Barratt boss confirms over 200 buildings fall under cladding safety review February 9, 2022 The boss of housebuilder Barratt has confirmed that more than 200 legacy properties fall within its safety review in a bid to fix the UK’s cladding crisis. Chief executive David Thomas said the company was in talks with government around its plans to get housebuilders to fork out the cash to undergo safety works on [...]
Housebuilders drag London markets down as investors flee stocks January 24, 2022 London markets took a beating yesterday driven lower by most sectors tumbling as investors fled stock markets on US Fed rate hike fears. The capital’s premier FTSE 100 index closed 2.63 per cent lower at 7,297.15 points, while the domestically-focused FTSE 250, which is more aligned to the health of the UK economy, lost 3.64 [...]
Cladding suppliers shares tumble after Gove threat on remediation costs January 24, 2022 Building material manufacturers and property developers’ shares plummet on Monday morning as the government toughens up on firms unwilling to pay to fix unsafe homes. Housing secretary Michael Gove threatened a UK trading ban on manufacturers of combustible cladding and insulation in a letter to the Construction Products Association. In the letter, Gove said more [...]
Grenfell: Gove tells dodgy developers ‘we are coming for you’ as they’re forced to foot the bill for cladding crisis January 10, 2022 Michael Gove has sent a stark warning to property developers that have profited from installing dangerous cladding, like that was used in the Grenfell tower, telling them that “we are coming for you” as he unveils his plan to make them pay for cladding refurbishments across the UK. Gove told MPs today that the burden [...]
Housebuilders’ share prices plunge as government cracks down on cladding crisis January 10, 2022 Homebuilders’ share prices tumbled on Monday as the government said it was prepared to force developers to pay for the removal of dangerous cladding. Housing minister Michael Gove has handed builders a March deadline to agree a plan to protect leaseholders who cannot sell their homes due to their fire defects. Leaseholders have called on [...]
London markets dip as investors pour out of housebuilders January 10, 2022 London markets dipped today driven by investors pouring out of housebuilders after the UK government signalled it will clamp down on them shunning fixing Britain’s cladding crisis. The capital’s premier FTSE 100 index closed 0.53 per cent lower at 7,445.25 points, while the mid-cap FTSE 250 index, which is more aligned to the health of [...]
FTSE 100 edges lower as investors dump housebuilders December 30, 2021 London’s premier index edged lower today driven down by investors selling off real estate stocks despite fresh data released today showing UK house prices are rising at the fastest pace since before the financial crisis. The capital’s premier FTSE 100 index closed 0.24 per cent lower at 7,403.01 per cent, while the mid-cap FTSE 250 [...]
Action by competition watchdog frees leaseholders from costly contract terms December 22, 2021 Leaseholders of housebuilder Taylor Wimpey will no longer be subjected to ground rents that double every ten years after action by competition watchdog.
London markets climb again as investors brush off Omicron fears December 8, 2021 London markets climbed again this morning as investors continue to brush fears over the Omicron variant. The capital’s premier FTSE 100 index added 0.37 per cent to reach 7,366.76 points, while the mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.51 per cent to 23,356.58 points. This [...]
London markets boosted by bullish Omicron outlook December 7, 2021 Investors continue to be bullish about the Omicron variant posing little threat to the global recovery from the pandemic, lifting London markets today. The capital’s premier FTSE 100 index shot up 1.13 per cent to 7,314.33 points during the first hour of trading. The mid-cap FTSE 250 index, which is more aligned to the health [...]