London Property Headlines (May 29th, 2019)

The latest London property headlines, trends in the real estate market and property investment analysis.

Yards away from the £1 billion US Embassy in Nine Elms, south London, the first ever sky pool is being built in London’s exclusive Embassy Gardens luxury apartment and shopping complex. This 25-metre transparent pool between two ten-storey buildings will be 115ft high in the air and three meters deep. This marks an addition to the “aquatic arms race” waged by luxury property developers in the UK. “My vision for the sky pool stemmed from a desire to push the boundaries in the capability of construction and engineering, I wanted to do something that had never been done before.” Sean Mulryan, CEO, Ecoworld Ballymore (The property’s developer) stated. The building will comprise of 2,000 new homes, stunning landscaped gardens, vibrant new bars, and restaurants in addition to 130,000 square feet of shopping space. — METRO

First floating London property pool
Floating Pool Concept

London still a property investment hotspot for Middle East investors. This report follows a previous analysis by 2019’s Knight and Frank’s wealth report. The report stated that the Middle East ultra-high net worth investors (UHNWIs) poured $3.3 billion into London’s real estate market in 2018. Despite Brexit, UHNWIs are not only taking advantage of a favorable currency environment with strengthening dollar-pegged exchange rates against a weakening sterling but also because of the UK’s safe-haven status. A research by technology and investment advisory firm, GP Bullhound, also showed that London’s technology ecosystem has helped 17 companies surpass the $1 billion valuation mark since 2010 further asserting the capital as a leading global city, financial hub and property investment destination in addition to Europe’s number one tech hub for unicorn companies. — ARABIAN BUSINESS

London still a property investment hotspot for Middle East investors.
Property Investment Hotspots

Research by UK’s online estate agents HouseSimple reveals that poor broadband speeds could knock up to 25% off the value of a home. The research was based on findings from the comparison of average house prices on streets with some of the slowest broadband speeds and those with good quality broadband internet speeds in Britain (this is less than 1Mbps vs. UK average broadband speed of 46.2Mbps). House prices were on an average 24% lower on the streets with the slowest broadband speeds (£182,983) compared to (£240,031) for areas with good quality internet speeds. “Broadband is now considered the fourth utility after water, gas, and electricity, such as our reliance on a fast internet connection at home for everyday tasks such as food shopping and watching the television. And having a fiendishly slow internet connection at home can really affect the saleability of a house.” CEO HouseSimple, Sam Mitchell stated. — PROPERTY INVESTOR TODAY

The Landsite – A new UK platform recently launched with the aim of connecting Britain’s professional property industry. The platform offers landlords, tenants, professional property services, and independent users’ access to professional services such as land property news and analytics. With a view to creating a community network for property professionals, Assal, a property investor and developer took the decision to create the new platform due to frustrations of sourcing both land for new development and reliable professional service businesses. Perks of “The Landsite” include features such as land and property can be uploaded by agents and developers themselves via a user-friendly, step-by-step dashboard that will give them direct access to active investors, buyers, landlords, and tenants. Although at the development phase, the platform will enable registered users to connect, network and converse in a forum setting with communication features such as instant messaging planned (Much like the LinkedIn of property and real estate) — INVEST FOR PROPERTY

Data from Knight Frank’s inaugural Residential Investment report reveal that London and Bristol are set to be hotspots for Private Rented Sectors (PRS), Senior Living and Student Accommodation. Knight Frank surveyed 43 leading investors, with a combined £32 billion already invested across Student Accommodation, PRS and Senior Living Rental and found that 35% of respondents expect to be active across all three sectors in 2024. (up from 13% today). The report reveals that over the next five years the PRS sector is set to leapfrog student accommodation, in terms of size, with the sum of capital invested and committed in the investment-grade private rented sector forecast to be £75 billion. This is a rise of more than the total value of the student accommodation sector, forecast to be £65 billion. The report also noted that there is an overlap of the different drivers for each sector to provide a favourable investment environment. This stems from strong student demand, large-scale city regeneration, and development. — PROPERTY WIRE

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 21st, 2019)

The latest London property headlines, trends in the real estate market and property investment analysis.

