The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Post-election house building growth slows: House building grew at one of the weakest rates for more than two years in July as the post-election bounce showed signs of fading, according to figures.
High Court blocks Tory plan to slash levy for affordable housing: An “insane” Government planning policy that could have allowed luxury landlords to escape more than £1 billion a year in affordable-housing payments has been quashed by the High Court.
Dubai plans world’s tallest residential tower: Not content with having the world’s tallest skyscraper, biggest shopping centre and largest artificial islands, Dubai announced that it plans to build the highest residential building
UK construction PMI fell surprisingly in July The construction PMI in the UK registered an unexpected drop to 57.10 in July, compared to a level of 58.10 in the previous month. Market anticipation was for the construction PMI to advance to 58.50.
UK house prices rose as expected in July On an annual basis, in the UK, the non-seasonally adjusted house prices advanced 3.50% in July, compared to an advance of 3.30% in the prior month. Market expectation was for house prices to climb 3.50%.
Homes in the majority of places in England and Wales are now more affordable than they were in 1997 thanks to falling inflation, low interest rates and rising wages. For the average householder their ability to buy a home has improved over the last 18 years, according to research from Hamptons International
Axa Real Estate raises €2.9 billion for its ninth European debt fund: Axa Real Estate Investment Managers said it has raised €2.9 billion (£2.04 billion) for its ninth debt fund, making it one of the largest commercial real estate (CRE) senior loan funds in Europe.
Almacantar to Shell out £550 million on iconic office: Centre Point Owner Almacantar has bought part of Canary Wharf Group and Qatari Diar’s controversial Shell Centre scheme on London’s South Bank, which faced opposition last year for obstructing views of the Houses of Parliament.
UK manufacturing PMI advanced in July The manufacturing PMI in the UK climbed to 51.90 in July, higher than market expectations of an advance to 51.60. The manufacturing PMI had recorded a level of 51.40 in the previous month
Landlords seek migrants crackdown details Jail threat seen as response to scenes of chaos in Calais
London land rush Foreign investors have embarked on a flurry of land-buying in central London, pushing dealmaking volumes to their highest level since the global financial crisis. Buyers spent GBP1.8bn on land for property development in central London in the second quarter of 2015 - up 118 per cent year on year.
The number of completed house sales made by first-time buyers in June fell by 27% year-on-year, the latest First Time Buyer Opinion Barometer from Your Move and Reeds Rains has revealed, "as the political aftershocks of the general election continue to unsettle the housing market". The figures show a total of 21,100 transactions during June, down 7% from May (22,700) and a drop of 27.2% year-on-year, while the average purchase price (£154,041) fell by 0.6% on a monthly basis. However, this suggests that affordability has marginally improved, as does the finding that the average mortgage size (£128,115) is 1.1% lower than in May, arguably helped by the average deposit rising to £25,926, up 2.1% over the same period. "First-time buyer numbers have had a disappointing month, with little sign of the anticipated post-election bounce," said Adrian Gill of Your Move and Reeds Rains. "However, deposits continue to rise - a positive reflection on the growth of wages and home values. More positively still, the surge in high LTV house purchase approvals [additional figures from e.surv revealed that high LTV approvals rose by 18% between May and June, and by 6% compared with June 2014] should mean a rise in completions in the coming months. It's a matter of waiting for the emerging signs of growth to filter through the property chain."
U.K. business confidence jumps as profit and revenue growth rises: British business confidence has climbed for the first time in over a year, new survey figures released this morning reveal
Jump in skilled non-EU workers coming to U.K.: There has been a sharp rise in the number of non-European Union finance professionals coming to the U.K., new figures show this morning, highlighting the importance of firms’ access to skilled non-EU workers.
Interest rates: economists and homeowners brace for Super Thursday: Britain’s mortgage borrowers will be warned this week to brace themselves for higher interest rates on what City of London traders have dubbed “Super Thursday”.
Bank lending to business forecast to rise in 2015: Business lending by Britain’s banks remains on track to rise in 2015, despite falling sharply in June, according to a new forecast from the EY Item Club.
Tories plan U.S.-style trust to entice private sector to plug £130 billion infrastructure gap in London: The Conservatives are plotting a U.S.-style trust to entice the private sector to plug a £130 billion infrastructure gap in London
Property title fraud claims on the rise: Property title fraud claims have hit a three-year high and could rise even further if the Bank of England increases interest rates at the end of the year
London waterfront to take on new look with Italian backing: A property company backed by Italy’s best-known business dynasty is to redevelop a key segment of the London waterfront.
House prices driving ahead but government scheme at a standstill: The housing market is driving forward, with monthly home loan approvals up 6.5% in June in the wake of the general election, the Bank of England said this week.
New home registrations up 12% in three months to reach highest level since 2007 - and the North West sees the biggest surge: The number of new homes registered to be built has reached its highest level for eight years according to the latest set of comprehensive data from an industry body
Council warns against attempt to build flats on FT’s riverside site: A London council has warned Pearson and Nikkei, the new Japanese Owner of the Financial Times, that the newspaper’s landmark building on the Thames must not be redeveloped for luxury flats
Rent rises soar above stagnant inflation: Britain’s renters suffered another rise in bills in June, making it more difficult for them to save the hefty deposits needed to become homeOwners.
Shares tumble for estate agent Countrywide after it blames General Election for ‘depressing’ U.K. housing market: Shares in estate agent Countrywide tumbled after it said the General Election ‘depressed’ the housing market across Britain.
Boom in building of retirement homes: Housebuilders registered 2,337 homes in England specifically designed for older people in the first six months of the year, more than for the whole of last year