Lack of homes for sale pushes up house prices in Britain’s top cities -agents claim 12 buyers chasing every property for sale
House prices in Birmingham, Edinburgh, Leeds, Manchester and Nottingham have surged by at least 7 per cent in the last year, new figures reveal. They were the top five risers across Britain’s 20 best-known cities, where house prices increased on average by 5.5 per cent in the year to […]
Impact Estate unveils big UK investment opportunities
The key projects on display at the expo are Liverpool-based developments which include fully managed student accommodation and the residential towers with a guaranteed annual income besides properties in Kent and Manchester as well as other lucrative hassle-free investment offers.
Grainger PLC Selects MRI’s Property Accounting and Financial Management Solutions as Part of its Digital Transformation
Another UK Residential Real Estate Giant Chooses MRI’s Open and Connected Platform as Grainger Leverages Automation and Scalability for Rapid Growth
Grainger plc is the U.K.’s largest listed residential landlord, with a portfolio of 9,000 residential properties valued at £2.7 billion. Grainger has major growth plans with a commitment to invest a further £850 million into purpose-built rental housing in the U.K. by 2020.
As Grainger has shifted its portfolio toward the emerging U.K. build-to-rent market in recent years, the company has announced intentions to build a scalable technology foundation to enable its efficient, rapid growth in the sector. A first step in Grainger’s digital transformation is to deploy an open and extensible core real estate management platform to automate business processes and enable scalability without increasing administrative overhead. Grainger also needs the ability to easily integrate software from third-party vendors as it continues to build its customer-facing technology solution, complementing MRI’s open software strategy.
Hundreds of British expats like to keep a toehold in their home country by investing in buy to let property. British property offers a stable market, good rental yields and property values that have doubled every 10 years or so. But there are a lot of potential tax traps waiting for the unwary expat property investor. This guide explains what they are and when the money is due.
Lettings market picking up in some residential projects in London
The lettings market in the UK is picking up with one real estate agency reporting the return to competitive bidding on some residential developments to rent in London. Rental prices being achieved on some projects are reaching 5% to 10% higher than anticipated, according to real estate firm JLL which has seen a 40% increase in offers made.
The firm has also seen a 57% increase in applicants registering in March 2018 for rental homes compared with the previous month. According to Lucy Morton, head of residential agency at JLL, it has been an exceptionally busy few months for the lettings teams across all agency offices. ‘Well-presented properties have let with fewer voids than in recent years,’ she said.
She explained that the quality of rental stock has increased considerably, with renting no longer considered the second option but the preferred option for many and some of this may be due to ‘punitive’ changes to stamp duty which have shaped how people are interacting with the property market, most notably at the higher end.
Sean Hannity’s real estate venture linked to fraudulent property dealer
Sean Hannity’s real estate venture bought houses through a property dealer who was involved in a criminal conspiracy to fraudulently obtain foreclosed homes, according to records reviewed by the Guardian. In 2012, a shell company linked to the Fox News host bought 11 homes in Georgia that had been purchased by the dealer, Jeff Brock, following foreclosures. Brock transferred the properties to corporate vehicles that sold them on to the Hannity-linked company at a profit.
Brock pleaded guilty in 2016 to federal charges of bank fraud and conspiracy for his role in an operation to rig foreclosure auctions between 2007 and 2012. He was sentenced to six months in prison and had to pay more than $166,000 in fines and restitution. Some of the houses sold on to the Hannity-linked firm in 2012 had been acquired by Brock from banks later named by prosecutors among his victims. But the justice department declined to identify specific properties sold in the rigged auctions. Hannity has not been accused of any wrongdoing and there is no evidence he was aware that Brock was involved in fraud.
Christopher Reeves, an attorney for Hannity, said the Fox News host was not involved in choosing the houses bought via Brock and “has no knowledge whether these properties were involved in the fraud”. Reeves said neither Hannity nor the company used to buy the properties “had any knowledge regarding Mr Brock’s wrongdoing” before being informed by the Guardian on Monday.