Countrywide of the mark: City investors spurn beleaguered estate agent as share wounds deepen August 30, 2018 It seems there is no end in sight for Countrywide’s bloodbath on the stock market. The embattled estate agent has suffered a collapse in its share price since unveiling a £140m emergency fundraiser earlier this month, reflecting just how uncertain City investors feel about the firm’s future. Shares have fallen a further three per cent so far today, [...]
OneSavings lifts loan growth forecasts but warns of weaker Buy-to-Let mortgage market August 23, 2018 Specialised lender OneSavings Bank raised its expectations for loan growth today, despite pressure on profit margins amid a weaker Buy-to-Let mortgage market. The FTSE 250 firm’s loan book grew 11 per cent to £8.1bn during the first six months of 2018, with full-year targets for net loan book growth upgraded to high-teens percentages from an [...]
Opinion: While we need to get young people on the property ladder, movers and downsizers need help too | City A.M. August 10, 2018 Falling levels of home ownership and the particular plight of first-time buyers in the UK housing market have caused headaches for policymakers for many years. The latest suggestions for a solution from centre-right think tank Onward, propose, among other things, further changes to property taxation for non-owner-occupiers. The rationale is to reduce demand for housing [...]
The global financial crisis 10 years on: A timeline of the global events that shaped the crash from the credit crunch to the recession and beyond August 7, 2018 Ten years ago this week the credit crunch started to bite. Take a look back at the global events that shaped one of the biggest recessions in history. Early tremors: February to June 2007 Early signs of trouble build, but are mostly missed. The giant Freddie Mac, also know as the Federal Home Loan Mortgage [...]
Halifax house price index: House prices hit new record – but activity remains ‘soft’ | City A.M. August 7, 2018 House prices rose by 3.3 per cent in the second quarter of the year, hitting a new record of £230,280 – but caution still reigns over the property market. Prices rose 1.4 per cent in July, according to the Halifax house price index, up 1.3 per cent on a quarterly basis. Russell Galley, managing director [...]
Nationwide House Price Index ticks up – but economists urge caution | City A.M. August 1, 2018 Annual house price growth has climbed ahead of a possible rate rise this month, according to the Nationwide House Price Index. Prices in July rose by an average of 2.5 per cent, up from two per cent in June. It comes just a day before the Bank of England’s monetary policy committee (MPC) meets to [...]
Your financial wellbeing is more than just the money in your bank account and the number on your paycheque July 18, 2018 How healthy are you? The answer might make you cringe, but chances are you’ve probably got an answer. “Relatively fit” or “could do with losing a few pounds” will probably sound familiar. But what if you were asked how financially well you are instead? You might be earning a good salary, but still find yourself [...]
Market outlook July 17, 2018 Trump trade war threat A continued world recovery, led by the US with good support from Chinese growth among the emerging markets, is a positive backdrop for share markets. The Trump tax cuts and spending increases could boost US demand and output with the upcoming earnings season in the US likely to be the strongest [...]
Can slowing money growth stall markets? June 19, 2018 It’s fashionable for central banks to be more cautious in the West. TheFederal Reserve is busy putting up interest rates. Many forecast a move up from 2 per cent to 2.5 per cent this year and a further move to 3.25 per cent next year. Meanwhile, the US central bank is also reducing its own [...]
Can the UK economy cope with sustained house price falls? June 19, 2018 Brexit uncertainty is far from over. Indeed, as we approach the crunch point in negotiations over the summer, we expect rhetoric of hard Brexit and a cliff edge to reach a crescendo, before a final deal is agreed in September or October. Meanwhile, business and consumer confidence are likely to continue to suffer, causing decisions [...]