UK property prices: Average cost of house has risen by 300 pc to over £680,000 in two decades – Savills January 15, 2016 The average house price in the UK has risen by 300 per cent and is now almost £200,000 higher than it was 20 years ago, according to upmarket estate agent Savills. The country's most expensive areas have seen an even steeper 538 per cent increase in the average house price from £108,032 to £689,649, found [...]
McCarthy & Stone shares fall despite half-year revenue growth, with company “uniquely placed” to serve growing over-65s population March 3, 2016 McCarthy & Stone shares fell today despite the retirement homebuilder reporting a 32 per cent growth in revenue, suggesting investors are profit taking after the shares' strong performance since the IPO in November. The figures The trading update reported revenue of £250m in the half-year ending 29 February. This was up year on year from £189m. [...]
The mortgage market is helping to fuel a new credit boom March 31, 2016 Lending in the UK is recovering strongly. The annual growth rate of total lending hit 4.8 per cent in February, according to figures released by the Bank of England this morning. It is the highest growth rate since 2009 when lending was plummeting. Here's what is helping to drive it: Mortgage lending Borrowing is bouncing back in [...]
Halifax house price index: UK house prices rose 9.5 per cent last year. Yawn January 7, 2016 Another day, another confirmation that homes in the UK are increasingly unaffordable. House prices have risen 9.5 per cent in the year to December, according to figures from Halifax, which showed the average house price is now a £208,286. Ouch. Still: the UK's house prices are nothing if not dependable. The figure meant annual price growth stuck between [...]
London airport expansion: 1922 Committee chairman Graham Brady hits out at government over runway delay February 29, 2016 A leading backbencher MP is set to slam the government today over its move to delay a decision to build another runway in London and the southeast. Graham Brady, the Conservative MP who chairs the influential 1922 Committee, is expected to table a so-called Early Day Motion criticising the government over its indecision and urging ministers to deliver a [...]
The House of Lords lauds diversity with a new power list of the top 100 business leaders from ethnic minority backgrounds April 27, 2016 If there's one thing the City is in dire need of, it's diversity. That's why a Westminster peers have grouped together to bring us a power list of the top 100 business leaders from ethnic minority groups. The top 100 most influential BAME (black, asian and minority ethnic) people in business were lauded in the house of [...]
Impending tax increase sparks buy-to-let rush – Royal Institution of Chartered Surveyors January 21, 2016 A higher tax rate on house purchases due to start in April has caused a surge in demand from buy-to-let investors, new figures show this morning. From April, buy-to-let investors will have to pay three per cent more in stamp duty land tax (SDLT) than residential buyers. In December, 10 per cent more chartered surveyors in [...]
Mount Anvil profits hit new record high as residential developer targets 1,000 new homes April 20, 2016 London property developer Mount Anvil posted a 25 per cent jump in pre-tax profits to reach a new record of £25m last year, after partnering with other developers to deliver nearly 500 new homes across the capital. The private company, which is redeveloping Keybridge tower in Vauxhall as well as Dollar Bay in the Isle of Dogs, said [...]
EU referendum: London mayor Boris Johnson’s economic adviser Gerard Lyons backs Brexit as CBI president Paul Drechsler praises the EU Single Market March 2, 2016 London can still be “Europe’s world city” even if Britain leaves the European Union, mayor of London Boris Johnson has argued in a major new report from City Hall. “London: The Global Powerhouse”, was first published yesterday and was written by the mayor’s economic adviser, Gerard Lyons, among others. In the report, Lyons wrote that [...]
City Moves for 14 March 2016 | Who’s switching jobs March 14, 2016 Accenture Professional services group Accenture has promoted Joydeep (Joy) Bhattacharya, pictured, to lead the Accenture Interactive business in the UK and Ireland. In addition to his new role, Joy will maintain his existing responsibilities as regional general manager for Fjord, Accenture’s design and innovation unit, in Europe, Africa and Latin America (EALA). With over 15 [...]