Rents in London rise to nearly £1,500 as new supply declines September 22, 2013 THE AVERAGE cost of renting in London is pushing closer to £1,500 per month, as property prices climb across the UK. The average monthly rent in London is now £1,465, according to Sequence, the property group. Based on the speed of rises currently, rents will soon push above £1,500 per month. Between July and August, [...]
Inside Track: Bank of America Merrill Lynch closes 2013 with a flurry December 12, 2013 THE timing appeared so impeccable, you almost felt it must have been staged. Just as Bank of America Merrill Lynch’s head of equity capital markets was running through a presentation on how the bank has gained market share over the year, one of the mobiles on the desk in front of him rang. With that [...]
Family homes with a modern twist December 5, 2013 Townhouses are standing tall next to the increasing numbers of towers that are dominating the skyline TOWNHOUSES were once the reserve of London’s nobility, standing tall around the boundaries of the City of London. But as the population rose, so did residential buildings and now it’s not unusual to live 10 or 20 storeys above [...]
Bubble fears too high – the housing market is ordinary September 19, 2013 The Council of Mortgage Lenders (CML) has announced that gross mortgage lending remained steady in August at an estimated £16.6bn. (Release) In July, the figure was £16.7bn and up 28 per cent from August 2012 (£13bn). Not unexpectedly, the CML highlighted that: Prospects for the UK economy continue to brighten, although there is a risk [...]
Two thirds of economists oppose Help to Buy October 11, 2013 A Bloomberg News survey of 31 economists has shown a majority oppose the government's controversial Help to Buy scheme. Two thirds of the economists surveyed described the scheme as "bad." The government intervention into the housing market will see taxpayers on the hook for 15 per cent of a home's value, the purpose of which [...]
Our panel votes to hold rates as economy firms January 8, 2014 AS 2014 gets underway, our shadow monetary policy committee votes to keep interest rates and QE unchanged in January. Two members voted for a rate hike again this month, as official statistics responses to business surveys continue to reinforce the view that the UK economic recovery was strengthening as 2013 rolled to an end. Most [...]
New issues make a strong comeback in the London market December 18, 2013 As the year comes to an end there’s definitely cause for celebration in London’s new issues or Initial Public Offering (IPO) market. According to figures out today from EY, the advisory firm, there were 14 main market share listings this year, raising £5.2bn. That’s not exactly an avalanche of deals but the total represents a [...]
A2Dominion launches retail bond October 2, 2013 Social housing group A2Dominion became the latest company in the sector yesterday to tap the public market for cash after launching a retail bond. The company hopes to raise around £140m from the unsecured sterling bond, which has a coupon of 4.75 per cent and is due in 2022. One of the UK’s largest housing [...]
Snookering the housing market October 17, 2013 DESPITE widespread scepticism around George Osborne’s Help to Buy scheme, the chancellor could be forgiven for not expecting his most recent critic’s comments. In a break from training for his upcoming Chinese tournament, five-time and current snooker world champion Ronnie O’Sulllivan took to Twitter, voicing a strong criticism of the UK’s housing market. “The new [...]
What the other papers say this morning – 25 October 2013 October 24, 2013 FINANCIAL TIMES Bitcoin backed by top hedgie boss Financial advisers who gathered in New York to hear leaders of the asset management industry impart their best investment ideas for the year ahead were given a surprising tip by one prominent hedge fund manager: Bitcoin. Fortress Investment Group’s Michael Novogratz said it could be used as [...]