Housing market at the forefront of UK’s economic revival, says minister May 13, 2020 The housing market will be key to reviving the British economy and needed to be re-opened, according to housing secretary Robert Jenrick. At today’s press briefing, Jenrick said the “pressure for some to move was becoming acute”, with the government estimating that 450,000 buyers and renters have been unable to move house since March. The [...]
Halifax: UK house prices suffer longest fall since 2010 July 7, 2020 UK house prices fell for the fourth month in a row in June for the first time since 2010, according to Halifax data released today. Unlike rival Nationwide, which found the value of homes shrank for the first time on an annual basis in June, Halifax recorded a 2.5 per cent-year-on-year rise. But as the [...]
Government urged to help property market recover amid UK house price slump May 14, 2020 The government has been urged to provide measures to help the property market to recover, after the latest research warned that UK house prices are set to plunge this year. The Royal Institution of Chartered Surveyors (Rics) reiterated its call for a stamp duty holiday to encourage buyers , warning that UK house prices were [...]
It’s official: Coronavirus killed UK house prices’ Brexit recovery April 22, 2020 Signs of recovery in UK house prices at the start of the year have been brought to an abrupt halt by the coronavirus crisis. Figures from the Land Registry and the ONS show inflation fell back to 1.1 per cent in February after climbing to an eight-month high of 1.5 per cent in January. The [...]
Mulberry swings to full year loss as coronavirus shuts down high street October 5, 2020 Fashion house Mulberry fell to a £14.2m loss in the last financial year, the firm announced today, as the coronavirus pandemic derailed the firm in its final month of trading. The firm said that it had been on course to report a profit for the second half of the year before the virus shut down [...]
Watchdog opens probe into major homebuilders over leasehold practices September 4, 2020 The Competition and Markets Authority (CMA) today said it was opening enforcement cases against four of the UK’s biggest housebuilders over suspicions they may have broken consumer protection law in relation to leasehold homes. The CMA today said it was opening enforcement actions focusing on the practices of Barratt Developments, Countryside Properties, Persimmon Homes and [...]
Coronavirus: Housebuilder MJ Gleeson temporarily lays off 76 per cent of staff April 6, 2020 Housebuilder MJ Gleeson has temporarily laid off 76 per cent of its workforce after it was forced to close building sites and sales offices due to the outbreak of coronavirus. In total 456 employees will be furloughed in line with the government’s Job Retention Scheme, and will receive between 80 per cent to 95 per [...]
Oracle confirms Tiktok deal as US officials step in for review September 14, 2020 Oracle has confirmed it is part of a deal to sign a partnership agreement with hit video app Tiktok, after its Chinese owner Bytedance rejected a rival takeover bid from Microsoft. Bytedance had been exploring a sale of its US business after US President Donald Trump threatened to shut down the app amid concerns about [...]
Trump to allow oil drilling in Arctic National Wildlife Refuge for first time in 30 years August 17, 2020 The Trump administration today finalised plans to auction off the rights to drill for oil and gas in one of the country’s most iconic wild places. The 1.6m acre coastal plain at the Arctic National Wildlife Refuge will be leased to the highest bidder in a move that sees US President Donald Trump continue to [...]
Foxtons targets £22m equity raise amid London house prices blow April 17, 2020 Foxtons estate agent has proposed a major £22m share sale representing about 20 per cent of issued stock as it furloughs staff. The £22m equity raise will allow Foxtons to repay its revolving credit facility and to boost its liquidity in the face of the coronavirus shutdown. The share sale would bolster its cash balance [...]