Ayyaz Mirza

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London house prices fall for first time in eight years as rest of UK rises

Average price of home in capital is £471,761, down 0.6% between July and September compared with same period last year<p>London house prices fell for the first time year-on-year since the height of the financial crisis eight years ago, underperforming the rest of the UK, Nationwide has said.<p>The …

Housing

London house prices: Property market takes hit with slowest price rise for five years

ES News Email<p>London’s property market has slowed dramatically with prices rising at their slowest rate for nearly five years, according to latest …

One of the biggest problems with Britain's property market is getting even worse

RICS released its monthly Residential Market Survey overnight, and the results suggest that the availability of housing is at the lowest level ever seen."<p>"Stock levels on estate agents books have subsequently dipped to fresh record lows, with branches (on average) now holding only 43 unsold …

Housing

Revealed: the full shocking extent of the buy-to-let market collapse

New research has exposed the scale of the fall in buy-to-let purchases in the year that the Government hiked stamp duty by 3pc on such transactions.<p>The number of properties sold to buy-to-let investors has fallen 63.7pc in the year to November in England and Wales, according to the estate agency …

London house price growth slows to lowest rate in three years

House price growth in London has slowed to the lowest rate in more than three years, according to research.<p>A report by property market analysts Hometrack found that the rate of house price growth in the 12 months to November in the capital fell to 7.6pc, the lowest level for 39 months, and far …

Teachers priced out of house market as property prices soar to 11 times earnings

As the education secretary calls for a 1% cap on pay rises, new figures show how hard it is for teachers to buy a house across much of Britain<p>Andy Winter, a media teacher from north London, has spent the last three years living on a boat. “It was the only home I could afford to buy,” he says. “I …

Housing

London houses are second most over-valued in world - UBS

‘Bubble index’ rates Vancouver as city with most unsustainable house prices and puts several other cities in middle of bubbles<p>London now has the second most over-valued property market in the world, beaten only by Vancouver in Canada, according to a new “Bubble index” compiled by Swiss bank UBS.<p>Two …

Housing

Decent rental yields and tax-free status means Dubai is still attractive to investors, says Knight Frank

Decent rental yields and tax-free status means Dubai is still attractive to investors, says Knight Frank<p>PHOTO: Residential property prices in Dubai …

Dubai real estate owners can now create online property will

Staff writer<p>Sunday 11 September 2016<p>Real estate owners in Dubai can now protect their assets by creating an online property will.<p>Dubai’s DIFC Wills & …

Landlord mortgages plummet by 85% after stamp duty changes

Surcharge on second homes that came into effect in April led to fewer buy-to-let loans, figures show<p>The number of mortgages taken out by landlords buying new properties plummeted by 85% in April, following the introduction of a new stamp duty rate on second homes.<p>Figure from the Council of Mortgage …

Housing

Dubai Residential Prices Cool Off

Prime values continue to outperform mainstream market<p>Dubai’s residential property prices fell in July on both a monthly and yearly basis, newly …

Real Estate

Dubai Opens the World’s Largest Indoor Theme Park

IMG Worlds of Adventure, which measures 1.5 million square feet, cost developers $1 billion to build<p>Always pushing the boundaries, Dubai is turning heads this month with its record-shattering indoor theme park. The largest of its kind, IMG Worlds of Adventure opened to the public on Wednesday in …

Walt Disney Company

Dubai Finance Hub Defies Global Bank Cuts to Add Positions

Dubai’s International Financial Centre said the number of companies based in the hub rose 16 percent during the first half even as lower oil prices …

Oil

The World's Largest Indoor Theme Park Is Opening in This Middle Eastern City

The world’s largest indoor theme park is set to open in Dubai this month to lure back some of the tourists and residents who often flee abroad during …

Ice Age

House prices to fall 1% in 2017, predicts Countrywide

UK’s biggest estate agent says economic weakness caused by uncertainty following Brexit vote will hit property market<p>House prices will fall next year as the economy weakens following the vote to leave the EU, Britain’s biggest estate agent has predicted.<p>Prices will fall by 1% in 2017 after …

