Real Estate

Shaftesbury records strong demand in London

ShaftesburyShaftesbury PLC, a leading property company focused on London's Soho and other West End districts, has said that the business has remained strong in the market.

The company said that the business was strong for its tenants even after weather affected market conditions. It recorded strong demand across properties in Carnaby Street, Chinatown, Charlotte Street and other West End "villages" during the four months till 6 February, 2014.

Morgan Stanley agrees to pay $1.25 billion to resolve mortgage lawsuit

Morgan Stanley agrees to pay $1.25 billion to resolve mortgage lawsuitUS-based banking giant Morgan Stanley confirmed on Tuesday that it would pay $1.25 billion to the U. S. regulator to settle the charges that it misled investors on the sale of mortgage-backed securities prior to the housing bust.

In September 2011, the U. S. Federal Housing Finance Agency (FHFA), the conservator of Freddie Mac and Fannie Mae, accused Morgan Stanley of making untrue statements and material omissions in the sale of nearly $11-billion worth of mortgage securities.

SC verdict on Mumbai forest land boosts Oberoi Realty, Godrej Properties

SC verdict on Mumbai forest land boosts Oberoi Realty, Godrej PropertiesShares of real-estate firms Godrej Properties and Oberoi Realty enjoyed significant gains in early morning trade on Friday, thanks to the Supreme Court's favourable verdict on Mumbai private forest land.

The apex court on Thursday quashed all prior notices and orders regarding encroached forest land in different areas bordering the rambling Sanjay Gandhi National Park in Mumbai.

Crest Nicholson records 40% rise in pre-tax profits

Crest NicholsonCrest Nicholson, a leading home builder in the UK, has said that it has recorded as strong 40 per cent rise in pre-tax profits to £86.8 million.

The company sold 2172 houses in the 12 months to October, 2013, which is 15 per cent higher than the previous year. Crest Nicholson utilised the government's schemes to boost business as it took 600 reservations under the 'Help to Buy' scheme. The company was taken private by Sir Tom Hunter and Bank of Scotland but has been listed since one year.

Supertech to invest Rs.750 crore in setting up university

Supertech to invest Rs.750 crore in setting up universityNew Delhi, Jan 23 : Real estate firm Supertech Thursday said it will set up a university in Uttarakhand that will require an investment of Rs. 750 crore in the first phase, expected to be completed by the end of 2015.

This is the first venture of the real estate major in the education sector.  The new university will be located in Udham Singh Nagar district of Uttarakhand, 237 km from the national capital Delhi.

UK property asking prices record biggest rise in December-January

UK property asking prices record biggest rise in December-JanuaryAccording to a new report, the asking price for properties in the UK recorded its highest increase during the December-January period.

Rightmove, a leading property website said on Monday, said that the prices are rising significantly in the country raising concerns over a property bubble in the UK.  The report showed that price of properties coming on to the market increased 1 per cent between December 9 and January 11, which is its highest gain since 2002.

More houses in market in Scotland, experts

UK HouseExperts have said that the number of homes in the Scottish housing market has increased as the sector continues to record strong recovery.

According to chartered surveyors, a total of 44 per cent of the experts said new instructions increased in December, which is the highest proportion in the UK. The survey also showed that 55 per cent more experts reported a rise in new buyer inquiries in Scotland indicating that the demand for homes increased in the region.

Barratt Developments expects strong increase in sales

Barratt Developments expects strong increase in salesBarratt Developments, a leading home builder in the UK, has said that it expects its sales to rise 71 per cent to nearly £1.3 billion in the first half of its financial year.

Fannie, Freddie are too profitable to be liquidated

Fannie, Freddie are too profitable to be liquidatedAnalysts have said that government owned mortgage security firms, Fannie and Freddie might be too profitable to be shut down, as planned by the government.

The government has offered to save mortgage finance giants Fannie Mae and Freddie Mac in 2008.  This involved the largest of the bailouts with a conbined $187.5 billion because the government thought that they were too big to fail.

London surpasses New York as leading city for property investment

London surpasses New York as leading city for property investmentAccording to a new survey, the British capital, London has overtaken New York as the best city in the world to make investments in real estate.

A survey released by a global investor group yesterday showed that London increased its lead over New York, pushing the US city to the second position worldwide.  The survey showed that about quarter of the points awarded to a range of worldwide cities were given to London in 2013.  New York was in the second position with just more than 20 per cent points.

