Airbnb is about to muscle in on the professional property management business May 19, 2015 Flat rental site Airbnb may have built its reputation on the sharing economy – but with a valuation of about $20bn, it was only a matter of time before it got into the professional property management business. Read more: Escape it all – the 21 most deliciously remote Airbnb rentals Now, it's been reported the [...]
Lack of London office space drives a 24 per cent increase in office construction May 19, 2015 The amount of office space under construction in London rose by 24 per cent in the six months to the end of March, rising to 9.5m square feet. A report by Deloitte shows the improving economy is driving a rise in speculative building, with more and more office space available to let. A dearth of [...]
UK house prices: Scotland’s growth at its highest since 2007 as prices accelerate May 19, 2015 The UK’s house price growth rose to 9.6 per cent for the year to March, with Scotland the east of England and London driving the rise. The figures The 9.6 per cent rise in the UK for the year to March was 1.2 percentage points higher than the 7.4 per cent recorded in February. The [...]
Phoenix Spree Deutschland IPO: German rental property fund eyes a float on the London Stock Exchange May 18, 2015 German real estate investment vehicle Phoenix Spree Deutschland will today announce it intends to float on the main market of the London Stock Exchange next month. The company, which focuses on German residential property, will list in the second week of June, with 69.9m shares on the block. The firm, which was founded by a [...]
Deflation, no demand: Global economies struggling to up inflation and stagnation is on the rise May 18, 2015 We are now well into the second phase of post-financial crisis recovery. The first, terrifying phase was the period when central banks had to cut interest rates to zero and then develop and deploy new, unconventional weapons, including QE. The European Central Bank (ECB) had to be more imaginative than others, as it tried [...]
Global finance chiefs urge policy makers to ward off bubble risks May 18, 2015 Chief executives, chairmen and senior executives of some of the largest banks in Europe and the US have warned of the potential for unforeseen risks caused by policy makers attempting to avoid future financial crises. Douglas Flint, group chairman of HSBC, UBS chairman Axel Weber, Deutsche Bank's co-chief executive Anshu Jain, Larry Fink, chief [...]
Mitie share price rises despite homecare and house building struggles May 18, 2015 The figures Shares in FTSE 250-listed waste management outsourcer Mitie opened over three per cent higher at 297p this morning after it heralded a year of "significant progress" with rises in revenue, profit and earnings. In its results for the year ending 31 March, Mitie reported a 5.8 per cent rise in revenue to £2.3bn [...]
Agents bet on UK housing market activity boost after General Election May 17, 2015 Agents are expecting housing market activity to pick up following a decisive outcome to the General Election. “Now the months of uncertainty are finally over, we are already witnessing confidence returning to the market with buyers and sellers in a more informed position to make the decisions they were putting off,” said Andrew Weir [...]
Best of the Brokers for 18 May 2015 May 17, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH LAND Numis reiterated its “add” rating for the London-based property management company. The broker said London offices are likely to continue to perform for at least the next couple of years, but warned that as market rents test ever higher levels the [...]
Sleepwalking to Brexit: The stakes are too high to be complacent about the risks May 17, 2015 Expect the unexpected could be considered the new mantra for UK politics, just like think the unthinkable has become an increasingly common refrain for markets. The shock Conservative majority and stunning gains of the SNP left Paddy Ashdown eating his hat, Alastair Campbell eating his kilt, and David Cameron well-advised to dust off the “Better [...]