The average asking price of a home in Greater London has been slashed by £16,157 (2.5% decline) to £621,589 over the last 12 months to May while values in the North and the Midlands rise, according to the Latest house price index by Rightmove. The property market in Wales registered the most significant growth as the asking price for homes grew 4% with regions defying Brexit. The North and Midlands property market outperformed the South as the registered a growth average home asking price of 2.3% and 3% respectively. Rightmove analyst Miles Shipside stated that the majority of Britons had defied Brexit as property buyers prioritized their own housing needs more than the country’s political chaos. — HOMES&PROPERTY

#London price property headlines
Courtesy RightMove

The Square Mile in London leads in new office developments. Accountancy firm Deloitte in their latest research, reports 12% higher office space construction between October 2018 and March 2019 than in the previous six months. “The uptick in construction activity in the run-up to the originally scheduled EU departure date of March 2019 is remarkable, given the magnitude of political and economic uncertainty,” Deloitte’s analysts stated. The later added, “It demonstrates that developers have not delayed their construction plans and have confidence in the London leasing market over the long term.” London also accounted for the greatest amount of space across new construction spaces during in six months at 1.2 million square feet. — FINANCIAL NEWS

#London #property
The Square Mile London

London based Shojin Property Partners, offers property investors a new type of opportunity through the use of security real estate tokens by smartlands. Real estate tokenization is the process of representing an ownership interest in real estate with a token (For a detailed explanation read this Hackernoon article) Smartland’s maiden Security Token Offering (STO) comprises of tokenized investments in student accommodation in Nottingham. The private offering started with a minimum investment of 25,000 GBP while the public securities sale launched earlier this month with a minimum threshold of 500 GBP. This project’s benefits to investors include; An average annual dividend yield of approximately 5.74% in addition to an annual return of 15.72% including capital growth. — SECURITIES

The £8 billion White City Opportunity Area is one of west London’s biggest regeneration projects offering attractive opportunities to property investors. The development is a collaboration between the local government and private investors. Over the next five years, it aims to create 6,000 new homes, 2.2 million square feet of office space and 20,000 jobs. Some residential developments are almost ready for occupancy such as the White City Living by St James which is slated to welcome its first residents later this year. This is a mixed-use development across eight acres of parks, gardens with shops, cafes, restaurants, and more than 1,800 homes. Opening from late 2019, White City Living will include a choice of suites, one, two, three or four-bedroom apartments and penthouses. Phase one comprises of 412 apartments across three buildings, all of which have private balconies. — SOUTH CHINA MORNING POST

#London White City property headlines
A depiction of White City Opportunity Area

Buy-to-Let properties in London recorded the highest returns as U.K. landlords who sold their properties in 2018 made an average of £79,770 (US$103,692), according to the Hamptons International Monthly Lettings Index. “Over the 9.6 years that the average landlord has owned their buy-to-let, house price growth has driven their gains, with prices having risen around 30% over the period,” according to Aneisha Beveridge, head of research at Hamptons International. According to the report, Landlords selling in the London neighborhoods of Kensington and Chelsea saw the largest gains, seeing a pre-tax profit of just over an average £1 million. The report also highlights four local authorities in England and Wales where landlords were more likely to sell their buy-to-let for less than they paid for in 2018. These are South Tyneside, Sunderland, Darlington, and Middlesbrough. — MANSION GLOBAL

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 19th, 2019)

The latest London property News & Headlines, trends in the real estate market and property investment analysis.

New York’s all-women coworking space and members’ club- The Wing is opening its first international hub in London this autumn. This ninth site will occupy a five-storey townhouse in Fitzrovia. With the rise of remote working “The Wing” sets itself apart from the competition in its dedication to a women-based co-working space. The Wing’s membership prices range from $2,350 to $2,700 a year offering members access to a variety of unique perks such a tea room, beauty room, a portrait gallery, and a roof terrace with chequerboard grass. “The Wing is a completely authentic space led by women who genuinely care about the women’s movement,” states Sharmadean Reid, a founding member. — THE SPACES

#Londonproperty #LondonTheWing
Courtesy The Wing

The fringes of London offer a better cost per square metre of renting a home as revealed by exclusive new research by OpenRent letting agents. The report revealed that Londoners can get the most living space for an average £100 in Orpington for 7.23square metres. The most expensive London postcode is Mayfair where an average £100 will rent one 1.23square metres for a month. This follows last week’s article that analyzed towns outside Britain’s Capital with the most extravagant property prices. Virginia Water in Surrey Britain was named the UK’s first “million-pound town” a few years ago. Reporting on property market performance for the end of 2018 and start of 2019, the Daily Express stated that the average house price growth stagnated in the face of Brexit uncertainty. — HOMES & PROPERTY

