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Lost in Hackney
It’s almost the weekend but I find just enough editorial energy to come to the aid of a fellow property professional…
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Wind like an Egyptian
Egypt has launched a major tender for its first privately developed renewable energy project, a 250MW wind farm to be built on the Gulf of Suez.
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Scotland’s first sustainable school
Scotland’s first sustainable school has opened its doors to primary school students.
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B of E extends asset purchase programme
The Bank of England kept interest rates on hold again this month (at 0.50%) and extended its asset purchase programme to support the economy from £75bn to £125bn.
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Abu Dhabi in front
We probably all already knew it to be true but now it’s official, Abu Dhabi has taken the lead in the Gulf projects market.
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Seeing red
If the recession has forced you to ebay your sports car or park it indefinitely in Dubai International Airport, then it’s time for a shopping trip to London’s Regent Street.
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Confusion is stalling regional redevelopment
The UK Government must rethink the planning process to help kick-start regional development.
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New protection for UK tenants
The Association of Residential Letting Agents (Arla) has introduced a new licensing scheme for its UK members and a code of practice for landlords.
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Bridge life
A ‘living inhabited bridge’ over the river Thames, similar to the original London Bridge, is reportedly being considered by the mayor of London, Boris Johnson as one of a number of high-profile plans.
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Market accessibility remains key
Further evidence that activity in the housing market is continuing to pick-up, albeit from abysmally low levels, was provided today by the latest Bank of England mortgage approvals data.
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UK house prices start to fall
House prices in the UK fell for the first time in more than a year
According to Land Registry data, the average residential property dropped 0.2% in value during May, sparking concerns of a second downturn in the housing market.
The South East and London gained 0.9% and 0.7% respectively, however, industrial areas such as North Tyneside and Sheffield suffered declines of up to 1.5%.
Howard Archer of IHS Global Insight said: “Housing market activity remains well below long-term norms despite edging up recently.
“The economic fundamentals of high unemployment, still falling full-time employment and low earnings growth are hardly ideal, a major fiscal squeeze is starting, credit conditions remain tight and house price-to-earnings ratios have moved back up.”
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