Middle East buyers to lift office gloom March 16, 2011 OFFICE investment in London fell markedly in the first three months of the year, though higher oil prices are expected to drive more sovereign wealth funds into real estate in the capital, according to Knight Frank research seen by City A.M. Office properties worth £1.6bn are due to change hands in the three months to [...]
Bovis doubles profit on land grab policy March 14, 2011 HOUSEBUILDER Bovis Homes yesterday said its 2010 profit more than doubled and that it had made an encouraging start to 2011. Bovis reported a pre-tax profit last year of £18.5m, compared with £7.5m the year before. The company had been expected to post a profit of £18.54m, according to a poll of analysts. Chief executive [...]
Mortgage lending falls in January March 11, 2011 UK mortgage lending fell 29 per cent in January from December’s level, new data has shown. Just 28,500 loans were extended to property buyers, a fall of 12 per cent on January 2010, a report from the Council of Mortgage Lenders found. The fall is being attributed to “an unusual combination of factors” including public [...]
Hammering away at the property auction myths March 10, 2011 WITH repossessions on the rise, property auctions are a topic on everybody’s lips. While you might not be interested in a flat in Ireland, the increasing supply of homes under the hammer has certainly sparked the British public’s interest in the market. Charles Lucas, an auction expert at Chesterton & Humberts, says there are more [...]
Old school glam, new designers March 7, 2011 THE doors close at the E Tautz men’s fashion show during London Fashion Week, and the hustle and bustle of outdoor crowds immediately fades. There’s no bank of spotlights in the Royal Opera House’s opulent room, only a small group of photographers, no standing crowd of students and hangers on, just a few fashion writers [...]
SELLING March 3, 2011 MANAGING DIRECTOR OF CENTRAL LONDON ESTATE AGENCY, KAY & CO Q.I am looking to upsize but want to make sure I’ve found something else to buy before I put my property on the market. What do you advise? A.At present the prime central London market lacks fluidity and it is very difficult to tie in [...]
Profits double at Persimmon as sales falter March 1, 2011 HOUSEBUILDER Persimmon warned yesterday that the weak mortgage market will continue to dampen sales this year, after almost doubling its pre-tax profit to £153.9m in 2010. While Persimmon sold 4.5 per cent more homes last year, the firm said completions tailed off towards the end of 2010 amid a tough mortgage market and economic fears. [...]
The entrepreneur who has found just the ticket February 24, 2011 IAM worried about the Olympics.” Joe Cohen, the founder and CEO of Seatwave, leans forward to explain. “They are capping the cost of all the tickets at face value, which is a stupid idea. It’s simple economics that whenever you have a situation where demand exceeds supply and you have a price cap, a black [...]
What the other papers say this morning February 20, 2011 FINANCIAL TIMES BUSINESS JET TRAVEL REBOUNDS AS RICH SPLASH OUT FOR PRIVACY Private jet travel, shunned in the recession as a sign of ostentation, is recovering in a further sign that the world’s richest people are spending more freely again. The number of business flights – which includes celebrity, state and business hire – grew [...]
Home comforts point to Indian World Cup glory February 17, 2011 JUST OVER a month ago and England were joint-favourites with some layers for the World Cup. They are now out to 17/2 with Victor Chandler and bookies will happily take your money. Lifting the World Twenty20, their maiden international trophy, last year and their rousing Ashes victory in the winter are fading memories after the [...]