Put your house on it …price boom ends October 8, 2014 HOUSE price growth slowed in September, an influential report from Halifax showed yesterday, adding to evidence that activity in the UK’s rampant property market was moderating. Prices rose 0.6 per cent last month and 9.6 per cent in the past year. But this still-substantial growth marks a continued slowdown from the annual growth of 10.2 [...]
City Moves for 9 October 2014 | Who’s switching jobs October 8, 2014 Fidelity Worldwide Investment Peter Horrell has been appointed managing director of the investment firm’s UK business. He has spent the past 24 years at Barclays, where he was most recently chief executive of wealth and investment management. Sovereign Land The retail and leisure developer and asset management firm has appointed Luke Winstanley as senior analyst. [...]
Boost your budget when buying abroad October 8, 2014 Buying a property overseas is a dream for many Britons, and turning it into reality will take a lot of time and effort in finding the right property for the right price, and working through the potential language barriers to get a good deal. But with property prices in some areas of Spain still around [...]
Tesco suspends Kevin Grace: Fifth executive leaves over £250m profit miss October 7, 2014 Tesco has suspended a fifth director over a shock discovery last month of an error in its accounts which meant first half profits were overstated by £250m. Kevin Grace, Tesco’s group commercial director, was asked on Monday to step aside as Deloitte and Freshfields carry out their investigation into what went wrong in Tesco’s accounts. [...]
House prices to cool off after mortgage dip October 7, 2014 MORTGAGE lending fell significantly over the past three months, according to the Bank of England, suggesting the housing market will cool further. This is the first negative figure since the final three months of 2011 and marks a significant reversal in housing trends. House prices boomed over summer and are expected to grow 17 per [...]
Property in London: Is it a safe asset? October 7, 2014 Base rate hikes and a strong pound will dent prices, says Yogi Dewan THE EASY money in property markets was made a long time ago. That said, real estate remains the ultimate safe haven for many investors, as they consider it to be a better alternative to investing in global equities, government bonds or other [...]
Property returns to record high October 6, 2014 BRITAIN’S commercial property market is on track to deliver its strongest returns in 25 years, thanks to rising confidence in the UK economy, new research from M&G Real Estate shows. In a report published yesterday, the real estate fund manager hailed 2014 as an “exceptional year”, fuelled by increased liquidity, rising investor confidence and improving [...]
Student housing deals to reach record £2bn by the end of 2014 October 6, 2014 THE STUDENT housing market is set for a record year after research out yesterday predicted that over £2bn of assets will go under offer in the final quarter of the year. Property experts JLL said £220m of student properties were under offer at the end of the third quarter, with a further £360m being marketed [...]
City Moves for 7 October 2014 | Who’s switching jobs October 6, 2014 Brooks Macdonald International (BMI) The investment manager has appointed Darren Zaman as chief executive of its offshore business. He was chief executive of DPZ Capital, a wealth management firm acquired by BMI in April. Zaman has also held roles at HSBC Investments and Le Masurier James and Chinn. BTMU Masato Miyachi has been promoted to [...]
As the World Bank cuts its GDP forecasts for China, is the country’s growth story ending? October 6, 2014 Craig Botham, emerging markets economist at Schroders, says Yes. The investment-led, credit-fuelled model that generated double digit growth is gone, and it’s not coming back. The economic stresses caused by annual credit growth of 30 to 40 per cent, and a 47 per cent share of investment in GDP, are well-documented and recognised – even [...]