Prospective buyers hit with fresh blow as mortgage approvals continue to fall June 1, 2023 Prospective buyers continue to suffer setbacks as fresh data reveals that mortgage approvals fell during April. Net mortgage approvals for house purchases fell from 51,500 in March to 48,700 in April, figures from the Bank of England show, with experts predicting that the figure could fall further following the central bank’s decision to hike interest [...]
FTSE reshuffle: British Land booted off premier index while Ocado dodges demotion June 1, 2023 Online grocer Ocado has dodged relegation from London’s FTSE 100 while property firm British Land lost its coveted spot among the blue-chip stocks. Fashion retailer Asos also faced demotion from the FTSE 250 ranks, according to the annual review by data firm FTSE Russell. Ocado was expected to drop off the UK’s top index after [...]
Interest rate hikes triggers house price fall and analysts think there’s further to go June 1, 2023 House prices remain below their August peak as demand softens following a spike in interest in early spring. The annual rate of house price growth slipped back to -3.4 per cent from -2.7 per cent in April, figures from Nationwide show, as the Bank of England’s decision to hike interest rates rattled buyers confidence. In [...]
The Notebook: Neil Bennett on Dubai’s past, present and future June 1, 2023 The Notebook is where interesting people say interesting things. Today, it’s Neil Bennett, global co-ceo of H/Advisors, a comms and advisory firm… Going green in the town that oil built I’m in Dubai for the launch of our new H/Advisors’ office here. We are focusing on sustainability communications as the city and the whole of [...]
The UK must fight a pattern of degrowth in this new, regional commercial order June 1, 2023 A new regionalised commercial order is emerging, and to stay afloat the UK state must change the way it plays on the world stage, choosing decentralisation and greater strategic clarity, writes Jeffrey Roberts
Politicians don’t understand housing and asylum seekers will pay the price May 31, 2023 The government wants to temporarily scrap HMO licensing for asylum seekers' accommodation. It risks creating a set of dangerous sub-standard homes unfit for the future, writes Elena Siniscalco
Global travel and weak pound fuels London prime property recovery amid fears of Labour stamp duty plans May 30, 2023 The return to global travel and the weak pound helped the fuel recovery of London’s prime property market in the first third of 2023. Data by estate agents Knight Frank, shows that sales on luxury pads above the five million pound price point are up 40 per cent compared to the same period last year [...]
Property fintech LendInvest sells £243m buy-to-let mortgage portfolio following financing deals May 30, 2023 London-listed property fintech LendInvest confirmed the sale of a £243m buy-to-let mortgage portfolio to digital bank Chetwood Financial. The portfolio includes mortgages originated between 1 March 2022 and 30 November 2022 during which time interest rate hikes reduced the profitability of the mortgages. LendInvest will take a £10.5m loss on the sale which will be [...]
House prices continue to fall as buy-to-let landlords sell up May 30, 2023 House prices are continuing to fall, according to a closely watched index, but transactions are ahead of the long-term average due to landlords selling up. According to estate agent Zoopla, landlord properties accounted for 11 per cent of sales in the last month, as high mortgage rates and energy bills forced many property owners to [...]
FTSE 100 close: London index extends losses as pound slides and bond yields soar May 25, 2023 London’s FTSE 100 continued yesterday’s wobble today driven by investors fretting over how high the Bank of England will have to send interest rates to tame sticky inflation. The capital’s premier index slipped 0.74 per cent to 7,570.88 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]