Rightmove: Demand surges 50 per cent after housing market reopens August 7, 2020 Property platform Rightmove said demand was up 50 per cent in June and July as potential buyers sought new homes after months spent in lockdown. Rightmove’s share price jumped 8.93 per cent to 629.4p this morning after the company reported a bounce in activity after the housing market reopened. The figures In the six months [...]
UK house prices jump in July in post-lockdown ‘mini-boom’ August 7, 2020 UK house prices jumped in July after coronavirus lockdown restrictions eased and the government announced a stamp duty holiday, sparking a “mini-boom” in the property market. UK house prices in July were 1.6 per cent higher than the previous month. House prices last month were also 3.8 per cent up compared to July 2019, according [...]
Hargreaves Lansdown adds record number of new clients August 7, 2020 Hargreaves Lansdown reported a jump in full-year profit after adding a record number of new clients. The figures The investment platform said profit before tax increased 24 per cent to £378.3m in the year ended 30 June. Revenue grew to £550.9m, jumping 15 per cent from £480.5m the previous year. Total assets under administration increased [...]
UK retail footfall continues slow recovery in July August 7, 2020 UK retail footfall continued to improve in July as shoppers tentatively returned to the high street following the coronavirus lockdown. Footfall was down 42 per cent in July, an improvement on the 62.6 per cent decline recorded in the previous month. High street footfall decreased 47.5 per cent, also up on the 64.5 per cent [...]
July retail sales dampen hopes of quick high street recovery August 7, 2020 Retail sales continued to fall in July despite the reopening of non-essential stores, dampening hopes of a quick bounce back on the high street. Like-for-like sales in bricks and mortar stores fell 39.4 per cent in July compared to growth of 0.1 per cent in the same month last year. Last month was also the [...]
Property industry reacts to planning system overhaul August 6, 2020 The government has launched a consultation on England’s planning system, as it seeks to slash red tape for new developments. In the planning White Paper, published this morning, the government said it wanted to cut the number of planning cases that are overturned at appeal by creating a “clearer, rules-based system”. Every area will have [...]
London hospitality firms call for free face masks at Tube stations August 6, 2020 London’s hospitality firms require urgent improvements to the “insufficient and inadequate” support provided for struggling businesses in the city centre, the leading industry body has said. In a letter to London mayor Sadiq Khan, UK Hospitality has set out a number of urgent measures that could encourage Londoners and domestic tourists to visit the centre [...]
Convenience store chain McColl’s swings to loss despite coronavirus spike in demand August 6, 2020 Convenience store chain McColl’s swung to a loss in the first half of the year despite a surge in demand during the coronavirus lockdown. The figures McColl’s reported a loss before tax of £1.3m in the 26 weeks ended 24 May, down from profit of £200,000 last year. McColl’s total revenue fell one per cent [...]
Pub chain JD Wetherspoon to cut up to 130 head office jobs August 6, 2020 Pub chain JD Wetherspoon will cut up to 130 head office jobs due to a downturn in the pub and restaurant industry during the coronavirus pandemic. The company announced this morning that 110 to 130 head office positions are at risk of redundancy. Wetherspoon blamed the cuts on a downturn in trading, a slowdown in [...]
Savills reports sharp drop in profit due to coronavirus crisis August 6, 2020 Estate agent Savills reported a sharp drop in profit in the first half of the year due to the impact of the coronavirus crisis on the UK housing market. The figures In the six months ended 30 June, group revenue fell seven per cent to £791.4m. Underlying group profit before tax plunged 66 per cent [...]
