Britain needs to up its game on broadband – or creaking digital infrastructure will hit growth December 15, 2015 The UK is in the middle of a digital revolution. Over the last decade, the internet has emerged as the lifeblood of the modern world. In towns and cities across the country, businesses, governments and residents are becoming ever more dependent on an abundance of digital services and, consequently, on the wires and cables under [...]
Woman leaves her house to donate old clothes to charity, comes back with a £800,000 house December 15, 2015 Impulsive Christmas purchases took a rather excessive turn this week, after a well-heeled woman ventured out into the cold to donate a couple of old coats to charity and came back with the deed to a house in South Ken. The un-named buyer visited Chestertons, in Kensington High Street, to drop off some old winterwear [...]
Where to invest in buy-to-let properties for the best rental and capital yields: Manchester, Liverpool, Cardiff and north west versus London December 15, 2015 Buy-to-let investors worried there may be a bust coming can breathe a sigh of relief, for the moment at least – new figures show little sign of new measures such as a hike in stamp duty and mortgage interest tax relief putting a dampener on things. "If a buy to let bust really was just [...]
UK house price growth hits its highest since March – and that’s before buy-to-let investors began the rush December 15, 2015 UK house prices grew seven per cent in the year to October, their highest growth since March. The average house price rose to £287,000, up from £286,000 in September, the Office for National Statistics said, as the prospect for low interest rates continued to fuel the market. The largest increase was experienced in the East of England, [...]
Uber, drills and the death of ownership: Why the future is renting… everything December 14, 2015 If markets are so great, why do firms exist at all? To a non-economist, that might seem like a bizarre thing to ask. Yet the growth of the misleadingly named “sharing economy” is making it one of the most important questions for understanding the future economic structure of our world. We have traditionally thought that [...]
The government’s buy-to-let stamp duty increase will cost landlords the equivalent of 11 months’ rental income December 14, 2015 George Osborne's hike of stamp duty on buy-to-let properties could cost landlords the equivalent of 11 months' income, new research has suggested. The Countrywide Lettings Index suggested that the three per cent rate will mean a 0.2 per cent drop in yields – the equivalent of 11 months' income, when you take into account borrowing costs. Those [...]
Rightmove: London house prices beat the seasonal slump December 14, 2015 London asking prices have gone up 10 per cent in the last year, yet some experts are warning the market could run out of steam in 2016. Prices are down 0.5 per cent compared with last month, according to figures published by property website Rightmove this morning. The smallest December dip since 2008 took asking [...]
Alibaba buys South China Morning Post as media interests grow December 11, 2015 Alibaba has added to its expanding media empire by buying the South China Morning Post, Hong Kong's biggest local English-language newspaper. Read more: Alibaba made £9.4bn in 24 hours on Singles Day The Chinese e-commerce giant did not disclose the financial terms of the deal for the 112-year old paper owned by SCMP Group Ltd – a [...]
Iron ore on course for longest losing streak since financial crisis December 11, 2015 Iron ore prices are on course to fall for the ninth week in a row, meaning the steel-making material will clock its longest losing streak in seven years. Iron ore has shed 3.8 per cent this week, haven fallen to just $38.52 a tonne today. This marks a record low in daily prices compiled by Metal Bulletin, which [...]
Property of the Fortnight: Inside former England defender Sol Campbell’s £6.5m Chelsea penthouse December 11, 2015 No one knows how to flash their cash like Premier League footballers. From Mario Balotelli’s camouflage Bentley to Steven Ireland’s £100,000 aquarium (complete with a coral reef imported from Fiji), they’re pretty big spenders, if not exactly renowned for their good taste. But when estate agents Strutt & Parker revealed former England defender Sol Campbell’s home [...]