Recovery in the residential market Recent data indicates that the residential property market is continuing to recover. According to TwentyCi, in the period from June to August 2024, sales agreed were only 1% lower than pre-pandemic levels. Promisingly, the number of new property listings was up 3%, indicating growing confidence among sellers. Meanwhile, Bank of […]
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Commercial Property Market Review – September 2024
Growth expected in commercial property market Savills expects to see growth in the UK’s commercial property market in Q4. The sector had a good start to 2024, as cross-border investment hit $14bn in H1, with the UK attracting more capital than the USA or any European peers. Investors were given a further boost by the […]
News in Review
“I’ve been really clear that the Budget… will require difficult decisions” Last week, Chancellor Rachel Reeves, who faced criticism over the Winter Fuel Payment vote, said the Budget on 30 October is set to involve “difficult decisions,” on key areas such as spending, tax and welfare. Her cautionary tone came hot on the heels of […]
What advice would you give to your younger self?
A survey1 has found that 51% of people would tell themselves to start saving as soon as they can. Meanwhile, 41% would say to take more care of their health, and a third would advise worrying less about what other people think. How old do you feel? The same report also asked UK adults when […]
Aberdeen is the cheapest city for FTBs
Jobs permitting, those looking to get on the property ladder may start flocking to Aberdeen, as a report has found it is the most affordable city to be a first-time buyer (FTB)1. Under the assumption that a FTB home has two bedrooms or fewer, the average asking price for a property in Aberdeen is £102,601. […]
News in Review
“While the UK economy will perform better this year, it’s unlikely to be heading into the fast lane any time soon” The UK economy will now grow at a faster rate than previously thought in 2024, according to a report by the British Chambers of Commerce (BCC) released last week. The upgrade to 1.1% for […]
Advice for first-time buyers
Getting a foot onto the property ladder has always presented challenges. Research suggests FTBs could currently be experiencing the most expensive conditions in 70 years1. Who is most affected? In the current property market, a successful first purchase often requires two high incomes plus financial support from family members. Therefore, those who are buying alone, […]
Making sure you’re sufficiently insured in your ‘middle years’
Research1 has found that people in their 30s and 40s could be slipping through the net when it comes to protection cover. The data highlights that those in this age bracket are more likely to have inadequate protection cover for their mortgage, should the worst happen. Has your protection caught up? Many people experience significant […]
News in Review
“Shop prices fell into deflation for the first time in nearly three years” Fashion retailers trying to shift stock through summer sales helped shop prices to record their first annual fall for nearly three years, according to research from the British Retail Consortium (BRC). Prices in August were down 0.3% from a year ago, the […]
Economic Review – August 2024
BoE starts to cut rates In early August, the Bank of England (BoE) sanctioned the first reduction in interest rates since March 2020 and economists expect a second cut to be announced before the end of this year. The closely-run decision was announced on 1 August following the latest meeting of the Bank’s Monetary Policy […]
