What makes you feel at home? A recent survey1 has highlighted that, for many Brits, it is about more than just bricks and mortar. When asked what was most important, family photos came top of the list, followed by fresh bed sheets and a full fridge. Books, blankets, and a TV were also popular. Comes […]
Author archives: charlie
Spring Budget 2024
On 6 March, Chancellor of the Exchequer Jeremy Hunt delivered his Spring Budget to the House of Commons declaring it was “a Budget for long-term growth.” The fiscal update included a number of new policy measures, such as a widely-anticipated reduction in National Insurance, abolition of the non-dom tax status and new savings products designed […]
News in Review
“The housing market has proved very resilient to higher mortgage rates and cost of living pressures” House price data released last week from Zoopla highlighted that the number of homes on the market has increased by 21% year-on-year, as pent-up demand provides a boost. Buyer demand has also picked up, with an 11% increase on […]
Economic Review – February 2024
Survey suggests recession already over Official statistics released last month showed the UK economy fell into recession during the second half of last year, although more recent survey data does suggest the recession could already be over. The latest gross domestic product (GDP) figures published by the Office for National Statistics (ONS) showed the economy […]
News in Review
“If you look at recessions going back to the 1970s, this is the weakest by a long way” Last week, Bank of England (BoE) Governor, Andrew Bailey, indicated that the UK recession may already be over, citing “distinct signs of an upturn.” Comparing current conditions to historical downturns, Mr Bailey commented, “If you look at […]
Residential Property Review – February 2024
Positive start to the year for the housing market Increased demand from buyers and sellers is helping to get the housing market back on track this year. According to the Royal Institution of Chartered Surveyors (RICS), the data on new buyer enquiries is consistent with a gradual recovery which shows a 7% uptick in January, […]
Commercial Property Review – February
2024 – a turning point? The recently released UK Commercial Market in Minutes from Savills has identified 2024 as a pivotal year for the commercial property investment market. Expectations are for an uptick in investment volumes versus 2023, after a couple of years of falls, with some strengthening in prime yields also likely. Positivity about […]
News in Review
“The Chancellor must use his Budget… to set out a clear pathway for firms and the economy to grow” Data released last week from the Office for National Statistics (ONS) showed that UK gross domestic product (GDP) shrank by 0.3% in Q4 2023. Following a 0.1% contraction in Q3, the data shows that the UK […]
News in Review
“This is the fourth consecutive month that house prices have risen” Last week the latest data from the Halifax House Price Index for January showed that the average house price increased by 1.3% in the month, the fourth consecutive monthly rise. The average home in the UK now costs £291,029. The pace of annual growth […]
News in Review
“Things are moving in the right direction” Last week, during their first meeting of 2024, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted to retain Bank Rate at 5.25% by a majority of six to three. Two members of the committee preferred to increase the rate by 0.25 percentage points, to 5.5%, with […]