Purplebricks: Shareholders reject motion to oust chair after dismal financial performance December 19, 2022 Purplebricks’ shareholders rejected a proposal to oust the online estate agency’s chair as its head insisted that improvements were on the way. The troubled firm said a proposal by major shareholder Lecram Holdings to remove Paul Pindar was rejected. Some 71.71 per cent of votes in a general meeting were against the resolution proposed by [...]
Londoners fork out 40 per cent of pay checks on rent each month on average December 19, 2022 Londoners are forking out nearly half of their pay checks on rent each month, according to official data today. It is no surprise London was the least affordable region in the UK for rent, with an average monthly cost of £1,430 – the equivalent to 40 per cent of median income in the year to [...]
Tax take plunged by £9bn through the pandemic, NAO finds December 16, 2022 The amount of cash the taxman brought in during the pandemic plunged by £9bn due to a rise in dodging and non-compliance, according to official figures released today.
Home REIT: We’ve no idea where our rent comes from December 15, 2022 Beleaguered property investor Home REIT has admitted it has no idea how much rent it receives through government housing benefit payments despite saying its business model ultimately relies on them, City A.M. can reveal.
Simpson’s saved? Historic City chophouse granted status as asset of value December 15, 2022 The City of London has decided to designate Simpson’s Tavern – the historic City bar and restaurant threatened with closure – as an asset of community value at a meeting this afternoon. The historic eatery was designated an Asset of Community Value by the City of London Corporation’s Policy and Resources Committee unanimously – taking [...]
City of London to vote on Simpson’s Tavern ‘community value’ designation December 15, 2022 The City of London’s Policy and Resources Committee will decide whether to designate Simpson’s Tavern – the historic City bar and restaurant now threatened with closure – as an asset of community value at a meeting this afternoon. Doing so would mean the site would ensure that the local community would be given the chance [...]
House prices shoot up 12.6 per cent but London has lowest growth across UK December 14, 2022 The price of a property in the UK has shot up by 12.6 per cent over the last year with the average now sitting at just below £300,000. The latest House Price Index figures from the Office for National Statistics show the monthly increase was minimal however, at just 0.3 per cent. London however had [...]
Nervous buyers see house prices fall in largest monthly dip in four years December 12, 2022 House prices have fallen in the largest monthly dip in four years due to buyer nerves in the wake of economic and political turmoil. The average price of a house coming to the market is down £7,862 this month, a drop of 2.1 per cent, according to Rightmove’s latest house price index. The average price [...]
Exclusive: Change in capital gains allowance causes mass exodus of landlords looking for quick sale December 11, 2022 THE reduction in Capital Gains Allowance is an “unwelcome blow” and has seen the number of landlords looking to sell up hit a 13-year high. Jeremy Hunt announced that the amount you can make from the sale of certain assets before paying tax will fall from £12,300 to £6,000 in April and then to £3,000 in [...]
Berkeley profits dip as housebuilding hey-day slips away December 9, 2022 Berkeley, one of the biggest housebuilders in the country, has been hit hard by the housing market dip and scaling inflation, as its pre-tax profit sinks. It is the latest sign the hey-day for housebuilders is over, with rising mortgage rates combined with inflation squashing demand for house buying in recent months – as well [...]