Mortgage lending rises as buyers borrow more despite election worries May 28, 2015 Mortgage lending kept growing in April despite the uncertainty of the election hanging over the housing market, according to figures yesterday from the British Bankers’ Association (BBA). A total of 73,650 of mortgage loans were given out in the month, up from 72,074 in March. April’s loans were worth a total of £11.7bn, up from £11.5bn in [...]
London bucks trend of growth in UK new home registrations May 28, 2015 New home registrations declined in London during the period between February and April, despite an increase across the UK in general. Registrations of new homes increased by 20 per cent in the quarter, compared to the same period in 2013, according to the National House Building Council (NHBC), and 12,459 homes were registered in April, [...]
£1 trillion pot: Landlords’ wealth grows as UK house prices and rents rise May 28, 2015 Landlords earned £112bn last year from rent and rising house prices, according to a study out yesterday from Kent Reliance. The total value of their assets is up 11 per cent on the year to £990.7bn – just shy of £1 trillion. London’s private rental sector is worth £406.5bn, up £50.7bn on the year. As [...]
Helical Bar chief predicts record City office rents of £100 per sq ft and £75 per sq ft in Shoreditch May 28, 2015 The meteoric rise in London office rents is unlikely to slow down for at least another year, the chief executive of property developer Helical Bar said yesterday, as companies compete for limited office space. Mike Slade predicts that rents in the City will rise to a record £100 per square foot by 2017 and £75 [...]
Lloyds and Aldermore lead SME loan rise May 28, 2015 Banklending to small businesses picked up at last in the first quarter, Bank of England figures showed yesterday. Net lending to small- and medium-sized enterprises (SMEs) rose by £615m in the first quarter of 2015. It marks a sharp reversal after years of decline – in the final quarter of 2014, net lending [...]
British consumers are upbeat after General Election outcome May 28, 2015 UK shoppers were slightly less confident this month, but confidence levels remain relatively high, according to survey figures published today. The consumer confidence index put together by market researchers GFK edged down to a score of one for May, from April’s four. However, it is up on the same month last year when it scored [...]
Boom in the City as professional services output increases quickly May 28, 2015 Business services firms are seeing a boom on a scale not experienced for almost a decade, with sales volumes rocketing and hiring up, according to a study today from the Confederation of British Industry (CBI). Profits are picking up sharply at accountancy, law and marketing firms, with 39 per cent of business and professional services companies [...]
Banks have finally started lending to small and medium sized businesses May 28, 2015 Banks are finally starting to lend to Britain's small and medium sized businesses new data has shown, suggesting the widely criticised Funding for Lending Scheme (FLS) could be beginning to work. Net lending to small and medium sized businesses in the first three months of this year rose by £635m, according to the Bank of England. [...]
Which country benefits most from economic growth? UK ranks below Ukraine and Russia May 28, 2015 Economic growth is generally considered a positive thing for the people living in that country – it brings jobs, opportunities and usually a higher standard of living. But how much that growth translates into what we can actually experience as improved level of well-being varies from country to country, and it turns out the UK [...]
Disposable income soars in London and Scotland – at the expense of north England May 28, 2015 People living in London and Scotland have experienced the biggest rise in their disposable income over the course of the twenty-first century – at the expense of the north of England. Disposable income in the capital rose faster than in any other part of the country, growing 75 per cent between 2000 and 2013. Scotland [...]