Wilson Bowden subject of takeover talks

Trump tees up £1bn Scottish venture

Sutton Kersh Binstock announce debut auction

New tube station for White City hub

Brown faces questions on Olympic bill

Immigrants 'keep us competitive'

Buy-to-let market slowdown

Wilson Bowden subject of takeover talks

Housebuilder Wilson Bowden, which is valued at over £1.7bn, has announced that it has been the subject of takeover interest from numerous parties, which are thought to include companies such as George Wimpey, Bellway and Redrow. Speculation came after company chairman, David Wilson appointed advisers to review his family's 33% stake in the business.

Trump tees up £1bn Scottish venture

US tycoon Donald Trump plans to construct a Scottish golf resort that could cost in the region of £1bn. Trump wants to build what is described as the 'greatest golf resort in the world' on the Menie Estate near Aberdeen. Preliminary plans for the 570-hectare development include new residential housing, two championship golf courses, a five-star hotel and a golf academy.

Sutton Kersh Binstock announce debut auction

Sutton Kersh Binstock has announced that they will hold their first ever London-based auction on 22 nd March 2007 at the Ramada Hotel in Watford.

Andrew Binstock, of Sutton Kersh Binstock, commented: “We have developed a really slick and well run operation in Liverpool and are looking forward to bringing much of that to our office in London whilst obviously targeting new dealers, investors and developers down south. We are looking forward to mixing it with the bigger players and stamping our authority on North London, Hertfordshire and Middlesex.”

New tube station for White City hub

A new underground tube station which is currently under construction on the Hammersmith & City Line will be known as Wood Lane, when it opens in 2008. While the existing Shepherd's Bush station will be renamed Shepherd's Bush Market.

Wood Lane , which will be situated between Shepherd's Bush Market and Latimer Road Stations, will be the first new tube station on the existing tube line for over seventy years.

Mayor Ken Livingstone said: "The new Wood Lane station and renaming of Shepherd's Bush station is the latest step in the massive improvement of transport links for west London."

Local property prices may now be set to rise further on the back of west London's improving transport facilities.

Brown faces questions on Olympic bill

Gordon Brown has come under attack for the spiralling Olympic costs. The Chancellor is accused of approving an open-ended budget for the 2012 games and faces criticism over his VAT rules by the Liberal Democrats by the Liberal Democrats.

The intervention follows culture secretary Tessa Jowel's admission last week that the estimated cost of constructing the Olympic facilities has risen from £2.4bn to £3.3bn.

Lib Dems treasury spokesman Vince Cable said: "Ministers have said there would be favourable tax treatment for the Games but no one appears to have realised that this had major implications for the VAT status of the Olympic delivery vehicle.

"Hundreds of million of pounds of taxpayers money is at stake. I am pressing for a clear explanation of precisely what role the treasury and HM revenue and customs have played."

The Conservative MEP for London, Syed Kamall commented: "Many London taxpayers and lottery players want to know exactly how much they will pay.

Immigrants 'keep us competitive'

Immigration into Britain from Eastern Europe has helped the economy, according to an all-party group of peers. This In turn should help keep interest rate down. The influx of a highly-skilled, low-cost work force from new member states helped companies cope with the growing competitive pressures from Asia, whilst boosting demand for rental accommodation. However, the enlarged EU would need institutional change to function effectively, according to the House of Lords EU select committee.

Buy-to-let market slowdown

The number of properties coming onto the market to let has fallen to its slowest pace since the second quarter of 2005, suggesting that buy-to-let investors have become more cautious as a result of the recent interest rate rise.

RICS report that 6% more Chartered Surveyors reported a rise than a fall in instructions to let property, compared to 13% in the last quarter. While only 9% more chartered surveyors suggested the number of instructions to let flats had risen compared to 19% in the previous quarter.

Demand for rental accommodation remains solid reflecting a combination of factors, including a strong economy and rising migration, especially from Eastern Europe, according to Chartered Surveyors.

Gross rental yields fell for the first time in two years, as house prices rose faster than rents, squeezing income investors. Gross yields were 4.6% in October compared to 4.8% the same time last year.

RICS spokesperson Jeremy Leaf commented: "The recent interest rate increases have painted the buy-to-let market as a less than favourable investment. With profit margins potentially reduced, affordability conditions could bite hard into investor’s pockets and push up rents if interest rates rise further in 2007.

"But investors continue to express a high level of confidence in the longer-term buy-to-let market as selling activity remains low. With interest rates still relatively low and the economy gaining steam, first-time buyers are again placing a tentative toe in the property market."