Property Consulting

House prices are plunging drastically in Australia:

House prices in capital cities are slowing at a rate which has not been seen in more 30 years, this is signalling that the property boom is coming to an end. Australian homeowners have had the upper hand, with the property market enjoying unprecedented levels of growth year-on-year, increasing by 35 per cent since mid-2020. Annual price growth has fallen from 24 per cent just six months ago to 14 per cent now. The last time house prices slowed this quickly was more than 30 years ago – at a time when Australia was heading into a recession. Houses are continuing to outperfor

Property Consulting

CURRENTLY: Property boom or bust or normal market?

The property market has weakened since the interest rate hike, which has been hitting big property investors. However, there remains large competition around the big, new houses which has meant the market has returned to a normal one. A normal market is one considered to have steady auction clearance rates around the 60 per cent mark as when the clearance rates linger around the 80 per cent mark it is seen to be unsustainable long term. The average home buyer’s disposable income and borrowing capacity is decreasing due to hikes in interest rates therefore the house prices

Property Consulting

Change is coming on climate risk due diligence for property conveyancers

The question of whether  solicitors have a legal duty of care to advise their clients on climate-related risks is being posed on at The Conveyancing Climate Change Conference on 14 June in the Law Society Common Room. Environmental and Social Governance (ESG) is now a growing area of concern for partners and fee earners.  It’s not just about how you operate ethically either – in terms of their footprint and who they give advice to (that is, whether you are planet-friendly). It’s also about how you advise clients on the impact of climate change. The geo-environmental risks

Property Consulting

London’s house prices have risen across all boroughs to hit a new record high!

House prices have risen across all boroughs this month to hit another record high, with the average asking price now standing at £677,110. This has resulted in a year on year rise of over 6% and almost a 2% rise from last month. After 2 long years of dampened interest in properties there has been a reopening of offices and cultural attractions has tempted people into buying into the city again. _________________ Will you be investing?

Property Consulting

Renewed demand for London Properties:

The property demand in the capital is back in full flow showing little signs of slowing down in the near future. Despite, the annual house price incline being the highest in year, with a whopping 10.4% across the UK, there is a 'race for space' after the pandemic. The demand for space for hybrid working environments is now crucial and are encouraging buyers to seek the opportunities as they come. The supply issues will continue to fuel the market and increase the cost of living pressures on consumers. _______________________________ Will this be sustainable?

Property Consulting

What is a property developer’s major weapon?

A step up from regenerating houses or pre-existing live - in properties is when  you take a commercial building and convert it into residential. You create more homes than with a flip, but the fundamental principles are the same. The average flip produces profits of just under £50k, whereas a small conversion project is likely to net you between £150k and £500k, depending on its size and location. The budget for commercial flips will also be ten times the size. You can afford to hire a main contractor to take care of the construction rather than a jobbing builder. The 3 b

Property Consulting

House Prices and U.K.’s hotspots are revealed.

Bath has been named the biggest property hotspot across the UK, with increased competition pushing asking prices up by more than 15% over the last year. Across the top ten city hotpots, the average increase in asking prices is 12.6%, outpacing the current national average of 9.9%. Initially, the supply of homes available kept up with some of this surge in demand, steadying asking prices. Now there is a higher demand for places like Bath, Plymouth and Truro which has led to prices increasing majorly. Competition has more than doubled in Exeter over the last year (+110%), th

Property Consulting

Female property tycoon has sailed through the property slump in China:

The property crackdown in China has meant severe losses for many property tycoons and billions of dollars being removed from them. However, Wu Yajun who is a chair real estate developer for Longfor and now is thought to have a calculated wealth of over $15 billion USD. Despite, her wealth having decreased by almost $3billion USD since 2021, it is still across China the smallest decline. This steadiness is attributed to her 'financial discipline' and management of her resources. Additionally, comments have been made suggesting Longfor would benefit from gaining market share

Property Consulting

Children’s residential care home provider to create jobs with property portfolio expansion:

A children’s residential care home provider has received a £150,000 loan to open new homes and drive recruitment. This latest funding package will support the opening of Prime Nurture Services’ (PNSL) first two homes as part of a plan to establish ten homes over the next three years. The businesses provide accommodation for those aged 8 to 18 years and support with their personal development, health, wellbeing, education, and cultural needs. _______________________ Will this expansion help the children gain their footing?

Property Consulting

Home Guarantee Scheme cap to rise to counter increasing house prices:

The House government scheme allows first time house buyers to save 5% deposit and the government then guarantees 15% to avoid lenders mortgage insurance. Economists have warned that prices are not due to decrease any time soon, so these measures are necessary. These schemes will also help first time buyers get on the market ladder. In the Coalition's budget in March the places available in the scheme were doubled to 50,000, and will stay at that number for three years before being cut to 35,000. This also includes 5,000 places for single parents who can access the scheme w