Shareholders question HBOS’s property market exposure
HBOS shareholders are putting pressure on the bank to provide detail about its exposure to the beleaguered housebuilding industry. The bank has a major interest in builders including McCarthy & Stone, Cala, Crest Nicholson, Tulloch and the Miller Group, and questions are now being asked about potential losses or any asset write-downs on these investments.
Economists expect house prices to bottom out in 2009
A poll of economists from banks, building societies and other industry players found that 44% expected the housing market to bottom out in 2009, with a further 38% expecting the decline to hit its lowest point in 2010.
CPA predicts starts will drop to lowest level in 60 years
The Construction Products Association has forecast that new home starts this year will drop to their lowest level since 1945. It expects 147,000 homes to be started, down 27% on last year.
Sustainable construction strategy launched
The government and housebuilding industry have launched a new strategy to improve the productivity, efficiency and sustainability of the UK’s construction sector.
81% of new home buyers satisfied - OFT
New home buyers are satisfied with their home and the buying process but after-sales service needs improvement, according to the Office of Fair Trading (OFT) new homebuild consumer survey.
Barratt shares lose 25% of value in a day
Housebuilders’ share prices plunged yesterday as rumours of a rights issue by Barratt sent its share price down by 25%, closing at a new low of 91.5p – less than 10% of their value at their peak in February 2007. Other volume housebuilders faced falls on the back of the news: Persimmon shares lost 9.6% of their value and Taylor Wimpey shares were down by 15.6%.
John Laing and Croydon council in £450 million partnership
John Laing Projects & Developments and Croydon council have entered into a new model of public private partnership, it was announced today (June 10).
RICS reports house prices at 30 year low
The number of homes changing hands has fallen to its lowest level in 30 years, the Royal Institute of Chartered Surveyors (RICS) has reported.
Consumer confidence still strong says Countryside research
Countryside claims that consumer confidence is not as weak and the economic downturn not as severe as commentators have reported, research has revealed.
House prices experience \"third largest ever fall\"
The average UK house value fell £4,470 to £186,482, its third largest ever fall according to an index published in association with HBOS.
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