London house prices: stamp duty reforms put brakes on the capital’s prime property market December 2, 2015 George Osborne’s tougher stamp duty regime has put the brakes on London’s prime housing market, Knight Frank figures show, as annual price growth slowed to 0.9 per cent in November. The upmarket estate agency said annual growth has fallen to its lowest level since October 2009, with a monthly decline of 0.3 per cent contributing [...]
The US Federal Reserve is on course for a December interest rate hike, hints Janet Yellen December 2, 2015 The Federal Reserve is on course to raise interest rates from record lows this month, the US central bank's chair has signalled, provided there are no economic data surprises over the next two weeks. “Many FOMC participants indicated in September that they anticipated, in light of their economic forecasts at the time, that it would [...]
Atlanta Federal Reserve president Dennis Lockhart backs December US interest rate hike December 2, 2015 The president of the Atlanta branch of the US Federal Reserve has reiterated his current support for a December lift-off in interest rates. “Absent information that drastically changes the economic picture and outlook, I feel the case for liftoff is compelling,” Dennis Lockhart said today. “I think the economy is closing in on full employment.” [...]
Sir Charlie Bean blasts UK’s “outdated” Office for National Statistics December 2, 2015 The UK’s Office for National Statistics has failed to keep up with the times, a new independent report has said today. The ONS needs to make better use of technology, utilise different private and public sector data sources, and reinvest in a London presence, according to the interim review led by Sir Charlie Bean. The [...]
Insecurity of tenure, inadequate legal protection and a lack of publicly available information: The UK’s dysfunctional rental market is due a shake-up December 2, 2015 Insecurity of tenure, inadequate legal protection and a severe lack of publicly available information on individual rental properties are just some of the woes reported by this country’s nine million renters. But for me, by far the worst characteristic is the breath-taking amateurishness which underpins every aspect of the rental experience. The Private Landlords Survey [...]
Hargreaves Lansdown’s Wealth 150: Why exceptional fund managers remain the exception December 2, 2015 Hang onto your hat – 97 per cent of active fund managers aren’t worth their salt. Perhaps surprising coming from someone who makes a living researching actively managed funds, but before you rush for the door, let’s delve a little deeper. This week marks the 12th anniversary of Hargreaves Lansdown’s Wealth 150, which lists the funds [...]
Government housing minister Brandon Lewis has admitted defeat in the face of the housing crisis: Generation Rent can’t make a “judgement call” about where they live December 2, 2015 The government has admitted defeat in the face of the London housing crisis. At least, that was the conclusion I drew yesterday when the housing minister told people hoping to stay in London to make “a judgement call about what you can afford and where is right for you”. By being “up front about the [...]
Drop in core Eurozone inflation gives European Central Bank extra incentive to boost asset purchases tomorrow December 2, 2015 Annual inflation in the Eurozone was 0.1 per cent last month, according to official estimates released this morning, but core inflation has fallen below one per cent, offering European policy makers extra encouragement to boost their asset purchase programme tomorrow. Inflation was unchanged from October, yet core inflation, which excludes the impact of low energy prices, fell [...]
UK house prices: Residential building growing at its slowest rate for two years as the construction sector loses steam December 2, 2015 UK housebuilding came off the boil in November, according to new figures published this morning, as the construction sector slowed considerably. Markit’s purchasing managers’ index showed house building increased at its slowest rate since June 2013. The overall PMI for the construction sector dropped to a score of 55.3 – its lowest since April, but [...]
UK and London house prices: Where to buy a new build house for the most space? Surprisingly, London December 2, 2015 A new build home may come with all the mod cons, shiny new floors, and fewer problems than a quaint Victorian pad – but buyers are likely to be sacrificing space. Architects have criticised the "rabbit-hutch" homes being built across the country, after new research found most are too small to live in for the average family. Buyers outside the capital are missing out on [...]