Don’t be gloomy – but there are still risks to the strong UK recovery July 27, 2014 Friday’s GDP data took us past a very symbolic landmark. The level of output in the UK is now slightly above its pre-recession peak. However, we should bear in mind that the UK population has risen by more than 4 per cent since early 2008. Average income per person is therefore still some way below [...]
In graphs: London house prices no longer the fastest growing in the UK July 28, 2014 The Land Registry has released new data on house prices in England and Wales and the figures show the market is cooling. The average across England and Wales shows that prices are stagnant – showing no change at all. The average selling price for a house in England and Wales during June was £172,011: a zero per [...]
UK house sales at their highest since 2007, but seasonally adjusted figures show drop July 22, 2014 There was another sign that the UK property market may be cooling, after the HMRC released figures showing that the number of properties sold in the month of June had dropped – when the numbers are adjusted by season. Although the raw number of sales for June, 109,580, is the highest since November 2007 (and [...]
Tesco’s week from hell: £250m black hole, 16 per cent fall in share price since Friday September 26, 2014 Was this the week Tesco hit rock bottom? Having discovered a huge black hole in its finances, shares have fallen from Friday's closing price of 229.6p, to a low of 191.23p in early morning trading today. That's a fall of almost 17 per cent. Here's a handy, cut-out-and-keep guide to Tesco's week from hell Monday [...]
The main winners from Help to Buy? Rich men in London January 23, 2014 Nearly 40 per cent of would-be homeowners under the age of 40 are planning to apply for the government's controversial Help To Buy scheme in 2014, according to research from Experian Consumer Services. In November, Halifax and RBS reported strong interest in the first phase of Help to Buy receiving more than 2,000 applications in [...]
John Laing Infrastrucure Fund boosted as value and profits rise August 27, 2014 THE VALUE of FTSE 250-listed John Laing Infrastructure Fund’s (JLIF) portfolio rose by nearly five per cent in the first half of 2014, as pre-tax profits also rose and the company signalled it would continue its policy of making careful targeted acquisitions ahead. JLIF saw underlying growth of 4.95 per cent in the value of [...]
Scottish rents rise as estate agents blame tenancy fees ban August 26, 2014 Scottish estate agents are blaming the country’s ban on tenancy fees for a recent rise in rents, indicating that the Labour party may face a similar challenge if it brings in the same rule for the UK after 2015. Your Move, a large network of Scottish estate agencies, argues today that a 2.7 per cent [...]
Woodford takes 30pc stake in online estate agent Purplebricks August 17, 2014 Star fund manager Neil Woodford has taken a £7m stake in Purplebricks.com, an online estate agency, in his new fund’s biggest investment in a private firm to date. Purplebricks, which was founded by brothers Michael and Kenny Bruce, aims to undercut agents’ sales commission with a fixed fee of £599 and offer a 24-hour service. [...]
Bitcoin is bust: Why investors should abandon the doomed cryptocurrency November 5, 2014 SINCE its inception, the market for bitcoin has experienced one of the most remarkable roller coaster rides of all time. Originally worth a fraction of one cent in 2009, the price of bitcoin rose to peak at not far short of $1,200 in December 2013. Since then, it has fallen erratically and is currently about [...]
Zoopla: Unusually for a tech stock, this one’s looking as safe as houses – Bottom Line August 14, 2014 Being old and boring, I spent last Friday mooching around a somewhat less-than-salubrious corner of our city, looking for a flat that I could buy as an investment. I dropped into two estate agents to ask questions about the area because, back in my day, that was how one did things. The first agent was [...]