August 31, 2008

Savills reports 88% fall in profits

Permalink: Savills reports 88% fall in profits
by Kay Murchie

As the housing slowdown continues, many industries have been suffering, particularly estate agents. Savills, which is one of the largest property agents in the UK, has reported that profits plummeted 88% during the first six months of the year. During the same six ...


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Main: Home News Guides Forums Property News: Property Prices Mortgages Property Developments Rental Property Overseas Property HIPS Property Guides Property Forums: Buying Property Selling Property Estate Agents Solicitors/Legal Mortgages Builders/Developers Property Development Home Improvement Buying Property Abroad	August 31, 2008 Savills reports 88% fall in profits Permalink: Savills reports 88% fall in profits by Kay Murchie As the housing slowdown continues, many industries have been suffering, particularly estate agents. Savills, which is one of the largest property agents in the UK, has reported that profits plummeted 88% during the first six months of the year. During the same six ... (more...) August 30, 2008 Landlords feel benefit of CGT changes Permalink: Landlords feel benefit of CGT changes by Gill Montia Landlords are feeling the benefit of the changes in capital gains tax (CGT) introduced at the beginning of April. Research from buy-to-let lender, The Mortgage Works, shows that those who sold rental properties in the second quarter of 2008 paid roughly half ... (more...) Empty property tax affects Segro’s profits Permalink: Empty property tax affects Segro’s profits by Lin Freestone Segro, the commercial property group formerly known as Slough Estates, has written off 11.5% from the value of its portfolio in the first half of the year to the end of June 2008. The company has recorded a loss of ... (more...) August 29, 2008 Capital & Regional sells assets to reduce debt Permalink: Capital & Regional sells assets to reduce debt by Lin Freestone Capital & Regional, the London-based commercial property investor and fund manager, has overhauled its banking covenants and reduced its overall debt by a significant level. The company has been conducting negotiations with its lenders, selling assets, and entering into ... (more...) B&B reveals £18m charge for mortgage fraud Permalink: B&B reveals £18m charge for mortgage fraud by Gill Montia Bradford & Bingley's (B&B) first-half results reveal that the UK's biggest buy-to-let lender has been the victim of mortgage fraud that has resulted in an impairment charge of £18 million. According to a report in The Times, details of the frauds ... (more...) Simplyzigzag partners Properazzi.com Permalink: Simplyzigzag partners Properazzi.com by Gill Montia Simplyzigzag.com, the fast expanding premium property portal, has joined forces with Properazzi.com, a property site that has the capacity to connect estate agents and vendors with almost 1.5 million homebuyers and investors, worldwide. The partnership means that Simplyzigzag properties will now be indexed on Properazzi.com ... (more...) August 28, 2008 House prices down 10.5% Permalink: House prices down 10.5% by Kay Murchie Nationwide is the first lender to publish figures for the UK's housing market in August. The building society has reported a 1.9% drop in prices during the month, taking the annual fall to 10.5%. The average price of a home now stands at £164,654, or ... (more...) Review could save branch closures at Foxtons Permalink: Review could save branch closures at Foxtons by Lin Freestone The private equity buyer of Foxtons’ estate agencies, BC Partners, has appointed NM Rothschild to carry out a review of the business. Foxtons, which currently has 1,500 staff and 24 branches in the London area, was sold by its founder, Jon ... (more...) Public sector work increases first-half profits for Costain Permalink: Public sector work increases first-half profits for Costain by Lin Freestone Strong growth in public sector infrastructure work has enabled Costain, the UK civil engineering group, to report a 26% increase in first-half, pre-tax profits of £10.1m. The group’s current order book shows an increase of 25% when compared to the ... (more...) August 27, 2008 London estate agents forced to quit as housing slowdown continues to bite Permalink: London estate agents forced to quit as housing slowdown continues to bite by Kay Murchie Blenheim Bishop estate agent, based in Mayfair, London, has been forced to close its doors on sales but will continue to let properties. The founder of the agency, Jonathan Vandermolen, said income from new homes was ... (more...) Profits slump 96% at Taylor Wimpey Permalink: Profits slump 96% at Taylor Wimpey