Wall St slammed by recession fears August 18, 2011 RISING fears of another recession hammered US stocks yesterday, sending major averages sharply lower in a return to the extreme fluctuations investors endured a week ago. New worries about the health of European banks set the tone before the market’s open, and a dismal report on regional US manufacturing fueled a downward spiral in which [...]
London trends: who’s moving the prime market higher? August 18, 2011 THE headlines are clear: core prime central London property – that is central London property at the very top of the market in places like Knightsbridge, Chelsea and Belgravia – is rocketing in value, keeping pace with gold as an asset class. Supply of these properties is now chronically low, adding even more upward price [...]
United plans $1bn float in Singapore August 16, 2011 MANCHESTER United is preparing to launch an audacious Singapore float in which it could raise more than £600m. The club’s controversial American owners hope the IPO could value their prized asset at more than £2bn, taking advantage of the huge popularity of the Manchester United brand in the east. It is understood between 20 and [...]
CITY MOVES | WHO’S SWITCHING JOBS August 14, 2011 LSL Martyn Alderton has been appointed as managing director for asset management in the property services firm’s Corporate Client Department (CCD). He replaces David Brown, formerly managing director of LSL CCD and commercial director of LSL Property Services, who will retain his commercial director position. Alderton was previously operations director at the company. PwC The [...]
BUYING August 11, 2011 MANAGING PARTNER AT BLACK BRICK Q.What effect will the recent fluctuations in the financial markets have on London property? A. Though significant, the movements in the financial markets haven’t caused the same panic or uncertainty that pervaded in the last financial crisis. The resilience that London property prices have shown since the last crisis has [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 4, 2011 FINANCIAL TIMES E-PETITIONS SITE CRASHES ON LAUNCH A new e-petitions website allowing members of the public to put forward motions for debate by MPs has crashed under the weight of 1,000 visitors a minute trying to register proposals on issues such as the return of capital punishment and leaving the European Union. ICBC TO BUY [...]
ACTON, W3 August 4, 2011 BROMYARD AVENUE Price: £275,000 This one-bedroom, one-bathroom flat has a communal garden, parking and a private-gated entrance with a 24 hour concierge. Westfield Shopping Centre, Acton Green Common and the River Thames are all close by. Contact: Knight Frank on 020 7861 5336. or go to www.knightfrank.com. SOUTHFIELD ROAD Price: £575,000 This three-bedroom house has [...]
A bargain estate in bucolic Ireland August 4, 2011 TO say the Irish property market has had a bit of a rocky patch is like saying Brian O’Driscoll’s relatively tasty when it comes to scoring tries. As the Irish economy came apart in the recession, the property market fell, and fell, and fell. Then it fell a bit more. Now, those prepared to make [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 2, 2011 FINANCIAL TIMES LIVING SOCIAL SET TO BUY TICKET MONSTER LivingSocial, the world’s second biggest group discount website by customers after Groupon, has agreed to buy Ticket Monster, a South Korean equivalent site, to strengthen its presence in Asia. It is the latest acquisition by the US company, which has this year announced three deals to [...]
Europe’s rich flood London’s house market August 1, 2011 THE price of luxury homes in central London has jumped by almost 10 per cent in the past year, driven by demand from wealthy Europeans looking to invest outside of the troubled Eurozone economies. Prime London property prices have risen 9.6 per cent since July 2010, and are more than 28 per cent higher than [...]