How to profit from the Chinese art market and bag some cutting edge paintings while you’re at it March 2, 2017 Which country has the world’s largest art market? Hint: if you’re thinking anything other than “China”, then you’re wrong. Art information website artprice.com estimates that in the first half of 2016, China accounted for 35.5 per cent of the $6.53bn global art sales. Someone out there is making a killing from the Chinese art market, [...]
Travis Perkins’ share price heads south as profits plunge March 2, 2017 Travis Perkins' share price has dropped by 8.5 per cent today after the builders' merchant's profit slumped and it fired a warning-shot about the UK economy. The figures In the year ending 31 December, Travis Perkins' profit before tax slumped 67 per cent, down from £224m to just £73m. Like-for-like revenues grew 2.7 per cent, up from £5.9bn to [...]
UK housebuilders’ shares rise as mortgage approvals hit highest level since February last year March 1, 2017 Housebuilders' share prices rose today after figures from the Bank of England showed that in January mortgage approvals hit the highest level since February 2016. The Bank reported a 2.4 per cent month-on-month rise in January, bringing the number of mortgages to 69,928. Read more: UK house prices rose by just £600 last month This [...]
UK government sets up first ever pavilion at Mipim to drum up business ahead of Brexit March 1, 2017 The UK government is setting up its first ever pavilion at property’s most important trade event to drum up international investment ahead of Brexit. At Mipim in Cannes thousands of investors, developers and property moguls will meet to do business – and socialise on multi-million pound yachts. Read more: Vincent Tchenguiz is getting a new superyacht – but [...]
British Land and Oxford Properties have sold the Cheesegrater for £1.15bn March 1, 2017 British Land and Oxford Properties have exchanged contracts for the sale of the Leadenhall Building to C C Land for £1.15bn. Shareholders of the Hong Kong-listed C C Land must now approve the sale before it can be completed. Tim Roberts, head of offices and residential, British Land, said: "British Land and Oxford Properties took [...]
The Chelsea house price plunge: here’s how low prices will go March 1, 2017 Stamp duty changes rocked the central London housing market last year as buyers became less keen to fork out thousands of pounds in transaction taxes for homes worth over £1m. Asking prices on high-end homes in London's most affluent boroughs were slashed – some by as much as 30 per cent – as home-movers sought [...]
UK house prices rose by just £600 last month March 1, 2017 UK house price growth was flatter than yesterday's pancakes in February, with prices inching up just 0.6 per cent between January and February. That works out at an average of £600. Figures published by Nationwide showed prices grew 4.5 per cent in the year to February, up very slightly from January's 4.3 per cent. The [...]
A new wave of foreign millionaires is poised to buy ultra-exclusive London property thanks to the weak pound February 28, 2017 Another wave of foreign millionaires is poised to buy up ultra-exclusive homes in London, after the weak pound turned property in the capital into an increasingly enticing proposition, a new report has suggested. The Ultra Prime Barometer Report suggested buyers from the US, Middle East and India were all getting ready to take advantage of [...]
Derwent London’s shares rise on new lettings and special dividend February 28, 2017 Office developer Derwent London's share price climbed this morning after it lifted its final dividend by 25 per cent and also announced a special dividend. The figures In its results for the year ending 31 December, Derwent posted a net rental income growth of 5.2 per cent, up from £138.7m in 2015 to £145.9m last year. The [...]
Taylor Wimpey’s profit jumps over 20 per cent February 28, 2017 Taylor Wimpey left 2016 on a high, reporting this morning that its profits jumped more than 20 per cent last year. The figures Profit before tax jumped 21.5 per cent, from £603.8m in 2015 to £733.4m last year, and revenue rose 17.1 per cent year-on-year from £3.14bn to £3.68bn. Read more: Safe as houses? London [...]