Investors pulled almost £3bn out of UK property funds over the past year, highlighting the toll that extended Brexit uncertainty and high street gloom have had on the sector. Data prepared by Morningstar shows that £2.8bn was taken from 15 open-ended commercial property funds that offer daily liquidity to investors, putting pressure on the cash buffers used to cover customer withdrawals. One of the UK’s largest property funds, M&G, was suspended earlier this week after almost £1bn was withdrawn by investors over the past year. The Aberdeen UK Property Fund was the second-worst performer and suffered about £773m in cash withdrawals. However, cash levels in the M&G fund slumped to only 5% before it was forced to suspend the fund. The Aberdeen fund’s cash levels stood at 10.9% in October but have since been raised to 12.7%. M&G’s £2.5bn fund had a relatively high exposure to the troubled retail property sector, accounting for about … [Read more...] about Investors pull £2.8bn out of UK property funds amid high street gloom
Roy wheeler real estate
UK house prices rebounded in November despite continued uncertainty around the outcome of Brexit and the upcoming general election, according to Britain’s biggest mortgage lender. The average price of a home rose 1% to £234,625 last month, Halifax said, marking the largest monthly rise since February. It signals a slight recovery after two months of declines and means home prices are 2.1% higher than a year ago. Prices have increased by £3,904 since the start of the year and Halifax said they will continue to make “modest gains” into the new year. Russell Galley, the managing director of Halifax, said: “While a degree of uncertainty remains evident, it’s also clear that buyers and sellers are responding to factors such as improved mortgage affordability and the limited supply of available properties. “It is these issues which we believe will continue to underpin the resilience evident in the market for most of 2019. Over the medium term we … [Read more...] about UK house prices rise despite uncertainty over Brexit and election
Auckland, New Zealand's largest city, consistently ranks among the world's 10 least affordable for housing in the annual Demographia International report. All three major cities in the country — Auckland, Christchurch and Wellington, the capital — are categorized as "severely unaffordable." As a result, smaller towns are seeing an influx of people who are relocating in the hopes of finding cheaper housing solutions, only to discover that the new demands have also caused real estate prices to rise in smaller towns. In Tauranga, a small northern coastal town with a population of 128,000, average property values have increased from NZ$304,000 (€176,000) to NZ$497,000 (€288,000) in the last five years. The Demographia report now ranks Tauranga among the least 10 affordable cities in the world along with Hong Kong, San Francisco and Vancouver. Read more: New Zealand PM slams book sales of Christchurch shooter's 'manifesto' Asian 'stereotypes' prevail … [Read more...] about Asian communities become scapegoats in New Zealand’s housing crisis
On Tuesday night, Kyle Richards fired off 29 tweets about her feud with former Real Housewives Of Beverly Hills co-star Lisa Vanderpump. And not surprisingly, Vanderpump, 58, has some fire of her own. The reality TV star clapped back on Thursday, responding to a fan's tweet: '...if I wanted to hurt any of them there were so many things going on, lawsuits, bankruptcies, shops failing, shows cancelled, loans in default etc and I never said a word.' Clap back: Lisa Vanderpump clapped back on Thursday, responding to a fan's tweet: '...if I wanted to hurt any of them there were so many things going on, lawsuits, bankruptcies, shops failing, shows cancelled, loans in default etc and I never said a word' According to US Weekly, Vanderpump was likely referring to Richard's show American Woman, which aired for one season on Paramount Network, the closure of her shop Kyle by Alene Too, and a lawsuit Richards' husband Maurcio Umansky and his real estate company The Agency has been … [Read more...] about Lisa Vanderpump responds to Kyle Richards’ epic Twitter rant and claims she kept quiet amid turmoil in the RHOBH family
After a grueling two-year struggle to get verified on Instagram, Nasser Sultan has finally received his blue tick. Speaking to Daily Mail Australia on Friday, the former Married At First Sight star admitted that he was emotionally drained from the ordeal, but said that he was ultimately elated to be verified. 'After two years in the wilderness of social media and fourteen attempts at getting verified, I finally have the stamp of approval and respect that I deserve,' he said proudly. Woo-hoo! After a grueling two-year struggle to get verified on Instagram, Nasser Sultan has finally received his blue tick 'Australia's number one celebrity has been granted - look out for the tour and merchandise!' The 52-year-old said that he's become 'too big to ignore' now, and even revealed that he's already lined up his next big reality TV gig. RELATED ARTICLES Previous 1 Next Sour grapes? The Bachelor's first boot Sophie Oddo deletes... EXCLUSIVE: Bachelor 'villain' Rachael … [Read more...] about Married At First Sight EXCLUSIVE: Nasser Sultan finally gets his ‘blue tick’ on Instagram after being left destitute amid financial woes – but is it too little, too late?