JLL Residential

News & Opinion

JLL comments on Bank of England's decision to reduce interest rates

Commenting on the decision to cut the interest rate to 0.25% and a range of measures to stimulate the UK economy, Andrew Burrell, Head of Forecasting at JLL, comments: "The Bank’s interest rate cut was widely expected after July’s disappointment. Other measures, including £70bn of new asset purchases, were more of a surprise, but still in line with previous hints by Governor Carney. It will be some time before the economic impact of these measures can be judged, but the announcement will help reassure investors and occupiers at a time of intense uncertainty."

JLL advises LaSalle on the acquisition of PRC scheme for c. £110m from Renaker

LaSalle Investment Management, the leading real estate investment manager, advised by JLL, has agreed to acquire 497 build to rent apartments in Manchester, for around £110 million from Renaker Build, the region’s leading residential developer.

The development, known as Greengate is located in the historic heart of Salford, close to Manchester city centre, is designed by OMI Architects and comprises high specification apartments split across two residential towers of 21 and 31 storeys.

JLL responds to the Bank of England's decision not to cut the interest base rate

Commenting on the Bank of England’s decision not to cut the interest base rate, Adam Challis - Head of Residential Research at JLL says: "Today's rate hold suggests the Bank of England's Monetary Policy Committee did not see the need, or benefit of a rate cut.

"We did not expect mortgage lenders to pass on the rate cut to borrowers and it may be that the MPC decided not to trade off this limited benefit, against further pain for savers."

Brexit: Waiting for the dust to settle

The aftermath of the Brexit decision has been difficult for many in the property industry. Our latest research report considers some of the early implications for UK residential delivery. There will be structural and lasting shifts for the market, which as ever will represent both challenges and opportunities for many.

JLL Nine Elms grows residential offering with move into new offices

On the back of the success of JLL’s Nine Elms office, which first opened in August 2015, JLL’s Nine Elms residential team are now moving into larger, permanent premises located underneath 4 Riverlight Quay. At the same time, JLL Nine Elms will be growing its residential lettings team with the addition of a new lettings negotiator.

W.A.Ellis-JLL sponsor Garden House School's £250,000 chairty quiz night

For the second successive year, W.A.Ellis-JLL were one of the headline sponsors for the Garden House School (Chelsea) Charity Quiz Night. The evening was attended by over 350 parents from one of the top nursery/pre-prep schools in the country and raised a staggering £250,000 for the chosen charity, The Book Trust.

JLL Residential reacts to EU Referendum result

A Vote Leave result brings an unprecedented new dawn for Britain, with uncertainty over the likely impacts for the short term. This will bring both risks and opportunities.
 
On the downside, we expect an immediate slowdown in housing market transactions, while discretionary purchasers take stock and vendors delay on decisions to sell.

JLL dispose of prime residential site in Reading

Acting on behalf of TH Real Estate, the Residential Land team at JLL has sold an 8 acre prime development site at Kenavon Drive in Reading to L&Q.

Prime Central London Lettings Comment - May 2016

Uncertainty over Brexit has been hitting prime central London landlords hard, with rents being adversely affected. There are reports of recruitment freezes across the city and firms delaying relocating staff to London to see what awaits the UK post-referendum on 23rd June. This of course has had an impact on prices.

Prime Central London Sales Comment - May 2016

HMRC revealed this week that across the UK just 70,690 residential properties were sold in April, compared with 173,430 in March – when the Government collected a record of nearly £1.2 billion in Stamp Duty as landlords rushed to beat higher Stamp Duty rates on second homes.

Average London couple unable to buy starter home until 2028

A couple in their twenties, with no savings, earning average London salaries of £28,130 will be unable to accrue a sufficient deposit to secure a mortgage for a £450,000 maximum price Starter Home in London until 2028.

The generational differences that determine people’s housing prospects in the UK

There are now striking generational differences that determine people’s housing prospects in the UK. Of the circa 25 million homes in the country, 64% are owner occupied with the remainder being affordable and private rented homes. The highest percentage of ownership by age is in the over 65s group in which 76% own their home. In light of influences from the economy and government policy, JLL conducted research into the current housing trends impacting each generation.

JLL Residential responds to Sadiq Khan becoming new Mayor of London

Sadiq Khan has said he will introduce a 50 per cent affordable housing target for new developments, and to use mayoral planning powers to stop 'buy-to-leave'. He has also vowed to stop homes being sold off in advance to foreign investors. In reality, however, there is little evidence of 'buy to leave' actually happening, and restricting demand is a quick way to compromise the viability and deliverability of new developments.

Buy to Let investors storm the market ahead of 3% stamp duty increase

A rush of buy-to-let investors has resulted in a spike in UK housing transactions in March. According to data released today by HMRC, almost 162,000 transactions were recorded in March.

JLL comments on changes made to the Housing Bill in the House of Lords

Adam Challis, Head of Residential Research at JLL comments: "Amendments to the Housing and Planning Bill in the House of Lords have made bad policy even more damaging to the affordable housing sector."