First-time buyer demand boosts July mortgage figures September 17, 2019 First-time home buyer demand has remained strong despite ongoing political and economic uncertainty. Mortgages for buyers making their first step on to the property ladder in July increased 5.8 per cent compared to the same month last year. Read more: Shifting stamp duty would hurt first-time buyers The number of homemover mortgages also increased 1.4 [...]
Value of government’s £22bn Help to Buy scheme ‘uncertain’ September 17, 2019 MPs have raised alarm bells over the government’s costly Help to Buy scheme, noting that more than half of those it helped did not need financial support, while warning it does not address structural problems in the housing market. The scheme, which will cost an estimated £22bn – more than eight-times its original budget, has [...]
Integrity International Group buys iconic TfL building for £120m September 16, 2019 Transport for London (TfL) has sold its Grade I-listed 55 Broadway headquarters to Integrity International Group for more than £120m. TfL put the 150-year leasehold for the St James’s office complex on the market in May this year in order to reduce its office administration costs and increase revenue for infrastructure works. Read more: Transport [...]
MJ Gleeson shrugs off Brexit fears as profits rise September 16, 2019 Low-cost housebuilder MJ Gleeson posted a double-digit rise in earnings for last year as it shrugged off Brexit uncertainties and enjoyed continued demand in the north of England. Read more: MJ Gleeson boss: Our customers don’t give a damn about Brexit The developer reported £41.2m of pre-tax profits during 2019, rising 11 per cent from [...]
How to invest in Veganism September 16, 2019 We have a look at how companies are responding to the rise in veganism and explain how investors and traders can capitalise as people around the world begin to reduce their meat intake and consume more plant-based alternatives. Many food products are naturally friendly to vegans, like vegetables, which means the vegan market is already [...]
UK house prices see first September fall for nine years September 16, 2019 UK house prices have witnessed their first September fall since 2010, according to a closely-watched gauge, as Brexit uncertainty continues to dampen sales. The average price of property coming to market fell by 0.2 per cent in September, the house price index from real estate website Rightmove showed. “As we approach yet another Brexit deadline, [...]
Wework IPO: Firm cuts founder’s supervoting power to save float September 13, 2019 Wework is set to slash the supervoting power of its co-founder to assuage fears of investors as it tries to save the company’s initial public offering (IPO). The firm will also appoint a lead independent director by the end of the year as well as cut Neumann’s voting power from 20 votes per share to [...]
Wetherspoons boss Tim Martin slams ‘elite Remainers’ as profit sinks September 13, 2019 Wetherspoons boss Tim Martin has launched a tirade against “elite Remainers”, as the budget pub chain posted a decline in pre-tax profit for the full-year. Read more: Propping up the bar: Wetherspoons toasts no-deal Brexit by slashing the price of a pint The figures Wetherspoons posted a 6.8 per cent increase in like-for-like sales in [...]
How retail rookie Sharon White can turn John Lewis’ fortunes around September 13, 2019 John Lewis Partnership reported its first ever half-year loss yesterday, blaming falling sales and rising costs for a gloomy six months. It’s bad news for incoming chair – and retail rookie – Sharon White, who has a challenge on her hands to turn around the department store’s fortunes. Read more: John Lewis swings to a [...]
New builds: Properties on the market in London this week, from Nine Elms penthouses to Spitalfields family homes September 13, 2019 Battalion Court, Woolwich From £343,000 for a one-bed This Saturday, Bellway is launching a new show home at its Battalion Court development in Woolwich. The homes are perfectly placed for buyers looking to take advantage of the Crossrail effect, with nearby Woolwich station set to open in 2020. One, two and three-bed apartments are available [...]