A report from Carter Jonas indicates some growth in commercial markets recently According to MSCI, annual retail rental growth was 0.9% in May – the highest annual growth rate since 2016. While rental values have grown modestly since 2022, values are still 17% lower than the peak seen in 2018. In the retail warehouse subsector, […]
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Residential Property Review – July 2024
A new Labour government – what next for housing? Following the Labour Party’s landslide election win, what changes might be in store for the UK housing market? In the Prime Minister’s introduction to the King’s Speech on 17 July, Sir Keir Starmer stated “Too many people currently live with the threat of insecurity and injustice, […]
News in Review
“We need to go further and faster if we are to fix the foundations of our economy” Last week, Chancellor Rachel Reeves announced the launch of a National Wealth Fund (NWF), which has been created to increase investment in the UK. A key Labour manifesto promise, the Chancellor pledged £7.3bn of state funding to “unlock […]
News in Review
“We need to move forward together” After a historic landslide victory for the Labour Party, Sir Keir Starmer became the seventh Labour Prime Minister on Friday. Securing a massive 412 seats, the incoming Prime Minister spoke outside 10 Downing Street for the first time, declaring “Our country has voted decisively for change, for national renewal […]
News in Review
“With consumer demand on shaky ground, an incoming government can help business by ensuring that the UK is the most attractive place to start, grow and run a business” New retail data from the Confederation of British Industry (CBI) has highlighted a softening in retail sales in June, with a similar expectation for July, as […]
Economic Review – June 2024
Prospect of rate cut moves closer While last month once again saw the Bank of England (BoE) leave interest rates unchanged at a 16-year high, the minutes to the Bank’s Monetary Policy Committee (MPC) meeting signalled a notable change in tone and economists now view a rate cut as the most likely outcome when the […]
News in Review
“Taking the action wasn’t always easy, but we’ve got there and inflation is back to target” Data released by the Office for National Statistics (ONS) showed that for the first time in almost three years, the Consumer Prices Index (CPI) rate of inflation had returned to the 2% target in the 12 months to May, […]
Residential Property Review – June 2024
Housing market update The UK housing market continues to show modest signs of recovery, according to the latest data from Savills. Despite some house price growth, a significant upturn is considered unlikely until mortgage affordability improves. Buyer activity continues to improve, as the number of sales agreed in May was 10% higher than the 2017-2019 […]
Commercial Property Review – June 2024
Commercial trends of 2024 Flexibility, sustainability and diversification are key trends in the commercial property market so far this year, according to PropertyWire. Flexible workspaces are increasingly in demand, reflecting the shift to hybrid working since the pandemic. Co-working spaces, quality buildings and adaptable offices are more popular, as are those in prime locations. Sustainability […]
News in Review
“While there was no growth in April, it’s important to focus on the broader trend” The UK economy did not grow in April, official data released last Wednesday by the Office for National Statistics (ONS) revealed. The headline figure followed a month of wet weather, with ONS suggesting that the rain might have affected consumer […]