UK house prices: House prices fall for fourth successive quarter, according to Halifax August 7, 2017 House prices fell by 0.2 per cent in the last three months, the fourth quarterly fall in a row. Prices rose 0.4 per cent between June and July, according to Halifax’s house price index, a partial turnaround from the 0.9 per cent fall in house prices recorded between May and June. The last time house [...]
Housebuilders have become hooked on the government’s help to buy scheme August 7, 2017 Have we witnessed the beginning of the end of help to buy? Shares in UK housebuilders plummeted at the end of last week after reports suggested the government has asked the London School of Economics (LSE) to review the scheme’s efficacy. It is arguable the scheme, whose first iteration was launched in April 2013, is [...]
These six charts caught our attention in July August 2, 2017 Safe as houses In the UK, house price growth began to slow noticeably last year when stamp duty on buy-to-let and second homes increased. The slowdown continued after the announcement that the UK would be leaving the EU. Perhaps surprisingly, London has been hit harder than the rest of the UK. UK growth is sluggish [...]
Inheritance tax reaches another record as £4.9bn receipts more than double in less than 20 years July 28, 2017 The government collected £4.9bn in inheritance tax in the last year, the latest data released today by tax authorities revealed. That represented only a four per cent year-on-year increase in 2016 to 2017 after a 22 per cent surge in receipts in the previous tax year, according to HM Revenue and Customs. Inheritance tax receipts [...]
Airbnb isn’t monopolising the homestay market, it’s popularised it for a new generation of business travellers July 27, 2017 A recent report by PWC found that hotel companies and peer-to-peer home swapping platforms account for the second largest share, in terms of volume of activity, of the UK’s sharing economy. With the meteoric growth of Airbnb in particular, most people assume that traditional rental and aparthotel operators, like myself, are concerned about the impact [...]
Focus On Brixton: David Bowie, buzzing nightlife and honest burgers keep average house prices at around £550,000 July 27, 2017 In many ways, Brixton is the capital of south London. With its excellent transport links into central London and exhaustive range of shopping, dining and nightlife options, if you didn’t have to work, you probably wouldn’t need to leave. It even has its own currency. Over 250 businesses accept the Brixton Pound and around £50,000 [...]
Profits at Foxtons have fallen 64 per cent July 27, 2017 Will there ever be a let-up for Foxtons? Shares in the troubled estate agent fell in early trading after it admitted profits had dived in the first half. The figures Pre-tax profits fell 64 per cent in the six months to the end of June, the London-focused estate agent said today, from £10.5m last year [...]
Property of the Week: This four-storey penthouse next door to Tower Bridge is on sale for the first time in 35 years July 27, 2017 There are penthouses with views and then there’s the High Command. This highly unusual Grade II Listed property in Shad Thames is so close to Tower Bridge that it’s practically within touching distance when you’re having a cup of tea on one of its many terraces. High Command, Shad Thames, £9.5m This is the first [...]
Identifying the risks of crowdfunding July 27, 2017 With the market recently hitting £10bn, crowdfunding is no longer a small fish in the big finance pond. But as the sector expands, it’s also becoming more complex. Some say crowdfunding operates on the fringes of mainstream finance. The phrase “accident waiting to happen” is one I still hear regularly from the old-school finance brigade. [...]
‘Toxic’ assets are making a turnaround July 25, 2017 They were branded “toxic sludge” for their role in bringing about the financial crisis, but asset-backed securities are no longer considered as dangerous as they once were. Asset-backed securities (ABS) are essentially loans which are bundled up together. The underlying assets are usually illiquid, but by packaging them up and creating a security, they [...]