Property News

Exclusive: Many tenants aged over 65 are already struggling, Independent Age research findsAlmost two-thirds of tenants over 65 have cut back on their general spending as a result of the cost of living crisis, and campaigners are warning that older people who do not own their homes are particularly vulnerable to rising bills.Research shared […]

Exclusive: RHS says queries about diseases down 45% in good sign for May blooms such as lupins and irisPlant diseases are at their lowest levels in the UK for years because of a cold, dry spring, meaning it could be a bumper year for apples, and popular blooms such as iris are likely to […]

Few foreign investors are aware of the revised legislation, the impact on their residential property portfolio, and how to plan for it Source : arabianbusiness.com Read more…UK inheritance tax net spreads to UAE properties: Have you planned ahead?

Pent-up lockdown demand and stamp duty holidays kept prices high, but rising mortgage rates and living costs may tip balanceIt’s two years since concern last swirled around the health of the housing market. Then, estate agents were tentatively setting up socially distanced viewings after the market was allowed to reopen part-way through the first […]

April marks longest run of monthly increases since 2016 as average cost of home reaches record of £286,079House prices rose again in April, extending the longest run of monthly increases in six years, according to Halifax, but the lender said rising interest rates and squeezed household budgets would cool the market over the next […]

People urged to leave out mud pies and dishes of fresh water for migrating birds as temperatures riseThe RSPB is urging the public to get their hands dirty this weekend and create mud pies to help endangered birds such as house martins, swifts and swallows get enough sludge to build their nests.A nine-day mini-heatwave […]

Incredible Edible says a new law could give people better health, wellbeing and access to fruit and vegetablesPeople should be given the right to turn road verges, sterile lawns around hospitals and underused public spaces into vegetable gardens and orchards, say campaigners for a “right to grow” law.Incredible Edible, a network of more than […]

Average price of property in April rises to £267,620, the ninth straight month of growth, says NationwideHouse prices continued to climb in April but the rate of growth is slowing as soaring inflation and the cost of living crisis starts to affect the market, figures show.The average amount paid for a home in the […]

Typical figure in first three months of 2022 was 6.1% higher than a year earlier, standing at £849 a monthMore than one in seven private tenants are “overpaying” to secure a rental property, often because they are desperate or there is nothing else available, research suggests.Average UK rents have increased for the sixth quarter […]

The leaders discussed the need to strengthen joint Arab action and address the crises threatening the region’s security and stability Source : arabianbusiness.com Read more…Abu Dhabi Crown Prince, President of Egypt, and King of Jordan discuss impact of Ukraine crisis

Savills says people are paying close attention to EPCs, and homes with heat pumps sell at a premiumHomebuyers are paying more for properties with heat pumps or other low-carbon technology installed, and are looking closely at energy ratings, according to analysis by the estate agents Savills.Energy-saving credentials are becoming important considerations for people who […]

Christian charity ignored for years complaints of ‘serious hazards’ in rental properties in Hadleigh, EssexThe Salvation Army, one of the UK’s best known and well funded charities, has been accused of acting like “a rogue landlord” by leaving some of its private tenants exposed to “serious” hazards for at least seven years.The Christian organisation, […]

We would like to hear from people who have been served with an eviction notice in the last few yearsTheresa May said she would ban “no-fault” section 21 evictions three years ago, but currently they remain in place. Evictions jumped again last year – after the pandemic eviction ban ended on 31 May – […]

But situation needs looking at in global context because it is not a story of British exceptionalismEaster traditionally marks the start of the annual housebuying season but this year there has been no need for potential sellers to mow the lawn and give the living room a lick of paint because the market’s already […]

Brokers warn soaring bills, tax rises and big hike in cost of household basics have forced lenders to recalculate modelsHomebuyers wanting to take out a mortgage could soon struggle to get the size of loan they need, as banks begin taking into account the cost of living crisis when calculating how much they can […]

RSPB scientists say small increase in sightings points to first signs of recovery of beleaguered speciesGreenfinch populations, which were previously in steep decline in the UK, are showing the first signs of recovery, according to the latest annual RSPB big garden birdwatch results.The citizen science survey gives a good idea of how bird populations […]

