Mortgage and rent payments ‘difficult’ for almost 40 per cent of Brits August 11, 2023 Some 38 per cent of Brits have confessed to finding it difficult to afford their rent or mortgage payments over the past month, as the cost of living crisis continues to wreak havoc on the public’s personal finances. This figure was around 29 per cent in early August 2022, new figures from the ONS show, [...]
How Data Changed the Game for Aon’s Brokers August 10, 2023 Despite playing a very important role at the heart of London’s reinsurance market, James Milne, AON’s UK and Ireland head, tells City A.M. that he doesn’t often hear about insurance around the dinner party table. But when he does, it’s usually the cost of car insurance, which has gone up significantly over recent months as [...]
West End faces office supply crunch as back to work demand picks up August 10, 2023 Central London, particularly the West-End, is facing an office space supply crunch as demand for in person working picks up, property investment trust Derwent London has said. According to reports in its half year results, the listed business described the West-End as “very tight” with only 3.8 per cent of vacancy levels on office space. [...]
Persimmon slashes number of homes built as rate rise rattles business August 10, 2023 Persimmon has cut the number of homes it’s building by more than a third as the housebuilder faces up to rapidly rising mortgage rates and a slowdown in consumer confidence. The construction company built a total of 4,249 homes in the first half of the year down from 6,652 homes compared to the same period [...]
Estate agents hate these questions: You should ask them anyway August 10, 2023 Buying and selling your home is always high on the list of the most stressful times in a person’s life, up there with taking exams, getting divorced, and passing (or failing) a driving test. Estate agents are there to make this job easier, although only the good ones actually do. We asked two of the [...]
Property of the week: Live like a king in Marylebone August 10, 2023 This stunning property designed by Milanese interiors studio Peregalli looks like it belongs in the Le Palais de Versailles rather than the middle of Marylebone. The one-of-a-kind flat spans two Georgian townhouses, featuring double-height ceilings and intricate plasterwork throughout. It has an entrance hall; reception room with three huge sash widows; formal dining room complete [...]
Rents likely to continue rising sharply despite cost of living crisis August 10, 2023 Rents are likely to continue rising sharply despite the cost of living crisis, surveyors are warning. Property professionals’ expectations that rents will rise in the next few months are at the strongest levels seen so far this century, the findings from the Royal Institution of Chartered Surveyors (RICS) indicate. A net balance of 63 per [...]
China’s economy slips into deflation as recovery from pandemic continues to falter August 9, 2023 China’s already “tortuous” recovery from the Covid pandemic continued to stall today as fresh data indicated that domestic demand remained depressed. Figures out this morning showed that the world’s second largest economy slid into deflation in July for the first time since February 2021, with the consumer price index (CPI) falling 0.3 per cent year-on-year. [...]
Hybrid working ‘big bang’ drives Regus-owner IWG’s record revenue August 8, 2023 Booming demand for hybrid working saw workspace provider IWG, which owns Regus, net a record £1.7bn in system-wide revenue in the first half, up 16 per cent year-on-year.
People aren’t lying to claim welfare, we really do have a systemic crisis of ill health August 8, 2023 We love to point blame at people on welfare, rather than looking at why so many people are sick rather than at work, writes Ben Ramanauskas.