Real Estate & Construction

In the wake of the Russian invasion of Ukraine on the 24th February 2022, one aspect of Anglo-Russian interaction which has been highlighted is the large holdings Russians have of British and especially London luxury property. This has inspired the moniker ‘Londongrad’ or ‘Moscow-on-Thames.’ On the 17th of February 2022, before the invasion, Priti Patel,…

Vacancy rates in UK commercial property are at an all-time high, with over 170,000 vacant properties. This is prevalent in both retail and office space, though not logistical and industrial property. In quarter 4 (Q4) of 2021 the retail vacancy rate, which is a strong indicator of overall high street health, was recorded at over…

Promising to be environmentally sustainable, cheaper to manufacture, and faster to build, modular construction is an attempt to bring the efficiency of the assembly line to the construction industry. Modular construction is a form of prefabrication where the building is produced in a factory and assembled on site. The factory produces standardised modules, which are…

On 10th January 2022, Michael Gove – acting as the Secretary of State for Levelling Up, Housing and Communities – announced that the UK government must reach a ‘new deal with industry’ by March 2022 in how to solve the cladding ‘crisis.’ If developers do not put forward a fully-funded plan, estimated to require 4…

On 10th January 2022, Michael Gove, acting as the Secretary of State for Levelling Up, Housing and Communities, announced that the UK government must reach a ‘new deal with industry’ by March 2022 in how to solve the cladding ‘crisis.’ If developers do not put forward a fully funded plan, estimated to require 4 billion…

4.1 billion GBP from large domestic and international firms flooded into the nascent British build-to-rent sector in 2021 and the industry is predicted to grow further in the coming year. Firms, including Lloyds Bank, are attracted to a product that has proven reliable returns despite the uncertainty of the COVID-19 pandemic. Build-to-rent is a style…

On 23rd November 2021, Kensington Mortgages launched a 40-year fixed rate mortgage. Funded by pension insurer Rothesay, this unusual mortgage offers security to borrowers amidst concerns regarding rising interest rates.  Kensington Mortgages is a specialist mortgage provider, who state they serve “people the high street is not always set up to cater for”. Kensington Mortgages…

Between September and October 2021, the IHS Markit/CIPS UK Construction Purchasing Managers’ Index (CPMI) rose from 52.6 to 54.6. A reading above 50 indicates the industry is growing. The index is calculated from a survey of construction managers around the country. This means it utilises information currently only available to firms and is generally indicative…

On the 21st October 2021, one day before their 30-day grace period from a missed payment deadline ended, Chinese construction firm the Evergrande Group paid 83.5 million USD to debt trustee Citibank.  With over 300 billion USD in debt, they are struggling to pay its suppliers and creditors. The 83.5 million USD payment was earmarked…

Building society Nationwide has reported that the average UK house price grew by 0.7% in the month of February 2021, resulting in annual growth of 6.9%, which is among the fastest rates seen in the past five years. In contrast, Halifax Bank found that the average UK house price decreased in February compared with the…