Markets: Three things we learned this week May 5, 2023 This week the markets had a lot to digest, bumper energy profits, the tail end of the banking sector’s latest round of results, and a rate rise from the Federal Reserve. There was also some positive house price data, which gave the FTSE 100 a spring in its step. With Coronation weekend looming we take [...]
Taylor Wimpey warns of more housing pain – but better profits than first expected November 9, 2023 The FTSE 100 firm’s trading update mimicked that of its rival Persimmon, who on Tuesday warned of market trouble next year, while simultaneously raising the number of homes it plans to build.
Action by competition watchdog frees leaseholders from costly contract terms December 22, 2021 Leaseholders of housebuilder Taylor Wimpey will no longer be subjected to ground rents that double every ten years after action by competition watchdog.
Bridgepoint enlists Rothschild for £1.3bn Miller Homes sale amid housing boom October 2, 2021 Bridgepoint is seeking to capitalise on soaring valuations as the housing market booms, with the sale or float of Miller Homes, one of the UK’s biggest housebuilders. The private equity firm has appointed investment bank Rothschild to advise on its potential exit from Miller Homes, four years after it bought the company from GSO Capital [...]
£11.05 per hour in London: 300,000 Brits get pay rise following hike in real living wage November 15, 2021 The new hourly Real Living Wage rate will be £11.05 in London and £9.90 outside the capital from today, increases of 20p and 40p respectively, it was announced. As a result, more than 300,000 workers are set to receive a pay rise as higher rates were announced for the Real Living Wage, a voluntary rate [...]
Leaseholder victory: Countryside to remove ground rent doubling terms after CMA action September 15, 2021 Developer Countryside Properties has struck out terms meaning ground rents double every 10 to 15 years, after a watchdog’s instruction Leaseholders’ ground rents will stay at the amount charged when they first bought their home, following action by the Competition and Markets Authority (CMA). The Big Four developer has voluntarily given formal commitment to removing [...]
Persimmon hires new chief finance officer as house builder’s revenue climbs to £3.61bn January 13, 2022 House building firm Persimmon has appointed Jason Windsor as its new Chief Financial Officer as the company aims to be “the leading builder of good value, quality family homes in the UK”.
Persimmon warns of sales slide as interest rate rises push up the cost of mortgages January 12, 2023 Persimmon achieved sales at the top end of its 2022 guidance, despite the mortgage crisis and the wider economic downturn in the second half of the year. The York headquartered company, one of the UK’s largest housebuilders, sold 14,868 new homes last year a rise of two per cent compared to 14,551 in 2021. The [...]
Persimmon appoints PwC veteran as new CFO after housebuilding improvement and share rally November 8, 2023 Persimmon has chosen Andrew Duxbury to become its chief financial officer amid a rally for homebuilders as market conditions show signs of improvement.
Homeowners could still sue for damages amid leasehold ground rent reforms June 24, 2021 Even though Persimmon Homes and Aviva have agreed to change the way they operate in regard to leaseholds and ground rent charges, homeowners could still be entitled to compensation, according to legal experts. Following a recent investigation by the Competition and Markets Authority (CMA), house builder Persimmon will allow its leaseholders to buy the freehold [...]