Coronavirus: Barratt Developments furloughs 85 per cent of staff April 16, 2020 Housebuilder Barratt Developments today announced it has temporarily laid off 85 per cent of its staff through the government coronavirus job retention scheme. Furloughed employees will receive full pay until at least the end of next month, the company said this morning. The developer also said both the executive and non-executive teams had agreed to [...]
Coronavirus: Banks approve 1.2m mortgage holidays amid financial strain April 14, 2020 More than 1.2m UK households have agreed mortgage holidays with their banks, figures have shown, as the coronavirus crisis causes borrowers unprecedented financial stress. Chancellor Rishi Sunak announced on 17 March that households with mortgages would be entitled to three-month payment holidays, meaning payments would be suspended. It was part of an unprecedented coronavirus response [...]
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Airbnb restricts UK bookings to key workers due to coronavirus April 9, 2020 Airbnb has blocked UK bookings for all customers except key workers during the coronavirus lockdown. UK listings still appear on the platform however bookings were blocked from 9am today unless they are essential. The restrictions will stay in place until at least 18 April. Under the government lockdown restrictions, all hotels and other accommodation providers [...]
Coronavirus: Redrow secures £300m facility through BoE’s emergency scheme April 9, 2020 Housebuilder Redrow has secured a £300m lending facility under the Bank of England’s emergency coronavirus financing scheme. The developer, which has furloughed 80 per cent of its staff using the job retention scheme, is also in talks to extend its existing revolving credit facility by £100m to £350m. Redrow said this morning that it expects [...]
Calls for stamp duty holiday as UK house prices set to fall amid coronavirus crisis April 9, 2020 The government has been urged to take action to support the housing market, including a stamp duty holiday, as UK house prices are forecast to drop due to coronavirus. The Royal Institution of Chartered Surveyors (Rics) has called for a stamp duty holiday as a “short term measure”. It said it could encourage potential buyers [...]
UK coronavirus lockdown: Property sales plunge 70 per cent April 7, 2020 Property sale agreements have plummeted since the UK coronavirus lockdown restrictions were introduced, according to the latest research. The number of agreed sales has plunged 70 per cent since the government measures, which urged people not to move house, were enforced on 23 March. Sellers have not pulled their properties off the market, but the [...]
UK house prices face unpredictable blow from coronavirus after March rise April 7, 2020 UK house prices jumped in March, before the impact of the coronavirus lockdown was felt. House prices were up three per cent year on year. However, on a monthly basis, UK house prices were flat. The average UK house price was £240,384 last month, according to the latest Halifax research. However, the outbreak of coronavirus [...]
Coronavirus: Housebuilder MJ Gleeson temporarily lays off 76 per cent of staff April 6, 2020 Housebuilder MJ Gleeson has temporarily laid off 76 per cent of its workforce after it was forced to close building sites and sales offices due to the outbreak of coronavirus. In total 456 employees will be furloughed in line with the government’s Job Retention Scheme, and will receive between 80 per cent to 95 per [...]
UK construction sector has worst month since 2009 amid coronavirus lockdown April 6, 2020 UK construction sector output plunged at the fastest rate since the financial crisis in March as coronavirus containment measures shut down sites and caused new orders to slump, survey data has shown. The IHS Markit/Cips construction purchasing managers’ index (PMI) tumbled to 39.3 in March from 52.6 in February. This was the lowest since April [...]