“There’s underlying resilience in the UK economy” On Friday, the Office for National Statistics (ONS) revised its Q4 2022 data showing that the UK economy performed better than previously estimated. UK gross domestic product (GDP) is now estimated to have increased by 0.1% in the final quarter, up from the previous estimate of no growth. […]
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Economic Review – March 2023
UK expected to avoid recession Revised forecasts from the Office for Budget Responsibility (OBR) suggest the UK will not enter recession this year despite households facing a record drop in spending power. Chancellor Jeremy Hunt unveiled the independent fiscal watchdog’s latest projections during his Spring Budget statement delivered to the House of Commons on 15 […]
Economic Review – March 2023
UK expected to avoid recession Revised forecasts from the Office for Budget Responsibility (OBR) suggest the UK will not enter recession this year despite households facing a record drop in spending power. Chancellor Jeremy Hunt unveiled the independent fiscal watchdog’s latest projections during his Spring Budget statement delivered to the House of Commons on 15 […]
On the up – downsizing
Cost-of-living difficulties are forcing people to reconsider their housing situations, with a new survey1 showing that three in 10 UK homeowners are considering saving money by moving to a smaller property, relocating or living with others. Race for space? After the pandemic-induced race for space, downsizing is back on the cards. Almost one in five […]
Insuring your solar panels?
More people are installing solar panels to their homes, spurred on by environmental concerns or the prospect of reduced reliance on the National Grid. Putting thousands of pounds on your roof can boost the value of your property, but do solar panels affect your home insurance? Come rain or… Having emerged in the 1950s, solar […]
News in Review
“We were really a bit on a knife edge as to whether there would be a recession… but I’m a bit more optimistic now” Last Wednesday, the Bank of England’s Monetary Policy Committee (MPC) voted to increase Bank Rate to 4.25%, the highest level for 14 years. Seven members of the committee opted for a […]
Residential Property Review – March 2023
Spring Budget – ‘trailblazer’ deals announced In the Spring Budget on 15 March, as part of the Levelling Up White Paper, Chancellor Jeremy Hunt announced ‘trailblazer’ deals giving new and deeper devolution powers to local leaders in the Greater Manchester and West Midlands Combined Authorities. For the first time outside of London, local leaders will […]
Commercial Property Market Review – March 2023
Spring Budget – Investment Zones announced On 15 March, Jeremy Hunt delivered his “Budget for Growth” focusing on four pillars ‘Everywhere, Enterprise, Employment and Education.’ Encompassed within the ‘Everywhere’ pillar, Mr Hunt spoke about the government’s plans for ‘Levelling Up,’ including the launch of 12 new Investment Zones or “potential Canary Wharfs”. For each of […]
Family Finances: get talking
New research1 suggests young adults and their parents are becoming increasingly comfortable talking about money matters, which should ensure future generations are much better equipped to tackle their financial affairs. Breaking the taboo Historically, intergenerational discussions about finances have too often been viewed as a no-go area, but the research suggests UK families are beginning […]
Renters tune in – income protection
The number of households renting privately in the UK increased by 63% in the decade to 20171, reaching an estimated total of 4.5 million. As the rising cost of living continues to cause difficulties for many, the importance of protection becomes increasingly apparent. Safety net Tenants in the private rental sector generally have lower financial […]