July 17, 2008

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Property performance warning from Land Securities

Permalink: Property performance warning from Land Securities
by Lin Freestone

A warning has been issued by Land Securities that the faltering economy could lead to further falls in capital values in the property sector. There has been a slight rise during the second quarter in the amount of empty property held ...

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Reorganised Ballymore wins planning approvals in East London

Permalink: Reorganised Ballymore wins planning approvals in East London
by Lin Freestone

Ballymore, an international property development and investment group, has just been granted planning permission for two major development projects in East London. A spectacular 45-storey twisting, residential tower on the former site of the London Arena in the Docklands will ...

July 16, 2008

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New Government scheme to help first-time buyers

Permalink: New Government scheme to help first-time buyers
by Kay Murchie

A new scheme announced by Housing Minister, Caroline Flint, called ‘Rent to Home Buy’ is hoped to increase housing supply and help first-time buyers get onto the property ladder. Under a pilot scheme, households earning below £60,000 per annum will be ...

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Co-marketing venture from Simplyzigzag.com

Permalink: Co-marketing venture from Simplyzigzag.com
by Lin Freestone

Simplyzigzag.com is co-marketing a new Seed Capital Investment Fund (SCIF) in an exciting new venture which is thought to be the first of its kind for an online estate agency. Launched today, the fund aims to raise £5m to provide capital for the ...

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Landlord reminder on EPC deadline

Permalink: Landlord reminder on EPC deadline
by Gill Montia

Buy-to-let lender, Paragon, is reminding landlords that they could face a £200 fine if they do not provide prospective tenants with an Energy Performance Certificate (EPC) from 1st October. Recent research by Paragon indicates that 55% of landlords are unaware of the legal ...

July 15, 2008

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Country properties experience price falls

Permalink: Country properties experience price falls
by Kay Murchie

Figures from estate agent Knight Frank have shown that prime country property prices fell 3.9% in the second quarter of 2008, this represents the fastest rate for over 10 years. This market generally attracts city professionals and the credit crunch has meant that ...

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CML announces plans to kick-start mortgage market

Permalink: CML announces plans to kick-start mortgage market
by Kay Murchie

The housing market is suffering currently due to falling house prices while the current squeeze on mortgage lending is also having a devastating affect. In a bid to kick-start the mortgage market, the Council of Mortgage Lenders (CML) has announced plans ...

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Rents set to rise up to 15% per annum

Permalink: Rents set to rise up to 15% per annum
by Gill Montia

The Association of Residential Letting Agents (ARLA) has published research entitled "The Modern UK Housing Market - Origins and Prospects", in which it predicts that rents in the private rented sector will rise significantly in the short term. ...

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Simplyzigzag presents Morrocan investment opportunity

Permalink: Simplyzigzag presents Morrocan investment opportunity
by Gill Montia

Online property firm, Simplyzigzag.com, has announced that it has become the exclusive online supplier for the Tafedna Bay Golf & Spa development, in Morocco. The development is based around an international sports arena at Tafedna, which is located on the country's west coast, ...

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Home sales plunge to 30-year low

Permalink: Home sales plunge to 30-year low
by Kay Murchie

According to figures from the Royal Institution of Chartered Surveyors (Rics), home sales have plunged to their lowest levels since surveyors started collecting records in 1978. In the three months to 30 June, estate agents said they sold an average of ...

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£20m half-year losses for St Modwen

Permalink: £20m half-year losses for St Modwen
by Lin Freestone

St Modwen Properties, the regeneration specialist, has recorded a loss of £20m for the six months to the end of May 2008. In the same six month period of 2007 the company recorded profits of £65.1m. The company, which has its ...

July 14, 2008

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Struggling homeowners extending the life of their mortgage

Permalink: Struggling homeowners extending the life of their mortgage
by Kay Murchie

According to mortgage broker John Charcol, a growing amount of homeowners are choosing to extend their mortgage term in a bid to cut their monthly payments. Rising food and fuel costs, along with soaring utility bills means that household finances ...

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Private rented sector outstrips value of commercial property

Permalink: Private rented sector outstrips value of commercial property
by Lin Freestone

A report titled ‘The Modern UK Housing Market - Origins and Prospects’ states that the value of the private rented sector in the UK, which currently stands at £500bn, now outstrips the total of all privately-owned commercial property, including ...

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Hamptons opens Monaco office

Permalink: Hamptons opens Monaco office
by Gill Montia

Estate agent Hamptons International is opening an office in Monaco, the well known tax haven and second-smallest independent state in the world. The move is a joint venture with Capital Real Estate, one of the leading residential agencies based in the principality. The new ...

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Delay for festival site plan given government approval

Permalink: Delay for festival site plan given government approval
by Lin Freestone

Plans submitted by Langtree McLean for the redevelopment of the Liverpool International Garden site have just received government approval. Planning permission had already been granted by Liverpool City Council for the £250m project for the demolition of the derelict ...

July 13, 2008

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Baydonhill Cautions Holiday Home Buyers Of Skyrocketing Euro

Permalink: Baydonhill Cautions Holiday Home Buyers Of Skyrocketing Euro
by Elisha Sanders

Figures released today spell trouble for Brits planning to buy foreign holiday houses, with the average price of a house in France or Spain rising by £26,000 to £160,000 due to the increasing strength of the Euro. Baydonhill, ...

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Stamp duty holidays for first-time buyers being considered

Permalink: Stamp duty holidays for first-time buyers being considered
by Kay Murchie

The Government is considering cutting stamp duty in a bid to kick-start the property market. The UK property market is in danger of grinding to a halt with prices falling at the fastest rate since records began over 50 years ...

July 12, 2008

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CBI sets up new Construction Council

Permalink: CBI sets up new Construction Council
by Lin Freestone

The Confederation of British Industry has announced the creation of a powerful new body to represent the construction industry. The newly formed Construction Council will bring together all sectors of the industry from consultants and civil engineers to homebuilders, contractors and manufacturers ...

July 11, 2008

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LibDems want councils to buy 150,000 unsold homes

Permalink: LibDems want councils to buy 150,000 unsold homes
by Lin Freestone

At a lecture given to the Institute for Fiscal Studies, the Liberal Democrats’ Treasury spokesman, Vince Cable, suggested that councils and social landlords should buy up to 150,000 homes on property developers' books to help shore up the housing ...

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City Lofts’ collapse will not affect residential tower development in Cardiff

Permalink: City Lofts’ collapse will not affect residential tower development in Cardiff
by Lin Freestone

City Lofts Group, the developer of urban mixed-use property schemes primarily focused on residential apartments which went into administration last week, is a development partner of Allied Developments (Europe) Limited. The two companies had been working on ...