Foxtons Share Discussion Threads

[ny boy] 19/1/2016 19:24

Global Witness’ recent reports have shown that London’s high-end property market is one of the go-to destinations to give questionable funds a veneer of respectability (1). This kind of access to the financial system entrenches the corruption that keeps citizens in poor countries poor and threatens global stability.

It is currently far too easy for the criminal and corrupt to launder money through luxury property, hiding the real owners behind anonymous companies, often registered in secrecy jurisdictions like the BVI and hidden behind “nominee”; directors. According to Transparency International (UK), at least £122bn worth of property in England and Wales is now owned by companies registered offshore, and 75% of properties whose owners are under investigation for corruption made use of this kind of secrecy.

Global Witness is calling for all companies that own UK property to be required to tell the Land Registry who their beneficial owners are, and for the UK to convince the British Overseas Territories and Crown Dependencies to create their own public registers of beneficial ownership.

“There is an urgent need for transparency in the UK’s property market and its system of company ownership. Our research shows that the housing market is a big blind spot in the UK’s anti-corruption fight, and that has dire consequences. Some of the Gaddafi family’s stolen loot ended up in London – a famous example but far from a one-off. Unless we know who is behind these companies and where their money has come, the cash will keep pouring in,” said Chido Dunn.

The UK government has also committed to examining whether there is a case for insisting that any non-UK company wishing to bid on a contract with the UK government should also publicly state who really owns it. This is another welcome move, as just last week the World Bank made a similar commitment in relation to companies participating in Bank-financed contracts.

/ ENDS

[ny boy] 19/1/2016 13:23

GBP getting hammered again, after yet another dead cat bounce..brutal that trade!

[dt1010] 19/1/2016 13:12

Haha...they are highly undesirable! Rates on hold for a lot longer!! Carney just put a floor under property again.....

QE4 is coming.... Get ready to buy the market for the next funny money splurge.... Kick that can down the road....there's no other alternative!

[albanyvillas] 19/1/2016 12:57

can we have a new thread. Foxtons - highly undesirable shares

[ny boy] 19/1/2016 12:57

If it was any other paper than the Daily Mail!🙄

[dt1010] 19/1/2016 12:13

QE4 will come and kick the can down the road again...the result? A massive bounce in global equity markets and a continuation of house price growth!



A lasting asset value collapse will NEVER come.....the politicians and central banks will just keep inflating the money supply......the deflationary alternative is the last thing anyone wants, no matter how right wing, how left wing, how rich or poor, it is a no win outcome for everyone.

[dt1010] 18/1/2016 22:32

You are talking to yourself little boy hahahaha

[ny boy] 18/1/2016 19:19

If you check listing above £2/3M for prime London, very little is selling, more has come on the market but buyers are very, very scarce indeed. The energy/commodity crash has certainly dented any interest for a long while.

[dt1010] 18/1/2016 18:37

Haha empty barrels make the most noise NY yaaaawn

[ny boy] 18/1/2016 13:54

Depends what area are the completions taking place?

[ny boy] 17/1/2016 22:29

The over-heated London market is particularly vulnerable to trouble abroad, given that its runaway growth has been fuelled by foreign money.

Investors from China, Russia, Saudi Arabia and other lands succumbing to the global financial crisis could trigger a sell-off by rushing for the exits.

There are signs the prime London market is beginning to crack, with prices falling 8.7 per cent in the last year, according to Your Move.

This could be seen as an early warning to the rest of the market.

Any house price crash will be less dramatic than the share crash as it takes months to sell a property whereas you can dump shares in seconds, but if global troubles continue, the housing market cannot escape unscathed.

[dt1010] 14/1/2016 19:55

As you keep saying NY, yawn, as you keep saying....

[ny boy] 14/1/2016 15:27

London, biggest global property asset bubble, will follow the energy & commodity bubble collapse over the next 12/18months. The correction is already underway, I have noticed a surge in prime properties coming up for sale, dumping on top of the other hundreds and thousands of unsold property.

Sp will drop to fresh lows this year.

[ny boy] 13/1/2016 17:56

Tightening the screws in the US, same thing has started in London, time to drive out the dirty money, stolen from overseas Countries. That will speed up the collapse, crooks can't find anymore crooks to sell too!

[dt1010] 12/1/2016 20:56

The market in most of Foxton's areas is SH1T.

LettinGS is thriving but sales? AWFUL.

[hillofwad] 11/1/2016 16:42

Could be tomorrow ,the day after and if it does I suspect the founding shareholders will be seeking an opportunity to jettison as much stock as they can before it commences its downward trend again Apart from Savills all estate agency ultimately floats end sup in tears as the fee earners have no stake in the business

[joemillion] 11/1/2016 15:09

£2.00 today or tomorrow?

[ny boy] 10/1/2016 17:25

The party for all global asset bubbles is over, London property is next, even though it did top out last year, takes time to really kick in, this year will see significant falls in central London.

[a1samu] 06/1/2016 10:30

Someone is wrong. Foxtons have the cash and appetite to keep on purchasing their own shares. WHY? If all is gloom and doom?

[ny boy] 05/1/2016 02:24

High-end residential real estate in New York and London has a sharp downturn. Russian and Chinese buyers disappear from the market in both places. Low oil prices cause caution among Middle East buyers. Many expensive condominiums remain unsold, putting developers under financial stress.

[dt1010] 21/12/2015 16:21

Er kMann....ITS A FACT. Thou dost protest too much. Take a chill pill

[ayl30] 21/12/2015 15:29

I was talking to a solicitor last eve, they said they had 18 property completions for this week vs. 12 last year. Shows there is buoyancy in the market.