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
Residential Property Review – August 2022
Slowing market as demand dips again The UK residential market continues to slow at a steady pace, the latest Royal Institution of Chartered Surveyors (RICS) Residential Survey and Savills’ Housing Market Update both indicate, as demand wanes and supply remains low. New buyer enquiries fell for a third consecutive month in July, the RICS report showed, with a headline rate Read More
Commercial Property Market Review – August 2022
Caution key in Q2 RICS survey Μacroeconomic pressures are negatively influencing investor sentiment, according to the latest Royal Institution of Chartered Surveyors (RICS) UK Commercial Property Survey, which signalled a more cautious tone in the commercial property market. Rising interest rates remain a burden, with a net balance of -42% of respondents acknowledging worsening credit conditions in Q2. Indeed, +43% Read More
Economic Review – July 2022
UK economy expands in May The latest gross domestic product statistics show that the UK economy unexpectedly grew in May although forward-looking indicators still point to a deteriorating outlook. Figures released last month by the Office for National Statistics (ONS) revealed that the economy returned to growth in May after contracting during April. In total, UK economic output rose by Read More
Trust Registration Service – update
The deadline of 1st September 2022 for registering trusts on the Trust Registration Service (TRS) is fast approaching. As a reminder, the UK’s Trust Registration Service (TRS) is an online register of the beneficial ownership of trusts and was first introduced in 2017 as part of an EU anti-money laundering directive aimed at combating money laundering, serious crime, and terrorist Read More
Residential Property Review – July 2022
Cooling demand slows sales Demand is cooling in the UK housing market, according to the latest Residential Market Survey published by the Royal Institution of Chartered Surveyors (RICS). New buyer enquiries slipped to a net balance of -27% in June, a significant drop from the -9% recorded a month earlier. Net buyer enquiries had fallen nationwide for the first time Read More
Commercial Property Market Review – July 2022
Strong first half for commercial property Investment and take-up performed strongly in H1 2022, according to Savills’ latest UK Commercial Property update, while vacancy rates remained low. Overall investment levels in H1 2022 were 20% above the long-term average, even after slowing in the second quarter. The total half-yearly investment of £25.4bn came mostly towards the start of 2022, with Read More
