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
REAP THE REWARDS OF FINANCIAL ADVICE
Those people who took financial advice between 2001 and 2007 had accumulated significantly more in liquid financial assets and pension wealth by 2012–14 than their peers who chose not to take professional advice, according to a report by the UK think-tank, the International Longevity Centre, produced in conjunction with insurers Royal London. The report demonstrated that those who receive financial advice are on average £40,000 better off than those who don’t.
For full briefing click here. Your Money Autumn 2017
Autumn Budget November 2017
In Philip Hammond’s first Autumn Budget, the second Budget of 2017, the Chancellor of the Exchequer promised that his Government would, “invest to secure a bright future for Britain”. Set amid a backdrop of political and economic constraints, and with Brexit negotiations at a critical phase, the Conservatives are under intense pressure. The abolition of stamp duty for most first-time buyers and an array of other housing measures were prominent announcements.
For full briefing click here. Autumn Budget 2017
Scottish and London commercial property “lag UK”
The Royal Institution of Chartered Surveyors (RICS) have reported in their most recent UK Commercial Market Survey, that in the third quarter of the year, occupier demand increased across the majority of the UK. The industrial sector was pinpointed as the main driver of improvement. Office space demand remained flat.
For full briefing click here. Property Market Review October 2017
UK ECONOMIC GROWTH STRONGER THAN EXPECTED
The UK economy has shown some signs of resilience posting a higher than expected growth rate during the third quarter of 2017. Official data published by the Office for National Statistics (ONS) suggests that gross domestic product (GDP) rose by 0.4% in the three months to September 2017. This preliminary third quarter estimate was higher than the 0.3% growth rates recorded during each of the first two quarters of this year. It was also 0.1% higher than the consensus forecast from a poll of city economists.
For full briefing click here. Economic Review October 2017
UK housing market continues to lack momentum.
In the UK Residential Market Survey of September, the Royal Institution of Chartered Surveyors summarise that the UK housing market continues to lack momentum. The slowdown is exacerbated by the combination of both new buyer demand and sales continuing to fall. As the market slows, the shift in interest rate expectations is contributing to buyer caution, with sentiment now flatter than at any point since the referendum
result last summer.
For full briefing click here. Residential Property Review October 2017
PROPERTY PRICE CORRECTION COULD HURT BABY BOOMERS
Some experts are predicting that the residential property market is heading for a price correction, and while this spells good news for those would-be buyers who have all-but despaired of ever owning their own home, it could mean less cash in retirement for
the baby-boomer generation.
For full briefing click here Your Home Finance Autumn 2017
Scottish hotels attract overseas investors
Whilst some areas of the commercial property market are marking time post-Brexit, the Scottish hotels sector appears to be bucking the trend. Respected commercial and residential agents, Savills reveals that this particular market has attracted overseas investment of over £51m in the current year to date. This represents a six-fold increase on last year’s annual total of £7.8m. A large proportion of this investment has come from US investors, who have pumped over £35 million into hotel investment in Edinburgh so far this year. Indian investors also have shown increased interest with investment in the sector estimated at £8.3 million.
For full briefing click here. Property Market Review September 2017
HOW MUCH WILL YOUR SPENDING CHANGE IN RETIREMENT?
The simple answer is that some expenditure will go up, some will stay the same, and some will go down or disappear altogether. There’s a widely held view that you’ll need between half and two-thirds of your final salary, after tax, to maintain your lifestyle
For full briefing click here. Your Wealth Autumn 2017