House builder Crest Nicholson reports mixed fortunes with completions up but post-tax profits dented by uncertainty January 17, 2023 British housebuilding firm Crest Nicholson reported an uptick in revenue and completed homes last year despite continued disruption and pressure to supply chains. The firm’s revenue up until October 2022 was up 16 per cent to £913.6m, up from £786m in the pandemic-affected 2021 report. Home completions also increased by 13.6 per cent to 2,734, [...]
Card spending jumps in 2023 as Brits splash out on travel and booze December 29, 2023 Debit and credit card spending jumped this year despite inflation and higher household bills, as Brits forked out on holidays and booze.
Berkeley Group looking to ease housing market fears ahead of further interest rate pain June 18, 2023 Housebuilder Berkeley is looking to soothe fears of more interest rate pain and a slump in the housing market this week as it updates the City on its full year’s performance.
Price of independence: Scots warned breaking away from UK may mean 20 per cent cut in income November 15, 2022 Crashing out of the Pound Sterling in the wake of an independence vote would cost the average Scottish household 20 per cent of their income, according to new analysis published today. The findings set out how the introduction of a new Scottish currency would hike the cost of imports, increase debt costs and lead to [...]
London economy steams ahead of every other UK region but interest rate hikes contain growth July 10, 2023 London’s economy is steaming ahead of every other region in the UK, but there are signs higher interest rates and a return of recession jitters is holding the capital back, a new survey out today shows. Economic growth in London in June was far above the UK average and even its closest competitor, the south [...]
London leads the way as UK house prices drop again December 20, 2023 House prices fell by 1.2 per cent in October, widening from the 0.6 per cent fall recorded in the prior month, according to the latest reading from the ONS. Buyers who purchased a home in October paid £3,000 less compared to customers in the exact same period last year. During the month the North East [...]
‘Too late for rent caps’: East London rents jump 50 per cent since 2019 August 5, 2024 Rental costs in London have skyrocketed over the past five years, and new data has shown that rental growth in the city’s historically-affordable east has risen the fastest. Prices have risen by around 50 per cent in Shoreditch, Bethnal Green and Haggerston to pass an average of £1,000 per month, according to data from Spareroom. [...]
Tesco ‘considering sale’ of Tesco Bank, according to reports February 20, 2023 Tesco is considering selling Tesco Bank, according to Sky News which has reported that the supermarket giant has started a review process for its banking arm. The review is at a very early stage, according to insiders, and may not lead to a formal sale process. A partial sale or joint venture may also be [...]
Ocado not for you: Three reasons why online grocer’s results may not be as bad as they seem February 28, 2023 Ocado’s crown as the online food retailer which keeps the middle classes stocked in organic essentials has been threatening to slip for a while now. As one of the companies which sits at the ‘higher-end’ of the online supermarket price point the rising cost of living, not to mention higher mortgage interest rates, was expected [...]
Markets: Three things we learned this week May 5, 2023 This week the markets had a lot to digest, bumper energy profits, the tail end of the banking sector’s latest round of results, and a rate rise from the Federal Reserve. There was also some positive house price data, which gave the FTSE 100 a spring in its step. With Coronation weekend looming we take [...]