Halifax: UK house prices near ‘pre-financial crash levels’ April 14, 2021 UK house prices have hit a record high despite rising at a slower rate than a year ago, according to the Halifax house price index this morning. The lender said that the affordability of houses was “close to pre-financial crisis levels”, as house prices remained historically high at an average of £252,765. The difference between [...]
Overnight stays restart this week, as PM sets out ‘traffic light’ plan for holidays abroad April 12, 2021 Overnight stays restart this week, as PM sets out 'traffic light' plan for holidays abroad
UK PMIs: Construction activity grows at fastest rate since 2014 April 8, 2021 Construction output grew at the fastest rate in six and a half years in March as a combination of delayed projects getting the go-ahead and a boost in housebuilding spurred on the industry. IHS Markit’s construction Purchasing Managers Index registered 61.7 last month, a sharp increase from a reading of 53.3 in February. The latest [...]
Which equity sectors can combat higher inflation? March 31, 2021 Some investors are worried that inflation is set to rise. We look at which equity sectors could prove to be the most resilient. The sharp rise in bond yields over recent weeks has rattled equity markets amid fears that fiscal stimulus and a post-pandemic spending splurge could stoke higher inflation. Five-year inflation expectations, as measured [...]
The final countdown: Are businesses prepared for the Libor transition? March 31, 2021 The countdown to the end of Libor has begun but the scale of the work involved in transitioning to the new rate is immense. For 40 years Libor has been the key benchmark for setting interest rates on various loans and contracts, underpinning trillions of dollars of transactions, before controversy hit. From today no new [...]
Wall Street flat and FTSE 100 slips into the red as Archego default hits banks March 29, 2021 Wall Street closed flat and the FTSE 100 slipped into the red today as fears of potential losses from a major US hedge fund defaulting on margin calls held back stocks. While the Dow Jones gained 0.3 per cent, the S&P 500 was 0.09 per cent lower and the tech-heavy Nasdaq closed down 0.6 per [...]
What 175 years of data tell us about house price affordability in the UK March 29, 2021 What we’ve learned from nearly 200 years of housing data – and is property really a better investment than a pension? We dug into the treasure trove that is the Bank of England’s Millennium of data resource to analyse the history of house prices. We found that the average house in the UK currently costs more than [...]
Stamp duty holiday extension boosts mortgage lending to five-year high but approvals slip March 29, 2021 The stamp duty holiday extension boosted net mortgage borrowing to its highest level since March 2016, according to new Bank of England data. Net mortgage lending hit £6.2bn in February, with mortgage approvals for house purchase reaching 87,700. Andrew Montlake, managing director at mortgage broker Coreco, said the stamp duty extension was pivotal in fuelling [...]
Private markets: the quest for diversification March 25, 2021 By Nalaka De Silva, Investment Manager, Aberdeen Diversified Income and Growth Trust plc Institutional investors have long thought of private markets as a way to boost returns. But the recent challenging economic conditions have further enhanced the role that private market investments can play in portfolios. In particular, investors are now relying on private markets [...]
Exclusive: Small business owners on what is happening in the real economy March 24, 2021 The City was hit with some sobering figures earlier this month, as official data showed UK GDP shrank by a staggering 9.9 per cent in 2020, the largest drop on record. The figures were less bad than expected, which led PwC to conclude that British businesses are becoming more adaptable to lockdowns from an economic [...]