A sign of things to come? Mortgage approvals fall in November, although consumers are still borrowing at ultra-low rates December 28, 2016 Mortgage approvals are nine per cent lower than the same point last year, but UK consumers were still borrowing to power the economy in the five months after EU referendum. The number of house purchase mortgage approvals fell slightly in November to 40,659, down from 40,835 in October, according to the British Bankers’ Association (BBA), [...]
Bovis shares are down after it admitted housebuilding slowed at the end of this year December 28, 2016 Shares in Bovis fell this morning, after it admitted it completed on fewer homes than expected at the end of this year. Shares were down 4.9 per cent at 814.5p in early trading, after the housebuilder said it expected volume delivery for 2016 to be lower than previously expected, at between 3,950 and 4,000 homes, with 180 completions [...]
House prices to stop tumbling in central London next year, according to chartered surveyors December 21, 2016 UK house prices are set to rise by three per cent next year and central London prices will stop falling as they have done throughout this year, according to chartered surveyors. The Royal Institution of Chartered Surveyors (Rics) has predicted that house prices will continue to rise on the back of a shortage of housing [...]
Estate agent numbers fell in four out of ten London boroughs this year December 20, 2016 Estate agents have been dropping off the high streets of four in ten London boroughs. As the Brexit vote bites, and stamp duty taxes weigh on the upper end of the capital's property market, estate agents in some boroughs have been struggling. Read more: This is where house prices have increased the most this year [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
This is what will happen to rents next year December 19, 2016 It has been an eventful year for landlords. They have been under intense pressure from the government in 2016, starting in April, when former chancellor George Osborne's stamp duty hike on second homes came into effect. Then, when Philip Hammond took over, he used his first Autumn Statement to ban letting agents' fees for tenants, saying [...]
Russell & Bromley quaking in its boots as profits take a beating December 18, 2016 Shoe shop Russell & Bromley has taken an axe to its dividend after profits fell by more than 12 per cent last year. Accounts recently filed at Companies House show the Kent-based footwear purveyor plans to give its dividend a £3m haircut to £11m after profits and revenue took a hit. Last year Russell & [...]
Another miss for London’s IPO market? Parkdean Resorts sold to Canadian private equity house December 18, 2016 A Canadian private equity house this weekend announced the acquisition of a UK caravan holiday parks operator, in a deal that could be seen as another loss for London’s flotation market. Toronto-based Onex Corporation has agreed a £1.35bn deal for Parkdean Resorts, which is currently owned by Epiris, formerly known as Electra, and Alchemy. The [...]
One in five first time buyers have been given a hand by Help to Buy December 15, 2016 One in five house purchases made by first time buyers are now being supported by the government's Help to Buy Isa. The scheme, which was started on 1 December last year, gives aspiring home owners a 25 per cent boost to their savings when buying a property worth £250,000 or less. The price limit rises to [...]
Lingerie brand Bluebella secures £1m through crowdfunding for US expansion December 14, 2016 The British brand which created the official Fifty Shades of Grey lingerie has raised £1m – double its original target – in a crowdfunding campaign. Bluebella turned to its fans for help funding an expansion to the US, and reached a grand total of £1,088,700 by the time the campaign ended. Founder Emily Bendell said: [...]