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 [...]
Countrywide blames housing market slowdown for profits warning as shares plunge November 4, 2015 Shares in Britain's biggest lettings and estate agency Countrywide have plunged more than 12 per cent this morning after the company issued a shock profits warning, blaming a slowdown in the housing market. The company, which owns estate agencies including Hamptons, Blundells and John D Wood, despite generally encouraging economic conditions, the pick-up in residential transactions it had anticipated following the [...]
A Brexit brick shortage is threatening to make the UK’s housing crisis worse August 25, 2016 If the housing crisis keeps you awake at night, start worrying about this: even if builders went on a housebuilding frenzy today, the UK would need 1.4 billion bricks – which it doesn't have. And that's without the effects of EU referendum… Figures published by the National Association of Estate Agents (NAEA) and Cebr today showed the average new [...]
Sir James Dyson is wrong: Voting Leave offers the illusion of control – but the certainty of vastly reduced influence June 21, 2016 Sir James Dyson recently restated his allegiance to the Leave campaign, calling the many uncertainties associated with Brexit “cobblers”. Outdated terminology aside, a declaration for Leave from an entrepreneur of Sir James’s stature could influence undecided voters. His position is not new. Dyson’s support for Leave goes back to 2014, when he was battling German manufacturing giants [...]
Deutsche Bank chief economist calls for bailout of European banks, as Italy faces last ditch efforts to rescue troubled sector July 10, 2016 As uncertainty from the UK's referendum on EU membership continues to plague the banking sector, Deutsche Bank's chief economist is calling for a bailout of Europe's banks. In an interview with Welt am Sonntag, David Folkerts-Landau suggested that an injection of fresh capital was needed to help save banks, pegging the amount needed to recapitalise at €150bn (£128bn). "Europe is [...]
Legal & General bolsters £250m build to rent pipeline after buying Salford scheme April 14, 2016 Insurance giant Legal & General Capital and its joint venture partner, Dutch pension fund manager PGGM, have announced plans to build more rental properties in Greater Manchester, boosting its pipeline of build to rent homes to 800 across the UK. The two companies joined forces in January to launch a £600m fund to build large-scale private rental housing across the [...]
Pride in London 2016: The Bank of England will fly the rainbow flag for the first time this year, but the FCA has started celebrating already June 14, 2016 The Square Mile is catching Pride fever. News reaches the Capitalist from the Bank of England that the annual celebration of the LGBT community in London is going to be extra special this year. The Bank of England is making LGBT history by flying the rainbow flag over its building for the first time next weekend. [...]
A rate cut could wipe £1.4bn off operating profits at the UK’s top banks August 4, 2016 Profits will be decimated at the UK’s top banks if, as widely expected, the Bank of England cuts interest rates to a historic low of 0.25 per cent today. New analysis by the banking practice of consultants Simon-Kucher and Partners predicts that lower rates would wipe £1.4bn off the operating profits at the UK’s top [...]
Public finances falter following EU referendum August 19, 2016 Government income shrunk in July with tax receipts missing expectations in the first sign of a post-referendum hit to the public finances. The government ran a surplus of £977m in July, according to figures published this morning by the Office for National Statistics (ONS), though this was down on predictions for a £1.9bn windfall and [...]
Building an economy of the future: Why the Conservative government needs to change its fiscal mandate May 24, 2016 Since the Conservative's won their majority government in 2015, our economy has begun to waver. In the first quarter of this year growth slowed, with construction output falling by 0.9 per cent. The OECD has downgraded forecasts, as has the CBI. In addition, 10-year gilts hit an all-time low in February and foreign investment is collapsing, [...]