Good morning.
“Actions speak louder than words, so where are the actions?” The responses to EG’s second Race Diversity in Real Estate survey show that little – if any – progress has been made.
The talk and the promise of “hard action” has proven to be exactly that – talk and a promise. Now we need action, says EG’s editor.
House prices(£) rose by an unexpected 2.1% in August(£), meaning the average home is 11% more expensive than a year ago.
Permanent homes(£) have so far been found for half of the 8,000 refugees fleeing Afghanistan to England.
A consortium made up of Maven Capital, IPIM and Glenmore have appointed Knight Frank to sell Trium, a portfolio of 619 student beds, for £84.1m.
And Grainger is piecing together a further £360m war chest to expand its BTR pipeline.
But owners of flats with dangerous cladding(£) are slashing asking prices to the bone.
The shortage of care home beds(£) is growing more acute, with campaigners saying every bed in the country will be needed for people with dementia with a decade. And 100,000 will have to go without.
Shares in hotel group PPHE fell by nearly 5% yesterday on news that its revenue had continued to fall in the last six months.
And, icymi, Abrdn is heading to a new London HQ at Duo Spitalfields, EC2.
Former HSBC boss John Flint has been appointed as the first head of the UK Infrastructure Bank(£).
As Huw Pill is appointed chief economist at the Bank of England.
And while George Monbiot in The Guardian points out that we can’t build our way out of the environmental crisis…
… scientists have developed a new wooden flooring that can turn footsteps into electricity.
And finally, are you longing for a return to lockdown? You could buy Britain’s most isolated home. Skiddaw House in Cumbria has gone on the market with a £1.5m price tag and a five-mile trek to the nearest neighbour. Might be a bit tricky working from home, though. The house has no internet. Or phone, for that matter. Or electricity.
For those who have fallen in love with WFH, why not join the herd and move to Cornwall? The prices may have gone mad, but for just £100,000 you can buy a small but well-located pied-à-terre in St Ives. It might be tiny – just 5m by 2m – but it is only a short stroll from its electric wooden doors to Porthmeor Beach, and mere minutes from the Tate gallery and harbour and the service charge is a mere £400 a year. Hang on, that’s not a flat. It’s a parking space for a car(£). As you were.
