Blackstone locks eyes on property market with $5.1bn AIG housing assets deal July 15, 2021 Private equity firm Blackstone is set to splash $5.1bn on housing assets from the American International Group (AIG), as it locks eyes on the affordable property market. AIG is also set to sell a 9.9 per cent stake in its life and retirement business to Blackstone for a further $2.2bn. Blackstone agreed to a “long-term strategic [...]
Savills suspends manager over racist tweet as social media firms enter hot water July 14, 2021 Estate agent Savills has suspended a manager after he posted a racist tweet after England’s Euro final defeat on Sunday. The investigation is now being spearheaded by the Greater Manchester Police, as the manager claimed his Twitter account was hacked. People took to Twitter to share the employee’s LinkedIn page which showed where he worked [...]
House prices: Property market slowdown good for long term stability July 14, 2021 Long-term stability in the housing market could be on the cards thanks to a gradual slowdown in house price growth and easing of government support, according to industry observers. Figures published by both Zoopla and Rightmove show that, although house prices are still outperforming the same period in 2019, growth compared with April and May [...]
Aviva warns government on building safety hit to UK property market July 14, 2021 Aviva warns the government that institutional investors could be scared away from the UK residential property market because of its new safety proposals for high-rise buildings, prompted by Grenfell. The UK insurer asked the government to consider how its new “Building Safety Bill” would financially affect their owners last year in a letter in November [...]
UK house prices swell 10 per cent year-on-year July 14, 2021 The average price for a home has swelled 10 per cent, according to official data today, as house price inflation continues. London’s homeowners however might not feel the benefit, with prices jumping just 5.2 per cent in the year to May, the Office for National Statistics (ONS) said. Property prices in the capital have the [...]
Majority of UK tenants prepared to pay more for furnished homes July 14, 2021 A furnished rental home can improve your chances of finding a tenant and may increase the monthly level of rental income secured, according to new research by Manor Interiors. The firm have found that over a quarter of UK tenants would more likely view a rental property if it was already furnished. Another 26 per [...]
Winkworth investors set for special dividend after bumper start to 2021 July 14, 2021 Winkworth directors announce a dividend of 2.2p per share for its investors following an “exceptionally strong performance” at the start of the year. The estate agent’s network sales revenues in the first half of 2021 exceeded those for the whole of 2020. In addition to the special dividend for the second quarter, directors also promised [...]
Barratt expects higher profits as home completions increase July 14, 2021 Barratt expects profits to be at the “top end” of market expectations, it announced this morning, amid a boom in home completions. The housebuilder delivered 17,243 homes in the year ended 30 June 2021 – 5,000 more than the year before, according to the company’s trading update. Despite the pandemic Barratt built more homes than [...]
Test and trace: One in five High Street workers now in self-isolation July 13, 2021 Hospitality and retail chiefs warned MPs today that a record one in five high street workers are self-isolating due to government pandemic tracing rules, and the situation could worsen. Kate Nicholls, chief executive of trade group UKHospitality, told MPs on the Business, Energy and Industrial Strategy committee that firms have forecast that a third of [...]
Almost all UK housebuilders’ revenues fell as fewer homes built during covid July 13, 2021 Only one of the biggest housebuilders in Britain has seen an increase in its revenue and built more homes in 2020, new research shows. The latest research from Warwick Estates has revealed that Vistry Group was the only major house builder which saw improved performance in terms of the number of houses delivered, and in revenue. The [...]
