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...HOLD: Caledonia Mining Corporation (CMCL) The Zimbabwean gold miner is growing, but was buffeted by operational difficulties and higher costs, writes Alex Hamer....
Rightmove data comes against a backdrop of recent volatility in mortgage market
Official figures highlight impact of higher borrowing costs on landlords and tenants
...The data, a snapshot of the health of the housing market, suggests the residential market is recovering as the squeeze from higher borrowing costs seen over the past two years eased....
...Even the inventory of new homes dipped a bit in 2023, as high mortgage rates put a damper on Americans’ desire to finance anything....
...Rising costs squeeze the profitability of developers who need a steady sales pipeline to finance more supply....
...Second-hand home sales surpassed those of new homes by floor space last year for the first time since private property markets emerged in the 1990s, according to data from the China Real Estate Information Corporation...
...In the UK Finance figures, buy-to-let loans or remortgages were down by 53 per cent....
...But Chris Sykes, consultant at broker Private Finance, said the minimum five-year fix would allow borrowers time to work through any short-term fluctuations in property prices and for the mortgage balance...
Nationwide data reflects impact of recent rise in mortgage rates
...According to the finance ministry, corporation tax receipts for November, typically a bumper month, reached €6.3bn ($6.8bn), a 27 per cent or €1.3bn rise on the same month last year....
...Tom Bill, head of UK residential research at estate agency Knight Frank, said “an issue of affordability” had been the “primary reason” for London’s underperformance over the past eight years....
...UK Finance, the industry body, has estimated that about 1.6mn fixed-rate deals will end over the course of 2024....
Number of sellers listing in the capital this week was up by 39 per cent on the previous week
...Residential real estate exemplifies this challenge with its physical immobility, high transaction costs, and concentrated wealth....
...They asked the Treasury to create a carve out that would maintain the tax breaks for “large-scale residential property acquisitions”....
...“We have built nearly 10,000 over the past five years and the vast majority of these have been for affordable tenures, but finances are no longer working.”...
...Simon Gammon, managing partner at broker Knight Frank Finance, said: “The recovery in housing market activity is taking hold despite an uncertain start to the year for mortgage rates.”...
...Tom Bill, head of UK residential research at estate agency Knight Frank, said: “The economic data has fluctuated since Christmas but the direction of travel for the housing market is up as mortgage rates...
FT Money is seeking comments from readers who have taken out such a mortgage or rejected the idea
...It is a similar story in the residential market....
...According to the finance ministry, corporation tax receipts for November — typically a bumper month — were €6.3bn, a 27 per cent or €1.3bn rise compared with the same month last year....
...Chinese shipbuilders — led by the China State Shipbuilding Corporation and its subsidiaries — control about 46 per cent of the global shipbuilding market as of 2023 by total order book value for container...
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