Hargreaves Services profits lift as it weathers revenue dip after ditching coal December 8, 2021 Hargreaves Services has weathered a revenue dip after ditching its coal trading activities last year – which has been slightly offset by its profit before tax growth. The firm, which works across industrial and property sectors, said the jump in profit before tax has been secured by each of its three business divisions. The board [...]
London markets boosted by bullish Omicron outlook December 7, 2021 Investors continue to be bullish about the Omicron variant posing little threat to the global recovery from the pandemic, lifting London markets today. The capital’s premier FTSE 100 index shot up 1.13 per cent to 7,314.33 points during the first hour of trading. The mid-cap FTSE 250 index, which is more aligned to the health [...]
Growth of property values hits 15-year high: House prices rise for fifth straight month amid 8.2 per cent annual jump December 7, 2021 Average UK property price hits a new record high of £272,992 last month, rising in November by 8.2 per cent compared to the same month a year earlier, according to Halifx, publishing its monthly index this morning. Prices increased by 1 per cent month-on-month in November while quarterly house price inflation is now at its [...]
The City View: December 6: Inflation, Labour’s pro-business push and flooding risks December 6, 2021 Today Andy Silvester looks at a warning from a top Bank of England rate-setter, news from the digital ads market, Chinese property firm Evergrande’s latest struggles against its debt burden and more news on the new Covid variant. Andy is also joined by Sascha O’Sullivan and Elena Siniscalco, who offer their views on politics, Keir’s [...]
Prime central London price growth to surpass rest of UK as ‘US executives back in town’ December 6, 2021 Prime central London is forecast to surpass the rest of the country on price increases next year, as buyers look once more to Kensington and Chelsea. Property sales in lucrative parts of the city will rebound after being hit hard by the pandemic, as international buyers return, according to estate agent Winkworth. Winkworth chief executive [...]
Warnings housing market may ‘enter bubble territory’ if lending checks eased December 6, 2021 The Bank of England is readying itself to relax mortgage lending rules despite fears it will trigger a housing bubble, it has been reported. The Telegraph reported that policymakers are looking at relaxing affordability checks for borrowers. The rule changes are being mulled amid a review of market restrictions this will finish shortly. Officials are [...]
Exclusive: BDO’s managing partner on audit reforms, staffing issues and the company Christmas party December 3, 2021 This week accounting giant BDO saw its profits jump to over three quarters of a million pounds per partner, putting them ahead of their peers at rival firms EY and KPMG. At £760,000 per BDO partner, the firm leads the payout battle as EY partners were paid an average of £749,000 this year and KPMG [...]
First time buyers ‘still getting raw deal’ with £449k average price for London home December 2, 2021 First time buyers paid an average price of £449,000 for a London home, fresh statistics outlined today. Third quarter average prices were down from £478,000 in the second quarter as the market cooled off from pandemic highs, according to the Office for National Statistics. The average advance in the last quarter was £309,339 while the [...]
Red hot property market makes Brits the richest they have ever been December 2, 2021 A booming property market triggered by a tax holiday and Brits demanding larger homes has made the UK the richest it has ever been. Household wealth in Britain swelled 8.4 per cent over the last year to £11.2 trillion, the highest it has ever been since the Office for National Statistics (ONS) started tracking the [...]
Generation rent: Most Brits believe housing crisis will not be resolved in their lifetime December 2, 2021 Less than one in six UK adults believe the housing crisis will be resolved in their lifetime, with confidence in the Government equally low, while more than half of all Brits see the housing crisis as one of the country’s most pressing societal issues at present, according to new research that was exclusively shared with [...]