In the news this morning, house price growth picked up in London after hitting a multi-year low, possibly indicating the market there could be reaching a bottom. Housing starts reached their highest level since the financial crisis, but are still well below the level targeted by the government. Housing associations have cut the number of supported homes they plan to build by 85% following the government’s decision to cap benefits paid to social housing residents.
London house price growth strengthens in July (The Telegraph/FREE)
The slowdown in house price growth in London may be reaching a bottom, with data from Hometrack showing prices there were 2.8% higher on the year in July, accelerating from a rise of 2.3% in the previous month.
Annual housing starts highest since 2008 (The Times/£)
Housing starts rose by 13% to 164,960 in the year to June, the highest figure since 2008, figures from the Department for Communities and Local Government show.
Housing associations cut number of planned supported homes by 85% (The Guardian/FREE)
Housing associations have cut the number of specialist homes they are planning to build by 85% amid concerns about welfare cuts, according to analysis by the National Housing Federation.
Gross mortgage lending rises to £23bn (The Times/£)
Gross mortgage lending rose to £23bn in July, driven by first-time buyers and remortgaging activity, figures from UK Finance show.
National Trust tenants face sharp ground rent rises (The Times/£)
National Trust tenants are facing sharp rises in ground rents, some of up to 10,000%.
Stonegate improves bid for Revolution Bars (The Telegraph/FREE)
Stonegate’s improved offer of 203p per share in Revolution Bars has received the backing of the latter’s board, but rival Deltic said it was evaluating a possible cash bid.
Costcutter close to a deal (The Telegraph/FREE)
Costcutter could be about to join other retailers stirred into dealmaking after Tesco’s move to acquire Booker at the beginning of the year.
CBI survey shows sharp drop in retail sales (The Independent/FREE)
The balance of 2 in the Confederation of British Industry’s August distributive trades survey was the lowest since July last year.
CRH sells US distribution business for $2.6bn (FT/£)
CRH has announced the sale of its US distribution activities for $2.6bn to Beacon Roofing Supply, and will use the proceeds to expand elsewhere.
Japan’s Softbank and fund to invest $4.4bn in WeWork (FT/£)
Japan’s Softbank and its technology fund will invest $4.4bn in WeWork.
