Property Consulting

Green light ready for Mixed- Use scheme:

An application proposing the creation of a series of blocks providing both commercial and residential space could soon move forward. The application site comprises a number of blocks in commercial use, including a gym, barbers, hot food takeaways, restaurants, estate agents and nail salon. This would deliver net gains on residential units and would increase housing affordability. The approval of this scheme has been recommended and the application itself has demonstrated that it can be developed within the existing framework . _____________________________ Shou

Property Consulting

How property technology could help solve the UK’s housing crisis:

House prices have been rising without a rhyme or reason for years, however, there aren't enough properties to buy and a majority of the properties don't mee the government standard. However, the ever evolving landscape of property technology is providing digital solutions to the property and real estate scene. The average house in England is costing 9 times the amount over the average salary and so affordability is a major issue in this crisis. The spiralling price of property has encouraged entrepreneurs from proptech and fintech to come up with solutions that make ascend

Property Consulting

Australian Property companies’ earnings suffering!

Rising interest rates could prompt wave of forced sales, further hitting house prices. This has also led to new listings collapsing and sellers unwilling to reduce their prices to the level of many other companies. The real estate company, McGrath has reported an 83% drop in net profit for the next six months, due to the poor spring season. This significant drop has been predicted by reduced sale volumes. The owner of the company predicts rising house prices in 2024, and remarks on the need for a 'breather' after the rapid growth of the past 3 years. The pullback in listin

Property Consulting

Approximately 13000 companies with UK property have failed to declare owners!

These offshore companies will now be facing fines and bans on selling their land, as indicated by the government. The introduction of the new register of overseas owners of UK properties, saying it had been “invaluable for tax and revenue services, bringing transparency to opaque offshore trusts often used to obscure assets for tax purposes”. This number is approximately 40% of properties beneficial owners. There would now be further investigatory powers for Companies House and the Insolvency Service and investment of up to £20m to spend tackling money laundering through c

Property Consulting

UK industrial real estate market is plummeting!

The UK industrial property values have fallen by approximately 26% in 6 months. Since 2008, there has never been such a loss of value in such a short period of time. However, since 2022, the yields on industrial property has increased by more than 120 basis points. Quarterly rental growth remained positive for hotel, office, residential and industrial property, according to the index. A 12.8% drop in all-property capital values in the last three months of 2022 was the major drag on performance as high inflation, rising interest rates and a higher cost of capital all impact

Property Consulting

Many offshore companies with UK property are not stating real owners:

Many properties owned by offshore companies are in secretive trusts and are still not declaring their owners, however, the deadline as set by Companies House is this Tuesday. Over 2,400 companies have no public information on the register about who is behind them. Holding properties through offshore companies is legal and some individuals may have genuine and legitimate privacy or security concerns or business reasons for using them. Experts say it can be done to minimise an individual’s tax liability as the owner or buyer of a property or, until now, to allow a property t

Property Consulting

UK property funds are curbed on the withdrawals!

The withdrawal requests from some UK property fund investors are being delayed due to 'market conditions'. Now, it has been understood that the total price of facing curbs is a whopping £15 billion. Open-ended real estate funds in Britain have been battling to meet a surge in demand for redemptions against a backdrop of high inflation and economic uncertainty, as valuations come under pressure from rising interest rates. Investors who put in requests to withdraw money from the 1.7 billion pound CBRE Property Authorised Investment Fund in the third quarter will receive "aro

Property Consulting

Will mortgage costs go down in the UK?

The housing prices having fallen fourth month in a row suggests falling mortgage rates. There is also and increase in competition for providing the best rate since the cost of living, was declared a crisis. The rates are expected to hit approximately 4% in March. Currently, the average two-year fixed mortgage rate is 5.78 per cent, while the average five per cent is slightly lower at 5.61 per cent, according to the personal finance data firm Moneyfacts. Rates have decreased by 0.21 per cent since the same time last month. If it does not fall as quickly as expected then the

Property Consulting

BlackRock extends block on UK property fund redemptions

The fund manager, BlackRock has further delayed the redemptions on it UK property fund standing at £3.5bn as it is concerned about the difficult market conditions. It is a way of rebalancing its portfolio and freeing up cash for investors in the firm. Other fund managers, have all restricted withdrawals from UK property funds in the recent months. Due to rising interest rates, many benefit schemes have improved their funding positions and therefore are looking to offload properties, as they are high risk assets. The BlackRock fund has been running since 1982, their perform

Property Consulting

UK house prices fall for the fourth month in a row!

Average house prices have gone down in the longest run since 2008. The average house prices are approximately £262,068, the house price growth has also been the lowest since the middle of 2020 during the pandemic. House price growth slowed in all UK regions, particularly in south-west England, where the annual rate fell from 12.5% to 4.3% in the last quarter, while in Wales annual growth slowed from 12.1% to 4.5%. England overall recorded a rate of 4.8%, down from 9.9%, with London the weakest performing English region, as annual growth eased to 4.1% from 6.7% in the third