House price growth plummets to lowest level in a decade as confidence and costs see off buyers March 1, 2023 House price growth has plummeted to its lowest in more than a decade as a cocktail of high borrowing costs, inflation and low confidence has deterred buyers. Properties dropped in value by -1.1 per cent year on year in February, according to Nationwide’s House Price Index, down from 1.1 per cent the previous month. This [...]
Persimmon warns of housing market uncertainty despite £200m revenue hike March 1, 2023 Persimmon Homes reported a an increase in revenues during the full year ending December 2022, but admitted the UK housing market “remains uncertain”. The London-listed house-building company saw its revenues increase by £.3.8bn, from £3.6bn the previous year. Underlying operating profit jumped four per cent year on year to over £1bn, from £973m in 2021. [...]
Brits forced to cut £14,000 off house prices to achieve sale, new data reveals February 28, 2023 Brits are being forced to accept an average cut of £14,000 on the price of their homes to achieve a sale, according to new Zoopla HPI figures.
To dream up what can be done with the empty Debenhams, look at Hounslow February 28, 2023 Nine out of ten of the former Debenhams shops are still empty. Projects like The Loft in Hounslow show what could be achieved if these precious spaces were to be repurposed, writes Elena Siniscalco
The Notebook: Andy Silvester on the City’s ecosystem, a cricket charity and ‘no bullsh*t’ books February 28, 2023 As a child, I was fascinated by trains – not necessarily how diesel engines worked, but how the various moving parts of a train system worked together. Alas, the space limits of a terraced house in south London meant that my dream to build an entire train set across the top floor were thwarted. The [...]
Porsche salutes a 50-year-old icon with special 911 GT3 RS February 27, 2023 The new Tribute to Carrera RS Package for the 911 GT3 RS channels the style and spirit of Porsche's first roadgoing Rennsport model.
Total UK housing wealth breaches £7 trillion for first time amid ‘race for space’ February 27, 2023 Net UK housing wealth exceeded £7 trillion for the first time last year, according to calculations from an estate agent. The total value of UK homes reached £8.68 trillion at the end of 2022, Savills said. With outstanding mortgage debt standing at £1.66 trillion, according to Bank of England records, Savills calculated that net housing [...]
Isa explainer: should you go for cash or stocks & shares? February 23, 2023 Savers have just over four weeks to make the most of this year’s tax-free savings allowance. We look at the different types of ISA available and how to find the one that’s right for you. Individual Savings Accounts, or Isas, were introduced by the government to encourage more people to save and allow savers to [...]
We didn’t know it, but it was 2015 not 2008 that changed the housing market forever February 23, 2023 2015 was the year when the "demand and supply" argument in housing was won and lost. Supply won the argument, because in order to build more, we have to drive more affordability first, writes Giles Mackay
Oil prices to stay high this year on China reopening and OPEC output snags, experts predict February 19, 2023 Oil prices will be propped up this year by rebounding demand from China alongside tightening supplies into Europe and OPEC's capacity issues.