Stamp duty is making the housing crisis even worse May 8, 2019 There is no silver bullet to fixing the nation’s housing crisis, short of the obvious but politically challenging solution of building a lot more houses. Nonetheless, certain taxes and regulations make an already flawed market even more distorted and act as additional barriers to those seeking to buy and sell homes. And in the case [...]
City watchdog proposes mortgage shake-up to boost consumer choice May 7, 2019 The Financial Conduct Authority (FCA) today announced changes to mortgage advice rules to try and increase choice for consumers. The City watchdog identified a number of ways its advice rules are acting as a barrier to the development of new tools to help consumers choose and buy a mortgage and the new rules are aimed [...]
Purplebricks shares drop after founder Michael Bruce steps down May 7, 2019 Shares in online estate agent Purplebricks fell as much as eight per cent in early trading after it revealed founder and chief executive Michael Bruce is stepping down. Purplebricks said Bruce has resigned with immediate effect and will be replaced by chief operating officer Vic Darvey. Read more: Shares in Purplebricks plummet as UK and [...]
Sandbanks tops Britain’s list of most expensive seaside towns May 6, 2019 Sandbanks, the Dorset destination known for its waterfront mansions and views over Poole harbour, has topped a new list of Britain’s most expensive seaside towns. A home in the coastal location now stands at more than £750,000, rising 26 per cent in the past 12 months and remaining comfortably above the second most expensive seaside [...]
Tui to open 20 new destinations as travel group moves to strengthen hotel business May 6, 2019 Travel agent Tui has announced it is set to open 20 new hotels across Europe, Africa and Asia this summer as the company targets further growth in the sector. The company opened 10 new hotels on 1 May and plans to launch 20 and a new yacht by the end of the Summer season. Read [...]
Shares fall at shopping centre owner Intu as it warns on rental profit May 3, 2019 Shopping centre developer Intu's share price fell 6.7 per cent this morning as it warned 2019 losses may be worse than expected this morning as the troubled property firm battles with a challenging retail environment. Read more: Intu sells major stake in Derby shopping centre to cut debt The company, which welcomed former finance boss [...]
London jumps to second in global ranking of best cities to invest in May 2, 2019 London has overtaken Hong Kong to take second place in a global ranking of cities with the most investment potential. London rose to second place in the index compiled by asset manager Schroders, up from third place in 2017 and eighth place in 2016. Its position in the table has been boosted by strong employment [...]
West End landlord Shaftesbury braced for court row with tycoon shareholder May 2, 2019 A bitter row between a major London landlord and one of its largest shareholders has descended into threats of legal action this morning. FTSE 250 property giant Shaftesbury Group, which owns large parts of the West End including much of Carnaby Street and Chinatown, is braced for a court battle with Hong Kong billionaire Samuel Tak Lee [...]
Europe’s development banks lured into new Canary Wharf HQ May 1, 2019 Canary Wharf landed a major financial tenant today, as Europe’s development bank shifted its new HQ to the business district in a post-Brexit commitment to the capital. The European Bank for Reconstruction and Development (EBRD) is set to take more than 360,000 square feet (sq ft) at 1-5 Bank Street, moving its headquarters from Exchange [...]
Workspace giant IWG posts double-digit growth as international demand swells May 1, 2019 The world’s largest serviced offices group posted a double-digit rise in revenue this morning amid growing international appetite for its workspace brands. Read more: IWG shares surge after £320m Japanese franchise deal IWG, the firm which owns Regus and Spaces, revealed a 10 per cent rise in its first-quarter revenue today, rising in line with [...]
