Housebuilders pledge to end advance sales of homes overseas December 18, 2013 A TOTAL of 11 housing developers have signed a pledge to market their properties to UK buyers first, or at the same time, as marketing abroad. Concerns about properties being sold to foreign investors who then choose not to live in them have led to claims that many London streets are unoccupied while demand in [...]
Housebuilders take a knock as BoE ends Funding for Lending for mortgages November 28, 2013 Shares in the housebuilding sector have taken a tumble across the board this morning on the news that the Bank of England is ending its Funding for Lending scheme for mortgage providers. At pixel time, Barratt Homes has plummeted 9.6 per cent. Persimmon, the UK's largest home builder, is down over six per cent. Taylor [...]
Redrow and McCarthy & Stone lifted by housing market jump November 12, 2013 REDROW boss Steve Morgan yesterday hit out at the country’s planning system and said the effort in obtaining detailed consent was holding it back from building more homes. The housebuilder posted a 52 per cent jump in private reservations to 1,400 homes in the first 19 weeks of its financial year since the beginning of [...]
Help to Buy “already delivering” says David Cameron as second phase sees over 2,000 applications November 11, 2013 Help to Buy is gathering momentum. This morning both RBS and Halifax reported strong uptake of its second phase, which was launched a month ago. 2,384 applications have been put in, totalling £365m of new mortgage lending. On average, households have asked to borrow around £155,000 for houses worth about £163,000. The UK average house [...]
Our guide to the best investments November 7, 2013 London property prices are sky-rocketing, so what better time to invest with the rest? RIGHT now, investing in a London home looks like a pretty smart move. Asking prices saw a 10 per cent increase last month and, with low-deposit schemes like the government’s Help to Buy initiative, more people are looking to invest in [...]
Best of the Brokers for 30 October 2013 October 29, 2013 REDROW Panmure Gordon has upgraded homebuilder Redrow to buy with a target price of 294p following a meeting with the company. “The progress that this company has made in recent years under the current management team is remarkable,” said the analysts. COCA-COLA HELLENIC Greek fizzy drinks giant Coca-Cola Hellenic, now listed in London, has been [...]
Best of the Brokers for 29 October 2013 October 28, 2013 SAGE GROUP Jefferies has upgraded the business software specialist to buy from hold and upped its target price to 380p from 320p. The broker believes the company is undervalued and that the market is focusing too much on the lack of momentum regarding the cloud. WHITBREAD Bank of America Merrill Lynch has raised its target [...]
City Moves for 14 October 2013 | Who’s switching jobs October 13, 2013 MichelmoresThe law firm has announced the appointment of Roger Fink as a partner in its London office. He qualified with Slaughter and May, and has been a partner at Pinsent Masons for over 20 years. Fink specialises in corporate law. 7 Bedford RowThe common law set has made two appointments. Catherine Rayner and Andrea Chute [...]
Redrow to revamp Peel Centre October 9, 2013 Housebuilder Redrow has been picked by the government as preferred bidder to regenerate the police training centre near Brent Cross, as part of a deal to build more than 1,600 homes on the site. The Mayor’s Office for Policing And Crime said yesterday it will replace the tired Peel Centre with a new “world-class” police [...]
Best of the Brokers for 23 September 2013 September 22, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com COMPASS Panmure Gordon has maintained its “hold” stance and target price of 820p on the food group ahead of its fourth quarter trading update on Thursday, saying that limited M&A activity over the course of the yearmeans there is potential to return some [...]