Just Group shares jump as profit survives pandemic August 13, 2020 Just Group’s shares leapt today after it posted slightly higher profit for the first six months of 2020 today despite the pandemic. The figures Underlying operating profit rose £3m to £117m year on year for the first half of 2020. Profit from active life insurance policies shot up 25 per cent year on year to [...]
More than 3m older people can’t downsize due to lack of suitable housing August 13, 2020 More than 3m people in the UK over the age of 65 want to downsize to a smaller home but can’t due to a lack of suitable housing and a competitive market. Ahead of the Autumn Budget, a report by Homes for Later Living called for ministers to set a goal of building 30,000 retirement [...]
Coronavirus: Natwest to slash 500 jobs and shut London office August 12, 2020 Natwest today said it will cut at least 500 jobs across its retail business and shutter one of its London offices as it battles to cut costs during the Covid-19 crisis. The bank said it will carry out a voluntary redundancy plan affecting 550 roles in its branches and premier banking service. It will also [...]
The City is the best regulated financial centre in the world — it must shun those calling for a bonfire of regulation August 11, 2020 As we approach the end of the Brexit transition period, the siren voices advocating for a bonfire of the current regulatory system grow louder. Their argument is that regulation is costly, stifles innovation, and holds back our banks and financial institutions. They look at other jurisdictions, such as the United Arab Emirates (UAE) and in [...]
Government urged to pay £5bn of retailers’ rents after lockdown August 10, 2020 Retail, hospitality and leisure firms have urged the government to pay up to £5bn to cover a proportion of rents for struggling businesses to avoid further high street job losses. Trade bodies, including the British Property Federation (BPF), British Retail Consortium (BRC) and UK Hospitality, have called on the government to launch a Property Bounceback [...]
Rightmove: Demand surges 50 per cent after housing market reopens August 7, 2020 Property platform Rightmove said demand was up 50 per cent in June and July as potential buyers sought new homes after months spent in lockdown. Rightmove’s share price jumped 8.93 per cent to 629.4p this morning after the company reported a bounce in activity after the housing market reopened. The figures In the six months [...]
UK house prices jump in July in post-lockdown ‘mini-boom’ August 7, 2020 UK house prices jumped in July after coronavirus lockdown restrictions eased and the government announced a stamp duty holiday, sparking a “mini-boom” in the property market. UK house prices in July were 1.6 per cent higher than the previous month. House prices last month were also 3.8 per cent up compared to July 2019, according [...]
Property industry reacts to planning system overhaul August 6, 2020 The government has launched a consultation on England’s planning system, as it seeks to slash red tape for new developments. In the planning White Paper, published this morning, the government said it wanted to cut the number of planning cases that are overturned at appeal by creating a “clearer, rules-based system”. Every area will have [...]
Government wasted £150m on unusable face masks bought from banker August 6, 2020 The government is facing calls to investigate its procurement of personal protective equipment (PPE) during the pandemic, after it emerged ministers spent at least £150m on unusable face masks from a family investment firm. The face masks, which were part of a £252m government contract with investment firm Ayanda Capital signed in April, were deemed [...]
Estate agent LSL Property Services reports ‘extremely encouraging’ July trading August 5, 2020 Estate agent LSL Property Services, the owner of Your Move and Reeds Rains, reported “extremely encouraging” trading in July after the housing market reopened. The figures In the six months to 30 June, group underlying operating profit was up £300,000 to £12.5m. The figure does not include coronavirus-related costs of £2.8m. It also does not [...]