Redrow shares climbed 1.2% to 481.9p in early morning trading on Wednesday after the house builder reported a return to underlying pre-Covid profits. The firm highlighted an underlying pre-tax profit of £410 million in FY 2022 from £314 million last year, alongside a statutory pre-tax profit of £246 million against £314 million. Redrow mentioned a […]

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Barratt Developments shares dipped 0.8% to 418.6p in early morning trading on Wednesday, after announcing a statutory pre-tax profit of £642 million in FY 2022 against £812 million the last year. The company highlighted revenues of £5.2 billion in FY 2022 against £4.8 billion the last year. Barratt Developments reported total home completions of 17,908 […]

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Berkeley Group shares soared 5.5% to 3,639p in early morning trading on Tuesday, after the company announced it was on track to meet its FY 2023 profit guidance of £600 million and £625 million for FY 2024. The housing firm said it expected profits for the current financial year to be 55% weighted to HY2, […]

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Taylor Wimpey shares increased 3.2% to 124p in early morning trading on Wednesday, following a HY1 performance ahead of market expectations. The housing giant reported completions slightly ahead of expectations at 6,790 homes, excluding joint ventures, with a 16.3% rise in pre-tax profit to £334.5 million compared to £287.5 million the last year. However, Taylor […]

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The housing market still has some momentum as house prices rose 11% year-on-year in their 12th consecutive month of growth, according to the latest report by Nationwide. Despite the ongoing cost of living crisis and soaring 9.4% inflation, high employment and a limited supply of homes kept prices climbing higher even amid the volatile market […]

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Rightmove shares were up 1.3% to 653.4p in early morning trading on Friday after the property search group confirmed a 9% revenue climb to £162.7 million in HY1 2022 compared to £149.9 million the last year. Rightmove attributed its revenue to customers increasing their use of digital products to upgrade their packages. The company announced […]

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Barratt Developments shares were down 0.9% to 460.9p in late morning trading on Thursday, after the company announced an underlying pre-tax profit slightly ahead of market expectations between £1.05 billion and £1.06 billion in its FY 2022 trading update. The housing developer reported a return to pre-pandemic completion levels, with 17,908 completions over the financial […]

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The FTSE 100 was down 0.9% and closed at 7,532.9 on Wednesday as the price of oil fell below the $120 mark, with Brent Crude trading at $117 per barrel as OPEC signalled a possible end to its ties with Russia, sparking hopes that the organisation could start increasing production. The outcome of OPEC’s decision […]

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Housing developments are being constructed across the UK every month in an effort to match rising demand. New builds in the UK do however come with a premium price tag of £306,997 on average, 26.7% more than the average price paid for an existing property. Across the UK, there is a variation in the price […]

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New research by estate agents Coulters Property has collated the average house price and salary in every major town and city in the UK to reveal the places where you will need to work the most – or least – to pay off your mortgage if you put down a 15% deposit. A mortgage is […]

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Leading UK home builder Redrow (LON:RDW) published its market predictions for the next year on Tuesday morning, projecting a “strong” 2021 and a steady housing demand despite the ongoing coronavirus pandemic. Matthew Pratt, CEO of Redrow, commented: “We are very excited about 2021. We entered our new financial year in a position of strength and, […]

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Real estate firm Rightmove has projected a further climb in UK house prices in 2021 despite Brexit, the ongoing coronavirus pandemic and whether or not the government chooses to extend the current stamp duty holiday. Asking prices rose almost 7% this year, but are expected to gain a further 4% over the next twelve months […]

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Research by Astons – a leading international real estate expert on residency and citizenship through investment, offering bespoke residence and citizenship solutions in the UK, EU and Caribbean through property investment – has found evidence of a growing trend amongst foreign investors bulk-buying properties across the UK in order to capitalise on the current stamp […]

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New research commissioned by bridging finance provider Market Financial Solutions (MFS) has outlined the growing concern over the UK’s housing crisis, with more than half of Brits considering it to be one of the biggest issues even amidst the Covid-19 pandemic and ongoing Brexit uncertainty. The MFS survey – conducted across an independent, nationally-representative survey […]

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Countrywide shares (LON: CWD) jumped 42% on Monday as the group enters talks with rival estate agency Connells for a takeover bid. The company said on Monday that Connells had made an offer of 250p per share – an increase of last week’s closing price of 140p. Countrywide has given Connells a deadline of 7 […]

