Galliford Try awarded £360 million Silvertown Way development: Galliford Try has been awarded a contract by the Greater London Authority to build the £360 million Silvertown Way development in Canning Town.
Stamp duty changes put brake on soaring sales of £1 million homes: Sales of homes worth more than £1 million rose by more than 25% last year, but the Chancellor’s changes to the stamp duty system mean that the level is unlikely to be achieved in 2015.
The UK reported a current account deficit of £26.50 billion in 1Q 2015, compared to a revised current account deficit of £28.90 billion in the previous quarter. Market expectation was for a current account deficit of £24.00 billion.
In 1Q 2015, on a QoQ basis, the final gross domestic product (GDP) registered a rise of 0.40% in the UK, compared to an advance of 0.60% in the previous quarter. The preliminary figures had indicated a rise of 0.30%. Market expectation was for GDP to rise 0.40%.
Prime London rents exceed £100 a day: Tenants in London’s most upmarket neighbourhoods are paying more than £100 a day to rent two-bedroom flats, as increasing numbers of students and company rentals fuel demand for small homes in central locations
The consumer confidence recorded a rise to 7.00 in the UK, in June, compared to market expectations of a rise to a level of 2.00. In the prior month, the consumer confidence had registered a level of 1.00.
UK net consumer credit rose more than expected in May
Net consumer credit advanced £1.72 billion in the UK, in May, higher than market expectations for a rise of £1.10 billion. In the previous month, net consumer credit had registered a revised rise of £1.71 billion.
U.K. mortgage approvals unexpectedly fell in May following a surge in April to their highest level in more than a year.
Approvals dropped to 64,434 from a downwardly revised 67,580, the Bank of England said in London Monday. Economists had forecast a figure of 68,800, according to a Bloomberg survey.
Recent surveys suggest record-low borrowing costs and improving household finances are reasserting themselves in the housing market, while the pressure on prices is being exacerbated by a continuing shortage of property for sale.
The BOE said net mortgage lending -- gross loans less repayments -- was 2.1 billion pounds ($3.3 billion) in May compared with 1.7 billion pounds the previous month. Net consumer credit totaled 1 billion pounds. The effective interest rate on new mortgages fell 5 basis points to 2.59 percent. The rate on outstanding secured loans dipped 1 basis point to 3.11 percent.
Right to rent: all landlords must check immigration status or face £3,000 fine: Landlords will face £3,000 penalties for failing to monitor the immigration status of their tenants or lodgers, as part of “right to rent” requirements that will apply across England within months.
Sugar cashes in on Burberry site: Lord (Alan) Sugar has sold Burberry’s old flagship store on London’s Haymarket for £65 million, to a wealthy Qatari investor, netting a healthy profit for his Amsprop group.
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