Savills’ share price edges up on dividend hike and strong revenue growth August 9, 2016 Savills' share price benefited from a strong set of results and a divident hike this morning, as the estate agent asserted its "resilience" in the aftermath of the Brexit vote. The company's share price was up 1.02 per cent in morning trading. The figures Revenue at Savills was up 14 per cent, increasing from £547m in 2015 to £627.7m this year. [...]
Rents continued to climb in July – but the rate of growth is slowing August 9, 2016 Rents kept climbing in July – but the rate of growth is cooling in the second half of the year. According to data from Homelet, rents agreed on new tenancies in the UK over the past three months increased by 2.3 per cent as compared to the same period last year – excluding London. Read [...]
Savills investment management launches €300m fund August 8, 2016 Savills investment management has launched a €300m fund on behalf of two Italian investors. The Mercury fund has been launched for CONAD, the largest independent retailer consortium in Italy, and the Italian insurance group Gruppo Cattolica Assicurazioni. The fund will allow three CONAD cooperatives to sell and lease back retail properties across central and northern Italy on long-term leases, [...]
Office capital values in the City of London hit after the Brexit vote August 8, 2016 Commercial property capital values fell in July due to heightened uncertainty after the Brexit vote, and offices in the City of London were the worst hit. Capital values fell by 3.3 per cent, according to CBRE's monthly index, with the value of offices in the City of London falling by 6.1 per cent. Read more: Commercial and City [...]
Here’s how much the UK government made from property taxes last year August 8, 2016 Anyone who thought this year's stamp duty hike on second homes was a bit harsh, we suggest you look away now: new research has suggested the government made a whopping £67bn on stamp duty, council tax and business rates last year. According to figures from the Taxpayers' Alliance (TPA), the government raked in £1.8bn or 2.8 per cent more in 2015 [...]
Commercial and City property prices crumble following Brexit vote August 7, 2016 The extent of damage to commercial property prices caused by the UK vote to quit the European Union will be laid bare this week. Analysts at UBS Asset Management expect figures from Investment Property Databank to show on Friday that commercial property values fell by four per cent in July with the value of City offices [...]
Good, bad, ugly? Nobody can agree on what the recent house price data means August 5, 2016 Halifax said this morning that house prices fell between June and July and that annual and quarterly rates of house price growth are slowing. City A.M. has heard talk of buyers wanting 10 per cent off the price of properties because of the Brexit vote, and earlier this week, Knight Frank said prices for high-end houses in [...]
Which Olympic-themed streets have the highest house prices? Zoopla answers the question no one was asking August 5, 2016 In the grand scheme of questions we had about the Rio 2016 Olympics ("Will all the buildings actually be finished by tonight's opening ceremony?", "Could those swimming trunks be any smaller?", etc), "does having the word 'Bolt' in my street name affect the value of my house?" wasn't one of them. But the good people at online [...]
Housebuilder Bellway’s share price climbs after positive set of results August 5, 2016 Residential property builder Bellway's share price climbed this morning after a strong set of results, rising 4.19 per cent in morning trading. But the company said it is "cautious" about how many sites it acquires after to the Brexit vote. Bellway added: "Since the result of the EU referendum, there has been some modest caution from a [...]
House prices fell month-on-month in July, and quarterly price growth has slowed August 5, 2016 House prices fell between June and July – but there was growth year-on-year, Halifax data released this morning has shown. Property values in the three months to July were up by 8.4 per cent compared to the same period last year, according to the Halifax house price index. Prices between May and July were 1.6 [...]