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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.
UK current account deficit dropped in 1Q 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.
UK GDP rose as expected in 1Q 2015 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
UK consumer confidence climbed in June 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.
Building boost sparks fresh fears of rate rise: Britain’s growth rate is set to be revised up this week after an about-turn on official estimates of the performance of the construction industry. The figures will stoke the debate about when the Bank of England will start raising interest rates.
Britain’s newest property problem child - and it’s no longer London: Residential property values in Oxford have surged by £41,700 on average over the past year, nearly four times higher than gains in the wider U.K. and a whisker above the £38,900 house price rise registered in London.
City of London Corporation to embark on mass housebuilding: The City of London Corporation is to embark on its first major housebuilding programme for half a century, in an attempt to help ease what Square Mile employers say is the biggest challenge they face: housing for their staff
Network Rail prepares ground for £1 billion sale of its properties: The beleaguered Network Rail has hired bankers at Rothschild to look into selling a commercial property portfolio that could be worth over £1 billion, The Independent can reveal
Oxbridge home prices soar as buyers wise up: Oxford had the biggest rise in house prices of any city in Britain in the past year, according to the residential analyst Hometrack.
UK CBI distributive trade survey's retail sales balance declined in June The CBI distributive trade survey's retail sales balance registered a drop to 29.00% in June, in the UK, compared to a level of 51.00% in the prior month. Markets were expecting the CBI distributive trade survey's retail sales balance to drop to a level of 35.00%.
Household debt at its highest level in five years: The amount of debt taken on by British families has jumped to its highest level in almost five years, bank figures showed.
UK BBA mortgage approvals climbed in May BBA mortgage approvals in the UK climbed to 42.53 K in May, lower than market expectations of an advance to 43.35 K. BBA mortgage approvals had recorded a revised reading of 42.02 K in the previous month.
Great work MY21, keep up the good work. People like yourself is why I use this site, thank you for your commitment. Held this share at 2900 and sold today at 3450, as the market is very optimistic currently and I felt a little uneasy about such a quick rise and felt the good news had been fully priced in. Welcome any views about valuation and justification of this share, and similars (crest nicholson, telford homes etc).
Crown Estate to return £285 million to the public purse after record year: The Crown Estate today announced another year of record profits thanks to the regeneration of its vast estate at the heart of London’s shopping district plus its growing offshore wind business.
Queen Elizabeth’s commercial property empire worth £11.5 billion: The Queen’s commercial property empire has nearly doubled in value over the last decade, and last year alone delivered £285 million in profits into the Treasury’s coffers.
Bank of England hawk says prepare for U.K. rate rise: The Bank of England should be ready to raise borrowing costs as early as August, a member of its Monetary Policy Committee said, in a sign that the body may soon face a split over the timing of the first rate rise since the financial crisis.
West End property is the jewel in Crown Estate: Soaring retail and office rents in London’s West End have helped the business established to manage Crown property to another record year.
Banks target over-55s with cheaper loans on buy-to-let: Banks are looking to cash in on new pension freedoms by flooding the mortgage market with cheap buy-to-let loans. The number available has jumped almost 15% in two months since George Osborne’s reforms came into effect, according to Moneyfacts, the data analyst.
UK balance of firms reporting total order book above normal eased unexpectedly in June The balance of firms reporting total order book above normal registered an unexpected drop to -7.00 in June, in the UK, compared to market expectations of a rise to 2.00. In the previous month, the balance of firms reporting total order book above normal had recorded a level of -5.00. UK CBI trends selling prices registered a drop in June In June, CBI trends selling prices fell to a level of -7.00 in the UK. In the prior month, CBI trends selling prices had recorded a reading of 2.00.
Empiric buys in Liverpool and Stoke-on-Trent: Empiric Student Property said it has bought the freeholds of a portfolio of seven properties in Liverpool and Stoke-on-Trent for £22.8 million as the company continues its buying spree.