Were it not for the forbearance of the banks and indirectly quantitative easing – which allowed the builders to repair balance sheets through rights issues, share placings and capital reorganisations – most of the big names would have sunk without a trace.
Many of the better known builders have come bouncing back but the philosophy of the managers who brought them back from the dead is very different from that of their predecessors.
Leverage has been cut right back and, despite an urgent need in
Projects are carefully pre-financed and the focus has been on improving margins rather than rushing headlong into speculative building and placing investors at risk again.
The results from
What is clear is that planning processes have improved and outside of London Help-to-Buy (part-one that provided mortgage assistance) is bringing life back to the regions. The climate has improved sufficiently for
It has called in Rothschild to advise on the sale of the company that specialises in trendier 'open plan' homes.
In the run up to the election we can expect the Tories and Labour to be at each other's throats over the national housing shortage.
But one of the problems is that the squeeze on local government finances means that even though planning arrangements are now more flexible there is less money around for joint financing of infrastructure such as roads, schools and drainage systems.
It is also worth noting that the biggest hoarders of land are not private landowners but HMG, which is why such ideas as a derelict land tax, making landowners pay for leaving property fallow, would not help very much.
In my own neighbourhood the old
It will require a property czar in the manner of former Olympics chief executive
Private healthcare in the
It is against this unprepossessing background and the recent failure of Saga, that operates home care services, to impress investors that private equity firm
Spire operates 38 private hospitals across the country although it has none in the central
Bringing private sector skills into play must be good, yet one cannot help but think that the original non-profit form of
The US-based short-seller
Last week Gotham questioned the accounting and management failings of
Now the firm has declared bankruptcy and its founder chief executive
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