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The Latest Breaking News from Savills

As Selfridges updates on ownership, new forecast shows retailer appetite for Oxford Street looks solid

Momentum on Oxford Street has been given a boost with a forecast anticipating that empty store numbers will fall over the next year, and a new majority ownership update for long-term occupier Selfridges.

Evening Standard

UK sees rent rise at a record rate. These areas have been hit the hardest

The average UK house price fell by 0.1% in the 12 months to September 2023, according to the Office for National Statistics

The Independent UK

Record rise in rents as house prices fall annually for first time in a decade

The average UK house price fell by 0.1% in the 12 months to September 2023, according to the Office for National Statistics.

The Independent UK

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Bank of England chief says ‘too early’ to talk about interest rate cuts; M&S surprises with profit jump – as it happened

Andrew Bailey warns against protectionism, saying fragmentation damages economy and financial markets; M&S retakes crown of UK womenswear leader

The Guardian - UK

UK housing market is past its ‘peak pain’, declares Savills

Upmarket estate agent says prices will start to bottom out in 2024 as interest rates fall and will return to growth in 2025

The Guardian - UK

Five-year house price forecast: how much could your London house be worth by 2028?

An average house in London could be worth over £70k more in five years time, but prices have further to fall first says Savills

Evening Standard

Average house price predicted to be £45,000 higher by 2028

The expectation of a gradual reduction in interest rates suggests a progressive restoration of buying power and recovery in demand, Savills said.

The Independent UK

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WeWork’s $18 billion bankruptcy is the last thing the reeling commercial real-estate sector needed

Offices now face “a potential new wave of unexpected vacancies,” Moody’s wrote. WeWork’s first move was to dump 70 leases—35 of them in New York.

Fortune

Mary Berry's former Buckinghamshire home on sale for £3.5 million

The previous Great British Bake Off judge owned the house for more than 30 years and used it to film several cookery shows

Evening Standard

London homes for sale under £1m with fun communal facilities from a rooftop running track to a bowling alley

From rooftop running tracks to tennis courts and allotments, these London homes offer neighbourly amenities without the dizzying price tag

Evening Standard

Size of UK build to rent sector has scope to swell, but firms face challenges in London

Get Living is among companies that have created large rental homes developments in London

Evening Standard

Rihanna’s former London rental mansion sells for £27.5m

Chinese buyer snaps up St John’s Wood house that often featured in singer’s Instagram posts

The Guardian - UK

Rihanna's London home sold to Chinese buyer for £27.5 million

Singer lived in St John's Wood mansion for two and a half years

Evening Standard

Horses for courses: this £20 million north London estate comes with its own polo field

Racehorse trainer Andrew Reid is selling a house with a designer cross-country course and stabling for 14 horses

Evening Standard

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Evening Standard

London's mega-mansion fire sale: why the super rich are slashing millions off their asking prices

Super-luxury property owners are knocking millions off their house prices in the hopes of making a sale in a struggling market

Evening Standard

London workspaces: Landsec's Marcus Geddes on Lucent, demand and if five-day office week will return

Sat behind the capital's most famous advertising board, Marcus Geddes sounds confident that property giant Landsec will have no trouble lining up a tenant for the last remaining floor of office space at Lucent, a large West End island site that has undergone a major redevelopment and is home to…

Evening Standard

Hampstead mansion that was home to one family for 86 years on the market for first time since 1937

Frognal Rise House, on the corner of Frognal Rise and Lower Terrace, has been home to three generations of the same family since 1937, but is now on sale for £11 million

The Independent UK

Prime London housing market more robust than mainstream equivalents – Savills

Some prime London housing markets are benefitting from affluent buyers’ ability to buy with cash or low loan-to-value ratios, Savills said.

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Evening Standard

Central London office take-up tumbles but rents for top space improve

City and West End rents for top quality office spaces have improved in what will be a welcome update for landlords in a tough leasing market, as new data shows total take-up has slumped.

Evening Standard

One year since the mini-Budget: meet the Londoners caught out by ‘astronomical’ rent rises and mortgage mayhem

A year after the mini-budget and with another interest rate rise looming, we hear from Londoners coping with the stress of spiralling costs

Evening Standard

Bond Street set for bumper year of store lettings as vacancy rate falls

Bond Street is having another bumper year with store lettings closing in on last year’s record and the vacancy rate falling back to pre-Covid levels, new data reveals.

The Independent UK

Emma Thompson among British stars uniting against plans for ‘Malibu mansion’ in Hampstead

Imelda Staunton, Greg Wise and Jim Carter are also among the A-listers protesting redevelopment plan in London’s leafy garden suburb

Evening Standard

Fears of London hotel investment slump amid soaring interest rates

Fears were growing today that London’s hotel building market is being threatened by interest rate rises as sky-high borrowing costs prompt operators to pull back on investment decisions.

Golf Monthly

The £2.3m Flat Up For Sale That Overlooks 18th Green At The Old Course

A property inside one of the game's most iconic buildings, with the best view in golf, has come up

Evening Standard

London’s dedicated student housing shortage laid bare in new research

Around four students are chasing every purpose built room in London amid a shortage of accommodation, new research has revealed.

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