In the news this morning, the construction industry may be enjoying strong activity for the time being, but forecasts for next year indicate growth could be the weakest in six years. UK average rents rose in July, halting a three-month period of declines, but the picture in the capital has not improved, with declines there extending to a fourth straight month. Sport isn’t just good for your health, it’s also good for house prices – analysis of house prices in areas close to London’s Olympic Park show they have risen 64% since the 2012 Olympic Games against a 38% rise for London as a whole.
CPA revises down estimates for construction industry growth (The Guardian/FREE)
Construction industry growth is set to hit a six-year low in 2018, with the Construction Products Association revising its growth estimate for next year down to 0.7% from the 1.2% previously forecast.
UK rents halt decline, but London rents continue lower (The Telegraph/FREE)
Rents halted a three-month decline in July, with the average UK rent rising by 1.1% to £925 a month, research by HomeLet showed.
East London house prices outperform on Olympic effect (The Times/£)
WEEKEND PAPERS: The holding of the Olympic Games in London in 2012 had a beneficial effect on house prices in the areas around Olympic Park, figures from lender Halifax show.
Avant Homes secures £200m revolving credit facility (The Times/£)
Avant Homes has secured a £200m revolving credit facility from Bank of Ireland, HSBC, Royal Bank of Scotland and Santander, and will use the proceeds to buy land in the Midlands and northeast England, Yorkshire and central Scotland.
Mortgage rates rising for those with low deposits (The Times/£)
WEEKEND PAPERS: Mortgage rates are rising for those borrowers with the smallest deposits, figures from Moneyfacts show.
Consumer spending falls for third straight month in July (The Guardian/FREE)
Consumer spending fell for a third straight month in July, the longest period of declines since February 2013, data from Visa show.
Sainsbury’s could cut more than 1,000 head office jobs (The Telegraph/FREE)
WEEKEND PAPERS: Sainsbury’s could cut more than 1,000 head office jobs as it looks to make cost-savings totalling some £500m.
Valuation Office Agency users dissatisfied with business rates appeal system (The Telegraph/FREE)
Nearly 90% of those using the Valuation Office Agency are unhappy with the service provided, according to figures from the agency, provided following a freedom of information request by Colliers International.
Latest listed buildings mark 70th anniversary of Historic England system (The Guardian/FREE)
The latest buildings to get listed status include a cabbies’ shelter, a Jewish cemetery and a luxury Hobbit house.
WeWork to invest $500m in Southeast Asia and South Korea (FT/£)
Shared workspace provider WeWork is to invest $500m in Southeast Asia and South Korea as part of its plans for expansion in Asia.
