geography amid the impact of China's market instability.

Examples of recent purchases from buyers of these regions include the acquisition of 30 Crown Place, the City headquarters of the law firm Pinsent Masons, by Beijing Capital Development Holdings. The Chinese state-owned group is said to have offered more than £200m for the same.

Source: IB Times

http://www.ibtimes.co.uk/london-propert ... it-1598485
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Re: United Kingdom - Real Estate

Postby winston » Thu Mar 02, 2017 8:51 am

London home price cuts spread as market stagnates

London home prices have surged about 86% since 2009, meaning it now costs buyers 14.2 times their annual gross salary to purchase a property, the highest level on record and more than double the rate for the UK as a whole, according to Hometrack.


As a result, the number of mortgages advanced to first-time buyers in London has dropped 12% in the two years through September, data compiled by the Council of Mortgage Lenders show.


Source: The Star

http://www.thestar.com.my/business/busi ... stagnates/
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Re: United Kingdom - Real Estate

Postby winston » Mon Apr 24, 2017 6:37 pm

London House Prices Post Biggest Annual Decline in Eight Years

by Scott Hamilton

April asking values decrease 1.5% y/y, Rightmove says
Central areas leading the drop as high prices put off buyers

More expensive homes are suffering the most as London’s inner areas posted a 4.2 percent annual decline, while prices in its cheaper outer suburbs were up 1.7 percent.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... gn=markets
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Re: United Kingdom - Real Estate

Postby winston » Wed Apr 26, 2017 6:43 pm

Banks Get Serious About Moving Jobs to Frankfurt as Brexit Looms

by Stephan Kahl

London could lose 10,000 banking jobs and 20,000 financial-services positions as clients move assets out of the U.K. after Brexit, according to the Bruegel think tank.

Other estimates range from 4,000 to 232,000 jobs.


Source: Bloomberg

https://www.bloomberg.com/news/articles ... gn=markets
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