By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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House sales are suffering in areas that voted to stay in the EU

August 18, 2016

The property market has become skewed by how people voted in the EU referendum, with areas that voted to leave the EU becoming more active after the Brexit vote – and in areas that voted to stay, buyers ran for the hills. The number of sales that have fallen through in areas that voted Remain jumped [...]
Discounting drives biggest online sales growth in 20 months in July as retailers scrap with Amazon over customers

August 17, 2016

Online sales growth hit a 20-month high in July as summer discounts convinced internet shoppers to click to the checkout. Growth in July was 19 per cent year-on-year as the value for the average basket of goods fell from £80.52 in June to £78.39 last month, according to data from IMRG and Capgemini. Home and [...]
Target cuts its profit forecast as sales for electrical goods falter

August 17, 2016

Retail group Target cut its profit outlook yesterday after its quarterly sales fell by more than expected. The sales drop was due to a weakened demand for electronics and a disappointing performance for its grocery business. The company said like-for-like sales in the second half of the year would be between flat and minus two [...]
Union courts M&S staff as retailer’s pay row rolls on

August 17, 2016

Shopworker's union Usdaw is urging M&S staff to join its ranks as the retailer's pay row between staff and management intensifies. The union has been having meetings with M&S staff over the company's proposed cuts to pay and pension contributions. Usdaw have held around 11 meetings so far across the UK in places such as Liverpool, Manchester and Stockport, and have so far contacted [...]
Norway’s sovereign wealth fund cuts the value of its UK property portfolio due to the Brexit vote

August 17, 2016

Norway's sovereign wealth fund – the largest in the world – has cut five per cent off the value of its UK real estate portfolio due to the Brexit vote. Trond Grande, deputy chief executive of the 8,177bn kroner (£668bn) fund, said at a press conference in Oslo: "It's an extraordinary measure. "It was pointed out [...]
Houses in the West End are still selling like hotcakes, says CBRE

August 17, 2016

Home sales have remained "strong" for CBRE after Brexit, with the company reporting it has exchanged on nearly £60m worth of residential property in the second quarter of this year. The transaction value achieved by CBRE was its second highest for the last four years. Read more: Here's everything that's happened to house prices since the Brexit vote Three [...]
Farm land prices expected to fall as demand falters due to uncertainty

August 17, 2016

Demand for rural land has fallen over the last six months – and prices are expected to follow suit. According to the Royal Institute of Chartered Surveyors (RICS), 49 per cent of members expect prices for farm land to fall over the next few months. Read more: Everything that's happened to house prices since the Brexit [...]
First-time buyers are worried the interest rate cut kills their chances of saving for a deposit

August 16, 2016

One fifth of 18 to 34 year old prospective buyers say they will find it difficult to save for a deposit due to the recent cut in interest rates. Research from MoneySuperMarket found 21 per cent of this age group think the interest rate cut will mean they will have to wait for longer to [...]
FRP Advisory set to be appointed BHS liquidators – ousting Duff & Phelps

August 16, 2016

FRP Advisory are set to be appointed as liquidators of the BHS empire, City A.M. understands – ousting Duff & Phelps from the role. Duff & Phelps have recommended to creditors that BHS be moved into liquidation – and suggested they take on the job – but it has emerged they have been pushed out [...]
House listings mount after the Brexit vote

August 15, 2016

The number of homes on the market has increased since the EU referendum, but prices have fallen, according to analysis by Jefferies bank. In London, there has been an increase in home listings in 76 per cent of postcodes. However, asking prices have fallen in 70 per cent of postcodes since the Brexit vote. In [...]

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By: Helen Cahill

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