Largest UK housebuilder Barratt hits record pre-tax profits and builds highest number of homes in a decade September 5, 2018 The UK's largest housebuilder Barratt Developments has announced record pre-tax profits of £835.5m for the year after building its highest number of homes in a decade. The company said it had built 17,579 homes in the year to June – an increase of one per cent on the previous year. Its average selling price also rose by [...]
Housebuilder Berkeley warns UK housing market ‘lacks urgency’ September 5, 2018 Housebuilder Berkeley Group has warned of Brexit “headwinds” harming the UK housing market’s prospects for growth, with London and the south east particularly affected. However, it expects to post strong financial performance for the four months to the end of August, the construction firm said in a trading update it will share at its annual [...]
Now is not the time to reform Help to Buy – it’s the time to scrap it entirely September 5, 2018 Housebuilders weighed on the FTSE yesterday following reports that the government is unlikely to extend the Help to Buy programme – in its current format – beyond 2021. Help to Buy has been doping up the housing market for more than half a decade since former chancellor George Osborne revealed his plan to stimulate demand. Prices [...]
Real estate giant swoops in for prime London student property September 4, 2018 One of Europe’s largest real estate investors agreed to buy a prime central London student block for nearly £70m today, in a move that reflects the growing level of property investment being poured into the capital’s student accommodation sector. Aberdeen Standard Investments, which manages more than £43bn of real estate assets, has splashed out £68.8m [...]
FTSE 250 housebuilder Redrow boosts profits but calls for Brexit clarity September 4, 2018 Housebuilder Redrow called for clarity over Brexit and the government’s Help to Buy scheme today to improve the health of the UK housing market, as it reported its full-year results. The figures Despite the deflating nature of the UK housing market, the FTSE 250 firm managed to buck the trend, posting a 16 per cent [...]
Property bosses vent frustration in wake of Crossrail delays September 3, 2018 Senior property executives expressed anger and frustration today at the delay in the opening of Crossrail, as it emerged the postponement of the new line could result in substantial house price falls along its route. Emoov research carried out for City A.M. suggests property values could sink as much as £10,000 in the short-term, with [...]
Take a look at this Monopoly board that’s been re-designed for 2018 London house prices September 3, 2018 A London tech startup has re-designed the classic Monopoly board to reflect property price growth in the capital over the last five years, with some staggering switch-ups for key hotspots. The board was first designed in the 1930s, so it's a given that the London property landscape might have changed a bit since then. Proportunity, [...]
Exclusive: Asian buyer nears £425m deal for Commerzbank HQ September 2, 2018 Commerzbank’s London HQ is set to be sold in a deal worth almost £500m to an undisclosed Asian buyer later this week, City A.M. understands. An agreement for 30 Gresham Street, which was put on the market by Samsung Life Insurance earlier in the summer, is reportedly nearing its final stages, as the burgeoning Asian demand [...]
Opinion: How to tell if you’re in a buyer or a seller’s market and how that affects your purchase/sale? August 31, 2018 How do I know if my area is a seller’s market? A seller’s market is great news for homeowners. The balance of power is in your favour as there are more buyers than homes for sale in the area. Properties sell quicker and often attract multiple offers causing a bidding frenzy. At PropCast, we’ve built [...]
Focus On Knightsbridge: Who actually lives in the land of Harrods and what homes are set to be ‘superior’ to One Hyde Park? August 31, 2018 Fast cars, flagship designer stores and fancy restaurants are all things that characterise Knightsbridge in the London hive mind. But who actually lives amongst this finery where, according to Hamptons International, the average home goes for £3.5m? “Vietnamese, Turkish, American, Bahrani, French, Italian…” reels off Charlie Willis, head of London residential agency at Strutt & [...]