Nationwide says property will keep falling
March 28, 2008
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The Nationwide reports property prices are still falling - and that it now expects this trend to continue to the end of the year. A more pessimistic opinion than it previously held.
The Nationwide Building society has reported that […]
Competition Commission lifts business bank rate limits
August 23, 2007
The Competition Commission has announced plans to lift the price controls it imposed on business bank rates in 2003.
The controls were put in place to make it easier for small and medium-sized businesses (SMBs) to move accounts and to make prices more transparent.
Under the rules, the UK’s four largest banks, Barclays, HSBC, Lloyds […]
Home Information Packs (HIPs) Guide launched by HomeMove
May 29, 2007
HomeMove.co.uk has launched a buyer and sellers guide to Home Information Packs (HIPs), detailing what buyers and sellers should expect after the August 1st deadline.
The guide was published as market chaos followed the government’s changing position on HIPs, postponing them only eight days before their June 1st deadline, and pushing back the launch date to […]
Mortgage approvals and house prices up
December 20, 2006
Mortgage approval rates reached another record increase - at the same time as a report declares strong housing inflation for 2007.
Mortgage approval rates increased by £6.5 billion in November - a record monthly record score - according to the British Bankers’ Association.
And Lombard Street Research - which posted one of the most on-target predictions […]
Nasdaq makes hostile bid for LSE
December 12, 2006
The US Nasdaq exchange has launched a hostile takeover bid for the London Stock Exchange (LSE).
It comes after more than a year of takeover offers and merger propositions from a range of companies, along with two previously rejected offers from the Nasdaq.
At present, the LSE is advising shareholders against Nasdaq’s hostile offer of £12.43/share, stating […]
Oil prices settle on recent lows
November 18, 2006
Oil prices appear to have settled to new lows after huge increases over the past 18 months.
WTI December contracts were 44 cents lower to $55.82 per barrel on Friday on the New York Mercantile Exchange
A $2.50 fall on Thursday was attributed to false rumours of increased inventories, but even though unfounded, traders seem unconcerned about […]
UK housing market powers up
September 15, 2006
Indicators show that the UK property market is powering up again, despite the recent interest rate rise.
The Department for Communities and Local Government (DCLG) (formerly known as the Office for the Deputy Prime Minister - ODPM) announced this week that house prices across the UK have risen 6% to July, with the average house price […]
Oil hits record highs
July 13, 2006
Oil prices have hit record highs, after a series of events brought fresh fears to already jittery worldwide commodity markets.
US light crude reached a record $75.89 a barrel, while London Brent crude hit a new high of $75.60.
A combination of Israeli aggression in the Middle East, supply fears in Nigeria, and continued confrontation of […]
Economic growth exceeds forecasts for 2006
July 1, 2006
The Office for National Statistics (ONS) has reported that the UK saw ecnomic growth above expectations over the first three months of the year.
ONS said that GDP had increased by 0.7% instead of the forecasted 0.6%, mainly due to increased activity in the business services sector.
The news is likely to add to pressures for the […]
Interest rate rise increasingly likely
June 7, 2006
The Bank of England is increasingly likely to raise interest rates later this year.
The suggestion comes after a string of economic indicators showed that UK manufacturing and consumer spending continued to be healthy, while inflation continues to strengthen.
Yesterday the Engineering Employers Federation (EEF) announced that UK manufacturing was enjoying a 10 year high in production.
Meanwhile, […]
London prices blow housing bubble bigger
March 27, 2006
Property prices in London have started going up again, pushing overall UK lending figures up on the month.
While it has been predicted already that house prices would see a small revival early 2006, few are optimistic that house prices will do anything but stagnate over the second half of this year.
It’s also worth noting that […]
Property market slows, but may roll on yet
February 9, 2006
Data from the Land Registry has shown that house prices over 2005 grew at their lowest level since records began in 1995.
Meanwhile, the Halifax Building Society has reported a 0.5% fall in house prices for January.
However, the Nationwide claims that “seasonally adjusted” figures have the housing market as rising 1.4% over January.
The apparent confusion in […]
Slow housing growth predicted for 2006
January 23, 2006
A small early renewal in price rises - followed by a period of stagnation for the rest of the year - appears to be the sum prediction for the housing market in 2006.
The Centre for Economics and Business Research (CEBR) has predicted an overall growth of 4.4% for the UK housing market, citing demand as […]
Retail sales up November
December 15, 2005
Retail figures for November were significantly up, according to the Office of National Statistics (ONS).
Although food saw the highest three-monthly growth, all sectors recorded increases, with overall growth at 0.7%.
According to the ONS:
Compared with the same period a year ago, sales volumes in the three months to November 2005 were up 1.3 per cent. At […]
Brown tackles SIPPS and REITs
December 6, 2005
Gordon Brown sent mixed signals to the financial sector today, with announcements that residential property will not be eligible for SIPPs (Self Investment Pension Plans) - however, he still plans to open the UK property market to general investment via REITS with legislation in 2006.
The problem for the treasury on SIPPs is two-fold - firstly, […]
Nationwide sees continued property market cooling
September 29, 2005
According to the Nationwide, annual house price growth is continuing to slow, with a price rise of only 1.8% during the 12 months to September - the lowest increase since May 1996, and a further decline on August’s 2.3% growth.
However, the quarter-point interest rate cut to 4.5% in August might now be boosting the market. […]
CEBR taxes will have to rise
September 26, 2005
The Centre for Economics and Business Research (CEBR), has warned that Chancellor Gordon Brown may have to raise taxes. The group said that “stealth taxes” equivalent to three pence on income tax could be introduced. The comments came after Mr Brown suggested that UK economic growth would be lower than the government had forecast.
Mr […]
Budget deficit narrows
September 20, 2005
The UK’s budget deficit narrowed to £4.8bn in August 2005, compared to £6.6bn in August 2004, after higher tax receipts exceeded spending.
August public sector net borrowing was the lowest for three years, according to figures from the Office for National Statistics (ONS). Borrowing in the fiscal year so far, however is still higher than […]
Inflation ramps up in August
September 13, 2005
According to the Office for National Statistics (ONS), UK consumer price index (CPI) inflation increased to 2.4% in August from 2.3% in July, mainly due to the increased cost of petrol, which contributed approximately 0.08 percentage points. August’s figure is the highest CPI level since current records began eight years ago and is the second […]
Bank of England leaves rates unchanged
September 8, 2005
The Bank of England’s Monetary Policy Committee (MPC) has voted to keep UK interest rates on hold at 4.5%, a decision expected by analysts.
In August, the MPC reduced interest rates by a quarter point, in response to concerns about slowing UK economic growth and consumer spending. However, the economic uncertainty caused by Hurricane Katrina, […]
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