Breaking News
Wales leads the way.
I suspect many of you who saw the Welsh flag at the head of this Breaking News item would have thought you were going to get another report on what can only be described as one of the greatest games of football in British fooballing history last week, Wales against Belgium, well you are not,…
Allen Walkey
Overseas property after Brexit
Brexit appears to be a nailed on certainty from here on, even though article 50 needs to be invoked by the government in power and from what we are hearing from the media this will not happen until we have a new Prime Minister in place, even then there will be negotiations that will take…
Allen Walkey
Property Personnel advises estate agents to “hold their nerve” post- Brexit
The Managing Director of the UK’s oldest estate agent recruitment consultancy has advised employers to “hold their nerve” following the ‘leave’ result in the EU referendum. His comments come after a snap survey of recruitment intentions carried out by the Chartered Institute of Personnel and Development (CIPD) which suggested that almost half of members…
Christopher Walkey
Boris withdraws from Leadership Race
The big surprise yesterday was that the staunch favourite Boris Johnson withdrew from the Conservative Leadership race and that his partner in the Leave campaign Michael Gove entered it. Yesterday (Thursday) marked the deadline for politicians to enter their bids for the leadership race. The 1922 committee announced the five official candidates. They are: Theresa…
Allen Walkey
Pound drops further following speech.
Mark Carney in his Bank of England (BoE) speech yesterday said that following the Brexit vote there probably would be need for ‘some monetary policy easing”, this had an immediate effect on the pound sterling which fell again against major currencies. Carney in his speech to business leaders reportedly said “In my view, and I…
Allen Walkey
Mortgage approvals down on the average in May
The Money and Credit statistical release for May 2016 released yesterday by the Bank of England (BoE) stated the following re Mortage Approvals: The number of loan approvals for house purchase was 67,042 in May, compared to the average of 70,598 over the previous six months. The number of approvals for remortgaging was 42,919, compared…
Allen Walkey
Savills announces aquisition of Chainbow Ltd
International real estate advisor Savills announced yesterday 29th June the acquisition of specialist residential management business Chainbow Ltd. Established in 1989 by Chairman and Chief Executive Roger Southam, Chainbow employs 28 members of staff, all of whom will join Savills with immediate effect, including managing director, Nigel Bosworth, and associate directors Gail Lawrence and Niccie…
Allen Walkey
Nationwide (HPI) June 2016
The Nationwide House Price index June 2016 released today headlines “Sight uptick in house price growth in June”. House price growth increased to 5.1% in June, up from 4.7% in May. The monthly change remained the same at 0.2%. The North – South divide continued to widen in Q2. Commenting on the figures, Robert Gardner,…
Allen Walkey
UK Cities (HPI) May 2016
The latest Hometrack UK Cities House Price Index (HPI) released yesterday 28th June reveals that Bristol has become the first city outside of the South East to see house prices rise at a faster rate than London for more than six years (January 2010). Latest Hometrack UK Cities House Price Index saw annual prices rise…
Allen Walkey
Foxtons Profits Warning
Foxtons Group yesterday released a trading update ahead of interim results. The update in part reads: The run up to the EU referendum led to significant uncertainty across London residential markets and the decision to leave Europe is expected to prolong that uncertainty. Whilst it is too early to accurately predict how the London property…
Allen Walkey
House Builders get demolished in the markets.
One of the major downsides to the UK voting out last thursday was the negative reaction across the markets, the FTSE dropped the least when compared to other exchanges, the Brexit vote has caused an air of uncertainty that extends far beyond the UK and Europe and looks like continuing for some while yet. One…
Allen Walkey
Negative Impact on House Prices on Brexit Vote
The decision for a Brexit taken last thursday and announced last friday looks like having a negative impact on the UK property market as well as other sectors of the economy, at least for the short term. The UK has now entered a period of uncertainty, how much this will affect general confidence and sentiment…
Allen Walkey
#Brexit – Britain votes to leave the European Union
The waiting game is over and the uncertainty over Brexit, which in recent weeks has caused the market to slow down in terms of transactions, with a wait and see attitude, is now over. Britain has voted to leave the European Union. Brendan Cox, Managing Director of Waterfords comment on what is considered one of…
Christopher Walkey
NLA URGES CALM AFTER BREXIT VOTE
Responding to the vote to leave the European Union (EU), Richard Lambert, Chief Executive Officer at the National Landlords Association (NLA), said: “Let’s just everyone, take a long, deep, calm breath. Leaving the EU is completely unknown territory, and jumping to conclusions isn’t going to help anyone. “We welcome the Mark Carney’s steadying words and…
Christopher Walkey
Mortgage Lending in May higher than previous month.
In a news item published on their website yesterday: The Council of Mortgage Lenders (CML) estimates that gross mortgage lending reached £18.2 billion in May. Lending was 4% higher than April (£17.6 billion), and 14% higher than May 2015 (£16 billion), and the highest May figure since 2008 when gross lending reached £23.7 billion. They…
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Allen Walkey