London house prices to climb five per cent in 2016, says Royal Institution of Chartered Surveyors December 22, 2015 London house prices will climb five per cent next year as the shortage of homes coming to the market and rising demand lifts prices, according to a new forecast. The Royal Institution of Chartered Surveyors (RICS) said prices were forecast to go up despite the launch of government initiatives to boost homebuilding. However, London price growth is [...]
Prime London residential rental growth slows to 17-month low as bank job cuts hit demand December 21, 2015 Job cuts and declining optimism at European banks has dragged rental price growth in London’s prime property market to its lowest level in 17 months, according to Knight Frank. The estate agency’s latest prime central London rental index fell by 0.4 per cent in December from the previous month, on the back of falling demand [...]
EU extends Russia economic sanctions by six months December 21, 2015 The EU is extending economic sanctions against Russia by six months, it announced today. The sanctions, which were introduced in the July last year in response to Russia’s involvement in the annexation of Crimea in Ukraine, will stay in place until 31 July 2016. EU leaders linked the duration of the sanctions to the completion [...]
Fitch: Inconclusive Spain vote increases fiscal and reform risks December 21, 2015 Spain could be at risk of having its credit rating downgraded after elections yesterday left the country facing a period of political uncertainty. Spanish party leaders will negotiate over the coming weeks with Prime Minister Mariano Rajoy’s People’s Party (PP) securing only 123 seats – the highest of any party but short of a majority. If [...]
Eurozone consumer confidence edges up in December December 21, 2015 Consumer confidence in the Eurozone ticked up this month, according to figures released today. The flash consumer confidence indicator compiled by Eurostat, the statistical office of the European Union, climbed 0.2 points to a score of minus 5.7. Flash data is an estimate based on a The rise builds on November's surge and shows consumers are more confident [...]
Turmoil: Oil price rebounds slightly from 11 year lows recorded earlier in the day December 21, 2015 The price of oil has recovered somewhat from its 11 year lows earlier on today, continuing the sell off that was sparked by oil cartel Opec’s decision not to curb production earlier this month. Early this morning the price of Brent crude hit $36.05 before bouncing back to around $36.35. In the US, the price [...]
By redefining the list of public securities eligible for purchase through the QE back door, the ECB has transformed the euro rescue mechanisms into a Ponzi scheme December 21, 2015 Before and after Mario Draghi’s last press conference, the professional public focused on the scale and duration of the Public Sector Purchase Programme (PSPP). Meanwhile, critical observers of the ECB had already taken a close look at the inner workings of the programme. Interestingly enough, the ECB from the very beginning of QE, made it clear [...]
Want Christmas to last all year? You could buy a house on Holly Street for £194,465 December 21, 2015 If you want your Christmas spirit to last all year, try investing in a property on Christmas Lane or Holly Street – they'll be more affordable, and closer to the shops than the North Pole. Fewer pesky reindeer grazing outside, too. Data from Knight Frank has revealed the most popular festive street names include Holly, while the most [...]
Bank of England’s Martin Weale says an interest rate rise is less urgent December 21, 2015 Bank of England rate setter Martin Weale has signalled a less hawkish tone on interest rates, saying the need for them to rise was "less immediate". Downward pressure on inflation, weak wage growth and falling commodity prices has given the monetary policy committee (MPC) more breathing space than expected, Weale told the Daily Telegraph. "I initially thought that the weak [...]
Universal Credit will simplify the system but will not stop delays in benefit delivery, says Work and Pensions Select Committee report December 21, 2015 Universal Credit will help to simplify the benefit system and will be less likely to be subject to mistakes, but it may not stop delays in benefit delivery. A report published today by the Work and Pensions Select Committee has highlighted that the introduction of Universal Credit, which is designed to roll six separate benefits [...]