Real estate news

Woking council may face £1bn hit from property investment spree

06-06-2023 20:25

Figures suggest insolvency-threatened council in Surrey faces huge write-down on its assetsWoking council risks a financial hit worth £1bn amid a government investigation into the local authority’s debt-fuelled investment spree in hotels and skyscrapers.The Surrey council is on the brink of insolvency, with a possible section 114 notice, signalling it cannot balance its budget, believed to be imminent. Continue reading...

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Half of big international firms to cut office space in next three years – survey

06-06-2023 13:52

Survey of 350 businesses shows 56% favour hybrid workingHalf of the largest international employers are planning to cut their office space in the next three years, according to a survey, as they struggle to manage the complex nature of the post-Covid workplace.The survey of 350 businesses by property consultants Knight Frank and commercial real estate firm Cresa found that 50% the largest businesses they questioned – those with more than 50,000 employees – expect to shrink their glob

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Housebuilders cut back on construction as UK mortgage rate rises spook buyers

06-06-2023 12:56

Work on residential building sites slips in May to weakest level since 2009UK banks pull hundreds more mortgage deals as fixed rates riseBritain’s housebuilders are cutting back on the construction of new homes amid signs that potential buyers are being spooked by the prospect of fresh increases in mortgage rates over the coming months.The latest report on the construction sector found that work on residential building sites slipped in May to the weakest level since 2009, apart from when s

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Home Depot is selling tiny homes you can build yourself for less than $50,000

06-06-2023 01:15

The homes are advertised as ‘resilient to extreme weather’ and also keep out insects and rodents, according to manufacturer Plus 1Home Depot has quietly entered the real estate market.The US home improvement store giant appeared to debut its new tiny home or “getaway pad”, by home-kit manufacturing company Plus 1, last year, and it’s currently garnering traction on social media as a possible solution to unaffordable housing and property damage caused by the climate

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