George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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LONDON, Nov 25 (Reuters) - The services sector that forms the bulk of Britain's economy grew steadily in the three months to November, but companies are growing less optimistic about the outlook, a survey published on Tuesday showed. The Confederation of British Industry's quarterly survey revealed continued growth in profits and increased employment. It also showed expenditure on staff training at its highest level in 15 years, possibly reflecting skill shortages ahead. Britain's economy looks set to slow in the fourth quarter of 2014, but the pace of growth is expected to remain robust. "Growth across the services sector is expected to continue into the New Year," said Rain Newton-Smith, director for economics at the CBI.
Debut £250 million bond to create 2,800 homes: The company behind Glasgow Housing Association (GHA) has become the first organisation of its kind to tap into the bond market in a move aimed at creating some 2,800 affordable homes across central Scotland.
Value of private U.K. housing passes £5 trillion: The total value of the U.K.’s private housing stock has passed the £5 trillion mark this year as the property market recovery has taken off, a report has found.
Americans line up £1 billion London homes spree: A club of American businessmen has struck a deal to build £1 billion of flats and houses in London with the capital’s second-biggest developer, Galliard Homes.
London leads U.K.-wide house price slowdown: More evidence has emerged that suggests London house price growth is set to slow sharply while the national market moderates.
LONDON (Alliance News) - The house prices sentiment index continued to remain positive in November, though it was at the lowest level in twelve months, results of the household property prices sentiment survey from Markit Economics showed Friday. The house prices sentiment index, or HPSI, came in at 58.4 in November. This marked the twentieth consecutive month of rise in prices. A reading above 50 indicates price rise. However, the latest reading was less than the 60.7 score recorded in October and also marked the lowest reading in twelve months. The future HPSI, a measure of expectations of households regarding property value, rose to 71.1 in November from 70.8 in the previous month. "As we head into the winter, short-term factors dampening UK house price sentiment include the less favourable economic newsflow, stretched affordability amid weak underlying pay trends and, at the upper end of the market, a degree of hesitancy ahead of next year's General Election, " Tim Moore, senior economist at Markit, said.
UK house price index advanced more than expected in September In September, on a YoY basis, the ONS house price index in the UK recorded a rise of 12.10%, compared to a rise of 11.70% in the earlier month. Markets were anticipating the house price index to climb 11.20%.
HOUSING MARKET 'SUBDUED UNTIL ELECTION' Savills, the estate agent, says it expects the UK residential markets "to remain somewhat subdued during the extended pre-election period". Labour's mooted mansion tax is slowing down the market ahead of May. Scotland is picking up after the referendum though
Private rental costs set to nearly double by 2040 while wages rise just 40% sending millions into poverty, claims study: A lack of house-building could see private rents rise more than twice as fast as incomes in the next 25 years, sending more than half of England’s private renters into poverty, a new study has warned.
UK construction output advanced less than expected in September In September, on an annual basis, construction output registered a rise of 3.50% in the UK, lower than market expectations for an advance of 4.30%. In the prior month, construction output had registered a revised rise of 0.80%. UK Rightmove house price index declined in November The Rightmove house price index recorded a drop of 1.70% in the UK on a MoM basis, in November. The Rightmove house price index had climbed 2.60% in the preceding month.
Battersea’s Covent Garden Market to get ‘facelift’ in £2 billion regeneration plan: The Nine Elms area in Battersea, south-west London, has been given a double boost, with the wholesale market granted planning permission for a significant facelift, including the construction of 3,000 homes, and the transport secretary approving a £1 billion connecting Underground line.
The banking industry’s bill for bad behaviour: $300 billion: More penalties for foreign exchange manipulation, Libor-rigging and mis-selling could take the total fines levied on the banking industry above $300 billion (£190 billion), analysts have predicted.
BoE slashed its estimates on UK economic growth and inflation The Bank of England (BoE), in its latest quarterly inflation report, projected that the nation’s inflation rate would fall to 1.1% in the first quarter of 2015 and would remain below the central bank’s target of 2.0% for three years. The BoE expects the nation’s economy to grow 3.5% in 2014, unchanged from the previous estimate, but downgraded its growth estimate for 2015 to 2.9% from 3.1% and for 2016 to 2.6% from 2.8%.
UK house price balance registered a drop in October House price balance in the UK fell to a level of 20.00 in October, compared to a reading of 30.00 in the preceding month. Markets were anticipating house price balance to drop to 25.00.
The number of first time buyers fell 3% in September, the Independent reported. According to new figures from the Council of Mortgage Lenders, there were 26,800 first-time buyer loans in September, a 3% decline month-on-month, though the figure represented a 16% increase compared with the corresponding period in 2013. Lending to home movers also fell month-on-month for the second month in a row, with the number of 31,700 loans granted to movers in September, a 10% drop on the previous month.
London set to be U.K.’s worst performer over next five years: The wheel of fortune is turning against the capital’s property market, forecasts suggest
Berkeley Wins Approval for 68-Story Canary Wharf Tower http://www.bloomberg.com/news/2014-11-06/berkeley-wins-approval-for-68-story-canary-wharf-tower.html
Mansion tax could wipe 5% off the value of high-end London homes: Mansion tax could wipe an average of 5% off homes worth more than £2 million should Labour win the next general election and make the proposals a reality.
UK Halifax house price index surprisingly fell in October In October, the Halifax house price index unexpectedly eased 0.4% on a monthly basis in the UK, compared to a revised advance of 0.4% in the preceding month. Market anticipations were for the Halifax house price index to climb 0.4%.
The lost decade: House prices stuck at the same level as 2004 once inflated London property market is removed Property prices excluding London no higher than during 2004 But ONS statistics show wages after inflation are also no higher than 2004 Analysis shows prices outside London could take five years to regain peak
Persimmon shrugs off U.K. housing market slowdown: Persimmon, Britain’s biggest builder by market capitalisation, has dismissed concerns over a slowdown in the housing market as a return to the “traditional season pattern”.
U.K.’s housing boom squeezes out lower paid: Lower paid Britons have been increasingly unable to buy a house because of the combined impact of rising prices and new affordability checks, data from the Mortgage Advice Bureau showed. Help-to-buy sees high use: Just under 34,000 homes have been bought using the government’s Help-to-Buy scheme, requiring £1.42 billion of loans from the Treasury.
LONDON, Oct 30 (Reuters) - Britain's government published proposals to give the Bank of England new legal powers to control residential mortgage lending on Thursday, but said it wanted more evidence before deciding on a BoE request to regulate lending to landlords. The proposals are in line with finance minister George Osborne's desire to give the BoE greater oversight of residential mortgage lending to reduce the risk that the housing market could overheat and destabilise Britain's economy. "The government is proposing that the Bank is granted powers of direction for loan-to-value limits and debt-to-income limits for owner-occupied mortgages," Osborne said in a statement. The BoE's Financial Policy Committee (FPC) can already recommend limits on how much banks should lend mortgage applicants relative to their income and the value of their home. Both the BoE and the government want to beef up the FPC's powers by making such limits legally enforceable.
New figures from the lender, Nationwide, has shown that house prices for the UK edged up 0.5pc in October after falling in September. However, the annual rate of growth has slowed again and mortgage approvals are down 20pc on the beginning of the year