Number of UK house sales jumped by a third after rates cut, before Budget October 21, 2024 Despite uncertainty about the coming Autumn budget, buyers continued to pile into the property market after the Bank of England cut interest rates, with the number of homes sold up by a third year on year. The number of sales agreed rose by 29 per cent, while the number of potential buyers contacting estate agents [...]
Lendinvest taps Barclays, HSBC and BNP for £300m financing October 21, 2024 Lendinvest has renewed a £300m financing deal with Barclays, HSBC and France’s BNP Paribas as the property fintech looks to return to profitability. The AIM-listed firm said the revolving warehouse financing agreement, shared equally between the three banks, had been extended for an additional three years on what it called improved terms. LendInvest said the [...]
Abbey Road Studios is looking for the next Spotify October 21, 2024 When The Beatles recorded 190 of their 210 songs at Abbey Road Studios in west London, they pushed the boundaries of the primitive equipment at the time They experimented using tape machines in ways they weren’t designed for, pulling all-nighters to create the iconic distorted sounds of tracks like “Revolution”. It was a revolution not just [...]
London prime property prices steady despite Budget and non-dom uncertainty October 18, 2024 Property prices in London’s prime residential market have shown resilience despite buyer jitters ahead of the much-discussed Autumn Budget. While speculation on what taxes Reeves might increase has reached fever pitch – and those taxes are likely to affect the property market – prices picked up in the third quarter. There was a 1.8 per [...]
Landlords urge Reeves to offer Budget tax breaks amid ‘market uncertainty’ October 17, 2024 Private landlords groups have written to Rachel Reeves to urge the government to offer tax breaks amid “market uncertainty” ahead of the Budget. In a letter to the Chancellor prior to the 30 October fiscal statement, representative bodies including the National Residential Landlords Association (NRLA) said their members face “uncertainty on a number of fronts” [...]
‘Broken’ inheritance tax ripe for reform at Budget, think tank says October 17, 2024 The government must reform the UK’s “broken inheritance tax system”, a respected think tank has urged, after fresh research found uncapped exemptions in the current framework means a quarter of estates worth over £10m pay a rate of just nine per cent. The Centre for Analysis of Taxation (CenTax) paper, published on Thursday, revealed the [...]
UK house prices surge as cooling inflation gives rise to lower borrowing costs October 16, 2024 House prices in the UK rose by 2.8 per cent against the backdrop of the lowest inflation for three years and prospect of interest rates coming down further. The UK average according to the Office for National Statistics sat at £293,000 in the year to August 2024, though London prices are typically higher. This marked [...]
GP landlord PHP brings in £2.7m of new rent October 16, 2024 Primary Health Properties (PHP) added £2.4m in rent over the last nine month, increasing its rental revenue by three per cent on an annualised basis. The GP landlord, which published its trading update ahead of a capital markets day today, had stronger growth in indexed leases in the UK and Ireland (4.5 per cent growth), [...]
It is 14 days until FII8: The catalyst for global economic transformation October 15, 2024 Inside Saudi provides readers in the City and beyond with insights from Saudi Arabia, one of the fast growing markets in the world. Each week we’ll bring you exclusive interviews, news you can use and spotlight the companies making things happen in the Kingdom of Saudi Arabia. The countdown has begun for the eighth edition [...]
Donald Trump’s golf course in Scotland makes 11th consecutive loss October 15, 2024 Donald Trump’s golf course in Aberdeenshire has maintained its positive outlook despite making a loss for an 11th consecutive year. Trump International Scotland has reported a pre-tax loss of £1.4m for 2023, having also lost £738,344 in the prior 12 months. The widening loss comes despite its turnover rising from £3.59m to £37.4m over the [...]