#LondonMonthlyRentalBudget
Courtesy Homes & Property

Inadash – A new mobile app venture that aims to simplify the process of finding new tenants for landlords in London. The app seeks to bridge the vast gap between landlords and tenants as highlighted by a recent industry expert study. It highlighted that it took property renters an average of four weeks to enquire, book and view a property. Inadash enables agents to register an available property and state when they are planning or open to customer visits. The app then advertises the property as an ‘Open House’ to renters and gives them the opportunity to instantly book a viewing directly with the agent. It minimizes the time wasted by potential tenants to enquire for properties that have already been snapped up. — PROPERTY INVESTOR TODAY

According to research by the AA, a third of tenants in the UK have no home insurance and assume their landlord’s insurance is sufficient. Despite most landlords having some form of basic insurance cover to protect their rental property investment, the main difference between insurance covers that landlords take out and tenants is liability. Most Landlord covers mainly cover the maintenance of a safe property for their tenants in addition to repair work such as plumbing. Some tenancy agreements for tenants about to move into a property may state that they are liable for damage to their landlord’s furniture and fittings in the property. It is thus vital for tenants to double check the contract agreements to prevent future problems. — ESTATE AGENT NETWORKING

Sale prices of top-end homes in London have been falling for nearly four years, as the British capital experiences, the Longest property price plummets in decades. The Financial Times had earlier attributed this trend to the Brexit uncertainty, tax hikes, a crackdown on money laundering and a surplus of new properties. “I’ve always said that what we could not cope with economically in this country is a long, prolonged period of uncertainty,’’ said Mark Preston, chief executive of the Grosvenor Group, the property company that owns the vast upscale Belgravia and Mayfair districts on behalf of the billionaire Duke of Westminster. A perfect example is the Havona House in London’s Notting Hill neighborhood. The luxury home which was listed for 25 million pounds, was taken off listing by the owners just over a year. — BLOOMBERG

#HavonaHouse #LondonProperty
The Havona House

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 13th, 2019)

Below we highlight the latest London property News & Headlines, trends in the real estate market and property investment analysis.

The average property in the UK takes around 56 days to go under offer from when it’s first listed, states the latest property market research by Zoopla. “Despite widespread reports of a subdued housing market, Brits may be surprised that it takes less than two months for the average British property to go under offer from the date it was first listed for sale.” Annabel Dixon, spokesperson for Zoopla said. The research found out that properties in Blackpool and London take the longest to go under offer averaging 71 and 70 days respectively. The research suggested that properties priced fairly in regards to the current market conditions sell quicker. Edinburgh and Falkirk are the fastest places to sell a home in the United Kingdom, with an average of just 27 days to go under offer, compared to the overall UK average. — PROPERTY REPORTER

#HotLondonPropertyMarket
UK Hottest Property Markets (Courtesy Zoopla)

60% of high earners across the UK reside in London and the Southeast reveals estate agent Savills. The conclusion of the research was drawn upon the measurement of households with an annual income of £100,000 or more. “The consistent pull of high earners to certain locations has resulted in significant concentrations of housing equity in established prime markets. As they have climbed the career ladder so their spending power has risen, fueling higher long-term rates of house price growth than elsewhere in the country.” Savills’ residential research director Lucian Cook stated. In summary, the report finds that one in six London households earns more than £100,000 as compared with one in 32 in the Southwest, and just one in 87 in Northern Ireland. — Financial Times

#LondonRichPropertyPlaces
Courtesy Savills

According to a report from Acadata, the London property market is experiencing the hardest Brexit hit of all UK cities. House prices fell by 1.1% in April as compared to the previous year, the report depicted as property sales are down 14% since the first quarter of 2017. Property sellers in London are dropping prices to secure early sales. The report further affirms recently released data by the RICS and a prior comment by Simon Rubinsohn, RICS chief economist who said: “The combination of the increased cost of moving, a lack of fresh stock coming to the market, uncertainty over the political climate and now an interest rate hike appears to be taking its toll on activity in the housing market.” — BLOOMBERG

