Bellway set for revenue bump despite Brexit jitters February 7, 2019 Bellway said this morning that it was expecting a rise is sales over the year ahead, despite echoing the cautious sentiment over Brexit from many of its peers within the property industry. Buoyed by demand for affordable homes and government schemes such as Help-to-Buy, Bellway said in a trading update this morning that it expected total [...]
Government faces test as Chinese buyers line up for major UK energy grid February 3, 2019 The government's approach to foreign investment could be tested this month as Chinese buyers line up for a major UK energy network. State-owned operators State Grid Corporation of China and China Southern Power Grid are looking at Electricity North West, which is expected to fetch £2bn at auction, the Sunday Times reported. It has also [...]
House prices drastically outpacing wage growth in UK cities as Oxford named least affordable place to live February 2, 2019 House prices in UK cities are outpacing wage growth by 11 per cent, meaning home affordability is at its lowest level since 2007, according to new data from Lloyds Bank. The report reveals that the average price of a house in a city in Britain has risen from £180,548 in 2013 to its highest ever level of £248,233 [...]
Proportion of home owners in UK rises slightly but average first-time buyer age remains high February 1, 2019 The number of people in England that own a home has increased slightly in the last financial year, according to the annual English Housing Survey. The report, published by the government, shows that 64 per cent of people owned a house in 2017-18, one per cent up on the data from the year before. However [...]
Oddbins falls into administration for the second time in eight years February 1, 2019 Oddbins today became one of the first high street casualties of 2019, as news emerged that the off licence’s owners have fallen into administration for the second time in eight years. Administrators Duff & Phelps confirmed that the companies behind Oddbins and a string of high street alcohol stores are now insolvent. Read more: Oddbins set [...]
Let it be: London councils should allow offices and shops to be converted into homes January 31, 2019 Amid all the Brexit brouhaha in Westminster it is important that parliamentarians do not forget the many other issues that affect people's day-to-day lives. Bravo, therefore, to MP Chris Philp for reminding Theresa May during yesterday's Prime Minister's Questions that the dream of homeownership remains all too elusive for many young adults – particularly in [...]
Should we be worried about the rise of the Bank of Mum and Dad mortgage? January 30, 2019 In the years leading up to the financial crisis, it was relatively easy for wannabe homeowners to get loans for the full value of a property – otherwise known as a 100 per cent loan-to-value mortgage. Of course, we know the problems caused by these mammoth loans, and since then, affordability criteria have become stricter [...]
Heineken completes £2.2m redevelopment of The Gun in Spitalfields January 30, 2019 Heineken has completed the £2.2m redevelopment of historic East End pub The Gun, the company said today. The Gun, which was first opened in 1929, has undergone a radical transformation since closing its doors four years ago. Read more: Fuller's calls time on brewing business as Asahi agrees £250m deal The makeover, carried out with the [...]
Oddbins owner appoints administrators with hundreds of jobs at risk January 28, 2019 The owner of wine retailer Oddbins is preparing to appoint administrators for the second time in less than a decade. European Food Brokers, which owns subsidiaries Wine Cellar Trading and Whittalls Wine Merchants, said it has filed a notice of intent to appoint Duff & Phelps as administrators to fix an insolvency, Sky News reported tonight. EFB, [...]
Lloyds unveils family mortgage offer to help millennials buy a home January 28, 2019 Llloyds Bank will allow first-time buyers to avoid saving for a deposit by allowing parent’s savings to be used in its place. The Lend a Hand mortgage, which is 100 per cent loan-to-value, launched today removes the need for a deposit which is instead provided using the savings of the buyer's family member who can [...]