Fitch upgrades Greece’s long-term currency rating to CCC August 18, 2015 Fitch has become more optimistic about Greece's ability to pay off its debt. Today, the ratings agency upgraded the country's long-term foreign and local currency ratings by one notch from CC to CCC. It said the change was down to an agreement reached last week by Greece and its European creditors to release [...]
Shortage of prime London homes fuels frenzy of 24-hour exchanges August 18, 2015 An acute shortage of property in prime central London is driving more buyers to exchange on homes within 24 hours even as the top end of the market slows, according to search agent Banda Property. The boutique firm, which acts on about 50 sales a year, said that buyers were insisting on a 24-hour exchange [...]
Mayfair sees fastest rent price growth in prime central London August 18, 2015 Mayfair is leading the way in prime central London rental price growth, a lettings agent said yesterday. Rents in Mayfair have shot up 7.5 per cent over the last 12 months, according to E J Harris. Prime central London has seen rents rise 4.1 per cent. The firm warned that prices are likely to keep [...]
Saudi stocks drop to seven month-low as weak oil prices knock confidence August 18, 2015 Saudi Arabia's Tadawul All Share Index dropped to its lowest value in seven months today, after the International Monetary Fund (IMF) issued a warning about the country's oil dependence. The index finished the day 2.85 per cent lower at 8,197.02 points, marking the sixth consecutive day of declines. Read more: Saudi Arabia's Tadawul stock [...]
UK inflation: Pound hits seven-week high as inflation unexpectedly hits 0.1 per cent in July August 18, 2015 The pound hit a seven-week high against the greenback this morning as investors cheered a better-than-expected inflation figure. Official data showed the consumer price index rose 0.1 per cent in the year to July, from zero a month earlier, beating economists' expectations for no change. Nevertheless inflation still remains well below the Bank of England's target [...]
UK inflation: Business groups IoD and BCC split over when BoE should raise rates August 18, 2015 Two of Britain's biggest business groups have clashed over when the Bank of England (BoE) should raise interest rates, after today's inflation data. Official data released this morning showed inflation unexpectedly rose 0.1 per cent in the year to July. But this remains well below the BoE's target for two per cent. At the same [...]
Global liveability ranking: Melbourne tops the charts again as terror and austerity makes European cities less attractive August 18, 2015 "Liveability" has fallen in cities across Europe, thanks to terror attacks and economic instability, figures published by the Economist showed today. The global liveability index ranked London at 53rd place out of the 140 cities studied. If you want a more pleasant environment, move to Melbourne instead. For the fifth year running, the Australian city [...]
UK house prices: Persimmon share price dips despite fecund first half August 18, 2015 Another day, another housebuilder boasting impressive growth, after Persimmon said profits rose 31 per cent to £2.72.8m in the six months to the end of June. The figures You read that right: profits before tax rose 31 per cent to £272.8m, up from £208.9m last year. Meanwhile revenues rose 11 per cent to £1.3bn, while underlying earnings per share [...]
Housebuilder shares drop on “vanilla” house price growth August 18, 2015 Shares in the UK's largest listed housebuilders fell today, despite official figures showing annual house price growth rose to 5.7 per cent in June. Shares in Barratt fell 1.45 per cent to 643.5p in late morning trading, while Berkeley Group was down just under one per cent at 3,422p. Meanwhile, shares in Persimmon, which posted [...]
“Summer boom” in upmarket central London lettings as Mayfair has post-election bounce August 18, 2015 It's not just super-rich property buyers who breathed a sigh of relief when the result of the General Election was announced: new figures suggest landlords were also pretty relieved, after corporate relocation enquiries for homes in Mayfair jumped 40 per cent in the past three months. Read more: One estate agent is enticing the super-rich [...]