UK property developers hit with new taxes to pay for unsafe cladding removal post-Grenfell February 10, 2021 Shares in major UK property developers have fallen this afternoon, after an announcement that they will be hit with new taxes to pay for the government’s unsafe cladding removal scheme. Housing secretary Robert Jenrick today announced two new taxes on UK property developers to help pay for the government’s efforts to remove unsafe cladding from [...]
Barratt reports record new housing completions but profit hit by cladding costs February 4, 2021 UK housebuilder Barratt Developments announced it will resume dividend payments after posting record completions, but warned it will take a £56m hit on legacy properties, including issues related to cladding. The firm said it will pay an interim dividend of 7.5p per share on 10 May following a “rapid and robust recovery and a further [...]
Barratt Developments to resume paying dividends next month January 8, 2021 Barratt Developments announced this morning that it intends to resume shareholder payouts next month as it reported a surge in new home sales due to pent-up demand following the first nationwide Covid-19 lockdown. The FTSE 100 housebuilder said it had delivered an “excellent first half performance” but warned that sales rates had become more subdued [...]
Planning permission granted for 454 new homes in Wembley November 27, 2020 Brent Council has given the green light on building 454 new homes, including 40 per cent affordable housing, next to Wembley Park underground station. The scheme covers a 1.6-acre site, and will be delivered across five buildings. The new homes will be a mixture of studios, one, two and three-bedroom apartments. The affordable homes will [...]
Barratt reports strong forward sales as housing market recovers October 14, 2020 Barratt Developments (BDEV) has reported an increase in forward sales as the housing market bounced back from the first wave of coronavirus restrictions. The housebuilder said total forward sales as of 11 October increased 16.7 per cent to 15,135 homes at a value of £3.7bn. It also reported a 20.8 per cent increase in its [...]
FTSE 100 flat after Donald Trump ends US stimulus talks October 7, 2020 The FTSE 100 flatlined after US President Donald Trump abruptly ended talks between Republicans and Democrats over the next round of fiscal stimulus. London’s blue-chip index was just 0.06 per cent higher at 5,953.6 points as it approached midday. The FTSE 250 was up 0.17 per cent. Read more: US stocks fall after President Trump [...]
FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]
FTSE 100 rises but Wall Street falls again on job data September 4, 2020 The FTSE 100 reversed yesterday’s losses, closing in on the 5,900 point level this morning despite last night’s ferocious sell-off of US tech stocks dragging markets down overnight. By the early afternoon London’s premier index was 0.7 per cent up at 5,888.96. The FTSE 250 index of mid caps also rose 0.2 per cent. However, [...]
Watchdog opens probe into major homebuilders over leasehold practices September 4, 2020 The Competition and Markets Authority (CMA) today said it was opening enforcement cases against four of the UK’s biggest housebuilders over suspicions they may have broken consumer protection law in relation to leasehold homes. The CMA today said it was opening enforcement actions focusing on the practices of Barratt Developments, Countryside Properties, Persimmon Homes and [...]
FTSE 100 jumps as homebuilders cheer surge in UK house prices September 2, 2020 The FTSE 100 jumped as investors welcomed signs of an economic recovery, with homebuilders riding high after UK house prices hit a record level despite the coronavirus pandemic. The UK’s main stock index climbed 1.1 per cent to 5,929 points, having shed almost two per cent yesterday. The FTSE 250 index of smaller firms rose [...]