Brits start buying property in Spain again
Brits are beginning to buy property again in Spain following the financial crisis, when the number dropped hugely. Most of the properties are being bought in the Costa Blanca, followed by the Costa del Sol, Balearic Islands, and the Canaries. Prices are up 4.2% in the last three months and are expected to continue to rise across the next five years.
Source: The Express
Property in the East of England rising at double the rate of the national average
Reports show that the East of England is seeing the largest amount of annual growth with property prices up 8.4% from last year, bringing the average price of property in the East up to £210,042, though this is still £282,984 cheaper than the average house price in London.
Source: Daily Mail
Barking and Dagenham council set up as a private landlord.
In a bid to help tackle London’s housing crisis, Barking and Dagenham council have bought a block of 144 flats that it plans to rent out to private tenants - who earn less than £66,000 a year - at below market rate this month. The council intends to bring in another 1000 flats into this private rental scheme in the next three years.
Source: The Guardian
Leader of Shoreditch anti-gentrification riot lives in £600,000 flat built on the site of the former site of a council block
A leader of the anti-gentrification protest, which marched on Shoreditch last week, threw paint on a cereal café and smashed the window of a high street estate agent, lives in a property worth £600,000. To rub salt into the wound he made £35,000 profit on his home in Kennington which was built by developers on the site of a former council block.
Source: The Daily Mail
First floor London flats in highest demand
Almost two thirds of Londoners would rather live in a flat on the first floor, resulting in prices being pushed up for ground floor flats in comparison with identical flats on other floors. Rokstone reported that ground floor flats have a 50% premium, though penthouse flats can be worth up to six times more than other apartments.
Source: City AM
Hamburg using commercial property to house refugees
Hamburg has passed a law that allows empty commercial properties to be seized and used to house migrants. With Germany expecting at least 800,000 refugees to come to the country this year, the law comes into effect this week and can be used as emergency measures temporarily, with owners of the property being compensated.