Experts have predicted house prices will drop for the first time since 2012, with London hit hardest June 9, 2016 Experts are predicting UK house prices will drop for the first time since 2012 in the coming months. According to a survey conducted by the Royal Institution of Chartered Surveyors (RICS), members, UK house prices will drop rather than rise in the next three months. London is expected to be the hardest hit with 43 per [...]
Home lending slowed in May as the EU referendum cast a shadow over the property market June 9, 2016 Home lending slowed in May ahead of the EU referendum as political uncertainty cast a shadow over the property market. There were 65,113 house purchase approvals in May, down 1.7 per cent from 66,250 in April – a 12-month low. This decline means house purchased approvals have fallen by more than 10 per cent over [...]
Sir Philip Green hits back at accusations that he ruined a deal to save BHS June 8, 2016 Retail tycoon Sir Philip Green today hit out at accusations that he intervened in a deal that could have saved BHS. Speaking to CityAM, a spokesperson for Green said: "Sir Philip Green provided significant funding to BHS to give it every chance of success under new ownership. He would have welcomed any genuine rescue plan [...]
Londoners are now spending 70 per cent of their income on rent and bills June 8, 2016 Londoners are now shelling out a staggering 70 per cent of average income on their rent and essential bills, new data shows. Analysis from Portico London estate agents shows that for three and a half days of a Londoner's working week earns them enough to pay for rent, as well as taxes, housing costs and [...]
Rental supply fell in May as stamp duty hike scared buy to let landlords from the market June 8, 2016 The government's stamp duty hike on second homes started to take its effect on the rental market in May as buy to let landlords were put off from buying, reducing the number of properties available to rent. There was a 15.4 per cent drop in new rental property listings in May compared to April, according to [...]
The rental market is starting to cool off a bit June 8, 2016 The rental market cooled slightly over the past few months as the rate of increase in prices slowed – although rents still rose in the three months to May 2016. Rents agreed on new tenancies in the UK over the past three months were up 4.4 per cent compared to the same period last year, [...]
Estate agents Belvoir have revealed plans to buy-up Northwood for up to £22m June 7, 2016 Estate agents Belvoir have revealed plans today to buy-up Northwood for up to £22m. The acquisition is partly being funded by a placing of new ordinary shares in Belvoir at the price of 112p per share, hoping to raise £2.5m. The placing is being done through an accelerated bookbuild process to be launched immediately. Cantor Fitzgerald Europe is [...]
Here are the very best quotes from Mike Ashley’s appearance at the business select committee June 7, 2016 Mike Ashley put in an explosive performance appearing in front of MPs today to defend the working practices at Sports Direct. The Twittersphere went wild as Ashley not once, but twice, denied that he is Father Christmas. But what else did Ashley, who only rarely puts in media appearances, say? Here are some of the very [...]
Mike Ashley admits he can’t control Sports Direct June 7, 2016 Mike Ashley has spoken candidly about the working conditions at Sports Direct, saying he cannot know everything occurring in his company and that some practices were unacceptable. Ashley said: "I can't be responsible for everything that goes on at Sports Direct." "This is a process of growth, and the growth has been too big." Ashley said the success of [...]
Online shopping drove retail sales in May as high street stores sufferred June 7, 2016 Online shopping drove retail sales in May, as the high street faced the prospect of permanently declining footfall and the collapse of both BHS and Austin Reed. Growth in non-food products was up by 13.7 per cent in May year-on-year, a figure higher than both the three-month and 12-month averages of 9.9 per cent and 12.2 [...]
