Housing market holds up well despite Bank of England rate hikes August 8, 2022 The UK property market is still running hot despite the Bank of England’s rapid interest rate hike cycle, according to research by City A.M. House purchases dipped around four per cent in June compared to December when the Bank’s first rate rise landed, dropping to 95,420 from 99,560, according to HMRC data. Governor Andrew Bailey [...]
Savills hikes forecasts for London rents, with prices set to rise to new heights August 8, 2022 Savills has hiked its five-year forecast for the prime London rental market, with rents set to continue rising to new heights. The capital had suffered an exodus of international students and business folk, as well as Brits seeking greener pastures, during Covid-19 restrictions, which resulted in plummeting rental costs. The estate agency now anticipates prime [...]
China trade surplus hits record high while markets nervously await Fed’s next move August 8, 2022 Markets in Europe look set to open slightly lower as we start a new week after US markets closed mixed on Friday, and the latest July trade data for China pointed to weak domestic demand. Any thoughts that the US Federal Reserve might have to start going soft when it comes to the tightening of [...]
Average UK house price falls for first time in a year to sit at £293,221 August 5, 2022 House prices marked their first decrease since June last year, dropping slightly last month to stand at an average price of £293,221. Prices fell by a marginal 0.1 per cent in July, according to Friday’s Halifax House Price Index. The annual rate of growth eased to +11.8 per cent (from +12.5 per cent), with Wales [...]
Battle for Number 10: From tax to NHS, here are all the promises Liz Truss and Rishi Sunak have made so far August 3, 2022 Yesterday, Liz Truss has this morning performed a screeching U-turn on a policy to pay regional public sector workers less than their London counterparts. it came after a severe backlash from Tory MPs and Tees Valley mayor Ben Houchen. The embarrassing move comes as Truss and her rival Rishi Sunak continue to flesh out their [...]
Peer2Peer Finance Awards – nominations now open! August 3, 2022 Peer2Peer Finance News is hosting its inaugural awards event – the Peer2Peer Finance Awards – on Tuesday 6 December 2022 at the prestigious Hurlingham Club in London. The awards will highlight the best and brightest among the peer-to-peer lending industry, including platforms and the service providers supporting them. Categories have been announced, with all awards free to enter [...]
The Hundred returns as London team look to get back into Spirit August 3, 2022 It’s the competition so many said they didn’t want but also the tournament that shattered records and became a success in its inaugural season: The Hundred is back. With a century of balls for each side, live music, a party atmosphere and two very sparkling trophies, English cricket’s newest property returns to its most iconic [...]
London’s FTSE 100 tips into red despite BP and Shell’s best efforts August 2, 2022 Historic profits at oil giant BP nearly pushed London’s FTSE 100 into positive territory today. The capital’s premier index edged 0.06 per cent lower to 7,409.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped over one per cent to below 20,000 points. Oil [...]
Following ‘dreadful’ results shareholder calls for Purple Bricks chair to be removed August 2, 2022 The chairman of estate agency Purple Bricks should be removed following its “dreadful” annual results this morning, a key shareholder has said. Lecram Holdings, which owns 4.2 per cent of the company, called for it to take action after disastrous losses and plummeting revenue for the last financial year. Calling for chairman Paul Pindar to [...]
Purple Bricks looks for recovery after bruising financial year with big losses and revenue drop August 2, 2022 Estate agency Purple Bricks has set out a recovery plan following a bruising financial year, with instructions, profit and revenue all way down on 2021. The tech-led housing group suffered due to a mixture of supply chain problems as a turbulent property market, and “a year of transformation”. It registered a loss of £42m in [...]