PrimeResi.com - Editorial Highlights

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NEWS: THE MARKET Appetite for Construction: New house building starts up by a fifth There’s been no change in the number of new house building starts over the last quarter, although the number’s up by nearly a fifth year-on-year, according to the latest Government stats. Q The Big Summer Sale: Record drop in August asking prices The average asking price of newly-marketed property across England and Wales is down by 2.9% this month compared to last, according to Rightmove. Q Resi yields drop but investor activity accelerates The pace of growth for residential investments slowed up in Q2, leaving capital values 15.9% up on the year, says Cluttons. Q ‘The financial crisis no longer dominates the fortunes of the prime London residential market’ A looming General Election and expectations of an interest rate rise have eclipsed the global economic meltdown as the primary factors affecting the top end of London’s property market, says Knight Frank.Q London house prices have risen by 19.3% in the last 12 months - ONS While still strong, the pace of annual house price growth in the UK has dropped a smidge, from +10.4% in the year to May to +10.2% in the year to June 2014, according to the latest batch of stats from the ONS. Q Read these stories and more in full at www.PrimeResi.com/news House price expectations ‘substantially lower’ than May’s high point “The price exuberance seen in some corners of the market is easing,” says Knight Frank’s Gráinne Gilmore, as the agency’s monthly House Price Sentiment Index shows another drop. Q 50% of new applicants made an offer in July – D&G There seem to be some pretty motivated househunters out there this Summer, with Douglas & Gordon reporting that nearly half of its new applicants actually made an offer on a property last month.Q Caution, Plateau: London’s new prime sales landscape There’s been “a distinct change in attitude on the part of both buyers and vendors” in prime London through this year’s second quarter, says Chestertons.Q London Uberground: Housing markets along the ‘ginger line’ outperform One of London’s least-celebrated transport links – the ‘ginger line’ – has actually had a profound effect on the property markets it passes through, according to Hamptons International. Q Graph by Knight Frank p.4 this is just a small selection of highlights from August’s news on PrimeResi.com read the full stories here: www.primeresi.com/the-market
Images, from top: The Crown Estate, Heron International, villaforsale-spain.com, Brimelow McSweeney Church sells chunk of Mayfair to Crowns for £381m The Church has offloaded its 64% stake in the Pollen Estate - that four acre square of Mayfair between Conduit Street, Regent Street, Burlington Gardens and Bond Street – for £381m. Q Heron Plaza site sells to Singapore’s UOL Group Singapore-based UOL Group has bought the Heron Plaza site on Bishopsgate from Gerald Ronson’s Heron International for £97m, with plans for luxury residential apartments, a hotel and retail units. It’s UOL’s first major London play. Q Subscribe to PrimeResi.com to read these stories in full Nod for Brimelow McSweeney’s Soho scheme Brimelow McSweeney has bagged planning permission for its residential designs on 181-185 Wardour Street. Q NEWS: DEALS & DEVELOPMENTS ‘Heroic’ rescue of Brontë’s muse wins top restoration award A late medieval house in North Yorkshire that’s thought to have inspired the setting for Jane Eyre has walked away with this year’s coveted HHA & Sotheby’s Restoration Award.Q Hadley completes Chelsea Island acquisition with £48m bridge Luxury developer Hadley Property Group has completed the acquisition of a development site in Chelsea Harbour with a chunky bridging loan from Omni Capital. Q Lift off for government property search engine It’s just got a whole lot easier to find underused and empty government land and property. Q Construction firms battle it out over £600m Battersea Power Station contract It sounds like things are heating up in the battle for the £600m contract to redevelop the main Battersea Power Station building. Q Free Lamborghini Diablo: Spanish villa offered with supercar sweetener A villa on the Costa del Sol is being offered for sale with a free Lamborghini Diablo thrown in to sweeten the deal. Q Tough love for Candy’s Sugar Quay S106 plea Planners are “sticking to their guns” over a £15m affordable housing contribution requirement for Candy & Candy’s Sugar Quay development. Q this is just a small selection of highlights from August’s news on PrimeResi.com read the full stories here: www.primeresi.com/news p.5
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