Growth stronger than expected in late 2024 Data released last month by the Office for National Statistics (ONS) revealed that the UK economy unexpectedly grew in the final three months of last year, although more recent survey evidence still points to a sluggish outlook. Following its latest meeting, which concluded on 5 February, the BoE’s nine-member Monetary Policy Committee (MPC) Read More
Residential Property Review – February 2025
Falling Bank Rate offers boost to mortgage holders The Bank of England cut Bank Rate from 4.75% to 4.5% at the latest meeting of its Monetary Policy Committee (MPC) in early February. Although the 0.25 basis point cut had been widely expected, many mortgage holders will have breathed a sigh of relief. While the MPC voted by a majority 7–2 Read More
Economic Review January 2025
Chancellor unveils plan for growth On 29 January, the Chancellor outlined her plan to boost economic growth during a speech in Oxford, although data released last month suggests the UK economy remained largely stalled at the start of this year. In her speech to business leaders, Rachel Reeves set out a series of major announcements on infrastructure projects which she Read More
Residential Property Review – January 2025
What to expect in 2025… Property experts Savills are hopeful that 2025 will be a positive year for the housing market, despite some challenges. The average house price is expected to increase by 4% over the course of this year, partly due to improved mortgage affordability restoring confidence among potential buyers. In 2024, performance in London was better than expected; Read More
Economic Review – December 2024
Headline inflation at eight-month high Release of the latest inflation statistics showed consumer prices are now rising at their fastest rate since March 2024, while last month also saw Bank of England (BoE) policymakers become more divided over the need to cut interest rates. Data published by the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) 12-month Read More
Residential Property Review – December 2024
Property market trends in 2024 As we approach the new year, Zoopla has highlighted trends in the UK property market in 2024. It is expected that, by the end of the year, there will have been 1.1 million sales completed – 10% more than last year. Meanwhile, January was the busiest month for visitors to the Zoopla site, followed by Read More
Year in Review 2024
As this year ends and the next is about to begin why not take a whistlestop tour of the last 12 months, with our Year in Review , reflecting on some of the key events and themes of 2024, as well as the global economy and markets, plus a look ahead to what 2025 may have in store. Included in our Read More
Economic Review – November 2024
Interest rates set to fall more gradually Last month, the Bank of England (BoE) cut interest rates for only the second time since 2020 but also warned future reductions were likely to be more gradual due to the prospect of inflation creeping higher next year. Following its latest meeting, which concluded on 6 November, the BoE’s nine-member Monetary Policy Committee Read More
