Shared Ownership: achievable, affordable and for everyone September 4, 2024 Kevin Sims, Director of SO Resi, says: Shared Ownership: achievable, affordable and for everyone Culturally, we have a strong affinity for homeownership. Purchasing a home is seen as a natural ‘life milestone’ akin to marriage or starting a family. Worryingly, shocks to the property market and the economy in recent years have made it harder [...]
UK property equity surges to new record as house prices recover with falling rates September 4, 2024 The value of the UK’s property equity is higher than ever before having surged to almost £6 trillion, new research has revealed. The study by the Equity Release Council calculated that recovering house prices helped to increase the figure to an “unprecedented” £5.7 trillion in the three months ending June 30, 2024. This was up [...]
Barratt: Profit halves at housebuilder but firm optimistic after Redrow deal September 4, 2024 Housebuilder Barratt reported a halving in profit and drop in completions amid a challenging housing market, but has said it is optimistic about the future. Barratt said its total home completions in the year ended 30 June reached 14,004, down 18.6 per cent from 17,206 in 2023 but at the upper end of the company’s [...]
How Rightmove became London’s (and the FTSE 100’s) most profitable company September 3, 2024 From an unknown tech start-up to the undisputed king of the UK’s online property sector, Rightmove is a shining example of how to turn a simple idea into a whole lot of profit. In its most recent full-year results, the London-listed property portal astounded investors by revealing it had achieved a record 71 per cent operating profit margin – [...]
Rightmove shares jump by a quarter as News Corp-owned REA eyes £4.4bn swoop September 2, 2024 Australian property giant REA Group, backed by Rupert Murdoch's News Corp, is considering a £4.4bn takeover bid for UK competitor Rightmove.
Completions to fall at Barratt amid flurry of updates from housebuilders September 1, 2024 Barratt Developments is expected to report a fall in home completions, but profits just ahead of previous expectations, amid a week of financial updates from UK housebuilders. The company, which is Britain’s biggest housebuilder, reports its annual results on Wednesday September 4, with updates from Vistry and Berkeley Group in the following days. Barratt said in July [...]
Mortgage borrowing hits highest level in nearly two years August 30, 2024 The amount of mortgage debt Brits took on in July reached its highest level since November 2022 in another sign that consumer confidence is returning. Brits borrowed £2.8bn of mortgage debt in July, the highest since £.2bn in November 2022 and up from £2.6bn in June, according to the latest Money and Credit data from [...]
House prices dip unexpectedly as interest rates continue to dampen demand August 30, 2024 House prices dipped unexpectedly for the first time since April this month, but a closely watched survey today suggests that the outlook for the property market is likely to strengthen as interest rates are reined in. In its closely watched house price index today, mortgage lender Nationwide said British house prices slipped by 0.2 per [...]
Price of the average London home on the rise as UK demand rockets August 28, 2024 The ‘average’ London home will now set you back more than £530,000 after house prices in the capital increased for the first time since April 2023, according to figures released today. Data from Zoopla’s latest house price index revealed that London property prices were up 0.2 per cent year on year in the first seven [...]
Consumer confidence unchanged in August despite worsening outlook August 23, 2024 Consumer confidence remained unchanged in August, a closely watched survey suggested, despite a deterioration in households’ expectations for the broader economy. GfK’s overall consumer confidence index remained at -13 with an improving picture on the personal finance side helping to offset worsening confidence in the economy as a whole. This meant overall consumer confidence remained [...]