London house prices could rise by a further £21,000 this year May 8, 2021 The house price boom caused by the introduction of the stamp duty holiday could see the average house price across England climb by another £23,000 before the end of the year, should current market trends continue. House prices are increasing at an average of 0.84 per cent a month across England, according to research by [...]
FTSE 250 closes at record high on recovery hopes May 7, 2021 The FTSE 250 mid-cap index closed at a record high this week as hopes of a stronger economic recovery lifted industrial and consumer discretionary stocks. The FTSE 250 index advanced 1.2 per cent, with industrial stocks, including Easyjet, IMI and Pagegroup, rising between 2.7 and 5.1 per cent. The FTSE 100 meanwhile rose 0.76 per cent, [...]
Labour’s credibility is hanging by a thread – the defeat in Hartlepool is just the beginning May 7, 2021 When Labour MP Mike Hill resigned his Hartlepool seat in March, many speculated that the by-election would pose a major challenge for Keir Starmer. Few would have believed the Conservatives would manage kind of landslide victory which was announced early on Friday morning. Just for a government to gain a seat in a by-election is [...]
Has Covid changed the shape of London forever? May 6, 2021 After a rollercoaster year and a half, our economy is preparing to burst back to life. Fuelled by the joint success of the vaccine rollout and our effort in the third lockdown, we are now fighting back against our invisible foe that has, and continues, to wreak havoc around the world. Yet, life as we know [...]
March was HSBC’s strongest mortgage completion month in more than 40 years May 6, 2021 HSBC handed out more mortgages in March than in any other month of more than 40 years offering home loans. In a sign of the recent boom in housing market activity, HSBC UK said March was its strongest ever month for mortgage completions, including deals for more than 3,000 first-time buyers. The bank declined to [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 5, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. OneBanks hires ex–Lloyds chief as its first CTO Shared branch banking venture OneBanks has appointed a former Lloyds Bank executive as its first chief technology officer (CTO) this week. Andy Willmot, once [...]
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
UK house prices grow at fastest pace in more than 15 years in April April 30, 2021 UK house prices grew at the fastest pace in more than 15 years this month, according to the latest research. The average house price was up 2.1 per cent month-on-month, the biggest monthly rise since February 2014. Annual house price growth rebounded to 7.1 per cent in April compared to 5.7 per cent in March, [...]
Do no harm: An interview with David Newns April 29, 2021 Are successful entrepreneurs born with it, or made through their circumstances? In David Newns’ case, it was a bit of both. The son of a biscuit factory worker, growing up in a poor part of Blackpool, from an early age Newns had a goal to be financially independent. Now 36, Newns has founded and helmed [...]
London homes snapped up by Hong Kong buyers quadruples April 29, 2021 The number of London homes being bought by Hong Kong buyers has quadrupled since the UK’s visa scheme has allowed many to relocate. Hong Kong buyers now account for four per cent of transactions in the capital, up from one per cent, according to client data from property firm Benham and Reeves. Since the British National [...]