Foxtons defies market cooling to report profits March 11, 2015 FOXTONS recorded strong growth in pre-tax profits for 2014, it was revealed yesterday, despite a sharp downturn in the second half. The London estate agent said the first six months of last year were characterised by strong property sales, with transactions at their highest levels since 2008. The second half saw a marked cooling in [...]
UK house prices accelerate as drop in London moderates March 11, 2015 The fall in London house prices is moderating, an influential study of property surveyors showed today. The proportion of surveyors reporting falling prices in the capital outweighed those reporting a rise by a margin of 28 per cent in February, the Royal Institute of Chartered Surveyors (RICS) said. By contrast, the net balance seeing prices fall [...]
Mipim 2015: How many people from your local council are attending property’s annual knees-up in Cannes? March 11, 2015 This week, 25,000-odd property developers, agents and investors have descended on Cannes for a week of networking, deal-making and partying at Mipim, property's annual get-together. The event is notorious for its boozy parties, as delegates toast their success in the bars lining the seafront, aboard yachts in the town's marinas, or in villas in the [...]
London house prices: Foxtons share price dips as slowing luxury market takes its toll March 11, 2015 The figures Upmarket estate agent Foxtons had a topsy-turvy year in 2014, with the gradual slowing in London house price growth dragging down its share price. Earlier in the year when prices were still rising fast the skies were only blue. Chief executive Nic Budden said it best: last year was a year of "contrasting [...]
Colliers sees no end in sight for market bull run March 10, 2015 REAL Estate advisory company Colliers International said yesterday there was no end in sight to the property market’s bull run. But the timing of interest rate hikes and geopolitical risks could threaten the current cycle. Companies such as Land Securities have questioned how long the current upturn in the commercial market can last, following a [...]
Canada’s Ivanhoe Cambridge snaps up City property for £170m March 10, 2015 CANADIAN pension fund Ivanhoe Cambridge yesterday bolstered its presence in the UK after snapping up 3 Minster Court, off Fenchurch Street, in the City for £170m. The real estate arm of Caisse de Depot et Placement du Quebec – one of Canada’s leading fund managers – has been on the hunt for prime assets to [...]
Plain packaging could put Britain’s reputation for intellectual property at risk March 10, 2015 It’s an acronym that might be thought to only excite lawyers, but the importance of IP (intellectual property) to the economy cannot be overstated. If we want a business environment that promotes trade and investment, it’s crucial that we’re seen as a global leader in this area. Thankfully, the UK has many strengths. We have [...]
Russian no-show – but Mipim 2015 shows the UK property sector is back on form March 10, 2015 It's that time of year again: Mipim is the European networking event and conference for global property investors. Sound dull? Well, after the film festival it's the largest event held in Cannes, with over 25,000 attendees. Three years ago, it reached the front pages when investigators arrested the Tchenguiz brothers on board their private [...]
Spanish house prices climb at their fastest pace for six years March 9, 2015 House prices in Spain are rising at their fastest rate since 2008, official statistics showed yesterday. Residential property prices climbed by 1.8 per cent in the final three months of 2014 compared with the same period a year earlier, according to Spain’s national statistical office. For 2014 as a whole, prices were 0.3 [...]
Bijoux – that is, tiny – flat in Mayfair rented in record time March 9, 2015 YOU COULD probably just about swing a cat in a one-bedroom Mayfair flat that was yesterday let at record speed. Boasting just 301 sq ft, the “bijoux” flat in Pollen Street, between Hanover Square and Regent Street, took just 40 minutes to let for up £1,560 per month. The new tenant, an “executive in the hospitality [...]