by Kay Murchie Taylor Wimpey has continued the trend amongst housebuilders and reported a massive 96% fall in profits for the first six months to the end of June. Profits fell to £4.3 million compared to £119.8 million in the same period last year. The ... (more...) High end property still booming in London Permalink: High end property still booming in London by Kay Murchie According to Lurot Brand estate agents, high-end property in London is still booming. Whilst property prices continue to fall throughout the rest of the country, including Central London, houses at the top end of the market in London are holding their ... (more...) British Land CEO appointed to strengthen board of RBS Permalink: British Land CEO appointed to strengthen board of RBS by Lin Freestone The chief executive of British Land, Stephen Hester, has been appointed as a non-executive director of The Royal Bank of Scotland Group, from the beginning of October 2008. Stephen Hester is one of three new non-executive appointments to the ... (more...) August 26, 2008 Hips review needed as housing market continues to slow Permalink: Hips review needed as housing market continues to slow by Kay Murchie Estate agents are urging the Government to review Home Information Packs (Hips) in an effort to help the struggling housing market. Hips have long been the subject of criticism since they were introduced over a year ago and have ... (more...) Stewart Milne Homes launches 4.99% fixed-rate mortgage deal Permalink: Stewart Milne Homes launches 4.99% fixed-rate mortgage deal by Kay Murchie With the current misery surrounding the housing market, Stewart Milne Homes is offering some good news with an exclusive fixed-rate mortgage deal. The deal, which offers homebuyers a fixed rate of 4.99% for three years on a range of Stewart ... (more...) Buy-to-let lending shows resilience Permalink: Buy-to-let lending shows resilience by Gill Montia The Council of Mortgage Lenders' (CML) latest figures on new buy-to-let lending show a decline in volumes for the first half of 2008. In the six months to the end of June, 144,600 new buy-to-let loans were approved, down from 176,500 in the second ... (more...) Bovis profits plummet 83%, dividend slashed Permalink: Bovis profits plummet 83%, dividend slashed by Kay Murchie Housebuilder Bovis has announced that interim profits have fallen 83% in the first-half of 2008. The housebuilder blamed the mortgage squeeze for the fall as well as a sharp decline in house prices over the last year. Furthermore, Bovis has cut its dividend ... (more...) BBA: Mortgage approvals fall by two thirds Permalink: BBA: Mortgage approvals fall by two thirds by Kay Murchie The doom and gloom in the housing market continues as figures released today from the British Bankers Association (BBA) revealed that the number of mortgages approved for house purchases increased marginally from 22,369 in June to 22,448 in July. However, ... (more...) August 25, 2008 Transactions at Savills down 45% on year Permalink: Transactions at Savills down 45% on year by Kay Murchie Estate agent Savills is due to report its first-half results later this week and is expected to announce that transactional volumes have slumped by 45% compared with a year ago. Savills, which is one of the largest property agents in the ... (more...) Proposals for councils to offer mortgages Permalink: Proposals for councils to offer mortgages by Kay Murchie Local authority chiefs in London want to offer mortgages to those struggling getting onto the property ladder. Councils are urging the Chancellor, Alistair Darling, to relax borrowing rules so they can offer mortgages to thousands of families struggling to purchase a home. The ... (more...) 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Savills reports 88% fall in profits

Landlords feel benefit of CGT changes

Empty property tax affects Segro’s profits

Capital & Regional sells assets to reduce debt

B&B reveals £18m charge for mortgage fraud

Simplyzigzag partners Properazzi.com

House prices down 10.5%

Review could save branch closures at Foxtons

Public sector work increases first-half profits for Costain

London estate agents forced to quit as housing slowdown continues to bite

Profits slump 96% at Taylor Wimpey

High end property still booming in London

British Land CEO appointed to strengthen board of RBS

Hips review needed as housing market continues to slow

Stewart Milne Homes launches 4.99% fixed-rate mortgage deal

Buy-to-let lending shows resilience

Bovis profits plummet 83%, dividend slashed

BBA: Mortgage approvals fall by two thirds

Transactions at Savills down 45% on year

Proposals for councils to offer mortgages

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