House of Lords defeat government on plans for starter homes April 12, 2016 The government has suffered a setback after the House of Lords defeated it on two starter homes policies. A coalition of Labour, Liberal Democrat and crossbench peers voted to moderate the government's plans to offer "affordable" homes to first-time buyers at a discount. The flagship policy was proposed by the government ahead of the General Election [...]
This is where Brits spend the most money buying their first car (spoiler alert: it’s not London) April 11, 2016 Supercar season may be just getting under way in the city, but for all the golden Lambourghinis causing congestion in Knightsbrige, Londoners on average don't spend as much on their first cars as you'd think. Scotland is the real home of Britain's petrol heads, as new drivers north of the wall spend the most on their [...]
London house prices: More than 35,000 high-end homes planned in next decade – just as the prime property market starts to falter April 11, 2016 London's prime residential market is already suffering from the early signs of a slowdown but a flood of new properties is coming in the next decade that could exacerbate it further. A new report out today suggests there are 35,000 prime London homes due for construction in the next 10 years – a 40 per [...]
Verizon Communications lines up bid for Yahoo’s web business, with Google and others also considering moves April 7, 2016 Verizon Communications is said to be interested in bidding for Yahoo's web business. The share price of Yahoo initially shot up when news of the potential bid emerged, before closing down 1.3 per cent at $36.17. Verizon's shares closed down nearly 2.8 per cent at $51.99. Read more: Yahoo-h dear. Web portal expects 15 per cent revenue [...]
Another sign that stamp duty deadline sent buy-to-let investors into a buying frenzy April 7, 2016 More proof George Osborne's stamp duty wizard wheeze served to push up prices in the run-up to the deadline, after new figures showed UK house prices rose by the most in at least a year in March. Halifax's house price index, published this morning, showed prices rose 10.1 per cent in the year to March, [...]
Six reasons why London’s property market won’t collapse this year April 7, 2016 A recent report by UBS argued that London’s property market in London is exposed to the world's highest bubble risk and many would agree. But the reality is there are several good reasons why prices won't fall anytime soon. Here are just six. 1. Population growth London’s population grows faster than the UK national average and the supply of [...]
As the London Mayoral election looms, it’s time for Zac Goldsmith and Sadiq Khan to think big on housing April 7, 2016 With just under a month to go until London votes for a new Mayor, and less than a week until City A.M. hosts a packed-out hustings between the two main candidates, one familiar issue has raised its rather ugly head – the soaring cost of living in our capital. Some housing market analysts believe that government [...]
Tata will start a formal sales process by Monday for its UK business after Javid hails “constructive and positive meeting” in Mumbai April 6, 2016 Indian steel giant Tata will kick off the formal sales process of the its UK business on Monday its been announced by business secretary Sajid Javid following emergency talks in India. Javid hailed the meeting as "constructive and positive". He yesterday held meetings with steel unions and the only party that's publicly expressed interest in Tata's Port Talbot steelworks, Liberty [...]
Housing associations in £30bn mega-merger talks to build 100,000 London homes April 6, 2016 Three of the UK’s biggest housing associations are in talks to merger, with the view to build 100,000 new homes across London and the south east over the next decade. L&Q, The Hyde Group and East Thames said the proposed move will turn them into one of the country’s top four largest housebuilders with a [...]
London house prices: Why Foxtons’ chief executive Nic Budden’s salary is jumping 19 per cent April 6, 2016 It's clearly paying to be in the London property market right now. Foxtons' chief executive Nic Budden's basic salary is to jump 19 per cent for the current financial year, up to £550,000 from £461,000 last year. It's an interesting move for the London-focused estate agent, coming as demand for homes in the capital falls, although there has [...]