First-time buyers beat off Brexit fears and paid record prices for property in May June 29, 2016 Brexit fears didn't put first-time buyers off from mounting the property ladder, as data out today shows they spent record sums on their homes in May. First-time buyers paid an average of £173,282 on their first ever home in May – a record high – according to data from estate agents Your Move and Reeds [...]
Remortgaging in May was at its highest level since 2008 – but experts predict Brexit woes will hang over the market until aumtumn June 29, 2016 Remortgaging hit £5bn in May, the highest value for May since 2008, according to research released today. At 32,334, the number of remortgage loans was 31 per cent higher in May than in the same month last year, according to research from Legal Marketing Services (LMS). The average amount of equity withdrawn was £33,600, up 43 per [...]
Investors pull out of property and UK equity funds after Brexit June 28, 2016 Retail investors are pulling out of property and UK equity funds, according to an online investment platform. The number of trades on Rplan.co.uk was up 175 per cent over the weekend after the Brexit vote compared with the previous weekend. The company said 76 per cent of withdrawals were from property funds and 22 per [...]
What doesn’t kill you makes you stronger? Housebuilder shares stage partial recovery June 28, 2016 Housebuilders showed that any reaction is a good reaction this morning, after almost all their share prices staged partial recoveries following yesterday's carnage. FTSE 100-listed Barratt, Berkeley Group, Taylor Wimpey and Persimmon all triggered the London Stock Exchange's circuit breaker yesterday, meaning their shares were suspended from trading for five minutes after they fell more than [...]
Shares in housebuilder Redrow rise again as it reassures shareholders over Brexit vote June 28, 2016 Housebuilder Redrow has been one of the biggest casualties of post-Brexit market turmoil, with shares falling 30 per cent between Thursday's close and last night. But it seems investors just needed a little bit of reassurance: this morning shares bounced 9.5 per cent to 322.6p after it put out a statement pointing out everything's going [...]
Berkeley Group’s share price looks up as Tony Pidgley spends £800,000 on shares June 28, 2016 Berkeley Group's share price went up this morning after it emerged the company's chairman, Tony Pidgley, had bought another five per cent of the firm's shares for just under £800,000. In a statement this morning the company said Pidgley has bought 35,061 shares, a 4.7 per cent stake, at £22.69 a share yesterday, its share price plummeted. Director Glyn [...]
Demolition derby: Housebuilders trigger circuit breaker as their shares head for a second day of falls June 27, 2016 Shares in all the FTSE 100-listed housebuilders were suspended from trading for five minutes this morning as housebuilders fell for the second consecutive trading day. Taylor Wimpey was the first to trigger the London Stock Exchange's so-called circuit breaker by falling more than eight per cent on its opening price, causing it to be suspended for five minutes, as investors showed their nerves over [...]
London house prices: First of many? Foxtons issues profit warning after Brexit vote June 27, 2016 Shares in struggling estate agent Foxtons plummeted as the market opened after it became one of the first property giants to issue a profit warning off the back of the UK's Brexit vote. Shares fell more than 16 per cent to 112.94p after the company put out a statement this morning saying challenging conditions it had previously referred to [...]
New homes on sale in London this weekend: from flats on “Billionaire’s Row” to Regency style mews in Wimbledon June 24, 2016 Buxmead, Hampstead From £6.9m to £17m Though it’s only recently been dubbed “Billionaire’s Row”, Bishops Avenue in north west London has housed media magnates, Saudi Princes and A-List celebrities in its gated mansions for over a century. Criticised in some circles for its empty homes, a rare new build development went on sale last week [...]
Focus On Harrow: Why this north west London suburb is popular with families and first time buyers June 24, 2016 The north west London suburb of Harrow is all too often synonymous with the prestigious boys’ boarding school with which it shares its name. Certainly, the school has influenced the growth of central Harrow through the centuries; following a big expansion of the school in the 19th century, housing was built for its staff resulting [...]