All Property Week articles in 26 December 2008 – Page 4
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Lloyds to fight HBOS pension trustees
Lloyds TSB has signalled its determination to see off demands from the trustees of the HBOS pension scheme for greater security for retirement benefits once its acquisition of the ailing mortgage lender is complete.
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Entrepreneur battered by housing and retail woes
Sir Tom Hunter, Scotland’s highest-profile entrepreneur, is battling to cope with a savage retail downturn and ill-timed exposure to the housing market.
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Mapeley rebounds
The property group’s shares rebounded to 115p after Paul Collins, the chief operating officer, revealed that he had bought 10,000 shares at 75p each on Monday. The group’s shares were worth £14 at the start of the year.
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US house prices slump again
House prices in the United States slumped yet further during October, the latest S&P/Case- Shiller house price index, covering 20 key American metropolitan areas, showed. Prices dropped by 2.2 per cent in the month to stand a record 18 per cent down year-on-year.
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Bovis dips despite loan deal
The housebuilder’s shares fell by 14p to 380.5p despite signing a new loan deal with its banks. The interest costs of the loan will have soared and analysts believe that the deal is simply delaying the need for an eventual debt-for-equity swap.
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Verum to buy Ely Property
Verum, the investor group, has agreed to acquire Ely Property, the London-listed student accommodation business, based in Dublin, from Newcourt Group for an enterprise value of euros €39.3m (£38.5m).
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House prices continue to slide in every region
House prices fell by a further 1.9% in November according to the Land Registry who said overall activity in the market dropped again as well.
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Crunch forces more than 30,000 estate agents out of their jobs
More than 30,000 estate agents have lost their jobs since the start of the credit crunch and a leading research centre predicts that 46,000 'property sector workers' will be forced out of work by 2010.
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Olan Mills Photography to go into administration
Britain's biggest studio photography business has collapsed leading to the closure of 34 stores in England and Wales.
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Hammerson shopping centres busier than last year
Hammerson announced today that year-on-year like-for-like footfall was up across its shopping centre portfolio over the Christmas trading period.
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Dubai hotel occupany falls 25%
Hotel occupancy rates in Dubai have fallen by as much as 25% this month, prompting a bout of heavy discounts.
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Housing 'can raise India GDP by 1.5%'
While admitting that any attempt to fix a definition for affordable housing for a country as large and diverse as India, using the concept of one-size-fits-all, would be counter-productive, the panel headed by HDFC chairman Deepak Parekh has sought to redefine housing parameters.
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Simon Property settles claim over US mall gift card scheme
The owner of the Crystal Mall in Waterford, Connecticutt has agreed to pay nearly $309,000 to settle alleged violations of the state's gift-card laws, state Attorney General Richard Blumenthal said.
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Macquarie debt woes shake confidence
Debt-stricken Macquarie Office Trust sent shivers down the spines of investors in the listed property trust sector yesterday when it put out an operational update stating that it could only manage to get its banks to extend a $US74.5m ($108m) loan due in two days until March.
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Subprime lenders to be hit by arrears
Rate cuts may have come too late for home borrowers already behind in repayments, with the rate of arrears across the nation's housing market tipped to rise further as the economy cools.
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New Territories home sales hit 11-year high
Cheaper flats in the New Territories are defying the slowing housing market, with transaction values surging to an 11-year high.
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China local governments get more say in real estate
In a move to stabilise falling home prices nationwide, Beijing will give local governments more flexibility and power to support their property markets.
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HK mortgage approvals slump 37.9%
Approvals for housing loans in Hong Kong fell to a 33-month low last month because of a slump in demand and tighter lending from banks amid the global economic crisis.
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Russian group gets protected status
PIK Group, the Russian residential property developer, said that it had been included on the list of strategically important companies that will be able to count on state support from Russia’s Government.
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Italian business mood lower than early 1990s
Italian business confidence is at its lowest ebb in nearly 20 years, a survey published yesterday revealed, amid signs that the country faces a deep recession well into next year.