Ed Miliband’s attack on developers ignores why housebuilding is in crisis December 16, 2013 ED MILIBAND was right to identify the housing affordability crisis as one of Britain’s most important policy challenges in his speech yesterday. Sadly, his mixed bag of proposals (expanding urban council boundaries, a 200,000 annual home-building target and fines for “land hoarders”) does not address the fundamental reasons why developers are not supplying the market [...]
Wealthy investors bet on London’s future strength December 15, 2013 ULTRA high-net worth investors are backing London as the world’s most important financial centre in the decades ahead, according to a new survey of their intentions up to 2043. Fleming Family & Partners today reveal the results of a poll of 90 families that collectively hold over £100bn in assets, suggesting the capital will remain [...]
2013 sees mortage lending rise by a quarter as market warms December 12, 2013 MORTGAGE lending rose by nearly a quarter in the 12 months to October, as prices and activity in the housing market begin to climb again for the first time since the financial crisis. According to figures released by the Council for Mortgage Lenders (CML) yesterday, lending for house purchases rose 24 per cent in the [...]
Mortgage lending soars. But will it all end in tears? December 12, 2013 Lending to first time buyers rose dramatically in October, according to the Council of Mortgage Lenders. First time buyers advanced 26,800 loans in October, the largest number of loans in a monthly period since November 2007. Strong buyer interest is strengthening activity in the housing market but limited supply remains a major problem. House prices [...]
First time buyer surge adds to market uplift December 11, 2013 THE NUMBER of first time buyers has surged by three quarters over the past year, as a surge of activity in the housing market pushes prices even higher, especially in London. Estate agents Haart reveal today that, the number of first time buyer registrations has risen 78.4 per cent in November 2013, compared to the [...]
Volcker Rule is nothing to celebrate and financial markets could suffer December 11, 2013 FORMER Federal Reserve chairman Paul Volcker made his way through the snowy streets of Washington, DC on 10 December to attend a celebratory lunch. To widespread applause, the new rule that bears Volcker’s name has now been finalised by the five regulatory agencies responsible for it. Yet after the thousand page rule has taken hold [...]
UK economy improving but far from cured December 8, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
Our at-a-glance guide to Osborne’s mini-budget December 5, 2013 Growth up, borrowing down, yet the debt is still rising. Another raid on the banks, but shops to gain from reduced business rates THE UK ECONOMIC OUTLOOK● The Office for Budget Responsibility (OBR) has revised up its forecast for economic growth and revised down its prediction for inflation. It expects unemployment to drop quickly next [...]
UK economy improving but far from cured December 5, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
Timid new policies do little to address the risks behind Osborne’s good news December 5, 2013 FOR THE first time since before the financial crisis, the chancellor of the Exchequer was able to stand up and announce some good news at the Autumn Statement yesterday: the deficit, the labour market, and growth are all better than expected. Alistair Darling started by predicting a “trampoline” recovery when the recession first hit, with [...]