June 24, 2008 on 10:17 am | In News | No Comments
A year into the commercial property downturn, investors and developers are asking the same question: is the worst over? The answer, unfortunately for them, is almost certainly not. The market value of listed British property companies has almost halved over 12 months but analysts and property professionals warn there could be at least another year [...]
June 24, 2008 on 10:12 am | In News | No Comments
Once seen as a sure-fire way of making a small fortune, newly-built flats have become the worst victims of the housing market meltdown. Becky Barrow, Daily Mail – 23 June 2008 Prices of new-builds in city centres have collapsed, with many sold at auction for a fraction of their value only two years ago. In [...]
June 24, 2008 on 10:06 am | In News | No Comments
Tens of thousands of pounds of landlords and tenants cash could be at risk as the uncertainty over the property market threatens the future of some estate agencies, a major estate agent has warned. Romans estate agents, with offices across Reading, warned landlords and tenants to ensure the firm they work with is reputable, and [...]
June 20, 2008 on 12:31 pm | In News | No Comments
Despite malignant market conditions, a housing market in stalemate and soaring inflation more than a third of Brits do not believe that the credit crunch will affect them, so says new research. Philip Scott, This is Money – 18 June 2008, 3:04pm According to Swiss insurer Zurich, 36% of people do not believe that the [...]
June 20, 2008 on 12:23 pm | In News | No Comments
This month’s Roundtable experts are: James Ferguson, economist and stockbroker with Pali International; Ed Mead, director at Douglas & Gordon Estate Agents; Henry Pryor, CEO of PrimeMove.com; Seema Shah, property economist at Capital Economics; and John Wriglesworth, managing director of Wriglesworth Consultancy. Merryn Somerset Webb: So John, last year you said there was more chance [...]
June 20, 2008 on 12:15 pm | In News | No Comments
Buy to let landlords are ‘feeling the pinch’, according to new research from market research agency BDRC. More than 50 per cent of landlords admitted having experienced a void, (a time when their property did not generate rent), according to the survey; which comprised more than 500 30-minute online interviews with residential property landlords… FirstRung.co.uk [...]
June 20, 2008 on 12:04 pm | In News | No Comments
As workplace stress and redundancy fears push employees to breaking point, Lydia Stockdale reports on how mental health problems are being tackled in the downturn You wake up crying at 4 am, but don’t know why. Anxiety stops you getting back to sleep, so you exhaustedly get up for work, although you barely feel motivated [...]
June 20, 2008 on 11:59 am | In News | No Comments
Occupiers tell RICS conference 2010 assessment will be inflated Anger over empty property rates dominated last Friday’s annual RICS conference on rating. Julian Lyon, manager of European real estate at General Motors, said the removal of business rate relief on empty property since 1 April was ‘anti-competitive’ and represented ‘a tax on failure’. Mark Jansen, [...]
June 20, 2008 on 11:53 am | In News | No Comments
Consumer affairs champion’s attack of residential market highlights government failings The government Came under renewed pressure this week to regulate estate agency and improve home information packs, following publication of the Carsberg Review of Residential Property. Doug Morrison, Property Week – 20 June 2008 In the culmination of a year of industry consultation, Sir Bryan [...]
June 20, 2008 on 8:58 am | In News | No Comments
FBI agents arrested two former Bear Stearns hedge fund managers at their homes yesterday, the first Wall Street executives to be formally charged by the US Government in relation to the credit crunch, The Times reports. IFAonline.co.uk – Friday 20th June 2008 Within hours of arresting Ralph Cioffi and Matthew Tannin, the Justice Department announced [...]