PROPERTY NEWS November 18, 2010 RENTS ON THE RISE Rents rose for the ninth consecutive month in October to £691 while tenant arrears fell significantly for the second month in a row, according to the latest buy-to-let index from LSL Property Services. Unpaid rent totalled £221m, down from £229.3m in the previous month. This accounted for just 9.3 per cent [...]
Gloom hinders Barratt sales November 17, 2010 BUILDER Barratt Developments yesterday reported an autumn slowdown in reservations, as an uncertain economic environment and limited mortgage availability continued to weigh on consumer sentiment. Net reservations per active sales site stood at 0.45 compared with 0.55 a year ago as homebuyers took longer to commit to buying ahead of a government announcement on spending [...]
Barratt sees sales slow in tough market November 17, 2010 Barratt Developments has reported an autumn slowdown in house reservations as economic uncertainty continues to weigh on buyers. Net private reservations per active site stood at 0.45 compared with 0.55 in the period a year ago, as buyers took longer to commit. The company said last month’s spending review had drained some confidence from the [...]
Drinks offers give a boost to Luminar October 21, 2010 NIGHTCLUB operator Luminar said first half sales fell 21 per cent though recent trading had improved. Luminar, which runs the Oceana and Liquid nightclubs, said yesterday it made a pre-tax profit of £1.8m in the first half of the year, compared to a profit of £5.2m a year earlier. Sales were also down 16.9 per [...]
Barratt beats forecasts but warns of dip September 8, 2010 HOUSEBUILDER Barratt Developments said concerns about the economy and the lack of mortgage finance meant the market for new housing was still challenging as it reported better-than-expected full-year profits. “It’s early days in the autumn-selling season but so far private reservation rates are in line with expectations and prices are holding up,” chief executive Mark [...]
Barratt warns of tough times despite profit rise September 8, 2010 Housebuilder Barratt Developments said wider economic fears and the lack of mortgage finance meant the market for new housing was still challenging as it reported a jump in profits. House prices fell much faster than expected last month, according to a monthly survey from mortgage lender Nationwide, stoking concerns that the country could be headed [...]
Barratt hikes profit forecasts July 14, 2010 BARRATT Developments yesterday said its full-year profits would come in above expectations as it continues to focus on maximising selling prices while keeping a lid on costs. The UK’s third largest housebuilder has pencilled in an operating profit of at least £85m with margins rising to four per cent. The average selling price rose by [...]
Barratt on target for full year profit July 14, 2010 HOUSEBUILDER Barratt Developments said the group’s full-year profits will come in above expectations as it continues to focus on maximising selling prices while keeping a lid on costs. The UK’s third largest housebuilder has pencilled in an operating profit of at least £85m with margins rising to four per cent. The average selling price rose [...]
Depressed mining stocks are finally starting to look attractively valued July 12, 2010 IT WAS a tough second quarter for London-listed miners, which were dealt a severe blow by a toxic combination of general risk aversion, a planned tax on miners’ profits in Australia and a government-orchestrated slowdown in China. After reaching 25,356.51 on 6 April – its best level since July 2008 – the FTSE 350 mining [...]
CITY MOVES | WHO’S SWITCHING JOBS June 28, 2010 Norton Rose The law firm has made two new additions to its dispute resolution practice. Paul Morris joins as partner from Denton Wilde Sapte, where he was a partner and joint head of dispute resolution. He is an experienced contentious corporate trustee practitioner. Also joining the firm as partner is David McKie, who is moving [...]