Zoopla: Coronavirus could send UK house prices plunging March 26, 2020 UK house prices could plunge dramatically as the coronavirus outbreak causes demand to dry up, Zoopla has warned. The spread of Covid-19 is already having a big effect on the market, causing a 40 per cent drop in demand for housing in the seven days to 22 March, according to data from property website Zoopla. [...]
Coronavirus: Barratt Developments scraps dividend March 25, 2020 Housebuilder Barratt Developments has scrapped its £100m payout to shareholders over the business uncertainty caused by coronavirus. Barratt, which has closed all of its sites, said it expects the coronavirus outbreak to have a “significant impact” on construction output and reservations and has cancelled all previous financial guidance. The company said that due to the [...]
Coronavirus: Bellway scraps dividend and warns of ‘substantial disruption’ March 25, 2020 Bellway has warned of a period of “substantial disruption” during the coronavirus outbreak, as it cancels its interim dividend to preserve its balance sheet. Bellway said the coronavirus outbreak had threatened liquidity across the economy and as such, the board is taking immediate action to preserve the balance sheet. The housebuilder’s interim dividend will be [...]
Persimmon cancels dividend and begins shutdown of sites March 25, 2020 Persimmon is the latest housebuilder to cancel its dividend in an attempt to conserve cash as coronavirus uncertainty hits sales. The housebuilder said the period of uncertainty will lead to a delay in the timing of legal completions, a rise in cancellation rates and a material slowdown in new sales for Persimmon. As such the [...]
Coronavirus to bring UK house prices growth to ‘juddering halt’ March 25, 2020 The coronavirus outbreak is set to bring UK house prices to a “juddering halt” in the coming months, a top economist warned today. UK house prices fell 1.1 per cent between December and January. But they were 1.3 per cent up on the previous year, data released today showed. The Office for National Statistics said [...]
Government under pressure to suspend non-essential construction work March 25, 2020 The government is facing growing pressure to halt non-essential construction work as it tries to grapple with the coronavirus outbreak. In a Downing Street briefing on Tuesday, health secretary Matt Hancock said construction workers could and should continue to work so long as they are two metres apart. “The judgment we have made is that [...]
Construction on 22 Bishopsgate stops due to coronavirus March 24, 2020 Construction workers on the site of upcoming City skyscraper 22 Bishopsgate have downed tools today in response to the latest coronavirus restrictions. Multiplex, the contractor building the new Square Mile high rise, shut all its work sites today, after Boris Johnson implemented an effective three-week lockdown last night. The government said open air construction could [...]
Redrow scraps interim dividend as coronavirus restrictions tighten March 24, 2020 Housebuilder Redrow is cancelling its interim dividend, anticipating a sharp drop in sales as the government tightens restrictions amid the coronavirus outbreak. The FTSE 250 company said it is cancelling its 10.5p interim dividend, amounting to £37m, which was due to be paid next month. Shares in Redrow are up five per cent. Redrow said: [...]
Coronavirus: Taylor Wimpey cancels dividend and draws down £550m March 24, 2020 Taylor Wimpey has cancelled its dividends for the year and drawn down £550m in credit facilities to protect its balance sheet against the impact of Covid-19. The housebuilder said it had felt the effect of government shutdowns in its UK and Spanish businesses over the past few days. Taylor Wimpey said it had put contingency [...]
Blackstone buys Clearbell Capital’s £120m logistics portfolio March 23, 2020 Private equity firm Blackstone has bought 22 logistics sites from Clearbell Capital as consumers turn to online shopping in response to the coronavirus outbreak. Clearbell Property Partners III, a fund managed by private real estate fund manager Clearbell Capital, has sold its industrials and logistics portfolio for £120m. The portfolio comprises of 22 small to [...]