Demand for luxury city houses falls on pre-budget caution Property Fears over potential changes to tax policy in Labour’s upcoming budget have continued to dampen the positive effects of lower interest rates on demand for prime property in London, according to new data. Buyers are nervously awaiting potential tax changes in the Government’s first budget, which has been described as assigning a “heavier burden” to [...]
Zoopla: Property portal returns to the black after cutting almost 100 jobs Property Online property portal Zoopla returned to profit during its latest financial year as its sales passed the £90m mark. Newly-filed accounts with Companies House have revealed that the business swung to a pre-tax profit of £18.7m in 2023, having reported a pre-tax loss of £6.2m in the prior 12 months. The results also show that [...]
Indian clothing tycoon who supplies Uniqlo, Decathlon and H&M buys Notting Hill home for £21m Property The owner of India’s largest clothing exporter has paid £21m for a home in Notting Hill in one of the UK’s biggest residential property deals this year. Harish Ahuja, owner and managing director of Shahi Exports, purchased the eight-storey property, which is more than 20,000 sq ft in July, according to a UK filing first [...]
Howard de Walden: Loss more than doubles at London property empire September 11, 2024 The London property empire which includes Marylebone Village and Harley Street saw its pre-tax loss more than doubled during its latest financial year. Howard de Walden Estates Holdings, which also includes some of the capital’s prime shopping areas as well as hundreds of homes, has reported a pre-tax loss of £254.2m for the year to [...]
Price of the average London home on the rise as UK demand rockets August 28, 2024 The ‘average’ London home will now set you back more than £530,000 after house prices in the capital increased for the first time since April 2023, according to figures released today. Data from Zoopla’s latest house price index revealed that London property prices were up 0.2 per cent year on year in the first seven [...]
‘Even luxury is subject to constraints’: Global prime rental growth slows August 19, 2024 After record growth in the past two years, global prime rents have cooled down to long-term levels as supply constraints start to ease and renters hit their price ceilings, according to new data. Average annual rental growth was 3.5 per cent in the 12 months to the end of June 2024, down from 7.4 per [...]
‘Magnificent’ Hyde Park penthouse on sale for £60m August 13, 2024 A £60m penthouse has gone on sale in Hyde Park in a tentative sign that the super-prime market may be turning towards bigger, more expensive homes again. The apartment, which is one of London’s biggest listings in 2024, includes “one of the largest private terraces in central London”, according to James Van Den Heule, co-founding director [...]
‘Pent-up demand’ drives jump in London prime property sales August 12, 2024 London’s super-prime market seems to following a similar track to the general market: optimism is cautiously increasing as mortgages start to come down following the Bank of England’s rate cut. The number of exchanges in London in June and July was 8.4 per cent above the five-year average, according to Knight Frank. It was a [...]
London’s prime property market looks set for a recovery under Labour July 8, 2024 A more stable political and economic situation should provide another boost, making London—and the UK as a whole—a more attractive place to live, work, and invest.