The French build three times more new homes than we do August 13, 2013 THERE is a first time for everything. Today, I’m going to praise something about the French economy – well, sort of, at least. This year is proving to be “bad” for housebuilding in recession-hit France, so there were “just” 342,000 housing starts in the year to June 2013, down 14.2 per cent on the previous [...]
Weale stops turning: Bank of England committee votes unanimously against rate hikes September 18, 2013 Bank of England Monetary Police Committee (MPC) members unanimously against interest rates and increases to asset purchases this month. No MPC member thought that policy tightening was needed at present, but warned that continued rapid house price increases would be a concern. The 4% increase in the sterling price of oil would be likely to [...]
Help to Buy is worrying but the real problem is inflexible housing policy July 31, 2013 MILTON Friedman once observed that, “with some notable exceptions, businessmen favour free enterprise in general, but are opposed to it when it comes to themselves.” With this in mind, if a market intervention is criticised even within the industries that could benefit from it, it is probably safe to conclude that it is a really [...]
London Report: FTSE roars back as fears of a US default diminish October 10, 2013 THE UK’S top share index bounced off three-month lows yesterday as signs of progress on ending the fiscal stalemate in Washington buoyed sentiment, with banks in particular leading the index higher. Shares in Ladbrokes jumped 2.9 per cent boosted by bid speculation after software firm Playtech, was rumoured to be behind the purchase of a [...]
Before the open: Markets remain muted by uncertainty from Fed and Germany September 24, 2013 Further Fed discussions on last week's news saw US markets close lower again yesterday for the third day. Overnight: #DOW lost 0.3% on Fed uncertainty and the political showdown on Fed budget nears. European markets also fell, Stoxx Europe -0.5% — belldirect (@belldirect) September 23, 2013 In the Eurozone, deliberations on a grand coalition continue [...]
Before the open: Markets await Fed decision on tapering September 18, 2013 The Nikkei closed up as today's Federal Open Markets Committee keeps markets waiting this morning. Fed officials have stressed that some form of tapering could happen by the end of the year if data from the third quarter supports it. Market consensus seems to be in the region of $10bn to $15bn taper of [...]
London estate agent Foxtons returns to market as house prices soar August 27, 2013 London estate agent has announced that it will return to market, after being purchased six years ago for £360m. Now it hopes to raise £55m as it goes public (release). Now for sale itself, the firm will seek to rid itself of debts as the property market swells. Nowhere else is the surge in UK [...]
Housebuilding drives construction output up in second quarter August 9, 2013 Output in the UK construction industry increased by 1.4 per cent in the second quarter of the year compared to the previous quarter and 0.5 per cent year-on-year. This was driven primarily by housebuilding, which rose by 8.6 per cent quarter-on-quarter. New orders were at a 15-month high fuelled by residential building. The Office for [...]
UK economy improving but far from cured December 5, 2013 THERE can be no doubt that this Winter Budget – as it should really have been called – was a great win for George Osborne. For the first time since around 2007, Britain is moving in the right, rather than the wrong, direction. Growth has bounced back, the deficit is falling, employment is surging, unemployment [...]
What the other papers say this morning – 15 November 2013 November 14, 2013 FINANCIAL TIMES Ofgem clashes with energy firms Network charges, identified by energy suppliers as a reason for inflation-busting price rises, are not going up as much as companies say, according to the UK’s energy regulator. Energy suppliers have blamed higher bills on rising costs in three areas: the wholesale energy they buy on international markets; [...]