London office take-up falls but tech firm demand soars February 1, 2012 TAKE-UP of central London offices fell by 27 per cent in 2011 compared to the previous year, as the global economic slowdown continued to take its toll, according to research by Knight Frank. The property consultancy said take-up fell to 10.7m square feet last year. However, this coincided with a fall in supply and doubling [...]
Bingo! Rank plays Gala card January 30, 2012 RANK Group yesterday confirmed it is “in discussions” with Gala Coral Group about a potential £250m acquisition of Gala’s casinos business. The terms of any acquisition have not yet been finalised, stated Rank, and there is no certainty that any transaction will occur. A spokesperson for Rank declined to confirm when talks between the parties [...]
Moving costs hit a quarter of average income January 26, 2012 ESTATE agents’ fees, mortgage charges and stamp duty have all contributed to a massive jump in the cost of moving house, according to research out today from Lloyds TSB. Since 2001 the average cost of moving has risen by 69 per cent from £5,290 to £8,922, for someone who already owns a home. Agency fees [...]
WHAT THE OTHER PAPERS SAY THIS MORNING January 22, 2012 FINANCIAL TIMES EU PLANS RAISE HOME FORECLOSURE RISK UK homeowners could face higher mortgage costs and find themselves at greater risk of foreclosure as early as next year because of an obscure clause in the bank capital directive being worked on by the European parliament. US FUNDS RETURN TO EUROPEAN BANK PAPER US money market [...]
Peacocks still searching for white knight January 22, 2012 PRIVATE EQUITY firms and buy-out groups are poised to make a bid for Peacocks, the discount clothing chain, which collapsed into administration last week. Its administrators KPMG will open the data room to Peacocks today, which will allow potential bidders to browse financial and other relevant data on the firm. KMPG expects to receive the [...]
From Kensington to Farringdon: why London’s prices are buoyant January 19, 2012 WHY ARE PROPERTY VALUES IN CENTRAL LONDON RISING FASTER THAN REST OF THE UK? Prices in Prime Central London are indeed out-performing the rest of the country. Over the last 12 months, average house prices across the UK have remained broadly stable, meanwhile in Prime Central London (PCL), prices rose by 12.1 per cent in [...]
House prices drop for eighth month running January 17, 2012 HOUSE prices in the UK declined again in November, the Department for Communities and Local Government (DCLG) revealed yesterday. The index fell 0.3 per cent on an annual basis in November, slower than the 0.4 per cent decrease seen in October and representing the eighth consecutive monthly fall. Meanwhile the typical sum paid for homes [...]
House loans grow despite grim economy January 16, 2012 THE HOUSING market showed signs of life in November with sales and remortgages both rising, data from the Council of Mortgage Lenders (CML) revealed yesterday. Growth is expected to continue in the months before March, after which first-time buyers will no longer benefit from stamp duty exemption. Overall lending for house purchase rose four per [...]
Bovis forecasts growth in 2012 January 16, 2012 British housebuilder Bovis Homes said it expected to achieve a significant increase in profit in 2012, benefiting from forward bookings rising by more than a third, following strong earnings growth in 2011. The company said it expects to report overall completions up 8 percent to 2,045 homes in 2011, with private legal completions up 18 [...]
Homes more affordable as supply slumps January 15, 2012 HOMES are at their most affordable level for 14 years, according to data released today by Halifax, while figures from Rightmove suggest very low housing supply will prevent the market falling further. First-time buyers spent 27 per cent of their disposable income on their mortgage, down from the 37 per cent average seen over the [...]