Latin America investing: Politics counts – Investment Comment August 20, 2014 This year has proven that, when it comes to emerging markets, politics matters. The recent wave of elections in India, Colombia, and Indonesia, alongside the 2012 vote in Mexico and the upcoming Brazilian general elections, have been (and will be) crucial for countries that need serious structural reform to lay the foundations for sustainable long-term [...]
Mortgage lending rises 15pc to its highest level since 2008 August 20, 2014 Gross mortgage lending rose to £19.1bn in July, the Council of Mortgage Lenders (CML) said today – the highest monthly figure since August 2008, when it stood at £19.3bn. The figure rose 17 per cent from £16.7bn in July 2013, and seven per cent from June's £17.9bn. The number of property transactions also increased, by [...]
Persimmon share price up as housing market demand boosts profits August 19, 2014 Persimmon became the latest housebuilder to announce another leap in profits yesterday as rosier housing market conditions helped lift sales rates and prices in the first half of the year. Britains’s largest housebuilder completed 6,408 property sales in the six months to 30 June, up 28 per cent on last year. The average selling price [...]
London house prices ready to break through £500,000 mark August 19, 2014 House price growth dipped slightly in June, while the average property in the capital climbed to just shy of £500,000, according to figures released yesterday. Prices across the UK as a whole still rose in the year to June, up by 10.2 per cent, but the figure was a slight drop from May’s 10.7 per [...]
Next generation finance: How London can cement its leadership in fintech August 19, 2014 The launch of Innovate Finance, a new body dedicated to supporting fintech (or financial technology) in the UK, at Canary Wharf this month highlighted London’s ability to become the global centre of the sector. They say there is no “fin” in San Francisco and no “tech” in New York – but there is certainly both [...]
Persimmon profits rise on UK housing boom August 19, 2014 Persimmon is the latest housebuilder to benefit from the UK's housing market recovery, reporting a sharp rise in profit before tax for the six months to 30 June. Pre-tax profit went up by 57 per cent to £208.9m for the period, compared to £132.9m the year before. New home sales went up by [...]
Bovis Homes share price up as housebuilder delivers record property sales August 18, 2014 Bovis Homes revealed a 166 per cent leap in first half pre-tax profits as Britain’s buoyant property market helped the housebuilder to sell a record number of homes. The FTSE 250 company, which builds most of its homes in the south of England but outside London, completed 1,487 property sales in the six months to [...]
Deepening concerns for Chinese economy as 64 cities report falling property prices in July August 18, 2014 The Chinese property market’s slowdown is starting to alarm analysts, with more cities now reporting falling prices than at any time since at least a decade ago. Official figures showed that prices were falling in 64 cities during July, against only two cities where prices were rising. Prices in Beijing also dropped for the first [...]
City Moves for 19 August 2014 | Who’s switching jobs August 18, 2014 Turner & Townsend The programme management and construction consultancy has appointed Martin Greenhalf as director in its commercial development project management team. He joins from Sweett Group, where he was a director of project management. TSB Bank David Fenton has been appointed chief economist at the bank. He joins from RBS, where he was most [...]
CNBC Comment: Why Germany risks a property bubble August 18, 2014 HEAR the words “London property”, and “bubble” is rarely far behind. House prices in the capital rose by 20 per cent in the year to May – although last week’s Rics indicator showed that the market is now pausing for breath, as it responds to warnings over tougher mortgage standards and the expectation of higher [...]