Redrow reports record results but warns over end of Help to Buy September 5, 2019 Redrow reported the sixth consecutive year of record figures this morning after the housebuilder secured a 13 per cent boost to legal competitions. The FTSE-250 property developer reported record profit and revenue figures, but warned that changes to the government’s Help to Buy scheme and Brexit uncertainty would affect trading going forward. Read more: Redrow [...]
The great Premier League giveaway: Why Sky Sports are handing over free highlights on YouTube September 4, 2019 Premier League football is an expensive commodity and to extract every ounce of its value broadcasters need to innovate. In February last year Sky Sports pledged £3.6bn to buy 128 live matches per season in the 2019-22 rights cycle. That might have worked out as a reduction from its previous deal – £4.2bn for 126 [...]
Dunelm shares slide despite strong profit growth September 4, 2019 Shares in Dunelm slumped this morning despite strong profit growth as the homeware retailer warned of a challenging year ahead. Dunelm shares were down as much as nine per cent after it reported cautious outlook for the year ahead as Brexit uncertainty weakens consumer confidence. The figures Profit before tax was up 23.4 per cent [...]
Housebuilder Barratt Developments defies Brexit jitters as profits climb September 4, 2019 Barratt Developments shrugged off concerns of a housing market slowdown today after reporting a rise in pre-tax profits for the year to June 2019. The figures Britain’s largest housebuilder, which has been reducing its exposure to Central London’s subdued property market, posted profits before tax of £910m in the 12 months to 30 June, rising [...]
DEBATE: Is there any merit to Labour’s idea of a ‘right to buy’ policy for private renters? September 3, 2019 Is there any merit to Labour’s idea of a ‘right to buy’ policy for private renters? James Meadway, an economist and former adviser to John McDonnell, says YES. Labour looking into a right to buy for private tenants could be a godsend for those tens of thousands of private renters who find themselves on the [...]
Labour floats radical housing policy as election looms September 2, 2019 Labour is mulling a radical new housing scheme in which first-time buyers could potentially purchase their property for less than the market price. Shadow chancellor John McDonnell said the plan, first floated by Jeremy Corbyn in 2015, would disrupt the rising buy-to-let market and stop landlords making “a fast buck” at the expense of their [...]
No-deal Brexit to accelerate London house price drop September 2, 2019 London house prices could sink up to seven per cent next year if no Brexit deal is reached by the 31 October deadline date, according to the latest research. If the UK exits the European Union with a deal London house prices will fall by a smaller 4.7 per cent, continuing the trend of declining [...]
Berkeley Group faces opposition to new bonus policy September 1, 2019 Berkeley Group is facing opposition to its payment policy after a shareholder advisory firm urged investors to vote against the housebuilder’s new bonus structure at a meeting this week. The payment policy has been opposed by Institutional Shareholder Services (ISS), which said proposals to axe its bonus were “unlikely to affect the remuneration received by [...]
Zoopla founder raises £25m for used car startup Cazoo September 1, 2019 A company planning Amazon-style home delivery for cars has won a further £25m in backing ahead of its launch later this year. Cazoo, the brainchild of Zoopla founder Alex Chesterman, got investments from DMG Ventures, Stride VC, Octopus Ventures and Entree Capital. Read more: Zoopla founder Alex Chesterman drives away with £30m funding for used [...]
UK house prices remain stagnant as no-deal Brexit looms August 30, 2019 UK house prices grew at less than one per cent for the ninth month in a row in August, Nationwide figures revealed today, prompting calls for Boris Johnson to slash stamp duty. The value of homes did not grow between July and August, Nationwide’s House Price Index found. Read more: London commuter belt house prices [...]