London Outbound Migration at Record Levels, Home Affordability Key Driver

worldpropertyjournal | June 27, 2019

London Outbound Migration at Record Levels, Home Affordability Key Driver
According to UK's Office for National Statistics, which tracks internal moves within the UK, migration from London to other parts of the UK reached its highest ever level in 2018. International property consultant Knight Frank reports Scotland was the most popular destination for London leavers, though there is no breakdown of where specifically individuals moved within the country. Birmingham was the most popular destination with England, followed by Brighton and Hove, Thurrock and Bristol. Relative housing affordability is likely to have influenced the decision of some to leave London," said Oliver Knight, an Associate in the Knight Frank residential research team. "As will the desire and opportunity to 'trade up the housing ladder'. The flow of families out of London forms a natural part of any city's life cycle, but increased employment opportunities in cities such as Birmingham and Manchester also act as a draw. Improvements to transport infrastructure, including the Elizabeth Line and HS2 will extend the scale of the commuter zone. Some 340,500 Londoners left the capital for another destination within the UK in the year to June 2018, 1.3% higher than in 2017.

Spotlight

Drawing on the historical trajectory and evolution of several of today’s most promising technologies, this white paper addresses automation and the future of work; business disruption via technologically driven process innovation; and the corresponding evolution of property, location and services to adapt to these changes. Highlighted technologies include: open-source platforms, distributed ledgers (blockchain), e-commerce and fintech, big data, artificial intelligence and cyber-physical systems (through the lens of autonomous vehicles). What these technologies have in common is that they operate through distributed networks and, as a result, redistribute places where work gets done. This white paper is the second in a series examining emerging technologies, particularly those that are relevant to the real estate sector.

Related News

Turnbridge Equities Completes Recapitalization of Bronx Logistics Center With Joint Venture Partner Dune Real Estate Partners LP

prnewswire | September 08, 2020

Turnbridge Equities (Turnbridge), a vertically integrated real estate investment and development firm, announced the recapitalization of the Bronx Logistics Center, a Class-A industrial development site situated on 14.2 acres in the Hunts Point submarket of New York City. Bronx Logistics Center is expected to be one of the largest multi-story, last mile distribution facilities in the region when complete, and is currently the only planned industrial development site in the New York City market with available rail access. As part of the recapitalization, Turnbridge entered into a new joint venture with affiliates of Dune Real Estate Partners LP (Dune) to own and develop the five parcel assemblage. The joint venture simultaneously secured $105 million in predevelopment financing for the project with J.P.

Read More

REAL ESTATE TECHNOLOGY

AllianceBernstein Announces First Closing of New Commercial Real Estate Debt Fund in the United States

AllianceBernstein | March 11, 2021

AllianceBernstein L.P. ("Stomach muscle") (NYSE: AB), has effectively finished the principal shutting of its fourth US Commercial Real Estate Debt reserve ("CRED IV"). This elective asset has so far got almost $900mm in capital responsibilities. Fair will fill in as a lead financial backer, proceeding with the solid association among AB and Equitable as AB grows its options stage. CRED IV is a continuation of the temporary land loaning methodology effectively carried out by past AB CRED reserves. CRED IV will straightforwardly start gliding rate first home loan entire credits got by top notch, momentary US business land. Those credits are hung on an unleveraged premise. The foundation of CRED reserves has begun more than 100 advances and brought almost $7bn up in capital responsibilities from institutional financial backers worldwide since the dispatch of the technique in 2013. The fruitful first close of CRED IV is further exhibition of AB's capacity to raise huge capital for its quickly developing private choices stage, in spite of the difficulties presented by COVID-19. The nearby follows rapidly on AB's declaration in Q4 of a year ago of the dispatch of its new European Commercial Real Estate Debt ("ECRED") stage. ECRED, drove by industry veteran Clark Coffee, dispatched with almost €1.5bn in capital, making it one of the biggest land dispatches in Europe as of late. The ECRED stage hopes to declare its first credit beginning since joining AB in the coming weeks.

Read More

REAL ESTATE INVESTMENT

Zillow Group Closes Acquisition of ShowingTime, the Industry Leader in Home Touring Technology

Zillow Group | October 04, 2021

Zillow Group (NASDAQ: Z and ZG), which is transforming the way people buy, sell, rent and finance homes, today announced the closing of its acquisition of ShowingTime, an online scheduling platform for home showings. Touring is one of the most important steps in the home shopping and selling journey, and ShowingTime's technology has streamlined and improved the touring experience. The company is an industry leader, and Zillow Group will continue to invest in ShowingTime to improve its functionality. ShowingTime's technology coordinates scheduling behind the scenes so agents can seamlessly book a confirmed home showing online and focus on their clients, simplifying a traditionally complicated and cumbersome process. In the past 12 months, the company has facilitated more than 63 million showings across its network of more than one million agents affiliated with hundreds of Multiple Listing Services (MLSs). Under the Zillow Group umbrella, Zillow Group will adhere to ShowingTime's existing privacy policy, and it will continue to operate as an individual brand and open platform for its existing and new clients, so the industry can continue to benefit from a simplified tour scheduling experience. Zillow Group entered into a definitive agreement to acquire ShowingTime in February 2021 for $500 million. The transaction was successfully closed upon meeting customary closing conditions. About Zillow Group: Zillow Group, Inc. (NASDAQ: Z and ZG) is reimagining real estate to make it easier to unlock life's next chapter. As the most visited real estate website in the United States, Zillow® and its affiliates offer customers an on-demand experience for selling, buying, renting or financing with transparency and nearly seamless end-to-end service. Zillow Offers® buys and sells homes directly in dozens of markets across the country, allowing sellers control over their timeline. Zillow Home Loans™, our affiliate lender, provides our customers with an easy option to get pre-approved and secure financing for their next home purchase. In September 2020, Zillow launched Zillow Homes, Inc., a licensed brokerage entity, to streamline Zillow Offers transactions. Zillow Group's affiliates and subsidiaries include Zillow®, Zillow Offers®, Zillow Premier Agent®, Zillow Home Loans™, Zillow Closing Services™, Zillow Homes, Inc., Trulia®, Out East®, ShowingTime, Bridge Interactive, dotloop, StreetEasy®, HotPads®. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 About ShowingTime: ShowingTime is the industry leader in home touring technology and a proud affiliate of Zillow Group. ShowingTime's technology and services simplify the online tour scheduling process for buyers, sellers and agents across the industry. ShowingTime products are used in hundreds of MLSs representing more than one million real estate professionals across the U.S. and Canada.

Read More

Spotlight

Drawing on the historical trajectory and evolution of several of today’s most promising technologies, this white paper addresses automation and the future of work; business disruption via technologically driven process innovation; and the corresponding evolution of property, location and services to adapt to these changes. Highlighted technologies include: open-source platforms, distributed ledgers (blockchain), e-commerce and fintech, big data, artificial intelligence and cyber-physical systems (through the lens of autonomous vehicles). What these technologies have in common is that they operate through distributed networks and, as a result, redistribute places where work gets done. This white paper is the second in a series examining emerging technologies, particularly those that are relevant to the real estate sector.