London’s prime housing market bigger than New York’s, says new report October 7, 2015 London’s prime housing market now stands out both in terms of the volume of prime sales and the scale of expansion, against other global cities including New York, a new report has found. The global development report 2015 by real estate Knight Frank found New York and London continue to lead development trends, in terms [...]
The new pension freedoms are transforming asset management October 6, 2015 The pensions freedom and choice agenda, announced at Budget 2014 and implemented in April this year, took fund managers by as much surprise as insurers. Eighteen months on, what can we see happening in the asset management world, as investment houses digest the implications? The biggest change in the new agenda was the final [...]
Think iPhones are expensive? An Apple 1 computer is being auctioned by Christie’s for £500,000 October 16, 2015 One of the first ever Apple computers is going up for sale at London auction house Christie's – and it's expected to raise as much as £500,000. Christie's said the rare Apple 1 computer is one of only about 50 in existence. Hand-made by Steves Jobs and Wozniak in their garage, only 200 were ever made. It's no wonder, then, that [...]
Derwent sells Covent Garden’s Davidson Building for £66m as third quarter lettings soar November 12, 2015 Derwent London's Davidson Building in Covent Garden has been snapped up by US real estate firm Cornerstone for £66.2m, the developer said yesterday, as it reported a surge in third quarter lettings. The company bought the office building and redeveloped it in 2003, keeping the Edwardian façade on Southampton Street. It was named the Davidson [...]
Abcam confident on China despite global fears of a chronic slowdown September 15, 2015 Biotech firm Abcam yesterday remained bullish on growth in China, despite concerns of a slowdown in the world’s second-largest economy. The Aim-listed firm, which makes and sells antibody-related products, delivered strong full-year results, with revenue up 14.2 per cent to £144m and pre-tax profit up 5.9 per cent to £46.1m. Growth was boosted by China, [...]
UK house prices: Growing gulf between supply and demand is heating up the property market September 10, 2015 House prices could rocket even faster than previously forecast, as research reveals that accelerating demand for homes is coming up against a brick wall of scant supply. Prices are set to climb six per cent this year, the Royal Institution of Chartered Surveyors (RICS) said today, doubling the estimate it made at the start [...]
Bovis Homes is upbeat despite cooling market January 15, 2015 BOVIS Homes said yesterday it is on track to deliver a significant hike in profits after the UK’s buoyant property market helped the housebuilder to sell a record number of homes. The FTSE 250 company, which builds most of its homes in the south of England but outside London, completed 3,635 property sales in the [...]
Best of the Brokers for 14 October 2015 October 14, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DIAMONDCORP Panmure Gordon has downgraded its target price to 16.5p from 23p previously after a change in analysts at the firm. Despite its caution over diamond pricing in 2015, Panmure Gordon believes DiamondCorp remains a “special situation” ahead of the start of production. [...]
Zoops…Zoopla’s £13.85m gaffe July 15, 2015 A TECHNICAL glitch has shocked the residents of sleepy Stornoway in the Outer Hebrides, after property website Zoopla put a valuation of £14m on a semi-detached house not even up for sale. Zoopla yesterday showed six houses for sale in the town, ranging from a 4-bed town house priced at £225,000 to a 2-bed terraced [...]
Growth nudges US house sales to 2008 levels February 26, 2014 SALES of new homes in the US spiked despite the freezing temperatures in January, rising to the highest level since the summer of 2008, before the worst day of the financial crisis. According to the US Census Bureau, 468,000 homes were sold last month, 19.7 per cent above December’s 427,000. Activity in the market is still [...]