Real Estate News Roundup - November 2021

Posted Tuesday 7th December 2021

new build homes

Supply of new housing seems to be going in wrong direction

Despite the property sector booming with the introduction of the stamp duty holiday, annual housing supply of new dwellings is down 11% on 2020. According to the latest data, levels of housing supply isn’t growing but shrinking.

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Mortgage approvals down following stamp duty holiday

Following the end of the stamp duty holiday, mortgage approvals have dropped significantly. Appraisals remained above the pre-covid levels but net borrowing is at its lowest since July 2021. All this despite interest rates staying low.

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House of Fraser shutting flagship store on Oxford St

Oxford Street is being shaken up with news that House of Fraser is set to close its flagship for good. After being served notice from the retailer’s landlord the building has been given the go ahead for redevelopment.

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Hotels finally beginning to recover from Covid

Hotels have felt the effects of the pandemic more than many other industries but there is some good news. Levels of festive bookings are strong with occupancy rates rising across the last couple of months.

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Commercial landlords finally getting paid

Positive news for landlords as recent data by Re-Leased shows that rent collection of commercial space over the last quarter was at its highest level since pre-pandemic. Including in retail!

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This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.

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