House prices may tumble a fifth if Bank of England hikes rates steeply, economists warn September 27, 2022 House prices could tumble as much as 21 per cent if the Bank of England is forced to hike interest rates steeply in response to the government’s tax and borrowing splurge fuelling inflation, City economists have warned. Mortgage affordability – the ratio of a home purchase loan to the size of the borrower’s income – [...]
UK Holiday Property Investment September 27, 2022 7% fixed NET return1 The UK holiday industry has shown signs of a strong recovery from the disruptions posed by the global pandemic. Research by the World Travel & Tourism Council (WTTC) forecast that the UK’s travel and tourism sector’s contribution to the economy could rise to £192 billion in 2022. The British public have [...]
Close Brothers profits tumble 18 per cent amid trading slowdown September 27, 2022 Merchant banking group Close Brothers saw profits shrink by 18 per cent in the year to July as its Winterflood business was hammered by volatile markets and a slowdown in trading activity.
If we don’t fix London’s housing, families will get stuck in temporary accommodation September 27, 2022 This coming winter will be hard for millions of Londoners, with energy costs and inflation hitting almost everyone. But it will be harder still for the thousands of families stuck in temporary accommodation who don’t have a permanent home. The numbers affected are staggering – 59 per cent of all English households in temporary accommodation [...]
Union to ballot 150,000 civil servants on plans for public sector strike September 26, 2022 The public sector workers’ union is set to ballot more than 150,000 civil servants on plans to strike over pay and working conditions. The Public and Commercial Services Union (PCS) said it is urging its members in 214 government departments to vote in favour of taking industrial action, after the UK government set out plans [...]
Pound and Dollar parity strongly on the cards: After today’s all-time low, is Sterling the new Lira? September 26, 2022 Sterling is getting absolutely pounded today in this week’s trading, and traders have started things exactly where they left off on Friday. The Sterling looks like an emerging market currency, especially when you look at the price of the British Pound a few months ago and compare it to where it is now. Bears are [...]
Stamp duty cut set to boost property market as analyst ‘highly sceptical’ of demand-side push September 26, 2022 Cuts to stamp duty are set to give the UK property market a boost of more than 25 per cent as thousands of Brits look to cash in. Research from Barrows and Forrester suggests – based on previous stamp duty holidays – that up to a million homes could be sold due to the cut. [...]
LXi REIT’s £500m bid for Sainsbury’s stores collapses amid market volatility September 26, 2022 LXi REIT's proposed takeover of 18 Sainsbury's stores has collapsed after the group pulled out of a share issue.
Three teams take top prize in Minima and EdenBase innovation challenge September 25, 2022 Blockchain network Minima and growth hub EdenBase have announced the winners of a competition designed for app developers.
Kwarteng makes permanent cut to stamp duty in a bid to drive growth September 23, 2022 Kwasi Kwarteng confirmed stamp duty would be slashed from today in a bid to drive growth and boost confidence in the economy. Announcing his mini-budget, Kwarteng said: “Today’s statement is about growth. Home ownership is the most common route for people to own an asset, giving them a stake in the success of our economy [...]