Statistics released by the Royal Institution of Chartered Surveyors (RICS) illuminate the impact of the buy-to-let crackdown in addition to the struggle of property buyers in Britain. Findings by the RICS depict that tenant demand is on the rise across the UK while the number of new landlords entering the market is plummeting. This follows last week’s research by the Residential Landlords Association (RLA) which found out that a quarter of private landlords are looking to sell at least one property over the next year. The future continues to look bleak for Landlords with the Tenant fees bill scheduled to come into force this June in addition to the proposed abolition of Section 21. “One explanation for this could be that first-time buyers and family movers have decided to push ahead with their plans for this year regardless of the current political climate, while the more discretionary-led buyers, who would be purchasing luxury homes, are potentially taking a more circumspect view.” Brian Murphy, head of lending for Mortgage Advice Bureau said. — THIS IS MONEY

Much like popular dating app Tinder, Polygon a PropTech startup aims to ease student hunting hassles. The PropTech app has developed a housemate matching algorithm to minimize disputes between renters. Students using the app swipe left on homes they don’t like and right on homes, they are interested in. Students then leave their availability with the homeowner for a viewing or instant reservation on interested homes. Launched in 2018, Polygon states that its housemate-finder algorithm pairs students based on their domestic habits and personalities. The app offers free listings to landlords, purpose-built student accommodation (PBSA) and letting agents. Once the student signs a tenancy agreement, the landlord/letting party must pay an agreed fee to the app. “Due to the many horror stories of rogue landlords taking advantage of unsuspecting students, Polygon only lets regulated landlords and letting agents list their properties on their platform.” Polygon stated during its Launch. — PROPERTY INVESTOR TODAY

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 10th, 2019)

We highlight the latest London property News & Headlines, trends in the real estate market and property investment analysis.

A recent survey by estate agency comparison site, GetAgent reveals that for the price of one single flat in London’s most coveted boroughs (Kensington and Chelsea), one can buy as many as eight detached houses in other areas of the country.  “Getting a foot on the ladder is a momentous task for many and so it’s quite mind-boggling when you consider how many houses you can buy in other great parts of the UK for the price of just one flat in Kensington and Chelsea,” Colby Short, CEO GetAgent, states. A flat in Chelsea would cost a property buyer £1,161,580 compared to an average house price in the Western Isles which averages around £137,742. This is an astounding 8.4 houses for the price of one Chelsea flat. — REAL HOMES

#Londonproperty #realestate #UK
Courtesy Real Homes

US and India property buyers top interested parties in London’s property market. According to London real estate agent Chestertons, the US has been the most interested foreign country in London properties for the past three years. It recorded visits to Chestertons’ website up 85% between the period of January and March 2019 compared to the same time in 2018. India’s growing interest in the London property market has been attributed to the expanding middle class, a growing economy, and favourable currency exchange rates. Chestertons recorded web traffic from India up by 94% during the same period. Guy Gittins, managing director of Chestertons stated that “A common theme among both nationalities that we are dealing with is that they are taking a longer-term view about London and the UK. Brexit is generally regarded as a shorter-term blip which will not detract to any significant degree from London’s pedigree as a world city and a safe haven.” — PROPERTY INVESTOR TODAY

#Londonproperty
London’s Skyline

Property lender Fitzrovia Finance launches GBP100 million institutional platform to private investors with annual returns of up to 5.5%. This means “every £100 loan is secured against £150 of bricks and mortar assets “as Mortgage Introducer states. Fitzrovia’s lending model is mainly focused on residential and commercial property developers. Since its launch, it has provided over £100m of loans. Investors can now access the platform with a £1,000 minimum investment in addition to their prior funding capability of between £1m- £15m. “We compete by offering better rates to better borrowers, in less time and with less hassle, armed with the insight and hands-on experience of our seasoned lending team. We then make these attractive, property-backed returns to our preferred borrowers available to investors with ease and convenience via our state-of-the-art platform.” Katia Pourgalis, COO of Fitzrovia Finance said. — WEALTH ADVISER

London ranked second worst locations in the UK to raise a family after Bristol. Revealed by MoneySuperMarket’s annual Family Living Index, 35 UK cities were surveyed based on six key factors that are; local school rankings, house prices, the likelihood of burglary, job opportunities, access to green space, and average salary. For the second year in a row, Bath has retained its title as UK’s best place to raise a family. Even though London has the highest average income and level of disposable income, it continues to rank near the bottom of the list due to the high average house prices (£478,749). “If you’re thinking of buying a home, it’s worth looking at the bigger picture and taking things such as local amenities, job opportunities and green spaces into consideration. If you have young children, take a look at the schools and the catchment area – many people will pick the area they live in based on this alone.” Tom Flack, editor-in-chief at MoneySuperMarket stated. — PROPERTY REPORTER

