Autumn Statement 2015 UK: Here’s how much each London borough makes from business rates November 25, 2015 The much-maligned business rates system could be in for a shakeup during today's Autumn Statement, after retailers held talks with the Treasury to demand urgent reforms to the regime. While some have suggested a major shakeup, including a revaluation of properties to ease pressure on retailers paying rates on properties last valued at the height [...]
Autumn Statement 2015: Chancellor George Osborne banks on UK housebuilding boom as experts warn of looming £30bn black hole November 25, 2015 Chancellor George Osborne will vow to double the national housing budget when he presents his five-year spending plan later today, despite new warnings that the Treasury is facing a £30bn “black hole” in its finances. In a statement to parliament combining the Spending Review and the Autumn Statement, Osborne will say that public finances “come down [...]
Chinese insurers to splurge $73bn on real estate November 25, 2015 Chinese insurers could splash out as much as $73bn (£48.4bn) on the global real estate market by 2019, new research shows, as companies look to protect themselves from volatile equity markets and take advantage of relaxed rules on overseas investment. According to Cushman & Wakefield, top insurance companies in China had just 0.8 per cent of [...]
UK house prices: This is how long you have to sell your house before estate agents lose interest November 24, 2015 Here's another reason to get your ducks in a row before hitting the market with your property. The process might be an arduous one, but the people helping you sell your home apparently have a very short attention span. A new survey suggests estate agents lose interest after just two weeks if a property hasn't received [...]
Shaftesbury continues to be buoyed by London’s West End property market November 24, 2015 London's residential property market might be cooling, but the commercial sector is showing no signs of slowing down with landlord Shaftesbury reporting strong growth for the full year. The figures Shaftesbury's net asset value per share rose 21.9 per cent to £8.69 in the year to September 30, up from £7.13 a year earlier. Earnings at the [...]
The UK property market’s secret north-south divide: It takes three times as long to sell your house in London’s Kensington or Mayfair than in Carlisle or Glasgow November 23, 2015 Selling a house in London? Good luck: it’s likely to take you three times as long as the average house sale in northern Carlisle, according to new figures revealing a different kind of north-south divide in the UK’s property market. House sellers in Carlisle, Cumbria, can expect to seal the deal after just six viewings. [...]
UK house prices have reached an all-time high – but price growth is slowing in London November 23, 2015 UK house prices surged last month, taking the average cost of a home to an all-time high – but London is falling behind. The country's average rose by 1.9 per cent in October, taking the annual growth to 10.5 per cent. That means the national average cost of a house now stands at £224,242, according [...]
City Moves for 23 November 2015 | Who’s switching jobs November 22, 2015 TISA The financial services membership organisation has appointed Kenn Taylor to its retirement policy and technical team. He has 30 years’ industry experience, most recently leading consulting teams with Troika, Navigant and Grant Thornton. THERIUM CAPITAL The third party litigation funder has appointed Timothy Mayer and Nicholas Moore as principals in its investment team. They [...]
Brands without borders: OMD’s Nikki Mendonca on the digital single market November 22, 2015 Sharing data across jurisdictions remains a headache for brands that operate within a number of different markets. The situation may be about to become a lot easier in Europe, however, due to the European Commission’s digital single market strategy. “I’m optimistic about what these changes would mean for brands,” says Nikki Mendonça, president of OMD [...]
Autumn Statement 2015: George Osborne must end the distortion caused by stamp duty hikes for high value residential property November 22, 2015 In recent years, there has been a perfect storm of changes to residential property taxation: from the introduction of the Annual Tax on Enveloped Dwellings to offshore Capital Gains Tax, from clampdowns on corporate vehicles buying property to the removal of buy-to-let relief. But one change in particular threatens to tip the market over [...]