Taylor Wimpey’s share price rises as it says there is a healthy backdrop to UK housing market and reports sales rates up against last year November 16, 2015 Taylor Wimpey is optimistic about the UK housing market, even with the prospect of an interest rate rise next year. Today it said it expects to improve its operating profit margin in 2015. The figures Britain's second largest housebuilder said sales rates for the year to date are ahead of last year, at 0.76 sales per outlet per week. [...]
Investors starting to warm to emerging markets again November 16, 2015 Attitudes towards investing in emerging markets have improved markedly over the last month, according to survey figures published today by one of the UK’s biggest lenders. Lloyds Bank’s investor sentiment index for emerging market shares climbed 8.47 points to a score of 5.32. The score was derived from a survey of 4,500 people. However, sentiment [...]
Suburbs lag behind inner London boroughs in housebuilding drive November 13, 2015 Inner London boroughs are granting planning permission for more new homes than the all of the surrounding outer boroughs put together, according to a new report that warns of a growing prosperity divide within the capital. Stirling Ackroyd’s latest New Homes Monitor showed London’s thirteen Inner boroughs approved a total of 11,970 new homes throughout [...]
City Moves for 13 November 2015 | Who’s switching jobs November 12, 2015 SAVILLS The property consultancy has appointed Derek Moir as a director in its building and project consultancy team. He has over 27 years’ experience in the property sector, and is returning to Savills after seven years in China, where he was head of Turner & Townsend’s Beijing office. DELOITTE Jason Warnes has been appointed partner [...]
Derwent sells Covent Garden’s Davidson Building for £66m as third quarter lettings soar November 12, 2015 Derwent London's Davidson Building in Covent Garden has been snapped up by US real estate firm Cornerstone for £66.2m, the developer said yesterday, as it reported a surge in third quarter lettings. The company bought the office building and redeveloped it in 2003, keeping the Edwardian façade on Southampton Street. It was named the Davidson [...]
Number of new homes built in England at highest level in 28 years November 12, 2015 The number of new homes in England has risen by a quarter over the past year, the highest annual increase in 28 years, official figures show. A total of 170,690 residential properties were created in 2014/15, a 25 per cent increase on the previous year when the number of homes increased by 10 per cent, according data [...]
Punch Taverns more than halves yearly losses November 12, 2015 Pub group Punch Taverns, owner of around 3,500 pubs nationwide, has narrowed its yearly losses by over half to £105m, from £240 million a year earlier. Refinancing of debt with a charge of £166m and the falling value of its real estate was mostly to blame. Shares in the pub company have fallen today by [...]
UK house prices will rise by 25 per cent in the next five years as demand outstrips supply: Royal Institute of Chartered Surveyors November 12, 2015 House prices will rise by 25 per cent over the next five years, The Royal Institution of Chartered Surveyors has estimated, issuing another warning that supply is failing to keep up with demand. Properties sold at higher prices throughout the UK for the third consecutive month in October, with 49 per cent more chartered surveyors seeing an increase, [...]
Best of the Brokers for 12 November 2015 November 12, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Canaccord Genuity reiterated its “buy” rating on the insurance firm, but increased the target price from 800p to 910p. The broker noted reports that Novae is set to launche a new special purpose syndicate to underwrite US excess and surplus lines property and [...]
House purchase lending jumps to seven-year for October November 12, 2015 Mortgage lending reached its highest level for the month of October in seven years, new data released today shows, as low inflation rates and rising wages helped keep consumer confidence levels high. Overall house purchase lending approvals reached 72,409 in October, up by 5.1 per cent on the previous month and 21.9 per cent ahead [...]