London house prices: Thousands of London homes are left vacant long-term February 21, 2016 Despite a chronic housing shortage in the capital, tens of thousands of homes in London are left vacant on a long-term basis, according to new data. More than 22,000 homes have been left empty by their owners for more than six months, despite soaring rents and property prices, data obtained under Freedom of Information by the [...]
The planning profession needs love too: It is seen as an obstacle to overcome – but it’s a positive guide to development February 19, 2016 Planning underpins our daily lives. From the houses we live in to the offices in which we work, or the streets that we walk down every day. It is the glue that binds together the entire property sector – a tool used by people and politicians alike to shape the built environment, as well as [...]
US inflation rate continues to climb easing Fed fears over interest rate hike February 19, 2016 US inflation continued to climb in January to a rate of 1.4 per cent, beating analysts' expectations. The rise will abate fears that the Federal Reserve increased rates prematurely in December ahead of a period of market volatility and weak economic data. Read more: US inflation rate climbs to highest since 2014 Consumer prices increased [...]
Credit cards at the ready: UK retail sales jump in January February 19, 2016 The UK's consumers put themselves into a buying frenzy in January, if official retail figures are anything to go by, with sales increasing 5.2 per cent on last year. And it seems Christmas was but a blip on consumers' radars: the quantity bought in the retail industry increased 2.3 per cent compared with December – [...]
UK public finances: Still no scope to loosen the fiscal stance in the Budget next month as January public sector net borrowing shows record surplus but falls short of expectations February 19, 2016 The UK recorded the largest public finances surplus for any January since 2008, but came in below expectations, indicating no scope to loosen the country's fiscal stance in the Budget next month. In January public sector net borrowing showed a surplus of £11.2bn, data from the Office for National Statistics showed, but was short of [...]
UK house prices: Sorry, but right now the UK can’t meet its target of building 240,000 homes a year, says House of Lords National Policy for the Built Environment Committee February 19, 2016 The UK won't hit the government's 240,000-a-year housebuilding target by relying on the private sector, according to a new report – which also warned so-called starter homes shouldn't be classed as affordable housing. The report, by the House of Lords' National Policy for the Built Environment committee, said the government must give local authorities and housing [...]
High house prices and strong rent growth lift landlord returns February 19, 2016 Landlords' annual returns have reached their highest for over a year, according to figures released this morning. Considering both the growth in rents and increases in property prices, landlords’ annual rate of return in January was 12 per cent. The figures, from estate agents Your Move and Reeds Rains, show that the average landlord in [...]
Financial services productivity held back by over-regulation February 18, 2016 Productivity in Britain’s financial services sector has fallen significantly since 2009, official figures have revealed. The level of productivity in financial services, measured by output per hour worked, was higher in the UK than in Germany, Italy, France and the US between 2005 and 2009. However, since 2009 the sector has been going in reverse, with [...]
Oil production freeze: Saudi will not cut output as US stockpiles soar February 18, 2016 The oil price has has fallen off a cliff on a double whammy of bad news: De facto Opec leader Saudi Arabia has said it will not cut production according to reports, while the US Energy Information Administration has announced inventories of crude swelled in the week to 12 February. The price per barrel of US [...]
UK house prices: If only the buy to let surcharge was an April Fool’s Joke – instead, it’s an attack on entrepreneurial Britain February 18, 2016 George Osborne sensed he was onto a winner when he moved to raise stamp duty on buy-to-let homes by three per cent. The UK property market has long been a hot topic. Powers-that-be rarely let opportunity pass, and the chancellor’s move is one to allow the government to have a bigger slice of the pie. [...]