London house prices: How bad will the crash be in the 2023 recession? January 1, 2023 London house prices are expected to fall this year as interest rates rise and the recession bites – but will it be a small slide or a full-blown crash? Property experts are torn A housing market cooldown is expected in 2023 but prices will remain higher than before the coronavirus pandemic started, experts have suggested. [...]
Inflation surge reshapes Brits’ spending, but so does end of Covid-19 curbs December 30, 2022 Inflation reaching a 41-year high. Interest rates back to 2008 levels. Mortgage costs up substantially. It’s been a tough year for the Great British consumer. Income growth has failed to keep pace with what was a 11.1 per cent cost of living peak, meaning households have been forced to cut back to protect their finances. [...]
Families facing ‘groundhog year’ in 2023 as living standards to be squeezed December 30, 2022 Families are facing a “groundhog year” as further squeezes on living standards take place in 2023, a think-tank has warned. While the year ahead may offer economic policymakers some relief, with signs inflation will ease and interest rates peak lower than feared, family finances face a repeat of 2022’s squeeze as the cost-of-living crisis deepens, [...]
2023 set to be just as ‘horrendous’ as 2022 with falling pay and soaring energy bills December 30, 2022 Next year looks set to be just as “horrendous” for many families’ living standards as this year, as they are hit with falling pay and soaring energy, tax and mortgage bills, a think tank has warned. Households face a cost-of-living “groundhog year” with disposable incomes plummeting even further than in 2022, which saw the biggest [...]
House price growth falls for fourth consecutive month, worst run since 2008 December 30, 2022 House prices have plummeted for the fourth consecutive month by 2.8 per cent in December, the worst run since the financial crisis of 2008. Nationwide’s latest House Price Index shows this month proved to be another sharp slow down in growth down from 4.4 per cent in November. House prices fell by 0.1 per cent [...]
Mining and retail stocks push FTSE 100 into the green after Christmas shopping boost December 29, 2022 The FTSE 100 has been given a boost by its top retail stocks as investors cashed in on the post-Christmas sales shopping, and as China is set to ease its Covid restrictions for inbound travellers from January 8. Among the top performers on London’s leading index on Wednesday were JD Sports Fashion, Next, Kingfisher and [...]
‘Bank of mum and dad’ to return in fight against mortgage and rent double whammy December 27, 2022 The “bank of mum and dad” may be called upon for more help in the new year, as aspiring first-time buyers deal with a double whammy of higher mortgage rates and surging rental costs while they try to save. But for those buyers who are able to make the jump onto the property ladder next [...]
2022: The year the UK economy soured December 23, 2022 Let’s not forget that inflation was already a problem heading into 2022. The final inflation reading of 2021 was for November and came in at 5.1 per cent, nearly three times higher than the Bank of England’s two per cent target and the highest level since September 2011, according to the Office for National Statistics [...]
Brits untroubled by rising mortgage rates as property transactions rise December 21, 2022 Monthly property transactions have increased across the UK and returned to pre-pandemic levels despite the ongoing cost of living crisis. Today, HM Revenue and Customs (HMRC) published statistics indicating that monthly property transactions in the UK above £40,000 have increased consecutively over the past nine months. Frances McDonald, research analyst at Savills said: “In light [...]
FTSE 100’s winners and losers in 2022 December 19, 2022 The Christmas lull is setting in. Investors are bracing to turn off their screens and get away from the daily City grind. Trading volumes on the FTSE 100 are thinning. It’s also that time of year when financial journalists pick through the UK’s worst (and best) performing stocks over the past 12 months. Without further [...]