Homebuilder CALA anticipates revenue well above pre-pandemic levels January 10, 2022 Homebuilder CALA Group said it anticipates £1.25bn revenue, surpassing pre-pandemic levels. In unaudited results for the year to 31 December 2021, the homebuilder said it expected pre-tax profit of around £130m, an increase of 35 per cent on 2019. The Surrey-based firm reported 2,904 home completions, up 19 per cent on its 2019 total, and [...]
Cladding campaigners call for financial aid to cover remediation of other fire hazards January 9, 2022 Cladding campaigners have called on ministers to do more to help leaseholders of unsafe buildings facing “ruinous debts”. Housing minister Michael Gove is expected to announce tomorrow that leaseholders in buildings between 11 and 18.5m in height will no longer be forced to take out personal loans to cover the cost of removing dangerous cladding. [...]
Just 12 tower blocks see dangerous cladding removed through £5bn fund January 7, 2022 Just 12 buildings have had dangerous cladding removed with the aid of a £5bn government fund, which was created to fix thousands of risky tower blocks. The Building Safety Fund was created in 2020 to help residents of blocks more than 18 metres tall with the removal of a certain type of hazardous cladding. Some [...]
House prices hit record high of £276k as slower growth forecast for 2022 January 7, 2022 House prices increased by more than £24,500 last year, the largest annual cash rise since March 2003. The average UK property price reached a new record high of £276,091 in 2021, rising 9.8 per cent, according to Halifax’s House Price Index. Once more, London was the weakest performing region for annual inflation by long way [...]
Build-to-Rent investment soars to record high in 2021 January 6, 2022 Investment into the UK’s build-to-rent sector hit £2.1bn in the last quarter of 2021 as the sector capped off another record year of investment. Investment soared to £2.1bn in the last three months of the year, taking the year to a record high of £4.1bn, according to preliminary data from global real estate advisor CBRE. [...]
Wandsworth sees the highest number of £1m property transactions as buyers desire space January 5, 2022 The leafy borough of Wandsworth has been named as the capital’s hotspot for property transactions of £1m over the last year. The south-west London borough accounted for 11 per cent of high end transactions over the last year, out of a total 6,312 transactions for between £1m and £3m across London. Kensington and Chelsea and [...]
Rightmove reports busiest ever Christmas for home movers January 5, 2022 It was the busiest ever Christmas for those wanting to move home, with buyer demand soaring compared to the same period last year. Property platform Rightmove said buyer demand was up 23 per cent compared to last Christmas, when the pandemic discouraged many movers. The website recorded its highest ever number of new sellers on [...]
Boost for Global Britain as UK exporters enjoy £620m surge in post-Brexit trade with South Korea January 5, 2022 A “huge” demand for British products and services in South Korea is boosting UK companies exports to the east Asian country, according to the government. International trade secretary Anne-Marie Trevelyan said that British firms saw a £620m surge in exports to South Korea last year, a jump of nine per cent. Trade between the UK [...]
Homebuilder Glenveagh posts rising revenue while warning of labour shortage challenges January 5, 2022 Irish homebuilder Glenveagh Properties has reported rising revenue, up more than a third compared to pre-pandemic levels, as it warns of labour challenges ahead. The residential developer posted a total revenue of €476m for the year ended 31 December 2021, a 64 per cent jump on 2020’s figure. Revenue was also up 36 per cent [...]
From price inflation and Brexit rows to Evergrande and Biden v Putin: Here are the market risks to watch this year January 4, 2022 The world is a pretty turbulent and unpredictable place at the moment, with Covid variants not making life easier. From tensions between Russia and the US over Ukraine’s NATO membership to Brexit conflicts and China’s Evergrande property scandal, 2022 is set to become everything but dull. So what developments and issues could disrupt or disturb [...]