Shortage of homes for sale and ‘race for space’ drove average cost to 282,753 in March, says HalifaxUK house prices hit a record of £282,753 in March but are likely to ease over the next year as homebuyers face higher interest rates and the cost of living squeeze, Halifax has said.The average cost of […]

Prices boom across all of UK with average price up by £33,000UK house prices grew at the fastest annual pace since 2004 in March, continuing the ascent to new record levels – a fifth higher than at the start of the coronavirus pandemic.Prices rose by 14.3% in the year to March, the strongest pace […]

Peatlands hold double the carbon of the world’s forests, and scientists, gardeners and campaigners want a ban on peat salesMore than a third of all compost sold in the UK in 2021 was peat dug from carbon-rich habitats, new data has revealed.The Horticultural Trades Association (HTA), which opposes a ban on peat sales, provided […]

Agents have given different advice and even the government’s website doesn’t make things clear for meQ I’ve managed to secure a job as a teacher in Brunei, starting in August, which is very exciting.I’m currently going through the process of getting my house ready to rent out which I will be doing through an […]

Anne Rothschild says the unchecked purchase of homes by overseas investors has helped to drive prices to ridiculous levelsCongratulations to the Guardian and its partners for the asset-tracking project ($17bn of global assets linked to 35 Russians with alleged ties to Putin, 21 March). Let us hope that the whole grubby episode of golden […]

Signs of warm weather have already boosted sales of outdoor items – and a wood pellet BBQ operated by an app is a hot favouriteThere have been fire pits, pizza ovens and even inflatable hot tubs, but now the wood pellet barbecue is the object outdoor lovers are expected to queue up for in […]

DMCC has played a major role in developing UAE-UK trade relations and is currently home to almost 2,000 British companies Source : arabianbusiness.com Read more…DMCC highlights opportunities for British companies in Dubai as UK claims one in five FDI projects in 2021

Oil extended gains after the biggest daily surge in 16 months pushed prices back above $100 a barrel, as Russia cast doubts on the progress of its peace talks with Ukraine Source : arabianbusiness.com Read more…Dubai Ruler orders airlift of emergency aid for Ukraine civilians as UAE Foreign Minister calls for ceasefire in […]

Mortgage holders, house hunters and savers will be affected by the Bank of England raising rate to 0.75%The Bank of England has increased interest rates to 0.75% in an attempt to tackle rising inflation in the UK. That means the base rate is back to its pre-pandemic level. What does it mean for UK […]

UK Prime Minister Boris Johnson shared optimism about Saudi Arabia raising oil outputs, after his meeting with the Saudi Crown Prince, but received no guarantees that it would occur Source : arabianbusiness.com Read more…UK’s Boris Johnson discusses Ukraine crisis with Abu Dhabi, Saudi Crown Princes as oil prices edge higher on US plan to […]

Despite a modest setback at the turn of the year, the UAE GDP is forecast to grow by 6.2 percent in 2022, and 6.7 percent in 2023, backed by expansionary government policy and the surging oil sector Source : arabianbusiness.com Read more…UAE economic recovery on “firm footing” despite Omicron concerns, fallout of Russia-Ukraine […]

The leaders will meet while global markets continue a tumultuous 2022 amid Russia’s ongoing war in Ukraine Source : arabianbusiness.com Read more…UK’s Boris Johnson to meet UAE, Saudi Crown Princes as oil market pressure maintains despite price drop

Virgin Atlantic offers passengers travelling to the UK “the personal choice on whether to wear a mask onboard”, although requirements may differ by destination Source : arabianbusiness.com Read more…UK cancels all remaining travel restrictions; PCR tests, masks, passenger locator forms not mandatory on arrival

While on one hand, Ukrainian citizens may benefit from cryptocurrency as they can convert their wealth into cryptocurrencies and curtail the risk of a banking system collapse; on the other hand, Russians are turning to cryptocurrencies to evade the crashing rouble Source : arabianbusiness.com Read more…Crypto dons mantle of alternative payment mechanism as […]

