Institute of Directors: Company profits at risk from an interest rate rise by the Bank of England December 31, 2015 One of Britain's biggest business groups has warned company profits peaked in 2015, and they'll be crunched when the Bank of England eventually raises borrowing costs for the first time in more than six years. The Institute of Directors (IoD) said the bank's rate-setters has exercised caution thus far, but they'll have "no choice" but [...]
Wages rose for the first time in eight months in November December 31, 2015 Wages rose for the first time in eight months in November, and they could be set to rise further, despite average advertised salaries declining across the board in 2015. Monthly average advertised salaries rose 0.2 per cent to £33,112 in November, up from £33,043 in a month earlier according to Adzuna. "November could be a turning [...]
Economic impact of Storms Eva, Desmond and Frank could hit £3bn December 30, 2015 The UK economy could be dented by as much as £3bn by damage from Storms Eva, Desmond and Frank. PwC said economic losses from the storms Desmond and Eva will be between £1.6bn and £2.3bn, while insured losses will hit £900m-£1.2bn. "Based on the currently available information, our understanding is that Desmond and Eva combined had at least 11,500 [...]
New buy-to-let rules are the biggest reason for rent rises in 2016 December 30, 2015 New rules introduced by the government for buy-to-let investors are the biggest reason that rents will rise next year, new research reveals. Nearly half of landlords surveyed by flatshare website spareroom.com said they will raise rent in 2016, with more than a third of them saying it was down to the increased costs incurred from new legislation, the [...]
CIPD: The Bank of England and the Office for Budget Responsibility are wrong about wage growth in 2016 December 30, 2015 Wage growth next year won't be as optimistic as the Bank of England and Office for Budget Responsibility (OBR) anticipate, the Chartered Institute for Personnel and Development (CIPD) has warned. Despite the introduction of the National Living Wage, wage growth will remain at two per cent in 2016, the organisation said – much lower than [...]
UK house price growth hit an eight month high in December, Nationwide House Price Index finds December 30, 2015 December was a bumper month for property as house prices experienced their biggest monthly rise in eight months, new figures reveal. House prices in the UK grew 0.8 per cent on November, the largest increase since April when prices rose one per cent on the previous month, with the average price coming in at £196,999 at the [...]
House prices: The UK’s homes rose in value by £1.4bn a day in 2015 December 30, 2015 Like big numbers? Read on… The UK's homes rose in value by £1.4bn a day in 2015, giving our collective bricks and mortar a total value of £7.76 trillion by the end of the year, according to figures by online property portal Zoopla. That figure is £519bn – or 7.2 per cent – higher than last [...]
The UK’s spending power fell to its lowest in 12 months in November December 29, 2015 It seems the UK's shoppers are feeling less flush, after a new survey found they had £193 of spare cash last month – that's £14 a week, compared with November last year. But while Asda's Income Tracker suggested weekly income has now risen by double digits for 13 months in a row, it was lower than the £17 [...]
Newham is the UK’s top house price performer for 2015 December 28, 2015 Newham has taken the accolade for the UK's top house price performer in 2015, according to new research by Halifax. The borough recorded the biggest percentage rise in house prices among all major UK towns and cities over 2015, with the average house price in the borough rising 22 per cent against the previous year. The average [...]
Boxing Day sales 2015: UK footfall soars to defy online sales which dominated Black Friday and Christmas Eve December 27, 2015 Black Friday and pre-Christmas shopping may have been a letdown for brick and mortar retailers, but Boxing Day certainly delivered. In-store shopper traffic soared by 3.36 per cent year-on-year on 26 December, according to data from retail intelligence firm FootFall, showing that the rise is mainly driven by an increase in shopping centre footfall counteracting [...]