Submit a story
Tell us your story.
Property outsourcing and investment firm Mapeley bucked the trend in the battered property market and saw its funds from operations (FFO) rise 129 per cent to £63.1m yesterday. The firm, which counts HM Revenue & Customs as one of its clients, posted the large rise in funds from operations – a key measure that demonstrates [...]
The drip feed of bad news for the property market continued yesterday when Britain’s biggest lender Halifax revealed that house prices have fallen back to mid-2006 levels. House prices are now 8.8 per cent lower than they were this time last year, Halifax said, with an average home in Britain costing £21,733 less than July [...]
Developer Quintain unveiled plans to slash costs yesterday, saying it was cutting jobs at its Wembley project and will pay no dividend for up to two years. The property company, which is redeveloping the 85 acres surrounding the north London Wembley stadium into a large retail, leisure and residential scheme, said it was axing over [...]
The clouds gathering over the housing market darkened yesterday when Britain’s biggest building society reported the biggest annual drop in house prices since records began. Mortgage lender Nationwide said property values were now 8.1 per cent less than last year ago, almost a £15,000 decrease. The average cost of a home in Britain is now [...]
Look to the States or Morocco for a sporting second home, writes Alex Delmar-Morgan As the Open Championship at Royal Birkdale reached its nail-biting conclusion recently, with Irishman Padraig Harrington pipping veteran Aussie Greg Norman to win the claret jug, many around the country were surely visualising themselves ambling round a gold-course, driver in hand, [...]
Property industry experts yesterday sharply criticised the government commissioned Crosby report on the crippled state of the mortgage market for failing to take immediate action to relieve the problem. In his interim report, published yesterday afternoon, Sir James Crosby, the former boss of HBOS, said the mortgage markets would remain jammed another three years, possibly [...]
Britain’s battered housing market received a boost yesterday after an influential report predicted that house prices would rise 25 per cent by 2013. The data, published yesterday by the National Housing Federation, said that the average price of a home in Britain would increase by a quarter over the next five years to £274,700, with [...]
Fresh evidence that the housing market is continuing to deteriorate emerged today as an influential survey revealed prices fell for the tenth month in a row – with most of the declines hitting London. House prices fell a further 1.2 per cent in July, compared to a 1 per cent fall from June, according to [...]
Distressed sellers driving the gloomy housing market down cut average asking prices by a dramatic £4,345 or 1.8 per cent in July, new figures out today show. The 1.8 per cent fall in values this month follows a 1.2 per cent drop in June, as house prices registered their first year-on-year decline since property website [...]
Two property companies held by Dawnay Day, the financial services and property conglomerate owned by Guy Nagger and Peter Klimt, have been placed into receivership. It comes as Dawnay Day told its staff this week that redundancies were likely to be made. A spokesman said while job losses are not certain advice has been given [...]
Subscribe to the City A.M. newsletter to have our top stories delivered directly to your inbox.
Subscribe to get the essential daily news updates from City A.M's top stories to your inbox.