Housebuilders’ share prices struggle towards the pre-referendum summit after positive outlook from Telford Homes and Countryside October 12, 2016 Telford Homes' share price jumped 4.7 per cent in early morning trading after the company issued a confident trading update, pulling other housebuilders towards their pre-referendum prices. Countryside Properties' shares were also on the up – increasing 3.5 per cent at time of writing – when the housebuilder said any impact from the June referendum had been mitigated. [...]
This is how sterling’s unstoppable slide will affect UK house prices October 12, 2016 After a freak six per cent fall when markets opened in Asia last week, sterling is in free fall. The fall obviously has implications for people going abroad – but what about people here at home? We asked the experts what the flash crash will do to UK house prices. Read more: This is how the [...]
New Nobu Hotel in Shoreditch says there’s nothing fishy about Brexit, is hungry for global tourists October 11, 2016 The team behind the upcoming Nobu Hotel in Shoreditch hope to capitalise on Britain’s tumbling pound by luring wealthy foreign visitors. The five-storey, 150-room hotel on Willow Street in Hackney – originally slated to launch in 2014 but delayed by “construction issues” – will finally open its doors in spring 2017, just in time for [...]
Official statisticians reveal what Britons think will make them the most money for later years October 11, 2016 Britons think the best way to save for retirement is to invest in property rather than a pension scheme, according to research by the Office for National Statistics (ONS). Although respondents to the ONS survey admitted that an employer pension scheme was a safer way to save, nearly half felt that investing in bricks and mortar was best way to [...]
Hipster hammering: City Fringe offices landed with huge business rate increases October 11, 2016 London's hipster office hubs will be under intense pressure when the new business rates come in next year, as new figures highlight the extent of the tax increases that are set to burden the City Fringe. The government has published its first business rate re-evaluation for seven years. The new tax for each property is based [...]
The average price for a detached family home in London has hit £1m October 11, 2016 The average price for a detached family home in London has hit £1m. According to research by Hamptons International, families looking for a detached home in London now pay an average £1,028,376, up from £963,510 last year – an annual price increase of 6.7 per cent. The disparity between the price of detached family properties [...]
McCarthy & Stone’s share price climbs on positive outlook October 11, 2016 Retirement housebuilder McCarthy & Stone's share price climbed seven per cent in morning trading on the back of a strong trading update. The company suffered following the Brexit vote; sales slowed and cancellation rates on the purchase of its properties increased. This hit McCarthy & Stone's forward sales order book, which dropped to £114m on 2 [...]
Is £2bn enough to fix the housing market? October 11, 2016 Last week the government announced plans for a £2bn accelerated construction fund that will be used to guarantee housing schemes, including deals to purchase homes that do not sell. The guarantee, which will be achieved by the Homes and Communities Agency (HCA) directly selling any ‘government purchased homes’ on the market, to the private rented [...]
Housebuilders and domestically-focused stocks hit by fears of hard Brexit October 10, 2016 The aftershocks of sterling's flash crash last week are still being felt in the City with domestic stocks suffering in trading today. When markets opened in Asia on Friday, the pound fell six per cent in two minutes, a plunge thought to have been caused by automatic trading systems responding to comments by French President Francois [...]
Here’s what the Monopoly board of 2016 looks like October 10, 2016 When Monopoly was created in 1935, the price tag for a Mayfair property was just £400 – but house prices have changed a lot since then. So if the Monopoly board was drawn up now, what would it look like? The cheapest parts of the board are still the same, but the average price on [...]