Persimmon boss Jeff Fairburn walks off in interview about £75m bonus October 19, 2018 The chief executive of housebuilder Persimmon Jeff Fairburn refused to answer questions about his massive £75m bonus in an awkward interview with the BBC yesterday. Fairburn was in line for a bonus of over £100m last year before agreeing to donate £25m to charity to take his bonus to £75m. Read more: Help-to-Buy fuels rise in [...]
UK house prices: Growth slows again, falling to a six-year low in September as London sees prices plummet October 19, 2018 UK house price growth slowed again in September, down to its lowest annual rate in six and a half years at 0.9 per cent. The south east became the first region to report negative annual growth, with house prices dropping a modest 0.1 per cent year on year, according to Your Move’s House Price Index. [...]
TfL is building tiny, affordable one-bed flats around London for priced-out first-time buyers October 18, 2018 A series of “genuinely affordable” but tiny one-bedroom homes are set to pop up around the capital, marketed at buyers priced out of the housing market. Single people or couples buying one of the 125 flats would own the entire property from day one, said Transport for London (TfL), which has partnered with private developer [...]
Opinion: Why we must remember that Mark Carney’s warnings about house prices are a worst case scenario October 18, 2018 Mark Carney made headlines, and plenty of waves, with his comments on the possible effect of a no-deal Brexit on house prices. He said that they could fall by a third if we failed to strike a deal with the EU. Certainly, you would have to say that the governor of the Bank of England [...]
Blame the bank: How finance caused today’s housing crisis October 18, 2018 Home ownership is increasingly out of the reach of younger adults in the UK. The share of those aged 25-34 who own their home fell from 55 per cent in 1997 to 35 per cent in 2017, according the Institute of Fiscal Studies. A decade of stagnant wage growth means that the gradual house price [...]
Property of the Week: King George III’s house in Richmond’s Old Deer Park has a fully functional revolving dome observatory October 18, 2018 Live like royalty next door to Kew Gardens in this extraordinary house built for King George III. King’s Observatory, Richmond, £50,000pcm Owned by the Crown Estate, the house is leased to a businessman who lives between Hong Kong and London, but it’s now available to rent for the first time in its 250-year history. The [...]
New homes: Here are the new developments going on sale in London this week October 17, 2018 New developments on the market this week Weavers Quarter, Barking From £78,750 for a 30 per cent share (fmv £262,500) First time buyers can part-buy, part-rent new homes in east London. A show apartment is open for prospective buyers to view who wish to take advantage of the Shared Ownership scheme, where people buy a [...]
E-commerce demand helps boost rent for logistics warehouse giant Segro October 17, 2018 Warehouse property giant Segro’s rental income soared 43 per cent in the nine months to the end of September, amid burgeoning demand for new space from fast-growing e-commerce firms. The Slough-based FTSE 100 company, which is one of the UK’s largest listed property firms, said headline rent for the period hit £52m, rising from £36.4m [...]
UK’s largest housebuilder Barratt starts year in ‘strong position’ despite drop in reservations October 17, 2018 Housebuilder Barratt Developments looked to paint a positive picture in its trading update this morning, as it announced a rise in forward sales and remained confident of the year ahead. Total forward sales in the 15 weeks to mid-October were up 12.4 per cent on the prior year at a value of £3.1bn. However, reservations [...]
London house prices dip as growth slows to five-year low October 17, 2018 House prices growth in August dropped to its slowest annual rate in more than five years, as London's subdued housing market dragged down average property prices. New Office for National Statistics (ONS) data out today show house prices climbed 3.2 per cent in the year to August, marking the slowest pace of growth since August 2013. [...]