Barratt Redrow hopes to defy housebuilding gloom by splashing cash Property As some of London’s listed housebuilders take emergency measures to cut costs amid rising building costs and stagnant demand for homes, one firm is splashing the cash. Barratt Redrow, which will announce its full-year numbers on Wednesday, defied the miserly approach taken by its rivals earlier this summer when it said it will buy back [...]
Stamp duty reform is ‘urgent,’ Berkeley tells Burnham Property Berkeley has urged Andy Burnham to commit to “urgent reform” to stamp duty, which it says has become a “binding constraint” on housebuilders and buyers. The FTSE 250 firm said that stamp duty is to blame for the slump in demand for new homes, because it makes first-time-buying unaffordable and dissuades existing homeowners from moving [...]
Mortgage rate hikes cost London homebuyers £35,000 Property The surging mortgage rates caused by the Iran war have forced the average London homebuyer to fork out an extra £35,500 for their deposit. The rising cost of borrowing caused by the Middle East conflict has meant that the average deposit in the UK is £18,400 higher than in January – though costs have risen [...]
Budget 2026: Which taxes will Burnham and Healey hike? August 25, 2026 With interest rates on course to remain elevated and a new government keen to win over sceptical voters with cost-of-living measures, economists think tax rises at October’s Budget are all but guaranteed. But where will the new Chancellor look for revenue? Ali Lyon and Mauricio Alencar examine the most likely revenue raisers. Speak to any [...]
House prices suffer biggest August slump in eight years August 17, 2026 House prices in the UK have suffered their biggest August drop since 2018, as a usually quiet period for the property market is stifled further by fears of Budget tax rises. The average house price slumped by two per cent this month to £364,999, according to property portal Rightmove. House prices are down one per [...]
Stamp duty on shares is ‘biggest handbrake’ says UK bank chief August 13, 2026 The boss of a London-listed bank and former Labour party donor has called for stamp duty on shares to be ditched in the Autumn Budget to boost trading from retail investors. Ian Corfield, the boss of Secure Trust Bank, told City AM one of the firm’s “biggest challenges is trying to generate liquidity into the [...]
Ten bold ideas to fire up the British economy August 13, 2026 City AM is about to take its traditional two-week break from printing the newspaper. Very French of us, I know. Don’t worry – the team’s not going anywhere and the website, app, newsletters and studios will continue to fire on all cylinders. But since this is the last Editor’s Letter I’ll pen before we fire [...]
Housebuilder Bellway calls for ‘immediate’ cut to stamp duty August 11, 2026 Housebuilder Bellway has called on the government to slash stamp duty immediately and roll out a first-time buyer scheme to revive Britain’s flagging housing industry. The FTSE 250 firm said on Tuesday that housing demand has been hammered by last year’s pre-Budget speculation and the recent rising mortgage rates triggered by the Iran war. Jason [...]
Gary Stevenson is right, rich people want to help Britain – here’s how to let them do it August 5, 2026 Gary Stevenson and the ‘Patriotic Millionaires’ plan for a wealth tax is the wrong way to get wealth working for Britain. Here’s three much better ideas, says Nick Finegold A fortnight ago, 120 millionaires, including Gary Stevenson and Gary Lineker, wrote to Andy Burnham asking to be taxed more. I do not doubt their sincerity. [...]
City trading ‘higher than thought’, FCA believes August 2, 2026 Trading volumes in London are up to three times higher in value than thought after so-called “dark trading” is taken into account, the City regulator believes. Analysis by the Financial Conduct Authority believes that trading valuations are much higher as some traders opt to use non-official channels. This kind of business, referred to as “dark [...]