Why the Lib Dems’ new mansion tax-lite is just as ugly April 14, 2014 SOME Liberal Democrats seem to have finally conceded that their “mansion tax” pet project is a bad idea. Chief secretary to the Treasury Danny Alexander has gone off the proposal to levy a 1 per cent charge on the value of properties above £2m, preferring higher council tax bands for expensive properties instead. But given [...]
How Ukraine’s unrest will affect prime London property prices March 4, 2014 World shares, particularly in banks, insurers, miners and energy stocks, have been hit as a result of the political tension and unrest in Ukraine. But what would be the cost of an economic fallout or any potential sanctions by the West against Russia have on the London property market? Joshua Raymond, chief market strategist of [...]
Berkeley says new homes to pass 2007 peak March 18, 2014 SHARES in Berkeley Group jumped 2.3 per cent higher yesterday after the housebuilding giant said that it is on track to complete 30 per cent more homes this year than at the peak of the market in 2007. The group credited the government’s Help to Buy mortgage scheme for boosting demand. The scheme provides taxpayer-funded [...]
How London can smash through the brick ceiling limiting housing supply April 9, 2014 OVER four days, 300 people queued in a field by Heathrow to buy a home. It was 1964, and for £50 people could fulfil their homeowning dream in the soon-to-be-built suburb of Sunbury-on-Thames. The first 187 people did. Those odds don’t feel dissimilar to those faced by Londoners in today’s booming property market. The answer [...]
Grainger sales double as market speeds up February 6, 2014 THE UK’s largest listed residential landlord Grainger posted a strong start to the year, with sales more than doubling in the first four months thanks to a one-off disposal and the improving housing market. Group sales increased by 131 per cent to £149.3m compared with £64.6m during the same period last year after the group [...]
Inside the £12m penthouse April 10, 2014 Take a tour of one of the City’s most exclusive new addresses HIGH atop the City of London, towering over Moorgate station, neighbouring Linklaters, London Wall and The Barbican, sits the first major residential development to be built in the City of London for three decades. As such, the developer behind The Heron – not [...]
Sale of £17.6m site sees Dairy Crest hopeful of future profits January 31, 2014 Dairy Crest, one of Britain's biggest milk producers, has announced the sale of the Nine Elms residential and middle-ground milk depot for £17.6m in a move that will boost the company's profits above expectations. The company anticipates sales from properties to total around £18m in 2014, close to double the previous expectations of £10m. The [...]
Investment into Europe property hits record high March 10, 2014 INVESTORS from outside of Europe spent a record €36bn (£30bn) on European real estate last year, with US, Asian and Middle Eastern investors leading the charge. According to research released today by DTZ at Mipim, the property’s industry annual conference in Cannes, this represented a 26 per cent share of total volumes invested across the [...]
City Moves for 07 February 2014 | Who’s switching jobs February 6, 2014 City Index Mark Preston has been appointed chief executive at the online broker. He has over 25 years’ experience in trading and banking. Preston was previously chief executive of Europe for CIBC, co-head of corporate markets at Lloyds Bank, and a principal at Valere Capital. BNP Paribas Securities Services The investment custodian has made four appointments [...]
Focus on… Greenwich: Grass is always greener in Greenwich February 27, 2014 THE ROYAL Borough of Greenwich is a leafy haven bursting with heritage. Newly royal – the title was bestowed upon the town in 2012 – it was the birthplace of Tudor kings, the sanctuary of injured sailors, a popular holiday resort, and now the home of time itself. Like time, houses prices stand still for [...]