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A new report released by property investment fund London Central Portfolio (LCP) has revealed that 22% of prime London properties purchased this year were bought by overseas buyers without a viewing. The data, collated from figures by the HM Land Registry UK House Price Index, consolidates reports that the property market is currently enjoying a […]

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Crest Nicholson shares (LON: CRST) surged over 16% on Tuesday morning as the group released a full-year trading statement. The results were ahead of expectations and the company has upgraded profit expectations. Pre-tax profit for the full year was ahead of previous guidance and totalled £37.9m and the group boasted a strong sales performance over […]

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Mortgage approvals have hit a 13-year high according to new figures from the Bank of England. In September, banks approved 91,500 mortgages – the highest figure since September 2007. Demand has been fuelled by the demand for more space since lockdown as well as the stamp duty holiday. “The number of mortgage approvals for house […]

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Lloyds (LON: LLOY) has reported a pre-tax profit of £1bn, beating expectations for the third quarter. After posting a loss in the first half of the year, the lender has returned to profitability after a surge in demand for home loans. This quarter has seen the biggest growth in demand for home loans since 2008, […]

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The average asking price for homes in the UK hit a record high in October, according to new figures from Rightmove. The average price for a home in Britain has increased by 1.1% last month to £323,530. The cost of a house on the website is a 5.5% increase from a year ago – the […]

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Countryside Properties shares (LON: CSP) fell almost 5% on Thursday after house completions fell from 5,733 to 4,053. The property group released a trading update for the period between 1 October 2019 to 30 September 2020, revealing an adjusted operating profit of £54m once final numbers are calculated. Due to the disruption caused by the […]

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Pensions Minister, Guy Opperman, said in a webinar that he wanted to explore ways for the auto-enrolment pension system to be adjusted, to allow buyers to borrow from their pension pots for property deposits. Today’s fire sale will mean fewer people will buy tomorrow Much like the myopic and expedient stamp duty holiday, the risk […]

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In what has been a bright start to the week for the FTSE 100 index, among the frontrunners of the top risers crib sheet were property developer stocks, who have likely enjoyed a period in which house buyers and retail consumers released pent-up demand. There were also gains in financials with HSBC rising 9% after […]

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A widely-followed monthly report by money-lender Halifax has revealed that the average UK house price has risen to a record high of £245,747 in August 2020, making it the largest monthly leap since 2016. Halifax’s House Price Index showed that house prices had risen 1.6% since July 2020, and overall 5.2% on this time last […]

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New data from the Bank of England suggests that the housing market is bouncing back after lockdown. UK mortgage approvals jumped to 66,300 in July – up from May’s low 9,000 in May and June’s 40,000. Figures are still lower than February’s 74,000, however, remain strong and are higher than the expected 55,000 approvals expected […]

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As British philosopher John Gray discussed in a recent article, there is a deep and widening cultural rift in British society. While this rift, as Gray sees it, is between the metropolises and everywhere else, the nationalists and the woke, and those with and without university degrees, we should also remain aware of intergenerational divides, […]

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Residential property developers Barratt Developments plc (LON:BDEV) have announced that they are set to begin the new financial year with “cautious optimism” on the back of surprisingly resilient trading figures, and intend to pay back a total of around £25 million in furlough fees as it welcomes back its staff. The company’s share price has […]

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On Tuesday prime minister Boris Johnson gave a speech in Dudley, in which he promised to “build better and build greener”, but also “build faster”, and adjust planning regulations to “build a more beautiful Britain”. If you guessed Mr Johnson has a passion for ‘building’, you’d be correct. The overall gist of today’s announcements was […]

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The Board of Triple Point Social Housing REIT (LON:SOHO) announced on Tuesday that it had completed a block acquisition of several properties across England. The company acquired six housing properties and a care home, for a consideration of £18.3 million, excluding costs. Its acquisition comprises a total of 91 units in total, 43 of which […]

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House builder Taylor Wimpey plc (LON:TW) have shared the prosperity of their successful counterparts with a high rate of home completions and a boost to their average sale price and on-year revenues, as December drew to a close. In addition to the number of completions rising 3% to 14,947 and average selling prices up 2% […]

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In September, Rightmove has reported a 16% on-month increase in new properties coming onto the market, with some areas seeing an annual price increase of over 4%, and the upper echelons of the London housing market enjoying increased liquidity amid a price dip. While property prices are down 1.1% on-year in the North East and […]

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