Rishi Sunak urged to block Liz Truss’s reported resignation nominations March 25, 2023 Former prime minister Liz Truss reportedly nominating four close supporters for peerages has sparked outrage among opposition MPs.
Mini budget continues to wreak havoc on the UK housing market as annual sales dive 18 per cent March 21, 2023 UK property transactions fell four per cent in February as the fall out from last September’s mini budget continued to drive down the UK’s housing market. Sales of residential property fell 18 per cent during the year with just 76,920 transaction across the UK, as buyers were forced to deal with higher borrowing costs as [...]
London house prices fall but still almost double national average according to Halifax property index March 7, 2023 London house prices have fallen by almost one per cent from January, but property in the capital still costs £240,000 more than the national average. Halifax’s latest house price index for February showed the rate of annual national growth slowed across the UK, with the average property now sitting at £285,476. In the capital however, [...]
Why housebuilders’ share prices are sinking – despite healthy industry profits March 5, 2023 If you quickly skim over the financial results of any major residential home builder you would presume that business, for the most part, is doing quite well. Just last week a flurry of housebuilding companies revealed their earnings for 2022 with major players in the market such as Persimmon and Taylor Wimpey seeing profits of [...]
Taylor Wimpey profits up nearly 22 per cent at £827m as builder notes signs of housing market ‘improvement’ March 2, 2023 Taylor Wimpey said it “acted quickly” to address rapidly changing market conditions, as the London-listed construction group reported 3.2 per cent year-on-year growth in revenue to £4.4bn during the year ending 2022. The group reported pre-tax profits of £827m, a rise of 21.8 per cent from £678m in the same period last year. As inflation [...]
Housing market: Shares in FTSE 100 house builders tumble as outlook weakens March 1, 2023 Investors are shying away from pumping their funds into the residential market after figures from the Bank of England show that mortgage approvals for house purchases plummeted to the lowest level since the 2008 financial crash.
Week ahead: Bank of England speak to dominate agenda as investors look for clues on interest rate path February 26, 2023 Investors will be parsing over a string of speeches from top Bank of England rate setters this week for clues on whether the central bank is close to ending its aggressive campaign to tame inflation. Ben Broadbent, a deputy governor at the Bank, kicks off a busy week of central banker speech at Threadneedle Street’s [...]
Analysis: Fintechs need to get back to basics and forget the flashy stuff February 20, 2023 Fintech firms in the UK have long driven new products trying to change the game in financial services, but as investment dries up in the face of a recession, they need to go back to basics, writes Lyle Wraxall.
House prices are poised to slide in 2023 but straight into the hands of the lucky few February 7, 2023 There’s a pretty wild variety of house price predictions doing the rounds. Capital Economics have forecast they could fall 12 per cent, while experts at property search site Zoopla are a bit more optimistic. The consensus seems to be somewhere around a six per cent fall in 2023. One thing is certain: house prices are [...]
‘Fizz has left the market’: House prices fell by 0.6 per cent in January as average property value plummets February 1, 2023 The average UK house price fell by 0.6 per cent in January, according to Nationwide Building Society. Annual house price growth slowed to 1.1 per cent , from 2.8 per cent in December, and the typical property value is now 3.2 per cent lower than its August peak, the lender said. The average UK house [...]