Investment trust Secure Income Reit has bought 55 Travelodges September 8, 2016 Secure Income Reit (SIR) – which owns real estate assets such as Alton Towers and Thorpe Park – has today announced the acquisition of 55 Travelodge hotels. The £196m acquisition is expected to increase SIR's rents by £13.7m; SIR expects a yield of seven per cent, which will rise to 7.3 per cent in October next year. The [...]
Zoopla’s share price edges upwards as it announces operating profit will be at the top end of expectations September 8, 2016 Online property portal Zoopla – a favourite among those who enjoy window-shopping for homes – said today that its operating profit will come out at the top end of its expectations this year. Zoopla's share price edged up 1.5 per cent in early morning trading on the news. The company owns several of the UK's digital platforms, including [...]
Best market for prime central London renters since the financial crisis September 8, 2016 Renters in prime central London locations, such as Marylebone and Mayfair, are enjoying the best market since the financial crisis. The number of new rental properties on the market in the three months to July 2016 increased 38.9 per cent year-on-year, according to Knight Frank's prime central London rental index. Read more: Prime central London house prices [...]
House price growth slowdown is happening faster than analysts expected September 7, 2016 House prices in the three months to August this year were 6.9 per cent higher than in the same three months of last year – the slowest rate of growth for almost three years. The annual rate of growth slowed from 8.4 per cent in July, continuing the downward trend since March when the annual rate reached [...]
Barratt Developments defies Brexit doomsayers with “confident” outlook September 7, 2016 The figures Barratt Developments' completions swelled by 5.3 per cent to 17,319 homes in the year ended 30 June, meaning it delivered completion volumes for eight years. This helped the housebuilder's pre-tax profit jump 20.7 per cent to a record £682.3m during this period, up from £565.5m a year earlier. The company also significantly strengthened its balance sheet, with Barratt's cash [...]
Rent growth continued to slow in August September 7, 2016 Rents kept on an upwards climb in August, but the pace of rent growth is slowing. In August, prices grew by 3.1 per cent year-on-year, according to HomeLet's rental index. Tenants signing new agreements paid an average £913 a month. Read more: Here's where private rents are increasing fastest (and it's not London) But this [...]
These are the university towns where house price growth could pay for tuition fees September 6, 2016 What with top-up fees and inflation, going to university has become considerably more expensive in the past few years – but what if you could kill two birds with one stone, and pay off your university fees with your accommodation? New research by HouseSimple.com has found the universities where house price growth in the local area [...]
Housebuilders’ share prices rise as the big-hitters brave the Brexit storm September 6, 2016 Housebuilders were some of the top risers this morning after big-hitter Berkeley Group said it would meet its £2bn profit target and Redrow posted record results. At time of writing, Berkeley Group was leading the FTSE 100 risers, as its share price was up 3.72 per cent. Redrow's share price was up 7.26 per cent. Taylor Wimpey and Barratt [...]
Redrow’s share price jumps as it announces record results September 6, 2016 Redrow's share price jumped five per cent in morning trading after the housebuilder announced a record set of results. The figures Redrow's revenue was up 20 per cent to £1.38bn, which the company said was down to a 17 per cent increase in completions and a seven per cent increase in the average selling price of units. For the year ending 30 June, the housebuilder made [...]
Berkeley Group’s home reservations hit by stamp duty and the Brexit vote September 6, 2016 Berkeley Group, the housebuilder recently relegated from the FTSE 100, has said in a statement today that reservations for its properties have fallen by 20 per cent as compared to last year. Stamp duty tax changes and the EU referendum had made trading more difficult, it said in its trading statement today, which covers the period from [...]