Stock market winners and losers after Autumn Statement: Estate agents hit after chancellor scraps letting fees November 23, 2016 Estate agents Foxtons, appear to have been the biggest losers from the Autumn Statement on the stock exchange today after chancellor Philip Hammond announced plans to scrap letting agents’ fees. Estate agents: losers Foxtons' share price fell 14 per cent to 105pon the day of the Autumn Statement. The estate agent’s shares were already down [...]
Estate agent and housebuilder shares are being demolished after the Autumn Statement November 23, 2016 Shares in some of the UK's biggest estate agents dived today ahead of the Autumn Statement, in which the chancellor is expected to scrap fees for letting agents. Foxtons' share price was down a whopping 14.8 per cent at 104.5p in mid-afternoon trading, after Philip Hammond scrapped letting agents' fees, saying landlords should pay instead. [...]
New £2.3bn housing infrastructure fund announced in Autumn Statement November 23, 2016 A new £2.3bn housing infrastructure fund has been announced in the Autumn Statement to unlock new land for house building in high demand areas. The chancellor Philip Hammond also said there would be a £1.4bn fund to be spent on building 40,000 new homes. He announced a £3bn homebuilders' fund for 200,000 new homes and £2bn to build [...]
Hammerson goes on £502m European shopping spree November 23, 2016 Hammerson has been on a European shopping spree, buying up four shopping centres on the continent. The property investor has spent £502m on acquisitions in Germany, Portugal, Spain and Poland, acting with partners VIA Outlets, APG, Meyer Bergman and Value Retail. Its largest purchase was Germany's first established retail centre, a shopping centre in Zweibrucken, on the border between [...]
The boss of BA had no idea Heathrow expansion would demolish his £200m HQ November 23, 2016 The boss of BA Willie Walsh was left rather surprised to find that the expansion of Heathrow airport would end up demolishing his £200m headquarters, it turns out. He may be a powerful man in the world of airlines, but Walsh revealed the firm received "no formal warning of the proposed demolition", speaking to the Guardian. [...]
Six ways to make sure your home sells this winter November 22, 2016 The nights might be drawing in and the mercury may be falling – but that doesn't mean you shouldn't put your house on the market. In fact, the concept that putting your house up for sale in winter is a bad idea is a popular misconception. By following some of our winter-specific tips, you can [...]
Britain’s insurers pay-out huge numbers to settle claims November 22, 2016 Britain's insurers are writing cheques for a whopping £131m a day according to one of the sector's main industry bodies. The Association of British Insurers (ABI) revealed the news today and while a large proportion of pay-outs are related to long-term savings and pensions, paying out for motoring claims represent a hefty chunk of what insurers must fork-out. Read [...]
Property transactions fell eight per cent in October November 22, 2016 Property transactions fell eight per cent year-on-year in October, according to figures from HM Revenue and Customs (HMRC). Read more: London's house prices won't rebound until 2020, according to JLL When accounting for seasonal changes in property sales, the number of residential property transactions in October came to 97,640, as compared to 106,120 in the [...]
Mitchells & Butlers reports a drop in annual profits citing cost pressures and competition November 22, 2016 Pub and restaurant operator Mitchells & Butlers announced a drop in like-for-like sales as annual profits fell by more than a quarter for the year ended 24 September. The figures Like-for-like sales were down on the whole by 0.8 per cent, but the company is progressing toward growth with a rise of 0.5 per cent the last eight weeks' sales. Like-for-like food volumes [...]
Autumn Statement 2016: Looming dangers demand an urgent rethink of monetary policy in Britain November 21, 2016 A widely-held, but erroneous, view is that low interest rates act invariably as a welcome, unambiguous boost to business, consumers and the economy. Nonetheless, it seems almost incredible that the Bank of England has maintained an emergency rate since March 2009. The granting of (notional) independence over monetary policy to this institution has allowed politicians [...]