George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
NHS property sale could raise £7.5 billion to help pay off its growing deficit and free up space for housing: The NHS is set to sell off or redevelop land and property worth billions of pounds to help pay off its growing deficit and bring about a radical transformation of the way healthcare is delivered.
Bank of England Chiefs rush to quash talk of interest rate cut: The split among policymakers at the Bank of England widened as the Governor and one of his deputies said that the Bank’s first move on interest rates was likely to be upwards, only a week after its Chief economist had mooted a cut.
House prices rose by just 5.9pc year-on-year in the first quarter of 2015, against 8.3pc in the previous quarter, according to Nationwide.
Barratt Developments chief executive Mark Clare has stepped down after nine years in the role, to be replaced by finance director David Thomas. Clare will leave the company on 1 July, leaving the group in fine fettle, with recent interim profits up by over 70%, well ahead of expectations.
Shop prices are falling at a record pace: Prices in Britain’s shops fell at the sharpest rate since records began in February, according to the Office for National Statistics
Liquidity storm could throw U.K. into chaos, Bank of England warns: The Bank of England has warned that a global liquidity storm could endanger financial stability if investors suddenly demanded their money back, adding that the threat of a Greek default posed “significant risks” to the U.K.
Plans for 220,000 new homes on green belts: More than 200,000 houses are planned for England’s green belts and the number has nearly tripled in some areas in less than two years, a study has found.
Young Britons get stuck on housing ladder: Soaring house prices and stricter lending conditions mean that homeowners will move house less often than their parents.
Retail sales volumes fell short of market expectations, according to the results of March's monthly distributive trades survey from the Confederation of British Industry (CBI). A total of 34% of respondents said volumes were up on a year ago, and 15% said they were down, giving a rounded balance of +18% in the total sales index, below consensus forecasts of +20%. Sales recovered following a tough month in February for retailers, when the total sales index hit 1%, and CBI's director for economics, Rain Newton-Smith, said she expected solid growth to continue through Easter. The average reading in the fourth quarter of 2014 was +40%. "The outlook ahead is looking bright, with household incomes buoyed by zero inflation and improving pay packets, which will continue to encourage spending," the CBI director also said. Nonetheless, at +21%, and down from a reading of +27% in the prior month, expectations for sales in April were at their lowest since July last year. Sales were flat among grocers, albeit after a sharp drop (-20%) in February. "However, the retail sector isn't in the clear yet, with some companies, especially food retailers, still feeling the heat from stiff price competition," Newton-Smith added. Commenting on the figures, Dr.Howard Archer, chief UK+European economist at IHS Global Insight said: "Where any deflation could become a problem for the UK is if it caused employers to either hold off from granting pay increases or award very small ones [...] it could squeeze consumers significantly when inflation starts to move back up which seems likely later this year (especially if inflation rises markedly rather than gradually as generally expected). Nonetheless, Dr.Archer added: "it is likely that the increasing tightening of the UK labour market will ensure that pay does move up."
Figures from the BBA's latest High Street Banking report have revealed that gross mortgage lending has fallen on an annual basis, totalling £9.6bn in February, 17% lower than the same month a year ago. Approval volumes were also lower year-on-year - house purchase approvals were 20% lower, while approvals for remortgaging and other purposes were down 16% and 31% respectively. However, despite poor annual figures, there are signs of improvement on a monthly basis, with overall approval volumes being slightly higher than in January. This is a sign that the housing market is beginning to improve, said Richard Woolhouse of the BBA, adding that "we're seeing stronger demand for mortgages as consumers take advantage of the competitive deals currently available". The monthly improvement is reflected in official transaction data from HMRC, which revealed that although the figure (100,510) is down by 7.9% year-on-year, it's an increase of 2.5% from January.
Royal Bank of Scotland has confirmed that it expects to make $3.2bn from the partial sale of shares in US subsidiary Citizens. RBS sold 24.7% of Citizens at a public offering price of $23.75 per share.
Bank of England plays down prospect of interest rate cut: The Bank of England is making a concerted effort to play down the possibility that it will respond to inflation falling to zero with a fresh cut in interest rates. Three members of Threadneedle Street’s monetary policy committee separately said that they thought inflation – which is likely to turn negative next month – would bounce back soon.
Northern blocks build on sales growth: The Government’s northern powerhouse message is paying off for the commercial property market, with big sales in the North-west of England contributing to £15 billion of U.K. turnover in the first quarter.
Museum looks to lay its hat in Smithfield: The Museum of London is expected to announce that it wants to move from the Barbican to the City’s Smithfield Market months after a developer lost a battle to convert the historic site into shops and offices.
UK BBA mortgage approvals recorded a rise in February In the UK, BBA mortgage approvals recorded a rise to 37.31 K in February, compared to a revised reading of 36.52 K in the previous month. Market anticipations were for BBA mortgage approvals to advance to a level of 36.65 K.
* BoE's Miles says rates more likely to rise than fall - FT * Miles sees "striking" absence of deflation pressure * Shafik and Forbes expect low inflation to be temporary * In contrast, chief economist flagged rate cut risk (Adds detail from Miles interview, wraps in other policymaker comments) By David Milliken LONDON, March 25 (Reuters) - Three Bank of England policymakers said on Wednesday they saw little chance of a cut in interest rates in the face of tumbling inflation, distancing themselves from the position of the central bank's chief economist. BoE chief economist Andy Haldane surprised some observers by saying last week that a recent sharp slowdown in inflation meant the bank was as likely as not to cut rates - a view previously rejected by BoE Governor Mark Carney. David Miles, a member of the BoE's Monetary Policy Committee who repeatedly voted for more stimulus in 2013, said in an interview with the Financial Times that deflationary pressures were "striking by their absence" in Britain. British consumer price inflation hit an all-time low of zero percent last month, but the BoE has forecast that any foray into negative territory will be fleeting as falling unemployment and a gradual pick-up in wages should ensure strong consumer demand. This contrasts with the situation in the euro zone, where earlier this month the European Central Bank launched a trillion-euro programme of bond purchases to bring sub-zero inflation closer to its target of just under 2 percent. Miles said he could imagine the BoE raising rates while inflation was still significantly below its own 2 percent target because of the long time-lag that interest rate changes need to affect the economy and dwindling spare capacity. "It is more likely than not that the next move in (interest rates) will be up. Quite when that will come will depend on how the data play out," he said.