The UAE’s largest airlines, Emirates, had previously stated that its’ partner airlines – flydubai and S7 ‑ have suspended certain flights to Russia, Ukraine, and Belarus due to the closure of airspace over these areas Source : arabianbusiness.com Read more…Oil prices decline as Russia-Ukraine negotiations progress, Beijing overture sends Chinese tech stocks tumbling

Spring turns Florence into a vision in purple, a French garden into an impressionist revival, and churchyards into poets’ cornersThe Azores, an archipelago in the Atlantic Ocean, is one of the remotest parts of Europe. Often considered the European Hawaii, with a strong volcanic presence, from black sand to geysers, the Azores are also […]

Complexity of ownership structures means the number controlled by Russian billionaires is anyone’s guess Source : ft.com Read more…The Lex Newsletter: UK must expose oligarch owners of country’s priciest properties

Average price hits £278,123 as property market continues to defy economic conditionsUK house prices are rising at their fastest rate since 2007, according to Halifax, with the typical property notching up its biggest annual cash gain in the near 40 years since the lender’s index began.Two years on from the start of the coronavirus […]

Average UK rent has passed £1,000 as house price figure breaks through £260,000 barrier for the first timeRecord rents of more than £1,000 a month and the average house price breaking through the £260,000 barrier are putting added pressure on households already facing a cost of living crisis.Data from the tenant referencing agency HomeLet […]

London and the outlying boroughs of the United Kingdom’s capital remain the top destination for Hong Kong’s migrants under the British National (Overseas) visa programme, taking the lion’s share of home sales attributed to the influx in the past year.London “is popular among Hong Kong buyers due to its abundance of family-oriented amenities,” said […]

After a lifetime in Hong Kong, Sung Chi-wah and his wife packed up their belongings last June and moved to Swindon, a town of 222,000 people in southwest England – about an hour-long train ride from central London.The couple, both nearing retirement age, wanted to take care of their daughter, a first-year psychology student […]

MPs say additions to economic crime bill would help prevent oligarchs and others using ‘intimidation lawsuits’Free speech amendments have been tabled for inclusion in anti-corruption legislation due before parliament next week, after ministers promised to reform Britain’s legal system to prevent “intimidation lawsuits”.The Labour MP Liam Byrne and the Conservative MP David Davis tabled […]

Dubai Gold & Commodities Exchange CEO says investors are continuing to grapple with inflation, oil prices and geo-political developments Source : arabianbusiness.com Read more…Dubai’s DGCX sees .7bn trades in February as Ukraine crisis drives volatility

Fall in valuations slows for mall owner after brutal downturn Source : ft.com Read more…Hammerson confident of a bright future for UK shopping centres

Although higher oil prices are likely to further boost confidence and sentiment in the UAE economy, no major change is expected in the macro-picture of further acceleration in lending Source : arabianbusiness.com Read more…Impact of Russia-Ukraine conflict on UAE banking system “to be limited”: S&P Global Ratings

Ukrainian officials say Russian troops have shelled Europe’s biggest nuclear plant as the conflict deepens, while the UAE calls for a return to talks and a diplomatic solution Source : arabianbusiness.com Read more…Stock markets react to attack on nuclear plant while UAE calls for de-escalation of the Russia Ukraine war

EU accuses UK of lagging behind as Whitehall source says it is ‘weeks behind where it should be’Russia-Ukraine crisis: live newsMinisters are understood to be examining ways of speeding up the sanctions process, amid fears that targeting the government’s full hitlist of more than 100 Russian oligarchs could take as long as six months, […]

Brent crude continued its rally, jumping 5.3% to $118.86 a barrel, as trade disruption, supply chain issues, and sanctions on Russia over its war in Ukraine kept energy markets on edge Source : arabianbusiness.com Read more…Oil climbs to highest peak since 2008, as Russia-Ukraine war enters Week 2

The United Nations General Assembly has demanded that the Russian Federation immediately cease its “unlawful use of force against Ukraine and refrain from any further threat or use of force against any United Nations Member State.” Source : arabianbusiness.com Read more…UAE votes in favour of UN decision for Russia to end Ukraine war […]

