SMMT: UK car sales plunge to six-year low despite electric growth January 6, 2020 British car sales slumped to a six-year low in 2019, as widespread economic uncertainty put the brakes on an industry whose only glimmer of hope came in the form of record electric vehicle sales. New car registrations fell two per cent to 2.31m last year, according to the Society of Motor Manufacturers and Traders (SMMT), [...]
UK house prices end decade on a high with 1.4 per cent growth January 3, 2020 House prices were 1.4 per cent higher year-on-year in December, the first rise of more than one per cent for 12 months. According to research from Nationwide, after seasonal factors had been considered prices rose by 0.1 per cent in December. Read more: Rightmove: Tory election win will boost house prices by 2 per cent [...]
Mortgage approvals jump in November December 30, 2019 Mortgage approvals jumped 6.8 per cent last month, reaching the highest level in almost two years. Remortgage approvals soared 12.7 per cent during the month while gross mortgage lending dipped 3.3 per cent last month compared to the same month last year. Read more: First time buyer mortgage approvals increase in October EY Item Club [...]
House prices 2020: How will the UK property market fare next year? December 26, 2019 It’s been a rocky year for the property market, as protracted political uncertainty and affordability problems left house prices largely stagnant in London and across the UK. But with a resounding victory for Boris Johnson in the General Election earlier this month, and the prospect of an end to the Brexit saga in sight, 2020 [...]
British Steel buyer set for £120m government support package December 19, 2019 The Chinese takeover of failed manufacturer British Steel has been bolstered by reports the government is in the process of finalising a £120m package to help protect jobs in the area. Business secretary Andrea Leadsom and minister Nadhim Zahawi met executives from Jingye Group on Wednesday to discuss completing the purchase. Read more: British Steel [...]
First-time buyer mortgage approvals increase in October December 17, 2019 The number of first time buyers securing mortgages jumped in October, according to the latest data. There were 32,260 new first-time buyer mortgages completed, 2.8 per cent more than in October last year. Read more: UK mortgage lending dips as buyers hesitate in Brexit uncertainty The number of homemover mortgages completed in the month grew [...]
British Steel deal could fall through as Chinese buyer Jingye ‘falters’ December 15, 2019 The takeover of British Steel by Chinese giant Jingye is said to be in jeopardy, as the government lines up alternative buyers. If the talks between the Official Receiver and Jingye collapse, it will be the second time the government’s chosen buyer for the stricken firm falls through. Read more: Jingye Group promises to save thousands [...]
Conservative election victory sparks sharp recovery in housebuilder stocks December 13, 2019 The uncertainty surrounding Brexit and the country’s future has long been blamed as a source of the property market’s recent struggles. However a sizeable Conservative majority in the general election has already resulted in a sharp rise in housebuilder stocks. FTSE 100 firm Taylor Wimpey’s share price rose by 11.4 per cent in early morning [...]
Four reasons why selling your house at Christmas might actually work December 13, 2019 Christmas is a time for many things. Family. Bad music. Overeating. One thing it’s not the time for is putting your home on the market. Or is it? According to some London agents, selling your house during the holidays might not be the complete no-no that you think. Here are some reasons why you might [...]
Don’t ignore your opponent’s ideas — you could learn from them December 13, 2019 UK politics is a machine for killing good ideas. It’s brutal, adversarial, and first past the post. Our party-bound MPs almost never ask the only question that matters: based on the facts, what is best for the country? Imagine that your company has a complex problem. Three of you work up ideas to solve it. [...]