All Property Week articles in 26 December 2008 – Page 5
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House experts differ on depth of slump
House prices are set to fall by an average of 10% next year, according to forecasters, with some experts expecting the decline to bottom out after summer.
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Britons pay off mortgage debt
New signs of a deep contraction in the British economy emerged yesterday with further evidence that householders have cut retail spending and started to reduce debt.
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Tenant fears hit Liberty and Hammerson
Liberty International and Hammerson slumped yesterday amid fears that they would be hit by tenant insolvencies.
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USC fashion chains folds as Hunter takes on many stores
USC, the designer clothing chain backed by Scottish entrepreneur Sir Tom Hunter, has become the latest high street retailer to collapse into administration.
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Bovis agrees new terms with banks
Bovis Homes yesterday joined the ranks of housebuilders forced to sign a new deal with their banks.
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Tchenguiz pub company woes mount
Globe Pub Company, the pub operator owned by property entrepreneur Robert Tchenguiz, is to call in financial advisers to look at 'operational issues' within the group after another quarter of poor trading left it within inches of breaching its debt covenants.
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Pension threat to HBOS takeover
Trustees of the HBOS pension scheme are considering asking a judge to set aside the bank’s proposed acquisition by Lloyds TSB until 'appropriate arrangements' are made to guarantee that the merged banking group will stand behind the fund, which has an estimated shortfall of £3bn-£5bn.
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Hunter’s retailer USC goes into administration
Scottish retailer USC, which is backed by retail and property entrepreneur Sir Tom Hunter, today became the latest casualty in the high street.
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Bovis secures new banking facility
Bovis Homes today announced that it has secured a new £220m banking facility until 2011, as predictions for the housing market get ever more gloomy.
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Fund manager takes DTZ stake
A fund manager specializing in European small cap companies has taken a 4% stake in struggling property services firm DTZ, it was revealed today.
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OnlineRussian giant PIK to get state support
Russian Prime Minister Vladimir Putin has announced that the country’s biggest property developer can count on a range of state support after its shares fell 96% over the last six months.
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Online'Savvy' shoppers hit the sales despite the crunch
The National High Street Index has reported that footfall in our high streets on Boxing Day was 2.3% higher than on Boxing Day last year.
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New Dubai islands 'three-quarters sold'
Nakheel has sold 70% of the islands that make up The World, a group of reclaimed islands in the shape of a world map located about 4km from Dubai’s shoreline.
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Emaar buyback cancelled
The UAE stock market regulator said today it has cancelled Emaar Properties’ 10 per cent share buyback licence after the firm failed to buy shares in time.
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Athens unions block Sunday opening
Labour union activists blockaded some shops in central Athens that were trying to open yesterday.
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Coastal towns 2009's Oz property hotspots
Coastal towns from Tully in Queensland to Upper Burnie in Tasmania are tipped to be among next year's property hotspots, as house prices in capital cities experience modest falls and upmarket property languishes under the strain of the financial crisis.
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Queensland developer in crisis long before disclosure
The Queensland developer FKP Property Group was having serious financial difficulties well before it disclosed them to the sharemarket, a Federal Court has found.
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Ashford REIT cuts jobs and benefits
Hotel real-estate investment trust Ashford Hospitality Trust Inc. said it will cut jobs, freeze its payroll and reduce benefits while suspending its common-stock dividend as it looks to boost its liquidity and cut costs.
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Recession and tight credit deepen housing woes
A deepening recession and tight credit conditions are compounding problems in the housing market, suggesting that declines in home prices may continue well into 2009.
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Shanghai relaxes terms for second housing loans
Shanghai has issued new measures to make it easier for people to buy their second homes in a bid to help its ailing property market.
