Peloton deliveries disrupted by Brexit and port delays February 5, 2021 Peloton’s stock of treadmills and bikes has been badly hit by Brexit and global shipping congestion, leading to severe delays, according to company CEO John Foley. On Peloton’s website, some items can take eight to ten weeks to be delivered, higher than the four to six week delivery windows earlier this year. The company has [...]
Rightmove toasts record-breaking January but deals begin to crumble ahead of stamp duty deadline February 5, 2021 Rightmove enjoyed its busiest January on record as visits to the property platform jumped nearly 40 per cent with many buyers seemingly undeterred by the approaching end of the stamp duty holiday. However, the firm said there had been a seven per cent increase in sale fall-throughs as buyers realised they do not have the [...]
UK house prices dip in January as market boom begins to ‘run out of steam’ February 5, 2021 UK house prices dipped last month, the latest data showed, in the first indication that the property market boom could be running out of steam. Average house prices across the UK fell 0.3 per cent in January compared to December, dropping to £251,968. Experts said the month-on-month drop – the steepest since the first lockdown [...]
Corporate collapse and pre-pack wave February 5, 2021 | City Talk The pandemic has wrought massive damage to many business. A dramatic drop in trading has left many firms unable to pay their debts. The normal assumption is that this would trigger a wave of corporate failures. However, the official figures to Q3 2020 is that the number of corporate insolvencies is lower than the previous [...]
Energy prices to rise for millions of households in April February 5, 2021 Ofgem has today announced that the energy price cap will return to pre-pandemic levels from April due to changes in wholesale prices. The price cap will increase by £96 to £1,138 for 11 million default tariff customers. There will be an £87 increase to £1,156 for those using payment meter. Ofgem has allowed the increases [...]
Remote working ‘could cost UK economy up to £95bn a year’, report finds February 4, 2021 Remote working could cost the UK economy up to £95bn a year, according to a new report analysing the benefits of office environments. Research commissioned by commercial landlord Landsec found that face-to-face working boosts productivity and innovation and sparks investment in residential and commercial property, business events, meetings and travel. The report found that the [...]
Barratt reports record new housing completions but profit hit by cladding costs February 4, 2021 UK housebuilder Barratt Developments announced it will resume dividend payments after posting record completions, but warned it will take a £56m hit on legacy properties, including issues related to cladding. The firm said it will pay an interim dividend of 7.5p per share on 10 May following a “rapid and robust recovery and a further [...]
London house prices drop near Tube stations as buyers shuffle priorities February 4, 2021 London house prices near Tube stations have dropped as buyers are less concerned about the length of their commute due to the shift to remote working during the coronavirus pandemic. Research published this morning showed that property prices close to a London Underground stop average £642,674, a drop of two per cent on the pre-pandemic [...]
UK PMIs: Construction activity contracts for the first time since May February 4, 2021 Construction output declined for the first time in eight months in January as lockdown measures and near-term economic concerns led to hesitancy among clients. The IHS Markit/Cips purchasing managers (PMI) index for construction scored 49.2 in January, with any score below the 50-mark indicating contraction. The reading was a sharp drop from December, when a score of [...]
Global investors set to pump £46bn into ‘resilient’ London office market this year February 4, 2021 International investors are gearing up to pump £46bn of capital into London’s office market this year in a vote of confidence in the long-term resilience of the sector, according to the latest research. London’s reputation as a safe haven and leading global city remains attractive to global investors, with the removal of the risk of [...]