With mortgage rates heading towards 1 per cent, should we be worried about a bubble in the market? February 29, 2016 Scott Corfe, director at the Centre for Business and Economic Research, says Yes. Most of the house price growth seen in the UK over the past couple of years has been fundamentals-driven. Supply of new homes simply hasn’t caught up with demand. However, one does wonder if we are now veering into bubble territory – particularly [...]
Mike Ashley’s Sports Direct faces relegation from FTSE 100 index February 28, 2016 Sports Direct faces relegation from the FTSE 100 list when the blue chip index of top UK companies comes up for renewal next week, after a dismal performance this year. Shares in Mike Ashley’s troubled sportswear empire have plunged by 50 per cent since August last year amid growing criticism over its working practices and [...]
House prices rise again, with the value of London residential properties shooting up by 14 per cent year-on-year, while sales inch down two per cent February 26, 2016 The price of residential property has edged up with the capital seeing the biggest increases in value over the last year, figures released today show. According to the Land Registry's monthly market trend data for January 2016, the average price of residential property in England and Wales rose by 7.1 per cent over a year and [...]
City Moves for 26 February 2016 | Who’s switching jobs February 26, 2016 Edmonds Marshall McMahon Private prosecution law firm Edmonds Marshall McMahon has announced the firm’s expansion into civil fraud with the appointment of leading City litigator Robert Hunter. He joins as a partner from Herbert Smith Freehills where he was head of the fraud and asset tracing group. Robert has over 25 years’ experience in the [...]
UK house prices: two thirds of workers earned less than the average property last year February 26, 2016 Two out of five UK workers (38 per cent) earned less than the average home in the last 12 months, a new study by Post Office Money claims. The Cost of Buying & Moving report, which was compiled by the Centre for Economics and Business Research (Cebr) found that average house prices rose by seven per cent – [...]
Derwent London signs up Capita to Copyright Building after year of record lettings February 25, 2016 Derwent London said has struck a deal to let an entire office building in London's West End to professional services firm Capita as it posted a strong set of full-year results. The FTSE 250 developer said Capita has agreed to pre-let 87,150 square feet of office space at The Copyright Building on Berners Street more than a year ahead of completion, in [...]
We profile five young developers that are shaking up the UK property industry February 25, 2016 The free-thinking “millennial generation” could be our most entrepreneurial age group. Having pushed the boundaries of communications and technology, many are now challenging traditional businesses, including property development, and are making a significant mark. They may be young, but the self confidence and business sense of the five developers profiled here has helped them deliver [...]
City Living: Kenmont Gardens in Kensal Rise is the most impressive church conversion you’ve ever seen February 25, 2016 A lot can change in ten years. Chamberlayne Road, the jugular vein of Kensal Rise that pumps all life between Ladbroke Grove and Willesden Green, was once the drive-by-shooting capital of London. Now, it’s packed with pubs, music venues, boutiques and restaurants and the surrounding streets are populated by a host of celebrity admirers and [...]
Country Living: Architect Gareth Hoskins brings modernism to the Lomond Hills February 25, 2016 The Duncan House was designed by the architect Gareth Hoskins OBE in 2002, located within the historic walls of a former fruit garden at the foot of the picturesque Lomond Hills, sixteen miles from St Andrews, in Fife. Full-height windows across much of the house give wonderful views across the surrounding landscaped gardens and make [...]
Countrywide blames volatile residential sales market for 40 per cent drop in profits February 25, 2016 Britain's largest residential property services group Countrywide suffered a 40 per cent slump in profits last year after a slowdown in house sales following the General Election and increasing competition from online agents took its toll on the group. The company, which owns 50 high street brands including Hamptons, Blundells and John D Wood, said pre-tax profits slumped to £47.7m in [...]