Stronger recovery predicted The UK economy returned to growth in February and survey evidence suggests a strong recovery is imminent, as lockdown restrictions ease and the vaccine rollout continues at pace. Data published by the Office for National Statistics (ONS) showed the economy grew by 0.4% in February, as businesses prepared for the lifting of … Continue reading “Economic Review April 2021”
Residential Property Review – April 2021
Spring sees the busiest ever housing market Growing optimism due to the vaccine rollout, the return of low-deposit mortgages and the Stamp Duty holiday extension for England and Wales, have contributed to make this spring the best time to be a property seller in a decade, according to property website Rightmove. The online property portal … Continue reading “Residential Property Review – April 2021”
Economic Review March 2021
BoE: Outlook ‘unusually uncertain’ The Bank of England (BoE) has expressed growing confidence that a near-term recovery is gathering pace, although policymakers appear split over the country’s longer-term economic prospects. Gross domestic product (GDP) figures released by the Office for National Statistics (ONS) showed the UK economy shrank by 2.9% in January as the third … Continue reading “Economic Review March 2021”
Residential Property Review – March 2021
Stamp Duty holiday extension In his Budget on 3 March, Chancellor Rishi Sunak confirmed an extension to the Stamp Duty holiday in England and Northern Ireland. Rather than ending on 31 March, as originally announced, the nil-rate threshold for Stamp Duty will remain at £500,000 until 30 June. The extension means that buyers will save … Continue reading “Residential Property Review – March 2021”
Economic Review February 2021
UK economy poised for recovery Although the latest gross domestic product (GDP) statistics revealed the UK suffered a record slump in 2020, there are now growing hopes the economy is on the cusp of recovery. Figures published by the Office for National Statistics (ONS), showed the UK endured a record fall in output last year … Continue reading “Economic Review February 2021”
Residential Property Review – February 2021
House price growth slows Several recent reports have confirmed that house price growth is slowing, but there are reasons to believe that the housing market will be more stable than last year. According to Knight Frank, the third lockdown and the imminent end of the Stamp Duty holiday have played a major part in delaying … Continue reading “Residential Property Review – February 2021”
Economic Review January 2021
Vaccinations provide economic hope Although recently released data has revealed a decline in UK economic activity, Bank of England (BoE) Governor Andrew Bailey, has expressed hopes that the vaccine roll-out programme will begin to spark a “pronounced recovery.” The latest gross domestic product (GDP) figures published by the Office for National Statistics (ONS) showed the … Continue reading “Economic Review January 2021”
Residential Property Review – January 2021
Momentum in residential market expected to slow The UK residential property market closed 2020 with a bang, with Nationwide reporting annual house price growth of 7.3% in December – a six-year high. In its December UK Residential Market Survey, however, the Royal Institution of Chartered Surveyors (RICS) has pointed to evidence that momentum is starting … Continue reading “Residential Property Review – January 2021”