The UAE has called for the protection of Ukraine civilians, unimpeded access for humanitarian agencies, stemming the deteriorating situation for civilians, and safe passage for those seeking to leave the country without discrimination or obstacles Source : arabianbusiness.com Read more…UAE provides million in humanitarian aid to help Ukraine civilians impacted by Russia conflict

Housebuilder predicts prices will rise further despite cautioning Ukraine war could disrupt economyBritain’s biggest housebuilder, Persimmon, has announced profits of nearly £1bn in 2021, but cautioned that the Ukraine invasion could disrupt the the UK economy in the year ahead.Persimmon’s profits jumped by nearly a quarter to £970m thanks to “positive pricing conditions” in […]

Nationwide says value of typical property increased by £29,162 in a year and now stands at £260,230The average British house price has topped £260,000 for the first time, according to the UK’s biggest building society, after soaring by almost £30,000 over the past 12 months.Nationwide said the typical property value reached £260,230 in February […]

Nationwide house price index climbs at annual rate of 12.6% in February Source : ft.com Read more…UK house prices surge despite inflation woes

13 cross-border M&A deals involving acquisition targets based in Russia or Ukraine were planned or announced during the last six months. However, the fate of these deals is uncertain, as the completion of some of these deals is likely to be delayed, while some experts state that they may even be called off […]

The Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed emphasised that the UAE will continue its coordination with concerned parties in order to help find a sustainable political solution to the ongoing Russia-Ukraine crisis Source : arabianbusiness.com Read more…Abu Dhabi Crown Prince calls for Putin to find “peaceful solution” in Ukraine as crisis […]

Long-delayed and apparently feeble enforcement measures will fail to tackle corruption, it is predictedThe government’s long-delayed register of offshore owners of UK property will fail to tackle corruption unless multiple loopholes in the draft legislation are closed, experts have warned.On Monday, the government announced it would introduce a “register of overseas entities” requiring anonymous […]

Plans first announced under David Cameron would strip secrecy from offshore ownership including by senior Russian figuresAs the government acts to squeeze Russian oligarchs in the wake of Vladimir Putin’s invasion of Ukraine, Boris Johnson has promised to rush forward plans for a new public register, revealing the ultimate owners of properties across the […]

The price of fuel, including petrol and diesel, in the UAE have climbed above AED 3 per litre including the 5% VAT, rising by 30 fils on average across the Special 95, Super 98, E-plus 91, and diesel options Source : arabianbusiness.com Read more…UAE residents feel ripple effect of Russia-Ukraine conflict as fuel […]

Debt-stricken Chinese developer Fantasia Holdings Group and its chairman Pan Jun have been heavily criticised by the Hong Kong stock exchange for breaching an agreement to avoid direct competition with a spin-off company.The exchange publicly rebuked Fantasia and Pan, and ordered the chairman to attend 17 hours of training on corporate governance and other […]

Saudi Crown Prince Mohammed bin Salman has called for stability, UAE official Dr Anwar Gargash rules out “military solutions” to the Russia-Ukraine crisis as oil soars to $103 a barrel and commodity markets combat a state of disarray Source : arabianbusiness.com Read more…Saudi’s Crown Prince and UAE president’s advisor call for stability as […]

Borrowers act fast to lock in attractive deals as further rate rises are expected Source : ft.com Read more…Rates rise on UK mortgages as lenders look to inflation fallout

Nearly two years after the first lockdown was implemented, legal restrictions related to coronavirus are finally being lifted. Here we chart what has changed in people’s livesIt’s nearly two years since the prime minister, Boris Johnson, announced the first national Covid lockdown and, for many Britons, life feels close to normal. As of Thursday, […]

Hong Kong’s planned moratorium on commercial rents is likely to be effective in helping small businesses survive the pandemic if similar relief measures in the UK and Singapore are any guide, according to property experts.Small and medium-sized enterprises (SMEs) in certain sectors will be allowed to defer their rent payments by up to six […]

Keeley-Jasmine Cavendish calls for a mass construction programme for social housing, while Dr Sue Roberts would like to limit homeownership to local people and David Critchlow says the obstacle to progress is Tory ideologyI read with interest your editorial (21 February) regarding buy-to-let landlords and the injustice faced by renters who are excluded from […]