Mortgage approvals snap back following mini budget chaos, but net lending at lowest since 2016 March 29, 2023 Mortgage approvals have improved for the first time since August, as the market begins to shake off the stress of the mini-budget, however experts have warned that the housing market will “remain price sensitive”. According to the Bank of England’s Money and Credit report for February, net mortgage approvals for house purchases increased to 43,500 [...]
Boots advantage card helps sales soar as shoppers sign up to bag beauty bargains March 28, 2023 Boots has reported a surge in sales as the high street chemist benefited from savvy shoppers keen to rack up points on its advantage card loyalty scheme. In the three months to 28 February 2023, the retailer’s sales increased 16 per cent as customers shrugged off the cost-of-living crisis to splash out on skincare and [...]
UK recession still on the cards after aggressive Bank of England interest rate hikes March 27, 2023 A recession is still on the cards in the UK despite the economy performing much better than experts predicted just a few months ago, new forecasts out today project. Higher interest rates and households responding to the cost of living crunch gripping their finances by trimming spending is tipped to push GDP 0.3 per cent [...]
Lump sum or regular saving, investing for children and how to go green: Your Isa guide to making the most of this year’s tax-free allowance March 24, 2023 With just under three weeks left until the end of the tax year, savers may still be considering how to use their annual tax-free Isa allowance. You can use your allowance whether you are looking at setting up a regular savings plan, or investing a lump sum, or even considering putting some cash aside for [...]
Confidence in Bitcoin growing by the day March 24, 2023 Jason Deane eyes up all the week's action from the world of cryptocurrency, and discovers a sense of confidence in Bitcoin.
UK house prices: Growth down while rents soar by their highest in seven years March 22, 2023 Private rent paid by tenants in the UK rose 4.7 per cent in the 12 months to February 2023, up from 4.4 per cent in the 12 months to January 2023, according to the Office for National Statistics which also reported that house prices increased 6.3 per cent in the same period. Annual private rent [...]
Crash? What crash? House prices defy gravity though London lags slightly March 20, 2023 House prices continues to defy expectations with a steady recovery this month that has seen the average property coming onto the market increase by £3,000. Asking prices for new sellers do still remain £5,800 below their peak in October 2022. London’s average asking price fell by 0.1 per cent in March, leaving the average price [...]
Beleaguered estate agent Purplebricks has ‘several credible expressions’ to buy firm March 1, 2023 Bosses at struggling online estate agent Purplebricks launched a formal process to sell the business after several potential buyers expressed an interest in recent weeks. The company said it had received the approaches after saying in mid-February that it would review its future. Then, the business said “the potential of the group may be better [...]
House price growth plummets to lowest level in a decade as confidence and costs see off buyers March 1, 2023 House price growth has plummeted to its lowest in more than a decade as a cocktail of high borrowing costs, inflation and low confidence has deterred buyers. Properties dropped in value by -1.1 per cent year on year in February, according to Nationwide’s House Price Index, down from 1.1 per cent the previous month. This [...]
Persimmon warns of housing market uncertainty despite £200m revenue hike March 1, 2023 Persimmon Homes reported a an increase in revenues during the full year ending December 2022, but admitted the UK housing market “remains uncertain”. The London-listed house-building company saw its revenues increase by £.3.8bn, from £3.6bn the previous year. Underlying operating profit jumped four per cent year on year to over £1bn, from £973m in 2021. [...]