All Property Week articles in 01 May 2009
View all stories from this issue.
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APC Advice - Week 41: The month 21 review (part 4 – conclusion)
Jon Lever concludes his four-part series on the month 21 review, and Ben Elder looks at the landlord and tenant competency
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OnlineWestfield unveils food court at Merry Hill
Westfield has unveiled plans for a £24m food court, Eat Central, at its Merry Hill shopping centre in the west Midlands.
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Channel 4 presenter and property developer George Clarke talks to Property Week
George Clarke, presenter of Channel 4’s The Home Show, spoke to Propertyweek.com about the recession-hit residential development market.
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Ross Goobey lecture hears of 'green shoots'
The inaugural Alastair Ross Goobey Memorial lecture heard last night that confidence is slowly returning to the property sector, but rising unemployment will threaten the recovery of retail.
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House prices at most affordable level since 2002
House prices have fallen by nearly 18% over the last year, an average of £33,000, research from Halifax has said.
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OnlineStenham buys in Victoria
Fund management Stenham has bough 52 Grosvenor Gardens in London’s Victoria for £25m.
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UK commercial property capital value decline slows, says IPD
UK commercial property capital values fell by a further 8.7% in the first quarter of 2009, according to the Investment Property Databank (IPD).
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St Modwen agrees new Elephant & Castle market lease
St. Modwen, owner of Elephant & Castle shopping centre in Southwark, has agreed a five-year lease with Elephant & Castle’s market owners Urban Space Management (USM).
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SA house price deflation in double digits
The FNB House Price Index reached double-digit deflation in April, declining year-on-year -10.2%, representing a deterioration on the revised -7.9% rate of year-on-year decline recorded for March, the latest FNB house price index shows.
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Hypo post €382m loss
Hypo Real Estate Holding posted a net loss for the first quarter as it took further write-downs on its loan books and increased its risk provisions aggressively to account for fresh losses.
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US REITs move to deleverage
In the race to shed debt, several real-estate investment trusts are buying back their public bonds at steep discounts.
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Property exposure dents Westpac
While Westpac missed the initial bad debt shocks from the credit crunch, the lending giant's exposure to commercial property is now starting to hurt its bottom line.
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HK home sales slow as prices increases and flu hits
Home sales slowed last week as the market paused to digest recent increases in demand and the first case of H1N1 swine flu was confirmed in Hong Kong on Friday.
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China Vanke test water with sales
China Vanke, the biggest listed developer on the mainland, is testing the market for interest in its two projects in Shenzhen, according to sources.
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Mainlanders back to bargain hunt in Hong Kong
The decline in luxury home prices in Hong Kong and volatile stock markets in the Greater China region are luring a group of cash-rich mainlanders back to the city to snap up high-end residential properties in recent months, according to property consultants.
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Contracts for Dubai tower imminent
The main construction contract for the Burj Al Alam, a 501-metre high commercial tower at Dubai’s Business Bay that is destined to be one of the world’s tallest buildings, is expected to be awarded in 'four to five weeks', according to officials.
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Over 20% of US homeowners 'underwater'
A growing number of U.S. homeowners owe more than their properties are worth after prices extended their two-year decline in the first quarter, Zillow.com said.
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US banks spent $370m to fight sub-prime regulators
The top 25 US originators of subprime mortgages – the risky assets that sparked the global financial crisis – spent almost $370m (£246m) in Washington over the past decade on lobbying and campaign donations as they tried to ward off tighter regulation of their industry, an investigation has shown.
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Washington sets out tough bail rules
Federal regulators are moving to impose tough conditions on banks that want to repay bail-out funds, requiring them to prove they can issue debt without a government funding guarantee.
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Signs of easing in construction
Britain’s construction industry contracted at its slowest pace in seven months in April, as the weak pound helped to support new orders, according to the latest survey of purchasing managers by CIPS/Markit.
