The pockets of London propping up the prime commercial property market Property The commercial prime market is, for want of a better word, doing OK. In the City, leasing increased by one per cent over its long-term average in the second quarter, while overall demand was 12 per cent below its long-term average. For a sector pummelled by downsizing amid changes to weekly working patterns, it’s not [...]
‘Even luxury is subject to constraints’: Global prime rental growth slows Property 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 [...]
Savills: Bank of Mum and Dad to pay out almost £30bn over the next three years Property First-time buyers will receive almost £30bn in financial support from their parents over the next three years as the housing ladder slips increasingly out of reach for independent young buyers. Gifts and loans from the Bank of Mum and Dad totalled £9.4bn in 2023, according to the latest analysis from property firm Savills. This figure [...]
Savills hails ‘signs of market recovery’ as half-year sales and profit rise August 8, 2024 Sales and profit increased at estate agent Savills in the first half of 2024 as both commercial and residential markets begin to show signs of recovery. The FTSE 250-listed firm has reported a five per cent rise in its revenue, from £1.011bn to £1.063bn, in the six months ended June 30. Its underlying pre-tax profit [...]
Demand for sustainable buildings drives office space take-up in London August 2, 2024 Leasing activity increased notably in the second quarter of the year, driven by financial firms and demand for sustainable office space.
Savills: ‘Maturing’ build-to-rent market needs staggering £300bn to meet demand July 9, 2024 The build-to-rent sector needs a total of £300bn of investment if it is to meet future levels of demand even after the sector has begun to emerge as "a mainstream investment in the UK", Savills has warned.
UK housebuilding could fall to half of target without intervention new report warns May 7, 2024 Uncertainty and inflation are hitting builders' output, threating government housebuilding targets.
Qatari sheikh sells Hyde Park mansion to fellow Royal for £39m May 3, 2024 Transferring a luxury property between family members could be to take advantage of tax benefits or to avoid certain taxes associated with inheritance or property ownership.
Almost 100,000 more student beds needed to meet London demand March 25, 2024 Almost 100,000 student beds are needed to meet demand in London, according to new research from Savills, the highest across all of the UK.
For sale: Mansion where Jacob Rees-Mogg grew up hits the market March 25, 2024 The mansion where Jacob Rees-Mogg grew up has been put up for sale for the third time in almost four years.