IMF managing director Christine Lagarde says house prices, deficit, EU referendum could hurt UK growth December 11, 2015 Rapidly rising house prices and a "strikingly large" current account deficit could inhibit Britain's economic growth, the International Monetary Fund (IMF) has warned this morning. In its annual report on Britain's economy, the IMF said that while UK growth has been strong in recent years, domestic risks threaten the "broadly positive outlook". "Domestic and external [...]
Nationwide continues run of good form as it reports pre-tax profits up a third November 20, 2015 Nationwide building society continues to benefit from a strong housing market and customers switching current accounts, posting pre-tax profits up by a third. The figures Pre-tax profits for the six months to 30 September rose by 34 per cent to £802m, up from £598 in the same period a year ago. There were more than [...]
City Moves for 22 January 2016 | Who’s switching jobs January 22, 2016 RateSetter Marketplace lender RateSetter has appointed Paul Marston as head of SME lending and Angela Yotov as head of legal. Paul joins from Secure Trust Bank, a challenger bank, where he was managing director of the business and commercial division which provides funding for SMEs and property development loans. Prior to that he was a [...]
Barratt, Berkeley Group, Persimmon and Taylor Wimpey share prices fall as Liberum brands housebuilders “overvalued” November 3, 2015 Is this another sign of the much-anticipated bubble? Shares in some of the UK's largest housebuilders fell this morning after one broker downgraded them to "sell". In a note this morning, Charlie Campbell of Liberum cut Barratt, Persimmon and Taylor Wimpey, saying the largest housebuilders' valuations were "too optimistic". All three were among the biggest fallers on [...]
The Brits are back in town: Domestic buyers dominate London’s prime property market November 19, 2015 British buyers are returning in droves to the London property market and now account for well over two thirds of purchases in the capital’s prime post codes, new research revealed today. The proportion of sales to domestic buyers has jumped to 79 per cent in the third quarter from 75 per cent a year ago, leaving overseas [...]
UK house prices: Stamp duty reforms have saved homebuyers £1.9bn since last year December 3, 2015 The chancellor’s stamp duty reforms may have added to the bill for high-end homes. But for the vast majority who have bought homes under £1m, the measures have represented huge savings. UK homebuyers have collectively saved £1.9bn since the old slab system was abolished last December and replaced with a more progressive tax system, figures [...]
UK house prices: London property prices to rise a third by 2019 as demand continues to outweigh supply November 9, 2015 London house prices will rise by almost a third between this year and 2019, new research has found, as demand in the capital continues to vastly outweigh supply. The CBRE Regional Development Land report forecast nine per cent growth this year, rising to 31 per cent by 2019. In the wider South East, prices will rise six [...]
Autumn Statement 2015: George Osborne boosts spending on housing, but can the government really build 400,000 more homes? November 25, 2015 Britain’s housing supply crisis isn’t a new problem – but today George Osborne made another government pledge to increase the stock. Osborne’s plans include selling off prisons and offering more capital to affordable housing. To top it off, there is to be a new help-to-buy scheme for London, to give residents a leg up onto [...]
Equity crowdfunding: The 2016 refresher guide for investors January 21, 2016 Alternative finance has provided us with several new asset classes, and one of them is equity crowdfunding. In 2015, the global crowdfunding industry grew to $34.4bn – more than doubling from a year earlier – according to a report from Massolution. In the UK, research from Alt Fi published in November of last year suggested [...]
Unleash small developers to reap public sector land sale potential November 24, 2015 Today is a golden opportunity for the government to kick-start a house-building revolution in this country. We are in the midst of a generational housing crisis that necessitates ambition, innovation and creativity if it is to be resolved. Figures from across the political spectrum have got the right ideas on housing and the drive to [...]