IMF cuts growth forecast The International Monetary Fund (IMF) has warned that economic damage from the Ukraine conflict will contribute to a significant slowdown in the global economy with the UK set to be amongst the hardest hit. In its latest assessment of world economic prospects, the IMF said the war in Ukraine is driving up fuel and food prices Read More
Residential Property Review – April 2022
Supply shortages fail to blunt sales Low availability is once again the key trend in the UK housing market, even as stock levels edge upwards and sales remain strong. In March, estate agents reported a 3.5% monthly rise in the level of stock on their books, according to Zoopla. Moreover, the number of homes coming to market has exceeded new Read More
Commercial Property Market Review – April 2022
Industrial space in high demand in Q1 Elevated occupier demand has driven strong UK industrials and logistics take-up in Q1 2022, according to the latest research. The take-up of 10.43 million sq. ft in the first quarter is double the total in the same period last year, CBRE noted. Q1 2022 saw take-up more than 36% above the long-term quarterly Read More
Economic Review – March 2022
Bank Rate raised again Last month, the Bank of England (BoE) sanctioned a further increase in its benchmark interest rate as inflation continues to surge significantly ahead of the Bank’s target level. Following a meeting held in mid-March, the BoE’s nine-member Monetary Policy Committee (MPC) voted by an 8-1 majority to raise Bank Rate from 0.5% to 0.75%. This was Read More
Residential Property Review – March 2022
Sales up as demand stays strong 2022 has picked up where 2021 left off, with near-record demand leading to the busiest January and February since 2016, according to Zoopla. Sales agreed in February were 31% above the 2017-19 average for the month, according to TwentyCi, matching levels last seen at the start of 2021. Meanwhile, mortgage approvals in January were Read More
Commercial Property Market Review – March 2022
Prime space snapped up by legal firms More than one million sq. ft of Grade A office space was taken up by the legal sector in 2021, highlighting the importance of the ‘best’ space in the post-pandemic landscape. London’s resilient legal sector has enjoyed strong revenue and increased headcount over the last year, which has driven demand for office space. Read More
Economic Review – February 2022
Interest rates rise again In February, the Bank of England’s Monetary Policy Committee (MPC) announced an increase in its main interest rate for the second meeting in a row as the Bank continues to grapple with a rapid rise in the cost of living. At its latest meeting held in early February, the MPC sanctioned a quarter of a percentage Read More
Residential Property Review – February 2022
Promising signs in the UK housing market Following a record-breaking 2021, continuing strong numbers of agreed sales and approved mortgages suggest transactions are likely to stay high over the next few months. Net mortgage debt by individuals decreased slightly to £3.6bn in December 2021, according to the Bank of England Net mortgage debt by individuals decreased slightly to £3.6bn in Read More
