London beats Cornwall to be most desired location for buyers January 12, 2022 London was 2021’s most searched for destination by potential buyers, property site Rightmove has shared. The capital beat Cornwall, which had piqued buyers’ interests earlier in the year. However, a desire to escape to the countryside was clear in the difference in total number of searches between London and Cornwall. The difference was just three [...]
Renters rush back to capital as available properties drop off market January 11, 2022 Prime London boroughs have seen huge reductions in available rental stock as pandemic uncertainty subsidies for renters. In the final quarter of 2021, London rental stock had fallen to its lowest level since the end of 2019, just before the pandemic hit, according to data from central London estate agency, Bective. It comes as renters [...]
Top Chinese economist suggests £230bn plan to boost shrinking population January 11, 2022 A top Chinese economist has advised the central bank to print around £230bn worth of extra cash a year over the next decade, in a bid to incentivise the population to have more children. The capital would be used to subsidise housing costs, as well as build more childcare facilities, chief economist at SooChow Securities [...]
Exclusive: ‘Omicron is a reminder the world is only as good as the weakest link in the vaccination chain,’ says abrdn exec January 11, 2022 Ongoing inflationary shocks, questions around interest rates and the emergence of the new Omicron Covid variant are all making navigating uncertainty more challenging. Nonetheless, when we look beyond the headlines, there remain some reasons for optimism going into 2022, according to Richard Dunbar, head of multi-asset research at global investment giant abrdn. Square Mile-based Dunbar [...]
Car seller Lookers anticipates record yearly profit despite vehichle shortages January 7, 2022 New and used car seller Lookers has said it expects record underlying profit before tax ahead of company compiled market consensus of £82m for 2021. In an update on Friday morning, the firm noted a strong balance sheet, with net cash of approximately £8.0m as at 31 December 2021, compared to £40.7m net debt in [...]
House prices hit record high of £276k as slower growth forecast for 2022 January 7, 2022 House prices increased by more than £24,500 last year, the largest annual cash rise since March 2003. The average UK property price reached a new record high of £276,091 in 2021, rising 9.8 per cent, according to Halifax’s House Price Index. Once more, London was the weakest performing region for annual inflation by long way [...]
Mazars hit with £250,000 fine over audit failure January 6, 2022 One of Britain’s largest accountancy firms has been slapped with a £250,000 fine over auditing failures of a local authority’s 2019 financial statements. The Financial Reporting Council (FRC), the accounting regulator, said that Mazars’ audit of an unnamed local authority “fell far short of the applicable standards and regulations” and had the “potential to undermine [...]
Fintech Monument appoints Ian Rand as new CEO after bank given green light by regulators January 6, 2022 Monument has appointed Ian Rand to the role of chief executive officer, following the bank’s acquisition of a licence. The former boss of Barclays Business Banking will take leadership of the digital bank this month, as co-founder and current CEO Mintoo Bhandari, takes a step back. Rand has been CEO designate from 1 January 2022 and [...]
Wandsworth sees the highest number of £1m property transactions as buyers desire space January 5, 2022 The leafy borough of Wandsworth has been named as the capital’s hotspot for property transactions of £1m over the last year. The south-west London borough accounted for 11 per cent of high end transactions over the last year, out of a total 6,312 transactions for between £1m and £3m across London. Kensington and Chelsea and [...]
Rightmove reports busiest ever Christmas for home movers January 5, 2022 It was the busiest ever Christmas for those wanting to move home, with buyer demand soaring compared to the same period last year. Property platform Rightmove said buyer demand was up 23 per cent compared to last Christmas, when the pandemic discouraged many movers. The website recorded its highest ever number of new sellers on [...]