All Property Week articles in 12 September 2008 – Page 9
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Barratt cuts dividend as homebuyers remain gloomy
Housebuilder Barratt Developments today said it would not pay a full-year dividend after revealing a 13% drop in pretax profit to £392.3m.
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Taylor Wimpey sells Taylor Woodrow for £74m
Taylor Wimpey has sold the UK business of Taylor Woodrow Construction to Vinci for £74m, to focus on its core housebuilding activities.
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London Assembly labour members to grill Boris Johnson this morning
Labour members of the London Assembly said they will later today question Mayor Boris Johnson on the ‘chaos that has so far defined his administration, the embarrassment caused by senior appointment Brian Coleman, and the backward steps taken on providing affordable housing’.
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Flooding time bomb: government inertia could lead to insurance cover withdrawal
Widespread flooding across the UK this week shows ‘continued evidence’ of the Government’s inertia and failure to strengthen flood defences which could impact residential and commercial property owners, said Aon insurance today.
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Peel’s Durham Tees Valley Airport hotel plans
Peel Holdings has submitted plans for a 100 bedroom- hotel at Durham Tees Valley Airport.
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UK auction prices slump 23%
The average price of a house sold at auction plunged by nearly a quarter in the year to August, dealing a further blow to Britain's battered property market, according to data unveiled today.
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Redrow assets hit for 40%
Redrow reassured investors with a debt facility to help it through the housing downturn, as it revealed profits for the year were wiped out by land writedowns.
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Barratt increases incentives for homebuyers
Housebuilder Barratt Developments has announced a slew of buyer incentives, including paying stamp duty for homes worth up to £500,000, in a desperate bid to kick start its dwindling number of property sales.
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First time buyers lowest since 2002
The number of first-time buyers getting on to the property ladder sank to a new low during July when 17,300 people took out a mortgage on their first home, 48% fewer than in July last year and the lowest level since comparable records began in 2002.
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Spanish property falls further as economy worsens
Post-summer blues at Spanish companies have been aggravated this year by the country’s economic downturn, which most economists admit will be worse than originally feared.
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Asian REITS in worst period since inception
Asia’s listed real estate investment trust industry, is experiencing its worst period since it arrived at the start of the decade.
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US bail-out to hit public finances
The US yesterday began to face the financial consequences of the bail-out of Fannie Mae and Freddie Mac after Congress’s budget watchdog said the housing giants’ operations should sit on the government’s books and the cost of insuring against a US default crept higher.
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Wal-Mart plans US Tesco assault
Wal-Mart is planning to open its new small-format Marketside grocery stores around San Diego in southern California as well as in Arizona, expanding its efforts to catch up with the rapid expansion of Tesco’s US Fresh & Easy chain.
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Aldi signs in Stoke
Aldi, the supermarket chain, has agreed terms with Stoke-on-Trent Regeneration a joint venture between St Modwen Properties and Stoke City Council to anchor its Stoke scheme.
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Commercial property development sees steepest fall in five and a half years
Commercial property development activity fell at steepest pace in the last month according to Savills survey.
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Hammersmith and Fulham Council wins affordable housing victory
Hammersmith and Fulham Council says it has ‘won a battle’ over affordable housing targets in the borough after the government backed down.
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Tories continue empty rates assault
The Tories are ratcheting up the pressure on the government over empty rates with a meeting in Kent this afternoon for businesses affected by the tax.
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Retailers hit by massive rates hike
Hard-pressed retailers in England face a massive 16% average increase in their rates bills from April 2010, according to new research from GL Hearn and Investment Property Databank (IPD) published today.
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OnlineMFI payment dispute settled
Furniture retailer MFI has settled a payment dispute with former parent company Galiform. Listed company Galiform has agreed to pay MEPMayflower, MFI’s private owner, £8m in settlement of a net asset value claim against Galiform. The claim relates to Galiform’s sale of the MFI retail business to Mayflower in 2006 ...
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OnlineTall buildings ‘offer clear economic benefits’ says report
Tall high density developments offer ‘clear economic benefits through an increased output of staff’ according to an independent research report launched today.
