Rising yields and flight to quality Most commercial property yields rose in September, according to the latest ‘Market in Minutes: UK Commercial’ report from Savills, leading to an average prime yield of 5.23%, compared to 4.95% the month before. A total of seven sectors saw an upward trend in September 2022, including shopping centres and leisure parks. Despite this, investment Read More
Economic Review – September 2022
Chancellor’s Growth Plan In his first fiscal statement since becoming Chancellor, Kwasi Kwarteng hailed a “new approach for a new era” as he unveiled a series of tax cuts and other measures designed to spur economic growth. During a ‘mini-budget’ delivered on 23 September, the Chancellor outlined a Growth Plan centred on the biggest package of tax cuts in fifty Read More
Gambling on growth?
Designed to boost economic growth and cool inflationary pressures, the ‘mini-budget’ announced by Chancellor of the Exchequer Kwasi Kwarteng was described by the Institute for Fiscal Studies (IFS) as “the biggest tax event since 1972”. The Government aims to achieve a trend growth of 2.5% for the UK economy over the medium term. A cut in the basic rate of Read More
Fiscal Statement – The Growth Plan 2022
“We need a new approach for a new era” A day after Bank Rate rose from 1.75% to 2.25%, Chancellor Kwasi Kwarteng delivered his first statement on 23 September, outlining a series of tax cuts and measures aimed at boosting economic activity and growth. Moving straight to the pressing matter of energy costs, Mr Kwarteng reiterated steps taken to support Read More
Residential Property Review – September 2022
Strong monthly transactions but slowing activity ahead Latest data from the UK housing market presents a mixed picture, with dwindling demand and limited supply contrasting markedly with strong transaction figures. Homebuyer demand remains above average, Zoopla pointed out. Yet analysts expect demand to weaken in coming months as more households feel the cost-of-living squeeze, a prediction supported by the latest Read More
Commercial Property Market Review – September 2022
Grade A offices dominate Activity in London’s city office market slowed in July, according to Savills latest data, totalling 144,128 sq. ft across 21 deals. Demand for Grade A stock continues to dominate the market, with 91% of year-to-date take-up being of such quality. The Professional Services sector remains similarly prevalent, accounting for 28% of this year’s transactions. Despite a Read More
US faces “sustained period of below-trend growth”
Fed tightening set to continue US interest rates look likely to continue their rise as Federal Reserve (Fed) Chair Jerome Powell confirmed that the central bank will continue to raise them as high as necessary for as long as needed in order to curb inflationary pressures. Consumer price inflation eased from 9.1% year on year in June to 8.5% in Read More
Economic Review – August 2022
Retailers report sales growth Online discounts and the hot summer weather have encouraged an uplift in retail sales, with the latest official statistics showing a rise in July and survey data pointing to further growth in August and September. Data released by the Office for National Statistics (ONS) revealed that total retail sales volumes rose by 0.3% in July; this Read More
