Housing market dips on stamp duty return March 4, 2010 THE housing market recovery hit a stumbling block in February as poor weather, more properties being put up for sale and the end of the stamp duty holiday took their toll. House prices dropped 1.5 per cent last month, taking the value of the average home down to £166,587, according to the latest data from [...]
NewRiver seals property joint venture in UK March 1, 2010 PROPERTY investor NewRiver and Morgan Stanley Real Estate Investing have created a joint venture (JV) to acquire UK retail property which has bought its first portfolio for £49m. The NewRiver Retail Investments deal capacity is more than £250m under the JV. Both NewRiver and Morgan Stanley Real Estate Investing have committed equity capital, and the [...]
UK housing recovery running out of steam March 4, 2010 THERE were yet further concerns yesterday over a double-dip downturn in the UK housing market when mortgage lender Halifax reported that house prices fell 1.5 per cent in February, the first decline in this index since last June. The survey, which comes just days after Nationwide reported that UK property prices fell one per cent, [...]
Economic Diary March 7, 2010 IT IS a busy week ahead on the economics front once again. While last week was dominated by central bank decisions from across the world and independent surveys, this week we will see a slew of statistics that may or may not confirm rebounding consumer confidence and output. UK February Sales figures due In the [...]
Looming hike in capital gains tax is fuelling investor panic May 23, 2010 HIGH-EARNING investors are rushing to sell off assets that will attract Capital Gains Tax (CGT) before next month’s emergency Budget due to indications that CGT rates could shoot up from 18 per cent to as much as 50 per cent. Gains on non-business assets now look set to be taxed in line – or close [...]
Irish government will throw even more money at its banks February 9, 2010 THE Irish government will throw more money at its financial system as part of its “bad banks” project. Governor of the Irish central bank Patrick Honohan said yesterday the government will have to take additional equity stakes as part of the recapitilisation process. Bank of Ireland and Allied Irish Banks will need fresh capital once [...]
There’s money to be made in London bricks and mortar January 31, 2010 ONLY a year ago, property prices were plummeting across the country. But news on Friday from mortgage lender Nationwide that UK house prices surged 1.2 per cent this month – the biggest monthly rise since August and a number that beat expectations of a meagre 0.3 per cent gain – was cause for optimism. The [...]
Metro Bank in hiring drive February 22, 2010 METRO Bank, the new high street lender set up by US billionaire Vernon Hill, has selected a team of City veterans as non-executive directors to beef up its board, ahead of an imminent final decision from the Financial Services Authority (FSA) on its banking licence. The bank – which is led by Financial Services Forum [...]
Bridgepoint snaps up health and social care firm Care UK for £281m in cash March 3, 2010 PRIVATE equity group Bridgepoint Capital yesterday unveiled a recommended cash bid for elderly and health care provider Care UK, valuing the company at £281m. Bridgepoint, which launched the bid through newly-created vehicle Warwick Bidco, is offering 450p for each Care UK share, a 9.2 per cent premium to the share price at the close of [...]
Housing market rebound starts to run out of steam February 4, 2010 HOUSE PRICES continued to rise in January but the pace of growth fell to its slowest level in six months, mortgage lender Halifax said yesterday, reiterating its view that UK property prices would remain flat in 2010. The monthly survey showed that house prices rose 0.6 per cent on the month in January, taking the [...]