House prices set to be bolstered by scant supply June 4, 2015 HOUSE prices dropped in May, one of the UK’s major mortgage providers said yesterday, but analysts expect a quick rebound. Houses lost 0.1 per cent of their value from April to May, according to figures published by Halifax. However, house prices are up 8.6 per cent compared to May 2014. Nationwide said earlier this week [...]
Savills says housing shortfall to reach 1m without more supply June 4, 2015 The housing shortfall in England is set to reach 1m homes within 10 years, according to new research from a leading estate agent. Savills said that England faces an annual housing shortfall of 100,000, a problem that the estate agent said can only be solved by the government boosting the supply of development land in high-demand locations [...]
Competition probe into Greene King’s Spirit Pub takeover moves on to consultation stage June 4, 2015 Greene King’s proposals to the Competition Market Authority (CMA) regarding its acquisition of the Spirit Pub Company reached consultation stage yesterday. The consultation comes after the regulator raised concerns about the £774m merger shortly after it was announced in May. At the time the authority said the current proposal would “substantially” lessen competition in the [...]
Moneycorp profits up on boom in international payments unit June 4, 2015 Foreign exchange provider Moneycorp increased its gross profits by 26 per cent on the year in the first quarter of 2015, its financial results show today. Its earnings rose from £22.7m in the first three months of 2014 to £28.6m in the same period of this year. Retail growth was relatively subdued, with revenues up five [...]
City Moves for 5 June 2015 | Who’s switching jobs June 4, 2015 AIG The insurer has announced the appointment of Angus Marshall as mergers & acquisitions (M&A) manager for the UK. He joined AIG in 2013 as an M&A underwriter. Marshall has also held positions in PwC’s international tax and M&A practice and in Norton Rose Fulbright’s private M&A division. Edmond de Rothschild Philippe Jouard has been [...]
UK house prices drop in May: Tug of war as high price-to-earnings ratios and a lack of supply affect market June 4, 2015 UK house prices dropped for the first time in three months this May, according to data from Halifax. The market is feeling the effects of a tug of war as a lack of supply drives prices higher, stretching finances and affecting sentiment. The figures On a monthly basis – the most volatile measure – house [...]
More UK home buyers are using cash to seal deal June 3, 2015 A RECORD high proportion of homes were sold without the need for a mortgage during the first three months of year, a major mortgage provider said yesterday. The share of cash purchases in the housing market reached an all-time high of 38 per cent in the first three months of the year, according to Nationwide. [...]
City Moves for 4 June 2015 | Who’s switching jobs June 3, 2015 PwC Gareth Lewis has been appointed director in PwC’s real estate practice. He has formerly worked as a consultant at EY and the Urban Land Institute. Lewis has also been a representative at the European Public Real Estate Association and the British Property Federation. JLT Re The reinsurance broking and consultancy firm has appointed Chris [...]
UK house prices: The proportion of house buyers shunning mortgages for cash purchases has hit a record high June 3, 2015 More people than ever before are buying houses without the need for a mortgage, according to new figures. Almost four in 10 people (38 per cent) paid for their properties in cash during the first quarter of the year, Nationwide has said. This mitigated subdued mortgage lending data to some extent. There are signs that [...]
UK house price growth slows to lowest rate in over a year June 3, 2015 UK house price growth slowed in May, with the annual growth rate slowing to an annual rate of 4.6 per cent in May – down from 5.2 per cent in April and the lowest rate since August 2013. The figures The average cost of a house in the UK now stands at £195,166 – the [...]