“The return to single digit inflation suggests the UK has turned a corner” Official data released by the Office for National Statistics (ONS) last week revealed that inflation returned to single digits in April, following seven consecutive months residing above 10%. The Consumer Prices Index (CPI) increased by 8.7% in the 12-month period to April, […]
Monthly archives: May 2023
Residential Property Review – May 2023
Mixed market signals in May Recent releases from Savills presented mixed signals for the residential market, with the UK Housing Market Update pointing to recovering market activity in May, even as the English Housing Supply Update for Q1 2023 revealed a quarterly drop of 20% in new homes completed. The number of new sales agreed […]
Commercial Property Market Review – May 2023
Spotlight on UK retail The recently released shopping centre and high street spotlight from Savills for Q1 has highlighted that although the UK retail investment market has faced challenges, the occupational market has remained buoyant. From a volume perspective, emphasising consumer cautiousness in the face of high inflation, retail sales declined 3.2% year on year […]
Landlords tune in?
More than two in five landlords are not aware of the proposed Renters’ Reform Bill, a new study1 has claimed, despite the impact it will have on their portfolios. Should landlords be worried? What could change? The proposed legislation, which is set to be voted on before May 2023, includes many significant elements. If passed […]
Offsetting fiscal drag
The gradual reduction of disposable income due to inflation and changes in tax brackets, or frozen tax allowances, will weigh on your finances, causing ‘fiscal drag.’ By implementing various strategies, you can potentially reduce the impact of fiscal drag on your investments and increase your chances of achieving your long-term financial goals. The worst thing […]
News in review
“The sky’s the limit for British and Japanese businesses and entrepreneurs” Rishi Sunak attended the G7 Summit in Hiroshima on Thursday, stopping off in Tokyo to agree new defence and economic deals; a UK business summit for Japanese corporations in the capital has resulted in a reported £18bn investment in UK property, windfarms and other […]
News in Review
“We have to stay the course” As widely expected, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to increase Bank Rate by a quarter of a percentage point to 4.5%, at its meeting last week. Seven members of the committee voted to raise the rate, while two members favoured maintaining Bank Rate at […]
On the trail of unpaid IHT
HMRC has set up a new specialist team to target estates of wealthy deceased individuals in order to check whether a greater Inheritance Tax (IHT) liability may have been due than originally calculated by estate executors. This clampdown has seen record amounts of unpaid tax being clawed back by HMRC with levels expected to rise […]
News in Review
“May has the potential to be a historic month for the hospitality sector, which is set for one of its busiest times in recent memory” The Coronation of King Charles III was expected to bring an additional £180m to UK hospitality and leisure businesses over the long weekend, according to recent estimates from Barclays. The […]
Home Finance – In the news
Buyers priced out Some 41% of participants in a recent survey1 agreed with the statement, ‘I cannot afford to live in the area I want or need to live in’. Many renters and homeowners alike were unhappy with their current location, with job opportunities (37%), proximity to friends and family (35%) and a better lifestyle […]