House prices rise for third month November 29, 2011 House prices edged up in November, beating expectations and despite a weak economy, but activity remains subdued and prices are more likely to dip in the next 12 months, mortgage lender Nationwide said. House prices rose 0.4 per cent from October on a seasonally adjusted basis, their third straight monthly increase, a Nationwide survey showed. [...]
Italian gold may be just the job to save the day: A mini solution to Italy’s debt crisis November 10, 2011 GETTING the gold out of Italy isn’t easy. Just ask Michael Caine. However, if as some commentators are now speculating, there is no other option, the only thing worse than trying to sneak it out in a coach along treacherous Alpine roads would be trying to sell it. The odds of getting anything close to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 15, 2011 FINANCIAL TIMES CVC STRUGGLES WITH TERRIBLE RESULTS IN ASIA When CVC raised a $4.12bn Asian buy-out fund in 2008, Marc St John, its head of investor relations, referred to the private equity group’s record in the region when he said investors “like what they see”. A few years and a financial crisis later, investors are [...]
Rail fares wipe benefit of commuting October 2, 2011 The projected eight per cent rise in rail fares next year looks set to tip the balance of affordability against young professional families and first time city buyers seeking to move out of London. Research from home finders County Homesearch found the combined cost of travel season tickets and mortgage repayments for homeowners in commuter [...]
Bellway upbeat as home sales and orders rise June 10, 2011 House developer Bellway has posted a better than expected view of its market, describing its spring selling as “healthy”. Its average home unit sales rate was 111 properties per week in the four months to the end of May, up nine per cent on the same period in 2010. Average selling prices were up four [...]
COMEBACK KID December 14, 2011 THE EXHAUSTED boss of Lloyds Banking Group is to jump back in the saddle of the beleaguered lender after doctors said he made a “full recovery”, chairman Sir Win Bischoff has announced. The bank also said that it has entered exclusive talks with the Co-operative Group over the sale of 632 branches, leaving rival bidder [...]
Nationwide grows despite tough market May 25, 2011 NATIONWIDE Building Society gained market share and grew underlying profits by almost a third in the past year despite ongoing housing market stagnation, it said yesterday. Nationwide, the UK’s biggest building society, turned a £276m underlying profit in the year to April, up from £212m in April 2010, against a backdrop of low growth in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 19, 2011 FINACIAL TIMES NETWORK RAIL WARNED OVER BONUSES Senior management at Network Rail should forget about bonuses next year, Justine Greening, the transport secretary, said on yesterday. She was speaking after the Office of Rail Regulation (ORR) found that the owner of Britain’s railway infrastructure had failed to meet its punctuality targets and was in breach [...]
Meccano-set towers: how London offices are evolving January 15, 2012 JE ne regrette rien. That is the message from Chris Grigg when we discuss his decision to quit banking in 2008 to take the reins at commercial property giant British Land. At the time, many in the City thought the former head of Barclays’ commercial bank was simply quitting one troubled industry for another; his [...]
Don’t let builders be the only beneficiaries March 28, 2011 Housebuilding companies have rallied since news in last week’s budget that £250m would be made available to help first time buyers get onto the property ladder. Dubbed Firstbuy Direct, the scheme will give those below a certain income threshold access to a 25 per cent equity loan to cover the deposit on a new home. [...]