Redrow boss calls for government to release green belt land February 8, 2017 Redrow chief executive John Tutte has said the government should have unlocked more greenbelt land for development in the housing white paper. Speaking to City A.M., Tutte said: "Controversially, we would have liked to have seen something more forceful on releasing the green belt. "It isn't all rolling countryside." His comments come after communities secretary Sajid [...]
St Modwen has found a buyer for its Nine Elms site February 7, 2017 St Modwen's share price climbed today after it said it had found a purchaser for its Nine Elms site. The developer's share price was up two per cent at time of writing – even though the company also reported a slide in profits. The figures In its results for the year ending 30 November, St [...]
Tata Steel has returned to profit in its fourth quarter results February 7, 2017 India's Tata Steel reported its first profit in five quarters, beating analyst expectations for its fourth quarter. The figures The steel giant said it had a consolidated net profit of 2.32bn rupees (£27.8m) for the three months to 31 December compared with a loss of 27.48bn rupees the previous year. Analysts were estimating 1.74bn rupees [...]
Bellway boosted by strong affordable housing demand in London February 7, 2017 Bellway's share price has climbed three per cent this morning after the company reported a boost in sales due to a "significant" requirement for affordable housing in London. The figures Bellway increased its housing completions by 6.5 per cent for the six months ending 31 January; volumes reached 4,462, up from 4,188 during the same [...]
This is how far house prices fell in January February 7, 2017 House prices fell month-on-month in January, reversing the strong house price growth recorded at the end of last year. According to Halifax's house price index, house prices fell 0.9 per cent last month. Year-on-year growth was 5.7 per cent, down from an annual growth of 6.5 per cent in December. Read more: This is how [...]
We’ll never solve the housing crisis if we continue to blame it on house-builders and migrants February 7, 2017 England's housing disaster is well-publicised. Construction has not kept pace with demographic change and successive governments have failed to address the consequences. The hotly-anticipated housing White Paper, out today, will sound an attempt to address this and some backlash against its proposals seems inevitable. It’s commonplace for us to blame greedy house-builders or uncontrolled immigration, [...]
Consumer credit growth and the flashing light marked ‘car financing’ February 6, 2017 Last month, the Financial Times highlighted two “remarkable and unexpected” features of the post-Brexit UK economy – consumer spending accelerated in the second half of last year and much of this was financed by a surge in borrowing. According to the Bank of England, the article continued, consumer credit grew at an annual rate [...]
Watch news: Omega’s new hashtag-inspired timepiece and a Tudor for lefties February 6, 2017 The hashtag that Omega Built The story could well be titled “Swiss watch brand in social-media savvy shocker”. Because Omega has gone and launched a watch based on an Instagram hashtag. Since 2012, thanks to Fratello Watches founder Robert-Jan Broer, fans of Omega’s Speedmaster chronograph (NASA’s preferred wristwatch, no less) have been sharing pictures of [...]
Consumer credit growth and the flashing light marked ‘car financing’ February 6, 2017 Last month, the Financial Times highlighted two “remarkable and unexpected” features of the post-Brexit UK economy – consumer spending accelerated in the second half of last year and much of this was financed by a surge in borrowing. According to the Bank of England, the article continued, consumer credit grew at an annual rate of [...]
BrightHouse in bid for favour with watchdog February 5, 2017 ELECTRICALS rent-to-own retailer BrightHouse has put forward reform plans to the Financial Conduct Authority (FCA) in a bid to save its reputation with the watchdog. The FCA is scrutinising a business plan from BrightHouse and will be deciding whether the retailer should be allowed to continue lending. The retailer allows shoppers to pay for goods, [...]