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UK Productivity puzzle

Extract from Redwood Financial’s Economic Review July 2019 Recently-released figures have revealed that the UK’s sustained period of declining labour productivity continued during early 2019. The UK has suffered with weak productivity levels since the 2008 global financial crisis. In the 10 years following the financial crisis, productivity stagnated, with the UK witnessing the slowest…

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Property Market Review August 2019

First-time buyer numbers up 7.9% year-on-year

The latest UK Finance Mortgage Trends Update revealed that in April this year, 27,370 new first-time buyer mortgages completed. This was slightly down on the 28,860 agreed in March, but up 7.9% on a figure of 25,370 recorded in the same month in 2018.

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Property Market Review August 2019

Increase in second home ownership

According to think tank, the Resolution Foundation, the number of British people who own overseas property, buy-to-let or second homes has doubled since 2001, with wealth from owning a second property having risen to almost £1tn.

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Economic Review – April 2019

Stockpiling boosts UK economy The UK economy grew more strongly than expected in February as ‘pre-Brexit’ stockpiling provided a boost to the monthly rate of economic growth. Official gross domestic product (GDP) data released by the Office for National Statistics (ONS) has revealed that the economy expanded by 0.2% in February. While this does represent…

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Property Market Review August 2019

Residential Property Review – April 2019

‘Last-time Buyer’ numbers increase in home purchases Whilst first-time buyers make up just over 50% of residential home purchases currently, a further 30% of purchases, accounting for approximately 200,000 homes, are being made by buyers aged 55 or older. This research, conducted by the Intermediary Mortgage Lenders Association (IMLA), states that of this group, many…

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Economic Review — March 2019

Interest Rates remain on hold Inflation Rate ticks higher Markets BREXIT Deadlock UK Economy stuck in low gear Interest Rates remain on hold The Bank of England (BoE) has once again left interest rates unchanged, whilst reaffirming its belief that near-term monetary policy will remain inextricably linked to Brexit. All nine members of the Monetary…

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Property Market Review August 2019

Residential Property Review – March 2019

Average residential sales times longerTargets may not be met despite more homes being builtUncertainty continues   Average residential sales times longer Recent research from property portal, Rightmove, indicates that across the UK, the average time taken from when a property is first listed, until it is marked as under offer, has increased from 72 days…

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Spring Statement – 2019

We have huge opportunities ahead of us The Economy Employment and Wages Public spending and technology Housing Environment Other news Closing comments Forthcoming consultations, reviews and regulations Personal taxation changes announced at the Autumn 2018 Budget “We have huge opportunities ahead of us” Chancellor of the Exchequer Philip Hammond stood up in Parliament at 12.43pm…

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Economic Review — February 2019

MPs secure no-deal BREXIT veto Chancellor receives timely defecit boost Markets Employment rises to new record high UK Economy suffers slowdown   MPs secure no-deal BREXIT veto With less than four weeks until Brexit day, parliamentary gridlock means it remains unclear whether the UK will leave the EU as scheduled, or whether the Brexit process…

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