Record year for London commercial property market.
This year the commercial property market in central London is set to exceed £20 billion of transactions and may well surpass the record set in 2014 of £21.6 billion, according to the property adviser Savills. Their data reveals that the first nine months of the year saw £14.2 billion of completed transactions with buyers coming from no less than 27 different countries.
For full briefing click here. Property Market Review November 2017
GROWTH DOWNGRADE CASTS A SHADOW OVER THE BUDGET
Chancellor of the Exchequer, Philip Hammond, offered an optimistic vision of the UK’s future when delivering his first Autumn Budget on 22 November. But downgrades to the latest economic forecasts, released alongside his Budget Statement, overshadowed the Chancellor’s announcements.
For full briefing click here. Economic Review November 2017
Bank of England’s Base Rate increase to have “modest impact”
One of the UK’s leading mortgage providers, Nationwide, believes that the recent increase in interest rates from 0.25% to 0.5%, announced by the Bank of England, following the Monetary Policy Committee’s meeting in early November, will have only a “modest impact” on most UK households, because an increasing number of homeowners are now on fixed-rate mortgages.
For full briefing click here. Residential Property Review November 2017