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 […]

News in Review

“Consumer confidence has started the year well” On Friday, the latest UK consumer confidence data from GfK showed that households are more optimistic about their personal finances. The index recorded a three point increase in January, to a reading of -19, the highest level in two years. This is despite a small untick in the […]

News in Review

“Inflation may give us a slightly bumpy ride during the next couple of months” Last week, data from the Office for National Statistics (ONS) showed the UK’s annual inflation rate, as measured by the Consumer Prices Index (CPI) increased by 4% in the year to December. An unexpected uptick from the 3.9% reading in November, […]

Commercial Property Review – January 2024

  Different challenges set to confront investors in 2024  The newly-released UK Commercial Cross Sector Outlook for 2024 from Savills has provided insight for the year ahead. Expectations from Mat Oakley, Director of Commercial Research, suggest that the factors impacting property values and confidence are set to improve this year, but as high inflation and […]

News in Review

“The longer-term picture remains one of an economy that has shown little growth over the last year” New data from the Office for National Statistics (ONS) has revealed that UK GDP is estimated to have grown by 0.3% in November 2023, this follows a fall of 0.3% in the previous month, and just exceeds a […]