Construction supplier Travis Perkins says demand weakened after the Brexit vote – and says housing transactions are “unlikely to be positive” after the Brexit vote August 2, 2016 Builder's merchant Travis Perkins share price was hit this morning after the company said sales growth in July was knocked by the Brexit vote. The construction materials supplier's share price fell by 2.72 per cent in morning trading, despite announcing in its interims that like-for-like sales were up by 3.1 per cent in the six months to the end [...]
Home ownership has fallen to its lowest in 30 years across all major English cities – not just London August 2, 2016 Home ownership has fallen to levels last seen in the UK in 1986, a major new report has revealed – and it's not just in the capital where it's hitting hardest. The report, by think tank the Resolution Foundation, showed the proportion of Britons owning their own home has fallen eight percentage points since it peaked at [...]
The billion-dollar Tesla SolarCity merger is (El)on August 1, 2016 Green energy firm SolarCity has accepted a $2.6bn all-stock takeover deal from Elon Musk's Tesla. Both companies' stocks dipped on the news, with SolarCity's closing down 7.4 per cent to $24.72, while Tesla's share closed down two per cent at $230.01. SolarCity's stock also took a five per cent dive this morning after it snuck out a downgrade in its full-year [...]
New homes on sale in London: from apartments on London City Island to family homes in Edgware August 1, 2016 London City Island From £405,000 A summer party heralded the sale of 100 new homes on the enormous London City Island complex on Saturday. Developer EcoWorld Ballymore offered champagne ice pops, a BBQ and a DJ to entice prospective buyers to look at the studio to four bedroom apartments on the Leamouth Peninsula. There will be [...]
First-time buyers are now expecting help from more than just their parents August 1, 2016 Many first-time home buyers are now skipping a generation in order to fund their purchases and could be “putting the family silver at risk”. Grandparents are to help fund one in six purchases of a first home, data compiled by Simpson Millar solicitors suggests. The concern from solicitors is that with a third of couples not [...]
Yes, Selfridges has just opened its Christmas shop and this is what it looks like August 1, 2016 Is that a little bit of Scrooge spirit we sense spreading across the capital? That would be because Selfridges became the world's first department store to open its Christmas shop. Bah, humbug. The retailer has put 50,000 decorations on display, with plans to expand the store later this year to accommodate another 70,000 decorations. When the [...]
Nearly half of young people to use lifetime Isa to save for retirement August 1, 2016 Nearly half of younger Britons will use a the lifetime Isa to save for retirement instead of taking out a pension plan a survey outlined today. A YouGov poll said that 44 per cent of Britons between the age of 18 and 39 would favour using the government’s new lifetime Isa in order to put [...]
Westfield shopping centre in Stratford expects more visitors in 2016 than it received in the year of the Olympics July 29, 2016 Westfield's Stratford shopping centre is expecting higher footfall than it had in the year of the Olympics, thanks to regeneration in Stratford. John Burton, Westfield's head of development, said there had been a plan to have 4,000-5,000 new homes built in Stratford – but now, 10,000 new homes are expected in the Stratford City site. Read more: Westfield to create [...]
Mapped: First-time buyer house prices in every London borough July 29, 2016 Thinking of buying your first home? Thinking of helping your children buy their first home? Here's what you're up against in London. Estate agent eMoov.co.uk has released the average house price for first-time buyers in every London borough – and it's not very encouraging. Read more: Everything you need to know about the UK's housing market after [...]
Rightmove’s shares just jumped after it reported impressive mobile traffic July 27, 2016 Don't write off the UK's property market quite yet: shares in Rightmove jumped this morning, after it reported a surge in mobile traffic. The figures The property portal said this morning that revenues had jumped 16 per cent to £107.9m in the six months to the end of June, while pre-tax profits rose to £80.6m, from £66.6m last year. It signed [...]