In the news this morning, easyProperty and GPEA are planning a £60m merger that will allow them to have the best of the online and traditional estate agency markets. Plans to be put before members for a vote in September could see 97 flats built at Lord’s cricket ground. Annual house price growth is the lowest in four years, and prices fell on a quarterly basis.
EasyProperty and GPEA to merge (The Telegraph/FREE)
EasyProperty is set to merge with GPEA, the parent company of the Guild of Property Professionals, in a deal estimated at £60m.
Lord’s cricket ground could get 97 flats (The Telegraph/FREE)
A green paper detailing plans to build apartments at Lord’s cricket ground is to be sent to the club’s members for approval this week.
Annual house price growth lowest since 2013 (The Independent/FREE)
Data from Halifax revealed house-price growth of 3.3% on the year in May, the lowest in four years, although an on-month rise of 0.4% was the first increase since the beginning of the year.
Housing market activity stalls prior to election (The Guardian/FREE)
Housing market activity stalled in May, as households held off making a decision to move until the general election is decided, according to the latest survey by the RICS.
Taveta’s pretax profit drops 79% (The Times/£)
Taveta Investments, the holding company for Sir Philip Green’s retail activities, recorded a 79% drop in pretax profit in the year ended 27 August, to £36.8m.
UK economy to slow amid Brexit uncertainty (The Guardian/FREE)
The UK economy is set to slow this year and next amid uncertainty about Brexit negotiations, the Organisation for Economic Cooperation and Development warned in an economic update.
