Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Over-reaction to the non-dom rules? Have a feeling this could be a buying opp providing Greece gets a deal in place.
** London-exposed housebuilders and estate agents hit day's lows after UK chancellor George Osborne says in Budget govt will tighten non-dom tax rules ** Permanent non-dom status to be abolished ** Foxtons, Zoopla and Crest Nicholson down 3.8-4.2 pct ** Countrywide and Berkeley Group down c.2.3 pct ** Barratt Development, Persimmon and Taylor Wimpey top FTSE 100 losers
UK industrial production surprisingly advanced in May Industrial production unexpectedly climbed 0.40% on a monthly basis in the UK in May, higher than market expectations for a drop of 0.20%. In the previous month, industrial production had registered a revised rise of 0.30%.
Landscape supplier in first half sales jump as building booms: Hard landscaping manufacturer Marshalls had an 11% rise in revenue for the sixth months to 30 June, up to £199 million, the firm said.
Builders hail £100 million fund to finance small firms: Housing industry leaders have welcomed a £100 million initiative aimed at supporting small construction companies that are struggling to access finance.
Bumper U.K. car registrations belie health of sector: Car dealers registered more vehicles between January and June than in any other first-half on record — but the boom may be less impressive than it appears
Bovis Homes banks on more of the same from the Budget: The housebuilder Bovis Homes predicted the Chancellor would continue his support for first-time buyers in Wednesday’s Budget as it reported record sales for the first half of the year
Britons pour money into bricks and mortar: Net housing equity injection by households in the U.K. jumped to a record £13 billion in the first quarter of 2015, up from £12.6 billion in the final three months of last year, according to the Bank of England.
David Shaw to chair Mayfair’s Pollen Estate: Mayfair landlord The Pollen Estate has appointed the head of The Crown Estate’s Regent Street portfolio, David Shaw, as Chairman.
Rip-off rents hit the Home Counties as unaffordability contagion spreads out of London: The cost of renting in the Home Counties has risen 5.4% over the last six months to June, driven up by international tenants and a surge in demand from companies relocating employees and their families to the London commuter belt
Rural pensioners keep young families off housing ladder: The shortage of affordable homes in many of England’s rural areas is pricing out young families and will lead to dozens of “pensioner pockets” in the countryside, an analysis shows.
UK official reserves recorded a rise in June Official reserves recorded a rise of $1.00 million in the UK, in June. In the prior month, official reserves had dropped $324.00 million.
Treasury considers big shake-up of UK pension tax: Treasury officials are considering a big shake-up of the tax treatment of pensions, prompting warnings from the UK industry that retirement saving could be put at risk.
London’s luxury homes bubble loses air: House prices in London’s most expensive areas have begun to fall for the first time since the financial crisis, as tax rises curb demand and trigger fears that the capital’s luxury market has peaked.
Strong services growth points to early Bank of England rate rise: A post-election spurt from the U.K.’s army of services firms has raised the chances of a first rise in interest rates since 2007, experts said.
Fosun bets on European property with Resolution venture: Fosun, the private conglomerate run by the man dubbed “China’s Warren Buffett”, has taken a big step into the European real estate market by signing a joint venture deal with U.K.-based asset Manager Resolution Property.
Towering bids for City landmark: The imposing Heron Tower skyscraper in the City of London that is part-owned by Gerald Ronson, the property tycoon, could come under new ownership after potential buyers came in with unsolicated approaches.
UK construction PMI advanced in June In June, the construction PMI registered a rise to 58.10 in the UK, compared to market expectations of an advance to a level of 56.50. The construction PMI had registered a reading of 55.90 in the previous month.
UK house prices dropped in June On a monthly basis, the seasonally adjusted house prices eased 0.20% in June, in the UK. In the prior month, house prices had risen by a revised 0.20%. UK house prices advanced less than expected in June In June, the non-seasonally adjusted house prices climbed 3.30% on a YoY basis in the UK, lower than market expectations for an advance of 4.50%. House prices had advanced 4.60% in the previous month.
Housebuilder Persimmon said first-half revenues increased by 12% thanks to higher selling prices and higher volumes of new home sales, aided by an increasingly competitive mortgage market. Volumes increased 7% thanks to improved confidence post-general election and the average selling price for the group increased by 4% to roughly £195,000.
Knight Frank warns that homeowners will be hit: The proposed scheme for paying back hundreds of homeowners who would be forced out of their homes by runway expansion at Heathrow airport is “seriously lacking,” according to Knight Frank.
Buy-to-let poses potential threat to financial stability, says Bank of England Governor Mark Carney: The rapid growth of the buy-to-let mortgage market is considered one of the “main risks” facing the U.K.’s financial system, the Bank of England has warned.
Resolution Property to aid China’s march into London: Fosun has become the latest Chinese investor to move on the U.K.’s skyline, teaming up with a British property company as it gears up to begin its shopping spree.
Growth in British manufacturing activity unexpectedly slowed to its lowest level in 26 months in June, data from Markit and the CIPS showed on Wednesday. The closely-followed UK manufacturing purchasing managers' index (PMI) declined to 51.4 last month, down from a revised reading of 51.9 in May (first published as 52.0). While still growing - indicated by any figure over the 50 mark - economists were expecting an increase to 52.5. This was the weakest rate of expansion since April 2013, and was a result of moderating growth in production and new orders. "The UK manufacturing sector had a disappointing second quarter overall," said Rob Dobson, senior economist at Markit. "Growth trends in output and new orders were the weakest since the opening quarter of 2013, as a strong sterling exchange rate and subdued demand from mainland Europe offset the continued solidity of the domestic market." He said that export trade was likely to remain a drag on the economy, given the uncertainty surrounding the Greek debt crisis. "This makes it difficult to gauge fully any possible knock-on effects for the UK's trade with the euro area particularly in relation to impact from the euro-sterling exchange rate," Dobson said.
Heathrow and Gatwick await historic verdict: Heathrow and Gatwick were gearing up for a media circus, ahead of publication of the biggest decision in the history of modern British aviation.