Bovis expects half-year rise in profits despite Brexit uncertainty July 9, 2019 Bovis Homes looked to shrug off troubles in the property sector today after forecasting that it will report a significant improvement in profit for the first six months of 2019. The housebuilding giant said it delivered a total of 1,647 house completions in the six months to the end of June, rising from 1,580 during [...]
Habito launches its own range of mortgages after green light from regulator July 9, 2019 Online mortgage broker Habito has launched its own range of products as it looks to stake its claim in the mortgage market. Habito, which currently allows customers to search for loans from other providers, has now revamped its platform to offer its own range of mortgages. Read more: UK property market: Mortgage approvals dip from [...]
UK house prices surge 5.7 per cent in June July 5, 2019 UK house prices shrank by 0.3 per cent in June compared to the previous month, according to data released today. But the growth rate rocketed 5.7 per cent on an annual basis last month, according to Halifax’s latest house price index, to take the average UK house price to £237,110. Read more: UK house price [...]
European Medicines Agency to sublet Canary Wharf HQ to Wework after High Court defeat July 4, 2019 The European Medicines Agency (EMA) is leasing its entire London office to fast-growing flexible space provider WeWork, having lost a court battle to cancel its £500m rent contract in the wake of its planned move to Amsterdam post-Brexit. Read more: Europe’s development bank lured into new Canary Wharf HQ WeWork is taking up the 284,000 [...]
MJ Gleeson records 25 per cent jump in new home numbers July 4, 2019 Shares rose at housebuilder MJ Gleeson today as it recorded a 25 per cent jump in the number of completed homes for this financial year. Read more: MJ Gleeson CEO: Our customers don’t give a damn about Brexit The affordable homes builder told investors it has built 1,529 homes for the year ending 30 June, [...]
Persimmon revenues drop as fewer homes completed July 4, 2019 Higher house prices were not enough to boost Persimmon’s top line in the first six months of the year as fewer homes stood ready in the half. Revenues at the company dropped 4.5 per cent year-on-year to £1.75bn. Read more: UK house prices – Growth falls to four-month low in June A higher average selling [...]
CBRE makes £267m swoop for London developer Telford Homes July 3, 2019 Real estate giant CBRE is set to snap up FTSE housebuilder Telford Homes as it plans to cash in on the UK’s growing build-to-rent market. The US property giant has reached an all-cash agreement to buy Telford for roughly 350p per share in cash, valuing the deal at £267m and representing an 11.1 per cent [...]
Purplebricks quits US market as losses almost double July 3, 2019 Online estate agent Purplebricks today confirmed it is pulling out of the US, just two years after launch. The figures Revenue at the company grew 55 per cent over the year to £136.5m in the year ending 30 April. Loss before tax shot up to £56m, from £29.2m. Read more: Purplebricks beaten black and blue [...]
Risk of missing housing targets if modern methods are not embraced July 3, 2019 An influential group of MPs has warned the government that it risks missing its target to build 300,000 homes a year by the mid-2020s if it does not shrug off a reliance on traditional construction methods. Fears over a current shortage of housing have been underlined in a new report from the housing, communities and [...]
St Modwen boosts profit on growth in logistics sector July 2, 2019 FTSE 250 property developer St Modwen boosted profit in the first half of 2019 driven by its expansion in the warehouse and logistics sector. The figures Profit for the six months to the end of May was £23.1m, up from £20.8m compared to the first half of 2018. Basic earnings per share increased from 9.4p [...]