Property shares nosedive

first_imgShare values across the property sector have dropped in recent days amid growing signs that the residential property market is slowing, especially in previously buoyant London and the South East.Countrywide, the country’s largest estate agent, saw its shares drop by 2.9 per cent late last week, while Rightmove and Zoopla’s share prices fell by 3.7 per cent and 2.5 per cent respectively.House builders also failed to escape unscathed from a raft of recent property reports and house price indices that suggest that it is fast becoming a buyer’s market as the market cools.Developers listed on the FTSE 100, such as Taylor Wimpey, Persimmon and Barratt, all saw their share prices depreciate by more than 4 per cent at the end of last week, with further falls anticipated by some market analysts.Stockbroker Jefferies, for instance, last week downgraded the entire residential property sector, projecting that London and the South East may see property price falls in the months ahead.A research note from Anthony Codling, Jefferies’ property analyst, which was made public last week, suggested “share price weakness in the UK residential sector” in the first quarter, on the back of “negative newsflow on UK mortgage approvals, UK housing transactions, weak houseprice data and lower UK GDP growth.”“The weakness will continue into the second quarter because of uncertainty caused by the UK national election in May,” he added.“We also believe that house price growth will slow significantly during the first half and may even decline in some parts of London and the South East, while there is uncertainty around the outcome of the election and the prospect of a new mansion tax should power change hands.”Recent property price data released by the Land Registry, Halifax and Nationwide all reveal that home prices increased fairly strongly last year, but they are slowing, reflected by a fall in demand for mortgages, which fell sharply in the fourth quarter of last year, according to the Bank of England.residential property market slowing share values January 21, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Property shares nosedive previous nextHousing MarketProperty shares nosedive21st January 20150572 Viewslast_img read more

Osama bin Laden’s son killed in US raid – Trump

first_imgHamza bin Laden, the son of al-Qaida leader Osama bin Laden, is shown at his wedding in a video image released by the CIA in November 2017. HANDOUT VIA REUTERS In a statement issued by the WhiteHouse, Trump said the operation took place in the Afghanistan-Pakistan region,but he offered no further details. WASHINGTON – Hamza bin Laden, a son ofslain al Qaeda leader Osama bin Laden and himself a notable figure in themilitant group, was killed in a U.S. counterterrorism operation, PresidentDonald Trump said on Saturday.center_img “The loss of Hamza bin Ladin not onlydeprives al-Qa’ida of important leadership skills and the symbolic connectionto his father, but undermines important operational activities of the group,”Trump said, using an alternative spelling for the group that carried out theSept. 11, 2001, attacks. (Reuters)last_img read more