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October 31, 2008
Goodman targets tenants for Leicester office development
Permalink: Goodman targets tenants for Leicester office development
by Lin Freestone
Goodman, the international property group which owns, develops and manages office and industrial space, officially launched the final phase of a £25m regeneration project in Leicester at the end of October.
The final phase – Two Colton Square – comprises 55,040 ...
Further delays for Hammerson’s £600m Sheffield retail development
Permalink: Further delays for Hammerson’s £600m Sheffield retail development
by Lin Freestone
Speculation surrounds the future of a Hammerson development which, in August 2006, received outline planning approval for the proposed New Retail Quarter in Sheffield.
The approval was granted by Sheffield City Council, following detailed consideration and months of public consultation. ...
October 30, 2008
Nationwide: House prices down nearly 15%
Permalink: Nationwide: House prices down nearly 15%
by Kay Murchie
According to the Nationwide, house prices in the UK have now fallen for the twelfth consecutive month.
The building society's latest survey has revealed that property prices fell by 1.4% in the last month, taking the annual rate of fall up from ...
Westfield London opens today 99% let
Permalink: Westfield London opens today 99% let
by Lin Freestone
Defying the economic gloom, up to 170,000 shoppers are expected to visit Westfield Shopping Centre in west London on its opening day today, Thursday 30 October.
Covering a site of 43 acres in Shepherd’s Bush, the £1.7bn shopping centre is the second ...
October 29, 2008
Hips continue to be subject to criticism
Permalink: Hips continue to be subject to criticism
by Kay Murchie
Margaret Beckett, the newly-appointed housing minister, has acknowledged that Home Information Packs (Hips) are still not achieving what they set out to do.
Hips were introduced to speed up the home buying and selling process as well as providing consumers with ...
BoE: Slight rise in mortgage lending in September
Permalink: BoE: Slight rise in mortgage lending in September
by Kay Murchie
Figures published today by the Bank of England reveal that mortgages approved for house purchase in the UK rose in September for the first time in a year, after hitting an all-time low in August.
According to the Bank, 33,000 ...
Land Registry report house price falls of 8% on year
Permalink: Land Registry report house price falls of 8% on year
by Kay Murchie
The Land Registry has revealed annual house prices in England and Wales have fallen 8%, while it posted a monthly fall of 2.2% in September.
This takes the average property to £168,814, according to the Land Registry.
The biggest ...
October 28, 2008
FSA: Repossessions soar by 71%
Permalink: FSA: Repossessions soar by 71%
by Kay Murchie
The Financial Services Authority (FSA) has released figures today showing that the number of people losing their homes during the three months to the end of June, surged by 71% compared with the same period a year earlier.
In the three months to ...
Letter calls for end to tax on empty properties
Permalink: Letter calls for end to tax on empty properties
by Lin Freestone
An open letter has been sent to Gordon Brown from the British Property Federation, with the backing of some of the UK’s largest commercial property owners. They are calling for relief on the tax imposed from the beginning ...
October 27, 2008
Persimmon warns housing market downturn gathering pace
Permalink: Persimmon warns housing market downturn gathering pace
by Kay Murchie
One of Britain's leading housebuilders, Persimmon, is to write-off £600 million (19%) of the value of its land.
Furthermore, the company, which is based in York, warned that as house prices continue to fall, it expects a 10% fall in the ...
CEBR: House prices to fall 25% from peak of last summer
Permalink: CEBR: House prices to fall 25% from peak of last summer
by Kay Murchie
There have been many reports recently predicting house prices. Just last week, Knight Frank estate agents said house prices in the UK will fall 30% from their high of summer 2007 and fall to levels seen ...
Three quarters of UK mortgage lenders yet to pass on 0.5% rate cut
Permalink: Three quarters of UK mortgage lenders yet to pass on 0.5% rate cut
by Kay Murchie
According to financial information provider, Moneyfacts, last month’s 0.5% interest rate cut has yet to be passed on by three quarters of UK mortgage lenders.
The Bank of England’s Governor and the Prime Minister both ...
Residential landlord Grainger struggles with debt
Permalink: Residential landlord Grainger struggles with debt
by Gill Montia
Grainger Plc, the UK's largest listed residential landlord, saw its share price slide at the end of last week, after offering to pay out its bondholders early in a move aimed at reducing the group's debt.
The offer, which has a deadline ...
October 24, 2008
Chester’s Northgate redevelopment may still go ahead
Permalink: Chester’s Northgate redevelopment may still go ahead
by Lin Freestone
ING Real Estate has reaffirmed its commitment to the development of its planned £460m Northgate scheme in Chester’s city centre.
The future of the development was in doubt following the posting of a third quarter loss by ING Bank, the Amsterdam-based ...
October 23, 2008
Attitudes to PRS examined in new review
Permalink: Attitudes to PRS examined in new review
by Lin Freestone
A review of the private rented sector (PRS) has been published, marking an important watershed. It recognises a move away from myth-driven policy decisions towards evidence-based recommendations that acknowledge the important contribution small landlords make to the housing mix.
The publication ...
Sharp increase in demand for rented property
Permalink: Sharp increase in demand for rented property
by Lin Freestone
The UK’s second largest lettings agent, Your Move, has reported that there was a 4.34% rise in the number of leases that began in September, when compared with those taken up in August.
In the nine months to September 2008, ...
Property website Rightmove cuts 20% of workforce
Permalink: Property website Rightmove cuts 20% of workforce
by Lin Freestone
Rightmove, the operator of the UK’s largest residential property website, is planning to cut its workforce by 20% as fewer house sales are being completed. Approximately 90% of all new and existing homes for sale appear on Rightmove’s website.
The scale ...
Buy-to-let mortgage applications rise despite B&B crash
Permalink: Buy-to-let mortgage applications rise despite B&B crash
by Gill Montia
Spicerhaart Financial Services has published its latest mortgage survey, showing a rise in the number of people taking out buy-to-let mortgages, in September.
Given that September was also the month in which the UK's biggest buy-to-let lender, Bradford & Bingley (B&B), ...
Lettingweb launches Facebook application
Permalink: Lettingweb launches Facebook application
by Gill Montia
Lettingweb, the Internet letting portal, has launched a new application on social networking site, Facebook.
The firm, which specialises in flats to rent in Edinburgh, Glasgow, Manchester and Leeds, says users can access the full particulars of a property within the application rather than ...
Capital Economics predict 35% fall in house prices
Permalink: Capital Economics predict 35% fall in house prices
by Kay Murchie
Economic forecasting agency, Capital Economics, are predicting that house prices will fall 35% by next autumn, from their peak of last summer.
Previously, the organisation had forecasted that prices would fall 35% by 2010, but in the wake of the ...
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