Investors scramble to dump UK property funds as valuations dive amid widening Kwarteng mini-budget chaos October 13, 2022 Following last week’s bond market turmoil, which sent shockwaves through the City, investors are now scrambling to exit UK property funds. Since the new chancellor, Kwasi Kwarteng, presented his Mini-Budget at the end of September, the pace at which investors are pulling out of UK commercial real estate funds has accelerated. In the 10 days [...]
Buyer demand sinks as Brits turn to renting instead of homeownership October 13, 2022 The UK’s economic uncertainty has taken “a toll” on the housing market, new data suggests, as buyer enquires sink for the fifth month in a row with Brits turning towards renting instead of homeownership. According to research by the Royal Institution of Chartered Surveyors (RICS) today, demand from new buyers collapsed more than a third [...]
Housebuilder Barratt warns volatility is clouding outlook October 12, 2022 Housebuilder Barratt Developments warned that economic volatility was clouding the picture for the year ahead today but doubled down on profit targets for the remainder of the year.
Fire sale UK plc: Goldman Sachs to snap up British assets on the cheap as panicky UK pension funds flee October 11, 2022 In a near-unprecedented rush by British pension funds to raise their cash holdings, Goldman Sachs and a range of other investment giants are planning to snap up UK assets at discounts of up to 30 per cent. Since Kwasi Kwarteng’s disastrously received mini-budget at the end of September, UK pension funds are rushing to improve [...]
LendInvest warns of mortgage volatility as it ‘tightens credit appetite’ October 10, 2022 Mortgage fintech LendInvest said it was tightening its “credit appetite” today as it grapples with the volatility that has shaken the market in the wake of the government's so-called mini-budget.
UK’s largest housing association Clarion told to improve by Ombudsman after failures on mould and pests October 10, 2022 The Housing Ombudsman has found multiple failures from the largest housing association in the UK, Clarion. Clarion showed “evidence indicative of wider service failures” in areas including damp and mould, pest control and complaint handling, in a report published this morning. The HO said when it came to mould, Clarion “did not have a sufficiently [...]
Watkin Jones’ investment chief announced as new executive director October 10, 2022 Property developers Watkin Jones announced a raft of board appointments, including a new executive director. Alex Pease has been promoted from chief investment officer to the top job after joining the company in 2010. He was responsible for helping to Watkins Jones floating on the London Stock Exchange in 2016, before taking on its its [...]
Student accommodation group Unite sell 99 per cent of beds and makes £71m Stratford acquisition October 10, 2022 Student accommodation group Unite has sold 99 per cent of beds for the academic year, as it makes a major acquisition in Stratford for £71m. The company reported an increase in the number of beds bought up from 94 per cent in 2021/22 to almost 100 per cent this year, as university returns to being [...]
Marshalls’ shares plummet as firm warns of slowdown in sales October 7, 2022 Shares in building materials manufacturer Marshalls fell almost 20 per cent today after the firm warned of a slowdown in sales due to faltering demand. The West Yorkshire firm said its outturn will be “slightly below the bottom end of the current range of market expectations” as its sales start to slow. The warning comes [...]
UK house prices level out as Covid boom subsides October 7, 2022 UK house prices have dropped for the second time over the past three months in a sign the surge experienced over the previous year is starting to level out. Average UK house prices dropped by 0.1 per cent in September from August’s record highs of £293,992. The September drop marks the second marginal decrease over [...]