Crest Nicholson’s 2014 results put it in a strong position for year ahead January 27, 2015 PROPERTY developer Crest Nicholson reported a 21 per cent increase in revenue during its annual results for the year ending 31 October to £636m which translated to a 34 per cent increase in profit before tax of £116m. The company said the prospect of strong cash generation over the next three years meant it would [...]
Rightmove and Zoopla gaining after rival’s launch brushed off January 27, 2015 PROPERTY portal Zoopla was the darling of the FTSE 250 again yesterday, soaring 12 per cent after rival OnTheMarket’s website launch on Monday was widely seen as a damp squib. Many had worried that OnTheMarket (OTM), which bans participants from advertising properties with more than one rival website, would be bad news for Zoopla, pushing [...]
Brooks sees off volatility to cap strong growth January 27, 2015 BROOKS Macdonald Group claims it has successfully weathered the market turbulence of 2014, after a 6.15 per cent growth in discretionary funds under management during the six months to 31 December met management expectations. The Aim-listed wealth management group recorded £6.95bn in discretionary funds under management at the end of the last quarter, with quarterly [...]
Zoopla share price rises 12 per cent with OnTheMarket disappointing as estate agents stay loyal to rivals January 27, 2015 Agents' Mutual online property portal OnTheMarket has got off to a bit of a soft start, largely thanks to estate agents sticking with its rivals Zoopla and Rightmove. Investors took note with Zoopla's share price closing up as much as 12.1 per cent to 190 pence in late afternoon trading. Meanwhile – Rightmove's share price was [...]
Foxtons share price falls as revenues drop 12 per cent January 27, 2015 The figures Not a good day for Foxtons shareholders. Shares fell 2.4 per cent in early trading as the upmarket estate agent – known for its trendy Minis and even trendier, bar-like offices – has posted fourth quarter results showing revenues fell 12 per cent in the three months to the end of December. That was [...]
How London’s brutalist Centre Point tower is being turned into luxury flats with a view January 26, 2015 Both reviled and admired, London’s Centre Point tower at the east end of Oxford Street has stirred controversy ever since it was first erected in 1966. A beehive of concrete and glass, its brutalist-style was regarded as an eyesore on the skyline and the fact that a building of its height (it is 117 metres [...]
OnTheMarket vs Zoopla and Rightmove: We need a buyer-friendly housing market – Bottom Line January 26, 2015 It’s easy to sympathise with the fears of estate agents concerned with a property market increasingly cornered by the duopoly of Rightmove and Zoopla. But OnTheMarket seems to have missed the point of why these sites have become popular – ie. by serving the needs of buyers and sellers. OnTheMarket’s troublesome rule that bans its [...]
Zoopla share price soars as OnTheMarket lands with a thud January 26, 2015 Zoopla shares soared 10.4 per cent yesterday as the launch of rival property portal OnTheMarket (OTM), a site backed by a number of estate agents which has weighed on Zoopla shares for months, underwhelmed investors and resolved confidence in Zoopla. “In our mind the much awaited launch of Agents’ Mutual’s OTM has not lived up [...]
Massar Solutions IPO: Book closes on first Abu Dhabi float since 2011 January 26, 2015 The book closed yesterday on the float of Massar Solutions, a United Arab Emirates vehicle rental and fleet management firm listing 40 per cent of its shares on Abu Dhabi’s bourse. The float, which is the first on the emirate’s stock market since Eshraq Properties listed in 2011, follows a strong year of Middle Eastern [...]
OnTheMarket vs Zoopla: Property portals at war as estate agents’ website enters the market January 26, 2015 A war of words broke out last night as the boss of property portal Zoopla labelled OnTheMarket – a new challenger in the property portal space – as “a regressive business model trying to stifle innovation”. The new property sales website, mutually owned by estate agents including Savills and Knight Frank, is being launched this [...]