Are house prices really going up? London had lowest change across UK with average in capital now £543,000 February 15, 2023 The average UK house price ended last year £26,000 higher than when 2022 started, although the annual pace of growth in property values is slowing. Property values increased by 9.8 per cent in the 12 months to December 2022, which was weaker than the 10.6 per cent annual growth recorded the previous month. London’s average [...]
House prices and sales fell in January as buyer inquiries dropped February 9, 2023 House prices are starting to reflect the shift in demand in the market, according to surveyors. Agreed sales, house prices and new instructions to sell homes remained on a downward trend in January, the Royal Institution of Chartered Surveyors (Rics) said. Property professionals’ expectations suggest this picture is likely to remain in place for a [...]
House prices are poised to slide in 2023 but straight into the hands of the lucky few February 7, 2023 There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while experts at property search site Zoopla are a bit more optimistic. The consensus seems to be somewhere around a six per cent fall in 2023. One thing is certain: house prices are [...]
Retail experts warn of ‘challenging’ months ahead as sales growth slows February 7, 2023 Senior retail figures have warned that the coming months will be “challenging” for the sector, after sales slowed over January, falling below the three-month average growth of 5.2 per cent to 4.2 per cent Helen Dickinson OBE, chief executive at British Retail Consortium (BRC), said consumer confidence remains “stubbornly low” and looming rises in household [...]
Business lending to drop at fastest rate in decades as recession fears intensify February 6, 2023 Bank to business lending is forecast to contract sharply in 2023 while mortgage lending will grow at its slowest pace since 2011 as fears of recession intensify, economists have predicted. According to the latest forecast from EY Item Club, an economic forecasting group, bank to business lending is expected to contract 3.8 per cent this [...]
Interest rate rise and what it means for you February 3, 2023 The Bank of England has raised interest rates to four per cent, in a widely-expected move that has implications for both borrowers and savers. Adjusting personal finances to this ‘new normal’ of higher interest rates will be a challenge for most households, admitted Paul Wilson, chief Investment officer at Channel Capital. He said although a [...]
Once again the world’s economies prove that Bitcoin can be the answer to their problems February 3, 2023 Jason Deane has some telling observations from around the world and says the struggle with inflation has an obvious answer in Bitcoin.
NatWest boss U-turns on snub of Westminster committee after plea to ensure it won’t be an all-male panel February 3, 2023 The boss of NatWest has U-turned on her decision not to appear in front of MPs next week as they scrutinise the UK’s biggest banks on why savings rates are so low while borrowing costs have spiked. Dame Alison Rose, NatWest’s chief executive, came under pressure from the Treasury Committee after saying she was too [...]
The big boys of the housing sector can’t be the only developers we rely on February 3, 2023 New housing policy from Westminster has been pretty much non-existent, but the market itself can enable more new homes to be built by looking outside of the top developers, writes Phil Hooper.
Another interest rate hike to boost banks’ profits, but how long will the windfall last? February 2, 2023 Bank shares prices were mixed after the Bank of England raised interest rates by 50 basis points earlier today, as the pressure on banks to pass on higher interest rates to savers grew. The more domestically focused Lloyds and Natwest were trading 1.0 per cent and 0.6 per cent higher respectively. Barclays was up 0.8 [...]