The average UK house price is now growing at twice the rate of London property October 14, 2015 What a difference a few months can make. Having once been seen as pulling up average UK house price growth, it seems London is now having the opposite effect, dragging the national average down, according to new figures. The National Housing Market Monitor, by estate agent Haart, found UK house prices grew 10 per cent to [...]
World wealth rankings: Here’s where the world’s millionaires live (spoiler – the number of UK super-rich is about to double) October 14, 2015 The UK is home to more of the world's millionaires than anywhere else in the world, apart from the US, and that number is only set to grow in the next five years. More than two million millionaires call the UK home, and rising numbers have caused the UK to jump two places ahead of Japan and [...]
Chinese economy: Weak inflation figures rekindle investors’ worries over China slowdown October 14, 2015 Weak data from China pulled Asian markets down overnight, as consumer inflation fell back and producer prices continued their deflation unabated. The country’s consumer price index fell from its 13-month high of two per cent in August to 1.6 per cent in September, dragged by slowing food prices. This is lower than economists had predicted, as [...]
Londoners pay a quarter of the UK’s £3bn total inheritance tax – Prudential October 14, 2015 London and the South East pay half of the country’s £3bn inheritance tax bill, new research from Prudential reveals today. The latest publicly available data on tax receipts show that inheritance tax – informally referred to as a death tax – was paid on 17,900 estates across the whole of the UK in the year [...]
British Chambers of Commerce wants a return to compulsory work experience for under-16s October 14, 2015 A body that represents nearly 100,000 UK businesses has called for work experience for under-16s to be made mandatory. Survey results published today by the British Chambers of Commerce (BCC) show 82 per cent of business bosses and 73 per cent of education leaders believe pupils should be offered work experience. “Business and school leaders [...]
Iran comes closer to opening economy as parliament approves nuclear deal October 13, 2015 Iran has moved a step closer to opening up its economy for business, after its parliament passed a bill approving a nuclear deal with six world powers this morning. The deal, which requires Iran to curb its uranium enrichment programme in return for an easing of economic sanctions, was passed with 161 votes in favour, [...]
Nine amazing facts about the world’s wealth right now according to Credit Suisse’s 2015 Global Wealth Report October 13, 2015 Credit Suisse has published its annual Global Wealth Report, one of the most comprehensive tools analysing the changing face of wealth across the world over the last 15 years – and how that will change over the next five years. Here are the nine key things you need to know. 1. Global wealth has fallen [...]
London house prices: This is how frenzied demand for London’s super prime homes became between 2007 and 2014 October 13, 2015 London's super-prime residential market may have cooled somewhat over the last year since tougher stamp duty rules came into force earlier the year. But new research seen today by City A.M. reveals just how frenzied the sales of £10m-plus homes in the capital’s golden postcodes surrounding Hyde Park has become since the financial crisis. Read [...]
German investor sentiment hit by VW scandal and declining emerging markets October 13, 2015 German investor confidence plunged in October, as the VW emissions scandal and slow growth in emerging markets took their toll. Thank tank ZEW put its monthly measure of economic sentiment at 1.9 – a fall of 10.2 points from 12.1 in September, and the lowest level it has reached since this time last year. The [...]
UK house prices: Buy-to-let lending drove the mortgage boom in August, according to the Council of Mortgage Lenders October 13, 2015 Mortgage lending ticked up in August compared with the same month last year, with buy-to-let lending posting a rapid increase. There was a whopping 37.9 per cent jump in buy-to-let lending on the year, with 22,200 mortgages approved. The amount of money lent out was up 47.8 per cent to £2.3bn, according to the figures released this morning [...]