Belvoir: Renter demand helps drive up revenue amid rocky period for UK housing market September 4, 2023 Belvoir has reported a 10 per cent uptick in profit before tax to £4.4m in its half year results as it was bolstered by a series of acquisitions and rising demand for rent. During the term, the listed property firm acquired BMA Bristol Ltd, a financial services business comprising of over 20 self-employed advisers for £1m, [...]
Vistry Group: Will Bovis housebuilder show signs of a rebound amid shareholder revolt? September 3, 2023 Investors will turn their focus to Vistry Group’s half year results on Thursday to see if the housebuilder has shown signs of rebounding amid a tussle between shareholders over its chief’s hefty pay rise. At its general meeting last week, some 45 per cent of shareholders voted against plans to double the annual bonus given [...]
Vistry, Barratt and Berkley: Housebuilders to report as investors nervous on rates, mortgages and rule changes September 1, 2023 After their shares soared on the Government’s decision to relax environmental rules, three housebuilders are preparing to update shareholders next week. Vistry, Barratt Developments and Berkeley Group will all update shareholders during the week, as nervous investors will be looking for more indications of what is happening in the mortgage market. Vistry has already said [...]
UK house prices drop by 0.8 per cent as ‘softening’ of growth at weakest since 2009 September 1, 2023 Nationwide said house prices are now 5.3 per cent below their August 2022 peak, while the average property value is now £259,153.
Property sales down 16 per cent in July as reduced lending rates fails to stop hesitancy August 31, 2023 The number of property sales taking place in July was 16 per cent lower than it was in the same month last year, as reduced lending rates failed to allay prospective buyers' hesitancy.
Mortgage approvals sink in July as market continues to cool on rising rates August 30, 2023 The number of mortgage approvals fell sharply in July as the housing market continues to cool off the back of rising interest rates.
UK housing sales on track to sink to lowest level since 2012 August 30, 2023 The number of housing sales completed over 2023 is on track to sink to its lowest level since 2012, when Britain was still reeling from the financial crash, as higher borrowing costs continue to decimate the market. Sales are also set to be 21 per cent down on last year, according to new data from [...]
China’s Country Garden asks for more time to pay off debts to dodge default August 29, 2023 Chinese property developer Country Garden has asked investors for more time to pay off its debts in a desperate bid to dodge default.
New clinical trial hub to open in Canary Wharf as demand for life sciences space heats up August 29, 2023 Canary Wharf is moving into what its CEO Shobi Khan calls its '3.0 phase' as it targets a growing diversity of uses.
Two thirds of home buyers in London getting help from Bank of Mum and Dad August 28, 2023 Over two-thirds (67 per cent) of all homeowners in London receive parental support to purchase their homes, a report released by Legal and General (L&G) has shown. ‘Bank of Family’ recipients in London received £30,200 on average to support their transaction, only beaten by those in the East of England who received an average of [...]