Donald Trump’s fairy tale economics is bad for his party and terrible for America July 27, 2015 The Republican Party must be tearing its hair out. For years, visitors from the US have extolled the strength of the party’s potential Presidential candidates for 2016. The pack is certainly more impressive than in 2012 and, with the exception of one or two candidates, they are ostensibly advocates of relatively free market policies. In [...]
Gold price hits five-year low: Is it all over for the precious metal? July 27, 2015 With prices at five-year lows, Annabelle Williams asks whether the precious metal is truly hammered The gold price has been hammered in the last few weeks, leaving the precious metal at the lowest prices for five years. Gold took a nosedive last week when an unknown entity – with considerable power, perhaps a [...]
First homes inside former BBC Television Centre go on sale next month – starting at £500,000 July 27, 2015 Homebuyers will be soon able to own a slice of television history, with the first 450 homes inside the former BBC Television centre set to go up for sale next month. The scenery block at the former BBC Television centre in London’s White City is eerily quiet. For over 50 years the cavernous space used [...]
London house prices: The north-south divide emerging in the capital’s property sector July 27, 2015 One interesting factor in new figures published today (more on that here) is a sign growth in house prices is slowing in parts of London. In fact, it looks like there's a north-south divide emerging – and in this case it's grim down south. The figures, by Haart estate agent, showed while prices across the [...]
UK house prices: The average cost of a home for first-time buyers increased £138 a day in June July 27, 2015 Despite all George Osborne's efforts, it looks like first-time buyers are bearing the brunt of the increase in house prices again, after new figures showed the average price of a first-time buyer home leaped by £4,150 in June. That's £138 a day. Read more: Thinking of leaving London? These are the best commuter towns to move [...]
Great Scotland Yard snapped up by Indian billionaire Yusuffali Kader’s Lulu Group for luxury hotel July 26, 2015 Indian billionaire Yusuffali Kader has snapped up the historic home of London's Metropolitan police and will turn Great Scotland Yard into a luxury hotel. Kader's Abu Dhabi headquartered Lulu Group has bought up the Edwardian building in Whitehall in a £110m deal with Galliard Homes, and will work with the Steigenberger Hotel Group to run the [...]
London house prices are being driven up by foreign criminals laundering money July 25, 2015 Foreign criminals who launder money through the purchase of high-end London properties are pushing up house prices, according to the National Crime Agency. "I believe the London property market has been skewed by laundered money," Donald Toon, the agency's director of economic crime command, told the Times. "Prices are being artificially driven up by overseas [...]
Housing market starting to “hot up” as mortgage approvals soar to a 15-month high July 24, 2015 The housing market is beginning to heat up again as mortgage approvals rose for the sixth consecutive month in June, taking them to a 15-month high. Figures released today by the British Bankers Association showed the number of mortgage approvals rose to 44,488 last month, from 42,876 in May. Remortgaging rose 20 per cent in the [...]
City Moves for 24 July 2015 | Who’s switching jobs July 23, 2015 CVC Credit Partners Chris Fowler has been appointed managing director in the asset management and investment firm’s private debt team. Based in London, he joins from GE Capital, where he was managing director in the mid-market leveraged finance origination team. Fowler began his career at Morgan Stanley. Lloyds Bank Commercial Banking The bank has announced [...]
Bashing buy-to-let landlords will push up rents and hit the UK economy hard July 23, 2015 Buy-to-let landlords have a huge advantage in the market as they can offset their mortgage interest payments against their income, whereas homebuyers cannot.” That’s how the chancellor explained his decision in the Budget to require that landlords, unlike other businesses, effectively pay tax on their borrowings – their buy-to-let mortgage. But the chancellor has made [...]