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 … Continue reading “Gambling on growth?”
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 … Continue reading “Fiscal Statement – The Growth Plan 2022”
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 … Continue reading “Residential Property Review – September 2022”
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 … Continue reading “Commercial Property Market Review – September 2022”
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 … Continue reading “US faces “sustained period of below-trend growth””
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 … Continue reading “Economic Review – August 2022”
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 … Continue reading “Residential Property Review – August 2022”
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 … Continue reading “Commercial Property Market Review – August 2022”
