Loan provisions hammer profit for Santander April 26, 2012 SANTANDER has blamed Spain’s new property loan rules for a 24 per cent slump in profit for the first quarter of the year. Spain’s biggest bank posted a net profit of €1.6bn, after setting aside €3.13bn to cover non-performing loans, most of which was required under the Spanish government’s plan to get a handle on [...]
Irish Life & Permanent losses widen April 2, 2012 Irish Life & Permanent’s banking arm reported a wider full-year loss due to soaring impairment charges ahead of a split from the group’s life division and a government decision on whether it can remain as a standalone lender. Once lauded as the only Irish lender to avoid a state bailout due to its lack of [...]
Jump in adults priced out of flying the nest May 29, 2012 SOARING rents and large deposits are making it increasingly difficult for young people to buy a home, industry data showed yesterday. Figures from the Office for National Statistics (ONS) recorded a 20 per cent jump in the number of young adults living with their parents since 1997, while figures from Rightmove showed that 30 per [...]
London’s property prices keep rising on sustained low supply April 15, 2012 London’s house prices hit a record high in April while rents are set to keep soaring through 2012, two reports show today. The average asking price of a property in the capital rose to £464,944, up 2.1 per cent on the month and 7.9 per cent on the £431,013 seen last April, according to Rightmove’s [...]
London’s property prices keep rising on sustained low supply April 15, 2012 London’s house prices hit a record high in April while rents are set to keep soaring through 2012, two reports show today. The average asking price of a property in the capital rose to £464,944, up 2.1 per cent on the month and 7.9 per cent on the £431,013 seen last April, according to Rightmove’s [...]
Wall Street expected to see revenues rise April 15, 2012 GOLDMAN Sachs is expected to see a bounceback in revenues when it reports its first-quarter results tomorrow, with analysts predicting that the bank’s revenues will rise to $9.3bn (£5.9bn) versus $6bn in the fourth quarter of 2011. Analysts have been revising their price targets for Wall Street banks upwards ahead of a week of US [...]
Credit easing targets SMEs March 21, 2012 THE CHANCELLOR officially launched his flagship credit easing scheme in yesterday’s Budget, making £5bn of guarantees available for banks to pass on a subsidy to small businesses. But it also emerged that some banks are setting a minimum floor of £25,000 for loans available through the scheme, cutting out access for many “micro-businesses” that the [...]
House price slump not finished yet March 6, 2012 HOUSE prices fell again in February, reversing January’s rise and continuing the slow downward trend of the year. Prices dropped 0.5 per cent in the month, following January’s 0.6 per cent rise, taking the average price to £160,118. Over the last three months, prices are down 1.1 per cent, and 1.9 per cent on February [...]
Rental sector needs million new homes March 26, 2012 AN EXTRA one million new homes are needed for Britain’s rental sector, a survey revealed this morning, as a shortage of properties sends costs rocketing for tenants. Rents have shot up by an average of 5.2 per cent over the last year, with Savills expecting an eye-watering 20 per cent spike over the next five [...]
THE LONDON BAROMETER March 8, 2012 SALES DIRECTOR OF DOUGLAS & GORDON In D&G land, February saw the lowest levels of available properties since December 2009 as a result of consumer confidence remaining low, a lack of job security and a knock on affect from economic turmoil in Europe, whilst the number of prospective buyers registering is still at an all-time [...]