A new white paper by London based investment introducing firms, Hunter Jones reveals that individuals could have received almost three times as much by investing in property bonds, compared to buy-to-let properties. In cases where buy-to-let properties would have provided a return of 4.6% per annum, assuming 100% occupancy, the property bond delivered a return of 27.2% over two years, breaking down to about 13% per annum. This is a clear difference of over 8% per annum. “In comparing the return of investing in a buy-to-let property with a property bond, this comes as no real surprise. Aside from receiving a far greater return, investing into a property development fund through a property bond enables individual investors to benefit from the profitability associated with the property sector, without all the downsides of direct property ownership.” Reece Mennie, CEO of Hunter Jones stated. — LONDON LOVES PROPERTY

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 8th, 2019)

The latest property headlines in London, UK.

The awe of communal gardens in London and why properties with access to such green spaces are the most coveted. – “If one were to count communal gardens that are not called ‘squares,’ ‘crescents,’ etc., I expect the number would be closer to 600 to 700. Some of the newer ones are merely street widenings and excuses for the builders to inflate the asking prices that surround them, as it is still very desirable in London to live on a square.” Todd Longstaffe-Gowan, author of the London Square states. A property unit costs around £2,000 a month without a garden whereas it would cost £2,500 if a communal garden was accessible. Eaton Square in the Belgravia district comprises of six gardens, where apartments can fetch an outstanding $10 million. Each June, these breathtaking spaces are open to the public at the Open Garden Square Weekend event. — THE NEW YORK TIMES

Kew Gardens, Southwest London
Kew Gardens, Southwest London

Besides Mayor Ed Holder and six councilors, all other politicians voted in favor of 10 principles for building on the lands surrounding Victoria Park, London. Since January the public has raised concerns over controversial plans to ring Victoria Park with high-rise towers. City hall in a series of meetings has been debating on plans of how tall developments around Victoria Park edges should be. Zoning laws allow for towers to be 35 storeys tall with bonusing on two sides of the park and nearby on a third. An Auburn Developments proposal for a 17-storey building at Wolfe and Wellington remains undecided until full plan with rules for intensification is solidified in June. Last night (Tuesday 7th May 2019), the council narrowly approved guidelines for Victoria Park development in an 8-7 vote. — THE LONDON FREE PRESS

Zoning laws allow for towers to be 35 storeys tall with bonusing on two sides of the park and nearby on a third
Courtesy Orchard Design Studio INC

According to the Estate Agents Network and data provider LonRes, huge drops have been witnessed in the prime London property market. Prices were down 9.7% compared with a year ago, while new instructions were down 27%. The prime London locations surveyed comprised of the most expensive postcodes in London, including Kensington and Chelsea. It revealed that new instructions were down by 38% compared with the first quarter of 2018. “The lack of activity within prime central London over the last four years has created a significant pool of pent-up demand.  Those who have tried to sell failed and withdrawn, together with those would-be sellers who have never even brought their home to market (instead of holding out for signs of improvement) will, we expect, re-enter the market as conditions improve.” A recent article by LonRes stated. — PROPERTY INDUSTRY EYE

The 1,000-foot Tulip Skyscraper building which was approved by planners last month evokes mixed feelings among Londoners – A survey by YouGov states.  The building which will serve as a multi-deck viewing platform when it opens in 2025, is considered to improve London’s skyline by 37% of people whereas 32% think it will have a negative effect on the city. Pensioners add up the majority of people who seem to hate the idea of the Tulip skyscraper, with as few as 14% saying it will make the skyline better. “It would seem, however, that the classics really are still the best: 70% of Londoners think St Paul’s Cathedral has changed London’s skyline for the better. A mere 1% think it has done so for the worse,” YouGov reported. — CITY A.M

Tulip Skyscraper in London
Tulip Skyscraper

Innovative lettings platform, Howsy reveals areas across the UK where one can find the best value rental spots when considered in context with the cost of buying a house in their latest research. They achieved this by comparing the average annual rent to the average house price in each surveyed area. These places were then ranked by the lowest percentage ratio to highlight the sought-after homeowning hotspots offering the lowest rental barriers. “The affordability of living anywhere in the UK is always relative to the place itself, the wage on offer and the cost of living and of course these tend to be higher in more desirable areas.” Calum Brannan, Founder, and CEO of Howsy stated. Kensington and Chelsea have the lowest rent as a proportion of house price with an average annual rent of £38,076 which is 2.63% of the average house price (£1.4m). For people who can afford to rent in the prime London borough, it offers the best value to rent while faking the high-class homeowner lifestyle. — ESTATE AGENT NETWORKING

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.