Housing

Summer slowdown hits house prices, but number of rental properties booms

More than £3,600 has been wiped off the average selling price of a home in the last four weeks, as the summer slow down hits larger properties in particular, according to the latest market data.<p>Houses with four bedrooms or more are struggling to sell, remaining on the market for an average of 74 …

Housing

There is now clear evidence that Brexit is hitting London house prices

The UK's vote to leave the European Union helped slice just over £30,000 ($39,194) off the average London property price in July, according to a report from estate agent Haart cited in the Guardian.<p>The average price fell from £558,760 to £527,349 in London, the largest month-on-month decline …

Housing

The world's first hotel complete with rainforest is set to open in Dubai

The first hotel in the world with its own rainforest is set to open in Dubai, complete with artificial beach, and it looks to be the ultimate in luxury accommodation. The five-star Rosemont Hotel & Residences will also feature an adventure play area for children, a bowling alley and a trampoline …

Skyscrapers

Where house prices are falling fastest

Around one in three homes listed for sale has had its original asking price slashed amid signs that sellers have become more willing to offer a …

Those who deny the housing crisis can no longer conceal their idiocy

With each damning housing report, the dinosaurs who refuse to acknowledge facts peel off - especially now problems with affordability are countrywide<p>It is a natural instinct to survive, at any cost. Nature resists extinction: this must be the only possible explanation for the fact that in the …

Housing

Meydan One Will Stand Tall Amidst Dubai's Residential Buildings

Meydan One Will Stand Tall Amidst Dubai’s Residential Buildings<p>Home » Luxury Homes » Meydan One Will Stand Tall Amidst Dubai’s Residential …

UK ‘sailing blindly’ into financial meltdown bigger than 2008, think tank warns

Britain is heading for financial crisis worse than the 2008 collapse and the Bank of England (BoE) is “asleep at the wheel,” a think tank has warned.<p>A devastating report by the Adam Smith Institute (ASI) has blasted the BoE’s stress tests – which are meant to check the resilience of a bank to …

Brexit helps push central London house prices to biggest fall since 2009 | Reuters

LONDON (Reuters) - Britain’s vote to quit the European Union helped push down house prices in London’s most expensive areas at their fastest rate in nearly seven years, accelerating a downward trend caused by increases in property taxes, a consultancy said on Wednesday.<p>A residential street is seen …

Housing

Dubai's skyscraper rainforest will create its own tropical climate

Designed by ZAS Architects Dubai, the US$550 million project (up from an initial cost estimate of $300 million) is described as "a first-in-kind, …

Skyscrapers

£30k was wiped off my house after Brexit and now my mortgage is higher

My partner and I are remortgaging at the moment and since putting in our application before the European referendum, we've been told the value of our …

Calatrava's megatall Dubai tower: engineers complete wind tests and seismic studies

Jul 28, '16 2:05 PM EST<p><i>[...] has completed advanced wind tunnel tests on The Tower at Dubai Creek Harbour, which is set to be 100 metres taller than</i> …

Property fund turmoil has eerie echoes of start of financial crisis

The name “Bear Stearns” is enough to send a shudder down the spine of any investor who survived the financial crisis.<p>The collapse of Lehman Brothers in September 2008 is generally regarded as the moment when the entire financial system almost came crashing down. But it is often forgotten that the …

Bank of England

Asking prices for homes in England and Wales rise to record high

Figures from property website Rightmove show that asking prices are 5.5% higher than in June 2015, at an average of £310,471<p>Asking prices for homes in England and Wales have risen to a new record high, and sales are being agreed quicker than at any point since 2010, according to latest figures from …

Housing

The Brexit effect on UK property will be more devastating than anyone has predicted

While Chancellor George Osborne already warned in May that a Brexit would make house prices crash by 10% to 18%, Mark Burrows and his team at Bernstein say it would be much worse. They think that property prices could crash by as much as 30% — nearly double the upper estimate from the …

Human Geography