UK house prices: Most landlords to hold rents in first half of 2016 as price growth slows December 9, 2015 Rents on new tenancies agreed over the three months to November fell in most areas of the country, according to research from HomeLet that also suggests nine in 10 landlords do not intend to raise existing rents in the first six months of the year. The insurance provider’s latest rental index shows rents on new [...]
UK property listings drop by a fifth in November as London scores zero December 9, 2015 New property listings dropped by more than a fifth across the UK in November, with not one London borough recording a rise in supply, new research shows. The number of new homes on the market dropped by 21.5 per cent, according to the latest Property Supply Index by online estate agents HouseSimple.com, marking the biggest drop [...]
Property tech sector is battling inertia to shake up Britain’s housing industry December 8, 2015 The UK property technology sector has undeniably seen substantial growth over the past 18 months. In June last year, the property portal Zoopla listed for approximately £1bn. Since then we have seen the launch of a startup accelerator dedicated to early stage property businesses and a large amount of capital invested into young companies which [...]
UK house prices: Mortgage rates hit record low as more people opt for fixed rate deals December 8, 2015 Mortgage rates dropped to their lowest on record between July and September, according to figures released by the Bank of England this morning. The overall average interest rate on mortgage advances dropped to 2.76 per cent, from 2.83 per cent. The proportion of new mortgages that are fixed-rate climbed to 80.7 per cent from 78.9 [...]
Bank warns looming credit boom risks housing bubble December 8, 2015 The noughties were not humanity’s greatest decade. It brought us boot cut jeans, velour tracksuits and 50 Cent – and now a report has warned that we could be heading back there, thanks in part to the Bank of England’s monetary policy committee (MPC). According to BNP Paribas Real Estate, if the MPC shies away [...]
Oil price drags on the FTSE 100 as airlines takeoff – London Report December 8, 2015 OPEC’S failure on Friday to agree to curb oil production weighed yesterday on the FTSE 100 index. The cartel failed to reach agreement despite a global supply glut and the strength of the dollar, which is leading to the collapse of global oil prices, with the resulting uncertainty hitting stock markets. The FTSE 100 closed [...]
City Moves for 8 December 2015 | Who’s switching jobs December 7, 2015 BAKER & MCKENZIE Global law firm Baker & McKenzie has appointed Andy Moody as a partner in London. He joins in early 2016 from Eversheds. Andy has acted on a wide range of commercial disputes, focusing on international arbitration. His experience is in the energy sector where he has advised on international upstream, downstream and [...]
Smart Beta tops Investopedia’s list of 2015 finance buzzwords December 7, 2015 Investopedia, the wikipedia of finance, added 672 terms to its site in 2015. The list partly a reflection of the financial trends that took 2015 by storm including, Unicorns such as Uber and Snapchat, the renewed fear that Greece would ditch the euro, and the popularity of Fintech. Here's Investopedia's top 10: 10. Backdoor Roth IRA An [...]
At the close: FTSE 100 index closes down on oil companies December 7, 2015 The FTSE 100 index closed down today as oil companies were hit after the Organisation of Petroleum Exporting Countries failed to agree to curb production. Opec failed to agree on curbing production despite a global supply glut and the strength of the dollar, which is leading to the collapse of oil prices, with the resulting uncertainty [...]
National Australia Bank (NAB) reveals new details about Clydesdale Bank IPO set for February of next year December 7, 2015 National Australia Bank (NAB) has today unveiled new details about its planned spinoff of Clydesdale Bank, saying that the demerger and initial public offering (IPO) of the British business is set to go ahead next February. NAB intends to sell 25 per cent of Clydesdale to new investors in the IPO, while giving the remaining 75 [...]