London Property Headlines (May 3rd, 2019)

Below we explore the trending property headlines in London, UK.

The Westminster Council has approved application plans for a 42-storey residential tower dubbed the “Paddington Cucumber Tower”.  The 490 ft-tall building covered in a dark blue glazed terracotta cladding will feature a “crown-like peak” in addition to being the tallest tower at One Merchant Square. It will also consist of a sister building on the same basement podium, raised in height from 15 to 21 storeys. Even though the development was originally given consent eight years ago, the developers made changes and therefore needed fresh planning approval. As revealed by the planning documents, major changes involved the removal of a planned hotel so as to fit in flats. The development is however surrounded by controversies as only 67 of the two towers’ combined total of 426 flats will be classed as affordable housing. This is below Westminster Council’s own guidance for at least 30% to be affordable in addition to the Mayor of London’s 35% affordable target. — SECRET LONDON

42-storey residential tower dubbed the “Paddington Cucumber Tower”.
Paddington Cucumber Tower

‘The Loft Collection’ at Landmark Pinnacle has launched in London. The new studio and one-bedroom apartments are designed by architects Squire & Partners and comprise of neutral palettes with timber floors and floor-to-ceiling windows. Landmark Pinnacle is within walking distance of three DLR stations, and the Jubilee line at Canary Wharf Underground station. It was re-imagined by London developers Chalegrove Properties Ltd (CPL) and consists of 752 prime residential properties with over 70% of all available units sold to date. Rami Atallah, the project coordinator at Chalegrove Properties, said: “The Loft Collection is a premium upgrade to our studio offering, providing sophisticated living spaces for those looking for a prime apartment in London’s ever-growing financial district.” — BDAILY NEWS

‘The Loft Collection’ at Landmark Pinnacle has launched in London.
The Landmark Pinnacle

The UK witnesses an increase in the number of mortgages being taken out by first-time home buyers despite the Brexit environment. According toUK’s largest building society Nationwide, first-time home buyers seem to be benefiting from the weak house price growth as the country’s housing market continues to slump. Britain’s housing market registered a growth of less than 1%for the fifth month in a row. “While the ongoing economic uncertainties have clearly been weighing on consumer sentiment, this hasn’t prevented further steady gains in the number of first-time buyers entering the housing market in recent quarters. Robert Gardner, Nationwide’s chief economist stated. This trend follows a recent report by the Royal Institution of Chartered Surveyors which forecasted a modest improvement in Britain’s housing market over the next 12 months. — TELEGRAPH PROPERTY

Preliminary data for the first quarter on the UK property market has revealed two transactions worth almost $171 million from Saudi Arabia and Kuwait.  Despite the Brexit uncertainty these Gulf-based investors are atop the London commercial property investment leader board for 2019. Property broker, Knight and Frank expects the central London commercial property market to thrive estimating as much as £40 billion targeting real estate assets in London this year. “Despite the uncertainty thrown up by Brexit, there are bigger macro political considerations that are helping to cement London’s position as the number one global property investment destination,” added Faisal Durrani, an associate at Knight Frank. — ARAB NEWS

New market analysis reveals that property sellers remain cautious whereas property buyers in the central London market appear unbothered. The report reveals that demand far outweighs supply with most of these property buyers purchasing for family, work, and study in London. Dominic Agace, chief executive officer of Winkworth stated, “Despite some more challenging times in the central London market recently, we have every confidence that this year will see a return to positivity and now that the market is bottoming out, we expect activity to increase as the year goes on.’ He added, “People are more eager now to get moving, and those who had been adopting a wait and see approach are starting to move. It is now more crucial than ever for sellers to instruct a quality estate agent who can offer realistic advice based on years of experience.” — PROPERTY WIRE

Written and curated by David Kuria. He is the uber-curious type. A travel and real estate enthusiast. In simplicity, he covers global real estate news from nearly every angle in addition to market movements in finance, the world economy, and other business trends.  Follow him on Twitter.