Going where no market has gone before: Dow Jones and S&P 500 scale new heights on Black Friday November 25, 2016 Most of the US population might be out beating each other to a pulp to get at Black Friday deals – but traders were on more of a share-buying frenzy, sending two of the US' blue chip indexes to record highs. The Dow Jones jumped more than 50 points to 19,143.9 points in early trading in [...]
Autumn Statement opinion: Will the Chancellor’s ban on fees kill off the high street letting agent? November 25, 2016 Two days on and the property industry is still reeling from the Chancellor Philip Hammond’s decision to ban letting agent fees for tenants almost immediately. It shouldn’t have come as a surprise, given that these fees were banned in Scotland four years ago and the Government has actually been consulting on them for the last [...]
Misery on the evening commute, with severe delays on the Piccadilly Line expected to continue as half its trains are out of service November 25, 2016 Expect severe delays across the Piccadilly Line this evening after Transport for London said it was still struggling to deal with a shortage of trains. TfL has taken almost half of the Piccadilly Line fleet out of service in order to make repairs – this is more than usual and has been blamed mainly on poor [...]
Property of the Week: Church Grove in Kingston, an enormous Victorian treasure on the edge of a royal park, is on sale for £2.695m November 25, 2016 If you have a conservatory in your house, you’re considered pretty lucky. But few have one that was built in the 19th century that’s secured with a stable door straight from Hampton Court Palace. Church Grove, a six-bedroom house in Kingston-Upon-Thames, does though. Foxtons has been marketing the unusual feature as a “sun room”, but [...]
There’s been a double ousting at Tata Steel November 25, 2016 The Tata Steel board has ousted chairman Cyrus Mistry after Tata Sons, the principal shareholder of Tata Steel, called for a vote on the matter. Director Nusli Wadia has also been removed from the board. Read more: Ousted Tata chairman Mistry to remain head of Tata Steel In a statement to the Bombay Stock Exchange, Tata Steel [...]
Network Rail reveals huge growth in retail sales at London’s railway stations November 25, 2016 Retail sales at London's railway stations have grown at a titanic 17 times the high-street average, despite the number of passengers visiting them remaining the same. Sales during the three months since Britain's vote to leave the EU grew at 3.7 per cent across Network Rail's 10 London stations. This compares with high-street growth of just [...]
New Builds: Homes on sale this week on a new town square in Ealing and Help to Buy in Sydenham November 25, 2016 Dylon Works, Sydenham From £227,997 with Help to Buy London, from £389,995 for private sale apartments Over 200 homes will go on sale tomorrow, with the option to take out a 40 per cent equity loan via the government’s Help to Buy London scheme. Primed for first time buyers, 221 out of 223 one to three bedroom [...]
Sirius Real Estate to move to main market in 2017 November 25, 2016 AIM-listed Sirius Real Estate is planning to move to main market in early 2017, City A.M. understands. The property company, which focuses on commercial property in Germany, is expected to announce the news in the new year. Read more: Angela Merkel confirms she will seek fourth term Sirius is listed in both London and Johannesburg. It [...]
The average £1m London home now has fewer than three bedrooms November 25, 2016 The average home worth £1m in the capital has just 2.9 bedrooms, figures have suggested. Using data from OntheMarket.com Savills researcher Lucian Cook found homes valued at between £900,000 and £1.1m across the rest of the UK have more than four bedrooms – while in London, it is fewer than three. The next lowest figure [...]