Mortgage costs expected to grow by another £2,500 as inflation spirals July 1, 2022 The cost of a mortgage is expected to grow by another £2,500 by the end of this year, in comparison with December 2021, according to property site Zoopla today. Economists anticipate “sharp” hikes to mortgage rates in the coming months, as the Bank of England seeks to tame spiralling inflation, which is already at 9.1 [...]
UK more likely than US and Europe to tip into recession, Goldman Sachs warns June 30, 2022 The UK is more likely to tip into recession than the US and Europe due to the country suffering from a more “acute” cost of living crisis, a top Wall Street investment bank has warned. Rampant inflation in Britain, running at a four decade high of 9.1 per cent and the highest in the G7, [...]
Pace of house price growth slows as average price hits new record of £271.6k June 30, 2022 House prices saw a slight slowdown in growth this month as the price tag of an average UK home hit a new record of £271,613. According to the Nationwide House Price Index, published on Thursday morning, UK annual house price growth slowed to 10.7 per cent in June. This was a subdued pace of growth [...]
Average UK house costs £271,613 as price growth shows ‘tenative signs of slowdown’ June 30, 2022 The pace of UK house price growth slowed modestly last month, with the price tag of a standard home hitting a new record high of £271,613. According to the Nationwide House Price Index published on Thursday, average prices increased by over £26,000 in the past year. The rate of annual growth slowed to 10.7 per [...]
Are we heading for a global recession? June 29, 2022 Keith Wade, Chief Economist, discusses what central bankers’ next move might be, what markets are pricing in and what the probability of a recession is. People are worrying about a global recession and with good reason. But what if the factors driving rising prices are beyond the limits of policymakers’ control? The squeeze on living [...]
PwC to give 11,000 workers their biggest pay rise in a decade June 26, 2022 PwC is set to give around half of its UK workforce their biggest pay rise in a decade, in hiking around 11,000 of its workers base salaries. The accountancy firm is set to give a nine per cent pay rise to around half of its more than 22,000 staff – at a cost to [...]
Cocktail of problems plunge UK consumer confidence to record low June 24, 2022 A relentless cost of living crunch, the prospect of a recession and stagnant wage growth has driven British pessimism to new highs, reveals a closely watched survey published today. UK consumer confidence dropped to minus 41 points this month, down marginally from minus 40 in May, the lowest reading recorded by research firm GfK since [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
Use windfall tax to improve energy efficiency of British homes, argues climate charity Ashden June 16, 2022 The government should funnel revenues from the windfall tax into making the UK's housing stock more energy efficient, says Ashden.
Campaigners warn childcare costs holding back careers in the City and beyond June 13, 2022 CAMPAIGNERS have warned “uniquely high” childcare costs are holding back not just the City’s diversity drive but economic growth. A new study by union the TUC suggests the average nursery bill for a family with a toddler was just shy of £5,000 in 2010 but has grown to more than £7,000 just a dozen years [...]