UK property market: Redrow share price rises as it posts 91 per cent profit increase September 2, 2014 Despite recent signs of slowing growth in house prices, housebuilders are still riding a healthy property market wave – Redrow is the latest to post stellar results, with a 91 per cent rise in profits. Help to Buy helped the housebuilder make a record £132.6m pre-tax profit for the year to June, compared with £69.4m [...]
Size of Help to Buy mortgages getting smaller September 1, 2014 The average size of a Help to Buy mortgage is falling, with the typical loan now nearly £10,000 lower than the limit imposed by one of Britain’s biggest banks. According to Mortgage Advice Bureau (MAB), the average Help to Buy loan now runs to £140,138, down by more than £6,000 from the average in May. [...]
Housebuilder Berkeley: The London property market is back to “normal” September 1, 2014 Tony Pidgley, the charismatic founder and boss of Berkeley Group, is famous for calling the top of the housing market during the downturn. Today, the London housebuilder holds its Annual General Meeting – and in a trading statement this morning, Pidgley said the market is "stabilising": Since the start of the current financial year, the [...]
City closes in on prime West End property values August 31, 2014 HOUSE values in the City of London are catching up with the West End, while Dockland prices are suffering because of oversupply, research shows. Analysis from high-end real estate agent Beauchamp Estates reveals the average price of new or second-hand properties in the City has climbed to £739,546 for the last 12 months, compared to [...]
Emaar to launch biggest listing in Dubai since financial crisis August 31, 2014 THE OWNER of the world’s largest shopping centre is to float in Dubai next month in what would be one of the largest equity sales in the Middle East since the financial crisis. Emaar Properties said yesterday that it expects to launch an initial public offer of at least 15 per cent of its shopping [...]
City Moves for 01 September 2014 | Who’s switching jobs August 31, 2014 Cushman & Wakefield James Beckham has been hired to lead the property adviser’s London capital markets practice. He joins from JLL, where he was an international director in its City investment business. Beckham built King Sturge’s City of London capital markets business in the late 1990s. De La Rue Martin Sutherland has been appointed chief [...]
London’s house price surge hits the buffers as demand declines August 28, 2014 The housing market resurgence that started last year appears to be slowing down after rapid price hikes, with the higher valuations increasingly putting off potential buyers, especially in London. A set of data released this morning by Hometrack shows just a 0.1 per cent month-on-month increase in August across the country. London prices were completely [...]
Foxton’s prepares for housing market slowdown in London August 27, 2014 Investors fled Foxton’s shares yesterday after the London property agent warned that it expected a slowdown in the housing market in the second half of the year. The company, which floated in September last year, said measures introduced by the Bank of England to temper mortgage lending and the expectation of a hike in interest [...]
London Report: Petrofac buoys FTSE but poor store data weighs on market August 27, 2014 BRITAIN’S top equity index yesterday climbed to its highest closing level in nearly two months, with oil and gas services company Petrofac buoyed by positive broker comments. However, supermarkets J Sainsbury and Tesco underperformed after weak sales data. The FTSE 100 index ended up 0.1 per cent, or 7.90 points, at 6,830.66 points. Petrofac rose [...]
Chinese property company offers £200,000 discount on homes to Alibaba users August 27, 2014 Shop on Amazon and you might receive discount on a box of wine. Use Alibaba, and you could get money off mortar. Chinese builders need new methods to attract buyers: the country has enough floor space on sale to satisfy four years of demand, and over 90 per cent of households own the bricks and mortar [...]