In the news this morning, more than a third of people looking to sell their homes are having to reduce asking prices in order to achieve a sale – is this just a reflection of unrealistic expectations? European property companies are calling for a relaxation of Solvency II rules, a move that could boost investment in real estate by insurance companies. A finance package by Lloyds Bank, the government and the London mayor will target the construction of 1,000 homes by 2021, to be delivered by micro-homes developer Pocket Living. Meanwhile, Grand Designs Kevin McCloud is also planning to build more homes and is looking to get investors interested in a £50m bond.
Prices cut on a third of all homes for sale (The Times/£)
WEEKEND PAPERS: Sellers are being forced to cut asking prices in order to achieve a sale, with more than a third of homes listed on Zoopla having their prices reduced.
Relaxation of Solvency II rules could boost flows into property sector (FT/£)
WEEKEND PAPERS: Property companies in Europe are calling for a relaxation of Solvency II rules limiting investment by insurance companies in real estate.
Pocket Living gets £150m finance package (The Times/£)
Lloyds Bank has teamed up with the government and the mayor of London to provide £150m of financing to Pocket Living.
Grand Designs presenter plans £50m bond to fund beautiful and sustainable houses (The Guardian, p. 16)
Kevin McCloud is looking to raise £50m to build beautiful and sustainable houses.
Yopa raises more than £27m (The Telegraph/FREE)
WEEKEND PAPERS: Yopa has raised in excess of £27m from two investors and will use the funds for expansion and to increase market share.
Bovis set to abandon high-volume model (The Telegraph/FREE)
WEEKEND PAPERS: Bovis Homes is expected to abandon its high-volume model and go more upmarket in a turnaround programme likely to be revealed alongside interim results this week.
HS2 rejects nearly half of applications to sell homes (The Times/£)
HS2 has rejected nearly half of the applications to sell homes submitted under its need to sell scheme.
Ugly homes risk killing off goodwill in local communities (The Telegraph/FREE)
WEEKEND PAPERS: Plans for a million extra homes by the end of the decade risk killing any sense of goodwill in local communities if the buildings are inappropriate, the chairman of the environment select committee, Neil Parish, will warn this week.
PM urged to be bold on housing (The Guardian/FREE)
Prime minister Theresa May is being urged to take a firm stance on measures to address the housing crisis.
Boden reports rise in earnings (FT/£)
Online clothes retailer Boden reported a 9.6% rise in pretax profit last year, to £26.2m, while sales were 9% higher at £308m.
Restaurant chain Filmore & Union plans expansion (The Times/£)
WEEKEND PAPERS: Restaurant and deli chain Filmore & Union will use a £3.5m investment from the Business Growth Fund to finance expansion.
Germany’s Real IS pays €45.6m for Cork’s Capitol building (The Times/£)
WEEKEND PAPERS: German property company Real IS has paid €45.6m to acquire Cork’s Capitol building for a German pension fund.
