Mario Draghi: Beware risks from surge in money printing May 14, 2015 Printing money can cause turbulence in financial markets, and could cause wealth inequalities to rise, European Central Bank (ECB) boss Mario Draghi warned yesterday. But the ECB President said that failing to act could be even more dangerous, and promised to carry on with ultra-low interest rates and quantitative easing “as long as needed for [...]
Business backs Mark Carney’s push for in/out EU referendum vote May 14, 2015 Business leaders welcomed Bank of England governor Mark Carney’s comments yesterday, calling for the government to act with “appropriate speed” in pushing through an in/out referendum on Britain’s EU membership. In a radio interview with the BBC, Carney said it was “in the interests of everybody” to answer questions surrounding the UK’s relationship with the EU, adding [...]
UK house prices in charts: Growth in London is beaten by other regions for the first time in 53 months May 14, 2015 London has been knocked off its perch as the region with the fastest-growing house prices for the first time in 53 consecutive months, or nearly four and a half years. Annual house prices, on average, grew by 6.8 per cent in the three months to the end of April, falling behind both the south east (7.1 per cent) and [...]
UK house prices: Are low deposit mortgages propping up the housing market? May 14, 2015 The number of people buying houses with low-value deposits has risen by 7.3 per cent in the last year, according to data analysis by chartered surveyors e.surv. The figures Lending to borrowers who have only small deposits (15 per cent or less of the property’s value) accounted for 16.3 per cent of house purchases in April, [...]
UK house price growth means regional rents are now rising faster than in London May 14, 2015 London’s rental prices are no longer the fastest growing in the country. Other regions have outstripped the capital, with the south west the leader with a whopping 15.5 per cent growth in the last year. The figures According to Homelet, UK rental prices for the three months to April rose by 10 per cent, and [...]
Greek government moves to rule out a bailout referendum May 13, 2015 A leading member of the Greek government yesterday insisted that a referendum to secure government support for its bailout strategy is not on the cards. It will instead try and reach a compromise with its lenders. Interior minister Nikos Voutsis said “We are working towards an honourable compromise. An immediate recourse to a referendum or [...]
Surveyors say housing level at crisis point as rising UK house prices and weak supply spark “national emergency” May 13, 2015 House prices across the country climbed further last month as new listings fell at their fastest rate in six years, according to a new report published today. Thirty-three per cent more surveyors nationwide, and 28 per cent of respondents in the capital, saw prices rise in April, according to the latest Royal Institution of [...]
What will the new government do to build more affordable homes? May 13, 2015 Housing charity Shelter says 250,000 new homes need to be built in England each year to keep up with population increases. But current housebuilding rates are nowhere near those levels. According to the department for communities and local government, just under 120,000 homes were completed last year. On the campaign trail, the Conservatives made a [...]
US oil agency IEA warns battle for market share has just begun May 13, 2015 The battle for market share in the oil sector has just begun, according to the International Energy Agency’s (IEA) monthly report. The warning follows a report from the Organisation of Petroleum Exporting Countries (Opec) on Tuesday, which stated that US supply was set to decline over the final two quarters of 2015 while Opec [...]
The European Commission just unveiled strict new migration rules May 13, 2015 Suddenly, George Osborne's mission to renegotiate the UK's relationship with Europe just got more urgent: the European Commission (EC) has just unveiled new emergency migration measures, designed to stem the tide of migrants attempting to cross the Mediterranean. Frans Timmermans, the EC's vice president, said the "tragic loss of life in the Mediterranean". Last month [...]