Covid recovery: IMF predicts UK economy to grow fastest of all G7 nations July 27, 2021 The UK economy is set to recover much faster than expected from the Covid crisis as a resurgence in consumer spending and the success of the vaccine rollout boosted official forecasts. According to the International Monetary Fund’s latest World Economic Outlook report, the UK economy will expand seven per cent this year, a sharp increase [...]
House prices to surge another £50,000 over next five years July 27, 2021 House prices are expected to surge another £50,000 over the next five years, further reducing affordability in the UK property market, according to new forecasts published today. Estate agent Savills predicts house prices will jump nine per cent this year, driven by the extended stamp duty holiday and prospective buyers rushing to purchase larger homes [...]
London home sellers now get 91 per cent of asking price, but Westminster buyers achieve largest discount July 27, 2021 Home sellers in London are now achieving 91 per cent of their initial asking price, an increase of six per cent on the first three months of this year, data from sales agent Benham and Reeves has found. As a result of the Covid-19 pandemic, some in the market panic-bought to secure properties over the [...]
Average UK house price 30 per cent up on 2007 market peak July 27, 2021 The average price of a home in the UK has risen to a new high of £230,700, up 30 per cent on the 2007 market peak. Since June of last year, the average price has risen by 5.4 per cent, more than double the year on year price growth recorded 12 months ago, when annual [...]
Virgin Money personal lending up as more people shop with credit cards July 27, 2021 Banking group Virgin Money today reported that personal lending and relationship deposits have grown as consumers pick up their credit cards again. Personal lending grew 2.5% to £5.2bn in the three months to 30 June 2021, driven by more customers using their credit cards to shop. Relationship deposits increased 3.7 per cent to just under [...]
Can you really afford a puppy? Britain is facing a petcare crisis after a lockdown boom in demand for dogs July 24, 2021 Even the Chancellor of the Exchequer has succumbed to the lockdown-induced rush for puppies. It’s easy to do when one of those furry little faces is staring up at you, especially after the dreary year we’ve had shut up in our homes. While Rishi Sunak can probably afford to look after his new pup, there [...]
Exclusive: London Mayor Sadiq Khan welcomes Hongkongers with open arms July 24, 2021 London’s City Hall announced this week it plans to free up £900k to help tens of thousands of Hong Kong migrants to settle in the capital this year. The financial package is part of a wider strategy to help those fleeing the political turmoil in Hong Kong set up home in London. In an exclusive [...]
The difference between privacy DeFi and anonymity is huge July 23, 2021 City AM's Monty Munford unpicks the problems in the difference between privacy and anonymity.
Covid sharpens inequalities in UK housing market July 23, 2021 The Covid crisis has widened inequalities in the UK housing market, according to new research published today. Figures from building society Nationwide show one in four private renters think the pandemic has made it more difficult for them to buy a home. Sharp rises in house prices over the last year, driven by demand being [...]
In the wake of Greensill: alternative finance has been tainted by the scandal and needs to claw back legitimacy July 22, 2021 The dust may be slowly settling on the Greensill scandal itself, but its ramifications are rumbling on for the alternative finance sector. Post launch, Greensill was feted in the community, receiving large investments as it grew and racking up numerous plaudits for transforming how business financing can evolve to better suit the payments exchange between [...]