Many borrows concerned over mortgage payments in 2014

Many borrows concerned over mortgage payments in 2014According to a new survey, more than a third of the people who have rented houses or those who have mortage payments, have said that they might face difficulties with payments during the year, 2014.

According to a new survey, a total of about 3,600 people for homelessness charity Shelter showed that those with children are worst affected due to the economic conditions. About 70 per cent of the respondents have said thay are already finding it difficult to keep up with the payments and some are already falling behand schedules.

London home prices rise around 10% in December

home prices riseAccording to the latest figures released, the housing prices in the British capital, London have risen more than 10 per cent during the month of December.

The increasing prices of homes in London are increasing the gap between housing prices in the south-east of England and the rest of the UK. Latest official figures showed that the London housing prices are rising at a much faster rate than the rest of the UK and creating an large North/South divide in property values.

Housing prices rise 4.4% in 2013 in England and Wales

Housing prices rise 4.4% in 2013 in England and WalesAccording to the latest figures released, the housing prices have increased in England and Wales by around 4.4 per cent during the year, 2013.

The data also showed that the housing prices rise the highest at around 9 per cent in London during the good year for the housing market backed by support schemes from the government and increasing demand. Demand for housing units remained much higher than availability and this pushed up prices across the UK including in southern England.

House prices to rise 2014 in the UK

House prices to rise 2014 in the UKAccording to a new report, the housing prices are expected to rise in the coming year in the UK as the housing market rises across the country.

Analysts at Hometrack said that homeowners across 75 per cent of England and Wales said that the price of their properties increased in the previous year. Analysts have said that attractive mortgage rates and better economic forecasts have helped push up prospects for higher prices in the country.

US mortgage rates rise this week

US mortgage rates rise this weekThe US mortgage rates have recorded a rise this week after the Federal Reserve indicated that it eill start cutting back its fiscal stimulus package for the US economy.

The Freddie Mac's Primary Mortgage Market Survey showed that average rate for a 30-year fixed-rate mortgage rose to 4.48 per cent during the week till 26 December, 2013, recording an increase of 0.7 per cent compared to the previous week. The 30-year fixed-rate mortgage averaged 3.35 per cent during the same week of the previous year.

Despite key reforms, India's realty industry remained stressed

realty-industryNew Delhi, Dec 26 : Economic slowdown, inflationary pressures, volatility in foreign exchange and stock markets, together with liquidity crunch and costly debt, took a toll on India's real estate sector in 2013, with investor sentiment taking a severe beating despite a number of reform initiatives undertaken by the government.

Mortgage approvals reach four year high in the UK

Mortgage approvals reach four year high in the UKAccording to the latest figures released, mortgage approvals in the UK have risen to its highest level in four years as the housing sector records strong recovery.

The British Bankers' Association (BBA) said that the number of approval for buying homes was higher by a third compared to the same month in the previous year.  The figures indicated that mortgage lending is expected to remain strong during the coming year.  It is estimated that around 45,044 mortgages worth £7.2 billion were approached during the previous month.

Housing prices to rise 8% in 2014

Housing prices to rise 8% in 2014According to a latest report, the average price of homes in the UK is expected to rise around 8 per cent during the next one year.

The new study by Halifax showed yesterday that the houses will be 14,000 more expensive in 12 months as the prices rose across the United Kingdom. The report also dismissed fears that the UK's housing market is heading towards property bubble.

UK housing prices to rise 7%nextyear, report

UK housing riseAccording to a new report on UK's property market, the property prices in the country are expected to rise by around 7 per cent during the coming year

The new report by the Royal Institution of Chartered Surveyors (RICS) predicted that the price of homes will increase in the country as the supply of homes will not be enough to meet the rising demand in the UK. The report also said that the rents are expected to rise by around 2 per cent during the next one year due to lesser number of homes available in the market.

BoE warns over housing market

HouseThe Bank of England warned that the housing marketing the UK is at the risk due to rapidly increasingly housing prices.

Chief economist Spencer Dale said that the housing market is facing the risk of overheating. The comments from the central bank might raise fears that the BoE might increase interest rates sooner than expected. It is believed that the construction sector is rising rapidly in the housing sector. Data released from Halifax showed house prices rose 7.7 per cent per year in November, which is the fastest rate in six years.

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