Housebuilders pledge to end advance sales of homes overseas December 18, 2013 A TOTAL of 11 housing developers have signed a pledge to market their properties to UK buyers first, or at the same time, as marketing abroad. Concerns about properties being sold to foreign investors who then choose not to live in them have led to claims that many London streets are unoccupied while demand in [...]
Best of the Brokers for 09 October 2013 October 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com SIGNET Analysts at Deutsche Bank have upgraded the jeweller to a “buy” and increased its target price from $73 to $85. The bank said sound cash generation should provide scope for further share buybacks and dividends. TAYLOR WIMPEY Panmure Gordon has upgraded the housebuilder [...]
London Report: Rio Tinto holds up FTSE despite housing drop November 28, 2013 HeAVYWEIGHT miner Rio Tinto helped keep the FTSE 100 in positive territory yesterday, offsetting weakness in housebuilders after the Bank of England removed a mortgage support scheme. Rio Tinto enjoyed hefty gains in an otherwise subdued session – adding six points on its own to the FTSE 100 – as investors responded bullishly to the [...]
London house prices to keep rising due to chronic undersupply October 28, 2013 The London housing market will continue to experience significant undersupply in the coming years and will retain its robust stance, according to research by Deutsche Bank. The bank expects UK listed house builders with scale and history in the region to see strong returns in their London divisions. It also expects new entrants such as [...]
City Moves for 23 September 2013 | Who’s switching jobs September 22, 2013 Savills The property company has recruited Brian Gaffney as a director and head of property management in Belfast. Gaffney has over 15 years’ industry experience. He joins from Colliers International, where he was head of its property management division. Standard Chartered The bank has announced two appointments to build its legal, compliance and regulatory programmes. [...]
London Report: Carney likely to bear good news about inflation November 10, 2013 GOVERNOR of the Bank of England Mark Carney is likely to be the bearer of good news when he presents his inflation report on Wednesday, with the growth rate heading up and the unemployment rate coming down. Carney pledged in August not to raise rates until unemployment fell to at least seven per cent, a [...]
Redrow signs £250m loan as it sets sights on further expansion September 11, 2013 REDROW announced yesterday it has agreed on a new and larger £250m loan with its banks, in a further sign of growing confidence in the housing market. The housebuilder said the four and a half year credit facility, which expires in March 2018, was £50m bigger than the existing facility it replaces, while costs were [...]
Taylor Wimpey hails pick-up in house buying January 14, 2013 TAYLOR Wimpey said yesterday it expects profits for the year to be at the top end of expectations as consumer sentiment in the housing market shows signs of improvement. The housebuilder said it expected to report that group operating profit rose by over 40 per cent in 2012 when it reports its annual results in [...]
Foxtons returns to market at £649m as stocks gear towards housing recovery September 20, 2013 London estate agents Foxtons has floated on the London Stock Exchange at 230p a share. (Release) Market capitalisation for the company is about £649m with gross proceeds raised of £390m. Our deputy editor David Hellier writes: STRONG demand for shares in Foxtons, the London-focused estate agency chain, was last night expected to push the group’s [...]
Hooked on help to buy July 23, 2013 THE GOVERNMENT’S commitment to underwrite hundreds of thousands of mortgages is “like a drug” that will artificially inflate house prices, critics have warned. George Osborne yesterday confirmed details of the next stage of his Help to Buy scheme, which will guarantee £130bn worth of mortgages from January 2014. Buyers will need a deposit of just [...]