Focus on London Fields: The attractive Hackney suburb buyers don’t want to leave August 2, 2019 Homeowners who bet on London Fields 20 years ago are some of the canniest in the capital. Then, homes in the leafy-for-Hackney neighbourhood were worth 17 per cent more than the London average, according to Hamptons International – but today that has jumped to a huge 52 per cent, translating to £240,000. “Once an unloved [...]
Government urged to act to secure ‘home ownership dream’ July 31, 2019 The government has been urged to act to help first-time buyers as new forecasts revealed that by 2026 just a quarter of people aged between 25 and 34 will own their own home. A report by Santander found that home ownership within that age bracket will have dropped from 55 per cent 20 years ago, [...]
UK mortgage approvals rise but consumer lending slows July 29, 2019 Britain’s housing market received a modest lift in June as mortgage approvals increased by more than analysts had expected, Bank of England figures showed today. Read more: UK mortgage approvals hit two-year high following Brexit extension Annual lending growth to UK consumers slowed from 5.7 per cent in May to 5.5 per cent in June, [...]
Tradeweb’s CEO on tech, China, and modernising bond markets July 24, 2019 While researching Lee Olesky, the co-founder and chief executive of the fixed-income market platform Tradeweb, I came across an article comparing him to Amazon’s founder Jeff Bezos. Both started their companies in the nineties. Both set out to use the internet and ecommerce to disrupt their respective industries at a time when the idea of [...]
UK house sales plummet in June, held back by Brexit ‘ball and chain’ July 23, 2019 House sales crashed 16.5 per cent in June, as the property market took a “wait-and-see” attitude to transactions amid Brexit uncertainty. Monthly HM Revenue and Customs (HMRC) figures showed British residential property sales fell to 84,490, more than one-sixth down on the same period last year. Read more: London house prices suffer worst plunge in [...]
British Gas owner Centrica ‘to cut dividend and sell off oil and gas business’ July 21, 2019 Centrica is said to be planning to cut its dividend and start looking for a buyer for its oil and gas business. The British Gas owner is reportedly planning to cut its payout in a bid to keep its credit rating. It would join the likes of Vodafone, Marks & Spencer and BT in doing [...]
Homebase closes in on Bathstore takeover July 19, 2019 Homebase is set to buy struggling retailer Bathstore after the UK’s largest bathroom specialist fell into administration three weeks ago. Administrators BDO have since been looking for a buyer to save the flagging chain, and now Homebase are close to agreeing a deal, according to The Telegraph. Read more: Homebase named UK’s worst retail website [...]
Focus on St John’s Wood: Super-prime rentals are hot property in this US enclave July 19, 2019 With its secluded streets, proximity to the West End and legendary status in the worlds of both sport and music as the home of Lord’s and Abbey Road, St John’s Wood has long been a desirable address. PG Wodehouse made it the home of Bertie Wooster’s best pal, aristocrat Bingo Little, in his Jeeves series; [...]
London house prices suffer worst plunge in 10 years July 17, 2019 London house prices suffered a staggering 4.4 per cent annual drop in May, their worst annual drop since the financial crisis, public data revealed today. While UK house prices rose 1.2 per cent compared to May 2018, London house prices sank, the Office for National Statistics (ONS) revealed. Read more: UK house prices slip for [...]
UK house prices slip for first time this year as Rightmove hails buyers’ market July 15, 2019 UK house prices have slipped this month for the first time this year, signalling a buyers’ market in the second half of 2019. Prices have fallen by 0.2 per cent, or £656, on average, according to Rightmove’s House Price Index, published today. Read more: House prices surge in June Fewer properties are coming to market [...]