Economists lambast BBC over ‘misleading’ UK debt coverage November 30, 2020 A group of the country’s leading economists have written to the director-general of the BBC to complain about the broadcaster’s “misleading” financial coverage. Two-dozen finance wonks told Tim Davie that the BBC’s reporting on UK borrowing “misrepresented” the constraints facing the government and the economy due to the Covid-19 crisis. The complaint related to the [...]
London’s housing market activity expected to slow next year, survey finds November 12, 2020 London’s housing market activity is expected to slow down next year as the withdrawal of government support measures and a difficult economic backdrop dampens the post-lockdown surge in demand. The latest research showed that both demand for properties and new homes being listed for sales remained strong last month. However a survey by the Royal [...]
Housing market fends off significant hit of second lockdown November 9, 2020 While the second lockdown in England has had a detrimental effect on the country’s hospitality and leisure industries, the housing market is having an entirely different experience. The early impact of the second lockdown is bearing little resemblance to the hit it took in March, according to estate agent Knight Frank. UK house prices have [...]
Mortgage approvals soar to 13-year high as UK housing market booms October 29, 2020 Mortgage approvals jumped again in September to hit a 13-year high as pent-up demand and the stamp duty holiday fuelled the housing market despite the economy’s fragile state. Approvals of mortgages for house purchase rose sharply to 91,500 in September from 85,500 in August, the Bank of England said today. Analysts had expected the number [...]
Consumer confidence edges up on Eat Out to Help Out boost October 25, 2020 Consumer confidence continued to climb over the last three months from a record low at the height of the pandemic, after the government’s Eat Out to Help Out scheme provided a welcome boost to Britain’s ailing high streets. Deloitte’s quarterly Consumer Tracker found British shoppers’ confidence edged up one percentage point to minus 16 in [...]
Banks hike mortgage interest rates amid boom in applicants October 24, 2020 Banks are reportedly hiking mortgage interest rates in order to deter prospective buyers as they struggle to meet a spike in demand for home loans amid a buoyant housing market. Lenders are turning away mortgage business as the ability to process applications has been slowed by home-working during the coronavirus pandemic. The housing market has [...]
Green shoots: Four charts that suggest the worst is over for the UK economy June 4, 2020 The UK economy suffered its worst month in living memory in April, but there are tentative signs that things began improving in May as coronavirus restrictions were gradually lifted. “The government’s plans for a progressive opening up of non-essential stores in June suggest that the low point for the economy is behind us,” said Ruth [...]
UK house prices rise 1.9 per cent as buyers hail 2020 ‘Boris bounce’ January 29, 2020 UK house prices grew at their fastest rate in over a year at the start of 2020, according to Nationwide, as experts hailed Boris Johnson’s election victory. The housing market posted a 1.9 per cent annual rise in January, beating December’s 1.4 per cent climb. That followed 12 months of consecutive growth below the one [...]
DEBATE: Should the Bank of England cut interest rates this week? January 29, 2020 Should the Bank of England cut interest rates this week? Simon Ward, economic adviser at Janus Henderson Investors, says YES. The Monetary Policy Committee (MPC) keeps making mistakes because it ignores monetary trends. It hiked rates in August 2018 even though 12-month broad money growth (as measured by non-financial M4) had slumped from 6.5 per [...]
First time buyer mortgages hit 12-year high October 15, 2019 The number of first time buyer mortgage completions in August soared to the highest level since before the financial crisis. There were 35,010 mortgage completions for new buyers – an increase of 0.7 per cent on August last year – reaching the highest level since 2007. Read more: Mortgage approvals grow despite Brexit uncertainty Andrew [...]