Labour shortages are casting a shadow over the UK property market June 14, 2016 Housebuilders are convinced that a lack of labour is one of the biggest challenges facing the property market, according to a survey from Knight Frank released today. The report found that as many as 73 per cent of respondents believed the cost and availability of labour will have a negative impact on future housing supply. Read [...]
Property firm exposes how Nine Elms agents and developers are delisting and relisting same homes April 22, 2016 Dozens of new flats on sale in Nine Elms have been listed, taken down and relisted by developers and agents in the area, sometimes as many as 15 times in six months. This practice, known as “portal juggling”, potentially creates the illusion that there are more properties on the market than there actually are and [...]
Week ahead: Brexit fears set to hang over FTSE earning reports July 4, 2016 The market is bracing itself for a slew of Brexit induced profit warnings this week as we enter the early stages of reporting season. After the UK’s shock vote to leave the European Union triggered a sharp sell off, the FTSE 100 has rebounded strongly – pushed on by international earners. The blue-chip index ended [...]
Land Registry: UK house price growth in August at lowest level in two years September 28, 2015 House prices rose by 4.2 per cent year-on-year in August, according to the latest survey from Land Registry. This is the weakest annual pace since November 2013 and compares with an annual growth of 4.7 per cent in July. The average value of all properties across the UK – now £184,682 – was up 0.5 [...]
Tata Steel set to reveal shortlist of bidders for remainder of UK business following Scunthorpe sale June 1, 2016 Tata Steel is expected to release a shortlist of bidders for its UK business before the end of the week, City A.M. understands. The three companies tipped to be named are commodities trader Liberty House, management buyout team Excalibur, and Leeds-based private equity fund Endless. The Indian steel conglomerate has been reviewing up to seven bids [...]
Home sales to first-time buyers hit a two-year high in April as landlords fled from stamp duty charges May 27, 2016 Sales of properties to first-time buyers hit a two-year high in April after buy to let stamp duty changes scared off landlords looking to purchase a second home. There were 32,300 first-time buyer home sales in April, up from 28,100 in March – a rise of 14.9 per cent. The increase year-on-year was 37.4 per cent. The [...]
Taylor Wimpey purchases plots from Land Securities at Ebbsfleet Garden City April 25, 2016 Land Securities has sold over 500 plots to Taylor Wimpey at Ebbsfleet Garden City. It was announced today that FTSE 100-listed Land Securities had exchanged contracts with Taylor Wimpey for the sale of 539 residential plots at Castle Hill, which is one of three planned modern villages in the Eastern Quarry development and forms part [...]
PwC warns energy utility firms over rising levels of bad debt May 24, 2016 Energy utilities companies have been slapped with a stark warning over the impact of rising levels of bad debt. Bad debt across the sector rose by 44 per cent to £640m over the last five years, according to an analysis by consulting giant PwC. Water firms also experienced a similar trend as bad debt swelled 44 per cent [...]
Chappell bagged BHS with £35m backing from property dynasty May 29, 2016 Property investors bolstered Dominic Chappell's bid for BHS by handing him the £35m he needed to prove to Arcadia group that he was a suitable buyer for the high street retailer, the Sunday Times reported today. A month before Sir Philip Green sold BHS for £1 to Retail Acquisitions – majority-owned by Chappell – the son and [...]
Housebuilder Crest Nicholson’s shares fall – despite rebuffing Brexit blues June 14, 2016 Nothing can dampen the profits of a housebuilder, not even Brexit – housebuilder Crest Nicholson this morning posted healthy results despite the uncertainty about the outcome of the UK's upcoming referendum. The figures In its half-year report this morning, Crest Nicholson announced pre-tax profits at the firm were up 26 per cent in the six months [...]