The central London commercial property market has begun its recovery from the recession, research has suggested.
Last year saw an overall rise of 14 per cent in rental values across the capital, with the Docklands area seeing headline examples reaching an increase of 33 per cent from December 2009, according to research by Capita Symonds.
Alan Dornford, director of the company's real estate division, said: "The factors propelling the central London market, including the resurgence of the financial sector and strong interest from overseas investors, are likely to see the gap widen still
An H&M store is set to arrive in Huddersfield and the commercial property will be measured at roughly 17,000 sq ft.
The new site will create around 20 jobs when it opens in the town's Kingsgate Centre, with the company taking a 10-year lease at an annual rent of £275,000, according to the Huddersfield Daily Examiner.
A spokeswoman for H&M told the newspaper: "We're very much looking forward to opening there in the autumn and hope that the H&M business concept of fashion and quality at the best price for the whole family will be well received by local residents.
The number of first-time buyers getting on to the property ladder rose slightly during November to 16,400, after falling sharply in October. For the second month running people buying their first home put down an average deposit of 20%, compared with one of 24% in September, suggesting banks and building societies may have loosened their lending criteria slightly.
The housing market stalled during November with the number of mortgages advanced to people buying a home remaining unchanged, figures have shown.
Around 44,000 loans were lent to people buying a property during the month, unchanged from October and the joint lowest level since last May, said the Council of Mortgage Lenders.
The figure was also 15% down on the number of loans advanced in November 2009, when the market was distorted by people buying lower-value properties rushing to complete transactions before the stamp duty holiday ended.
Who qualifies
All first-time buyers with joint incomes up to £60,000 are now eligible.
What is shared ownership?
You buy a share in a property — 25 per cent to 50 per cent — and pay rent on the part you do not own. As your financial situation improves, you can “staircase”, ie buy further shares up to 100 per cent. On the upside, there is no need for you to raise a big mortgage, however you do not own the property outright and face restrictions when you come to sell.
What is an equity loan?
You pay part of the cost of your new home, usually 40 per cent to 50 per cent, and the
The London Evening Standard New Homes Awards, now in their 20th year, celebrate the highest standards of skill, design and craftsmanship in today’s new homes.
The awards consist of twelve categories, most of which have two sections. One section is for companies, or groups of associated companies, who build more than 100 units per annum. The other section is for those completing up to 100 units per annum.
So, whether you have built hundreds of units, or just a single house within the past year, we welcome your entries for these coveted awards.
Recent figures have shown that the interest charged on short-term fixed rate mortgages fell to a record low during December.
The average cost of a two-year fixed rate deal for someone with a 25% deposit dropped to 3.49% during the month, the lowest level since Bank of England records began in 1995.
Rates for the loans have been falling steadily since April last year as competition gradually returns to the mortgage market.
Tracker deals for a purchaser borrowing 75% of their home's value also remained competitive, edging ahead to 3.51% during December, only 0.02% above October's record
2011 begins with a boost for the buy-to-let industry, as an increasing number of residential landlords say that they are confident in the marketplace. Findings from the January Upad Landlord Confidence Index show that 63% of residential landlords are more confident than last month, up from 60% in December.
337 landlords responded to the question “Are you more confident or less confident about the buy-to-let market than you were last month?”
Of those who said that they felt more confident, most cited increased tenant demand for properties as the reason. Comments included:
The Independent on Sunday reported that prospective homeowners are bypassing estate agents in favour of residential auctions.
The number of residential properties auctioned over the past 12 months has risen substantially, with more than 25,000 homes on sale in 2010, with more than 100 residential auctions held in December alone, with 2,000 lots sold generating revenues in excess of £370m.
The final quarter of 2010 saw a 10 per cent increase in residential sales compared with the same period a year earlier. Property experts predict the trend is likely to accelerate over the coming year
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