Wework considers cutting its listing valuation by half September 5, 2019 Wework’s parent company is considering dramatically slashing the valuation it will seek when it sells shares on the public stock market for the first time. Read more: Wework adds woman to board after criticism ahead of listing New York-based the We Company is deliberating seeking a valuation of just over $20bn (£16.2bn), people with knowledge [...]
Redrow reports record results but warns over end of Help to Buy September 5, 2019 Redrow reported the sixth consecutive year of record figures this morning after the housebuilder secured a 13 per cent boost to legal competitions. The FTSE-250 property developer reported record profit and revenue figures, but warned that changes to the government’s Help to Buy scheme and Brexit uncertainty would affect trading going forward. Read more: Redrow [...]
Wework adds woman to board after criticism ahead of IPO September 4, 2019 The We Company, which owns office space provider Wework, has said it will add a woman to its board of directors and unwind a $5.9m (£4.8m) payment to its chief executive for use of the trademarked word “we” as it prepares for an initial public offering (IPO). We Company had faced criticism from analysts over [...]
Housebuilder Barratt Developments defies Brexit jitters as profits climb September 4, 2019 Barratt Developments shrugged off concerns of a housing market slowdown today after reporting a rise in pre-tax profits for the year to June 2019. The figures Britain’s largest housebuilder, which has been reducing its exposure to Central London’s subdued property market, posted profits before tax of £910m in the 12 months to 30 June, rising [...]
Mortgages, pensions and other savings products are not designed for self-employed workers – here’s what needs to change September 4, 2019 A growing number of us are choosing to go it alone. According to recent figures from the Office for National Statistics, the number of self-employed workers is now nearing the five million mark. That’s around 15 per cent of the UK workforce, and a million more people than the same period in 2009, with London [...]
Hotel group Dalata buys Shoreditch site from Foxtons tycoon’s property firm September 3, 2019 Hotel operator Dalata has snapped up a plot of land in Shoreditch from Foxtons tycoon Jon Hunt’s property firm in a deal worth £32m. The Irish company today said it has secured the purchase of the Paul Street site, which has planning permission for a hotel with up to 140 rooms. Read more: Easyhotel bidders [...]
No-deal Brexit to accelerate London house price drop September 2, 2019 London house prices could sink up to seven per cent next year if no Brexit deal is reached by the 31 October deadline date, according to the latest research. If the UK exits the European Union with a deal London house prices will fall by a smaller 4.7 per cent, continuing the trend of declining [...]
Berkeley Group faces opposition to new bonus policy September 1, 2019 Berkeley Group is facing opposition to its payment policy after a shareholder advisory firm urged investors to vote against the housebuilder’s new bonus structure at a meeting this week. The payment policy has been opposed by Institutional Shareholder Services (ISS), which said proposals to axe its bonus were “unlikely to affect the remuneration received by [...]
Mortgage approvals hit two-year high while consumer credit growth remains stagnant August 30, 2019 Mortgage approvals for July hit a two-year high according to official data released on Friday. The Bank of England data revealed that lenders approved 67,306 mortgages last month, up from 66,506 in June. Read more: Londoners pay highest UK house premium to live closer to a station The housing market has endured a slowdown since [...]
UK house prices remain stagnant as no-deal Brexit looms August 30, 2019 UK house prices grew at less than one per cent for the ninth month in a row in August, Nationwide figures revealed today, prompting calls for Boris Johnson to slash stamp duty. The value of homes did not grow between July and August, Nationwide’s House Price Index found. Read more: London commuter belt house prices [...]