Week ahead: Bank of England to rock markets with 75bps rate hike October 30, 2022 Markets are preparing for a steep rate hike by the Bank of England on Thursday, but not as bad as first feared after former prime minister Liz Truss’s tax cutting mini-budget last month. London’s premier FTSE 100 index posted a decent performance last week, adding 1.12 per cent to close at 7,047.67 points, while the [...]
Truss says she’s ‘committed’ to state pension triple lock October 19, 2022 Liz Truss has said she is “committed” to increasing the state pension by the rate of inflation, after Number 10 just yesterday refused to back the triple lock. Truss said during Prime Minister’s Questions (PMQs) that “I am completely committed to the triple lock and so is the chancellor”. Truss’ spokesperson and Jeremy Hunt both refused [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
Trust the code, not the confused October 7, 2022 Rufus Round, CEO of GlobalBlock says political systems need to adapt to the crypto and digital assets technology heading their way.
Buying in an up-and-coming property hotspot: These are Britain’s hottest housing markets September 18, 2022 Which areas of the UK property market look set to be the next up and coming hotspots for house price growth? Having largely trailed the pack during the pandemic market boom, new sector data was shared with City A.M. today. Since the start of the pandemic in January 2020, UK house prices have climbed by [...]
Housebuilder Barratt shares slide despite pandemic recovery and £5.2bn revenue September 7, 2022 Housebuilder Barratt Developments’ shares slid this morning despite its construction output recovering to pre-pandemic levels and a rosy revenue of £5.26bn. The FTSE-listed housebuilder’s annual results coincided with a caution from Halifax today, warning of a housing market slowdown amid the cost of living crisis, soaring energy bills and rising mortgage interest rates. Completions climbed [...]
UK house price growth slows to 10 per cent as energy crisis batters Brits September 1, 2022 Annual UK house price growth slowed to 10 per cent in August, from 11 per cent in July.
Nervous homeowners on edge as mortgage rates hit highest level since 2016 with market fading fast August 2, 2022 The latest Bank of England data found last week that net borrowing of mortgage debt by individuals decreased to £5.3bn in June, from £8bn in May. Approvals for house purchases, an indicator of future borrowing, decreased to 63,700 in June, from 65,700 in May, which is below the 12-month pre-pandemic average up to February 2020 [...]
UK house price growth dwarfs annual salaries amid 12-month jump streak August 2, 2022 The average cost of a home has grown each month for the past year to £271,209, according to one of the country’s oldest house price indexes. House prices grew 11 per cent in the year to July, up from 10.7 per cent in June, Nationwide revealed today. While monthly growth has slowed to a “modest” [...]
A new Tory leader needs to grapple with the disparate politics of housing July 19, 2022 The candidates to be Britain’s next Conservative leader spent the weekend in a series of spats over economic plans for the future of the UK. You would assume other important topics, such as the pressing housing crisis, would also be front and centre. At the time of writing, Tom Tugendhat was the only one to [...]