House price optimism rebounded in February as inflation continued to fall and the chances of a base rate rise faded, according to Haifax. Its latest confidence tracker shows those confident about house prices improved from a net balance of 52 per cent in January to a net balance of 60 per cent in February. The lender said confidence improved among buyers and sellers, both of which registered all-time highs.
Profits at UK housebuilder Bellway jumped by more than a half in the first six months of its financial year, prompting the company to hiked its interim dividend by 56.3% to 25p per share. Pre-tax profit was up 53.1% at £158.9m in the half year ended 31 January.
London housing market on the up after six months of flat lining: London’s house prices are picking up again after stalling since August, official data showed
Cala building sales to more than £500 million: Upmarket housebuilder Cala Group is on track grow its sales to more than £500 million this year following a “significant” increase in volumes and prices.
House price slip fails to help first-timers: House price growth has continued to edge down from the double-digit increase of last year, but experts say that many would-be buyers are still locked out of the market.
UK house price index advanced less than expected in January On an annual basis, in the UK, the house price index climbed 8.40% in January, compared to an advance of 9.80% in the previous month. Markets were expecting the house price index to advance 8.90%.
Number of property transactions down 7.9% year-on-year The number of residential property transactions fell 7.9 per cent year-on-year in February, according to new figures published today by HMRC. There were 100,510 transactions in February, compared with 109,100 a year earlier. However, the number of transaction increased 2.5 per cent on a monthly basis from 98,050 in January. The number of non-residential transaction increased 7 per cent year-on-year, from 9,250 in February 2014 to 9,900 a year later. On a monthly basis, the number of transactions increased 2.7 per cent from 9,650 in January. Myhomemove sales director Dev Malle says: ”The housing market has been rife with speculation about whether the general election will cause a big slowdown in the property market, and February’s figures reflect the further tapering of activity by buyers and sellers alike as uncertainty looms. “However, the year-on-year comparison between this year and last makes for more encouraging viewing than many anticipated; a seasonally adjusted fall of 7.9 per cent compared to last year certainly doesn’t suggest that the life has been sucked out of the market. We expect the number of housing transactions to continue their long-term recovery once greater certainty is in place after the election.” He adds: ”Overall the outlook for housing transactions is positive and sustainable, particularly as the political parties have made new build and housing supply a key part of their election campaigns so far.” The figures are based on HMRC’s stamp duty database and are seasonally adjusted
The number of residential property transactions fell 7.9 per cent year-on-year in February, according to new figures published today by HMRC. There were 100,510 transactions in February, compared with 109,100 a year earlier. Blogs Your Views Latest Reader Comments Editor's Comment of the Week Latest MS Straw Poll Acumen Jobs Events MSTV . click here You are here:Home News & Features Sectors Products Products News . Number of property transactions down 7.9% year-on-year 24 March 2015 | By Paul Thomas inShare.1 Print Email Comment . Dev-Malle-2013-700x450.jpg . The number of residential property transactions fell 7.9 per cent year-on-year in February, according to new figures published today by HMRC. There were 100,510 transactions in February, compared with 109,100 a year earlier. Related articles Halifax completes 1,000 Help to Buy transactions in four months . Consumers blame poor communication for one in four failed transactions . LSL: First-time buyer transactions up 15% in April . One in four transactions were valued at over than £250k in 2012 . Housing transactions will remain below peak levels until 2020 . However, the number of transaction increased 2.5 per cent on a monthly basis from 98,050 in January. The number of non-residential transaction increased 7 per cent year-on-year, from 9,250 in February 2014 to 9,900 a year later. On a monthly basis, the number of transactions increased 2.7 per cent from 9,650 in January. Myhomemove sales director Dev Malle says: ”The housing market has been rife with speculation about whether the general election will cause a big slowdown in the property market, and February’s figures reflect the further tapering of activity by buyers and sellers alike as uncertainty looms. “However, the year-on-year comparison between this year and last makes for more encouraging viewing than many anticipated; a seasonally adjusted fall of 7.9 per cent compared to last year certainly doesn’t suggest that the life has been sucked out of the market. We expect the number of housing transactions to continue their long-term recovery once greater certainty is in place after the election.” He adds: ”Overall the outlook for housing transactions is positive and sustainable, particularly as the political parties have made new build and housing supply a key part of their election campaigns so far.” The figures are based on HMRC’s stamp duty database and are seasonally adjusted
UK house prices growth slowed to 8.4% in the year to January 2015, down from 9.8% in the year to December, according to new data from the Office for National Statistics. The ONS added that house price growth "is beginning to show signs of slowing across the majority of the UK". The slowdown is worse than economists were expecting, with forecasting pencilled in for growth to remain at December's 9.8% level. On a seasonally adjusted basis, the statistics office said that average house prices fell by 0.2% between December and January. House prices grew 8.5% in England, 4.9% in Wales, 7.8% in Scotland & 7.3% in Northern Ireland in year to January.