Interest rate peak may be approaching Last month the Bank of England (BoE) announced another hike in its benchmark interest rate but hinted that rates may now be nearing a peak, as the tide in its battle with inflation begins to turn. Following its latest meeting held at the beginning of February, the BoE’s nine-member […]
Monthly archives: March 2023
Residential Property Review – February 2023
Housing market continues slowdown According to the latest UK Residential Survey from the Royal Institution of Chartered Surveyors (RICS) new buyer demand, sales, fresh listings and prices are all on a downward trend. January saw the ninth successive negative monthly reading for new buyer enquiries, with contributors to the survey in all parts of the […]
Commercial Property Market Review – February 2023
Commercial market downbeat but withstanding Conditions in the commercial property market continued to decline in Q4 2022, according to the latest UK Commercial Property Market survey from the Royal Institution of Chartered Surveyors (RICS). At the national level, 83% of respondents consider the market to be in downturn, a slight increase from 81% in the […]
News in Review
“High streets continue to show the biggest improvement” Footfall in UK retail stores bounced back in February 2023 from the levels recorded a year earlier, according to the latest data released on Friday by the British Retail Consortium (BRC). In total, footfall increased by 10.4% on an annual basis, but fell by 2.1% month-on-month. Specifically, […]
News in Review
“Consumers have suddenly shown more optimism about the state of their personal finances and the general economic situation” On Friday, the latest release of GfK’s Consumer Confidence Index revealed a month-on-month improvement in consumer sentiment. In February 2023, total confidence was -38, seven points higher on a monthly basis. All five measures that make up […]