BREXIT saga rumbles on

Extract from Redwood Financial’s Economic Review August 2019 With the second deadline now less than 60 days away, it remains unclear how the Brexit saga is ultimately going to play out, although the chance of a no-deal scenario continues to rise. While efforts to negotiate a new Brexit deal are continuing, the current position is…

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Inflation rises unexpectedly

Extract from Redwood Financial’s Economic Review August 2019 The headline rate of inflation edged above the Bank of England’s (BoE) target last month, amid concerns sterling’s recent decline could exert further pressure on prices. Data from ONS showed that the Consumer Prices Index 12-month rate – which compares prices in the current month with the…

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Markets

Extract from Redwood Financial’s Economic Review August 2019. Data compiled by TOMD In August, trade tensions between the US and China continued to weigh on sentiment. Statements from President Trump and China’s commerce ministry on 29 August, detailing that the countries were engaged in trade talks, brought some respite to global equities at the end…

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Retail sales rise

Extract from Redwood Financial’s Economic Review August 2019 The latest retail sales figures proved to be stronger than analysts expected, buoyed by the largest rise in online spending for three years. Official data published by ONS showed that retail sales volumes rose by 0.2% during July, defying the consensus market forecast which had predicted a…

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Employment at new record high

Extract from Redwood Financial’s Economic Review August 2019 The latest batch of employment data released by the Office for National Statistics (ONS) shows that the UK labour market remains in robust health, with the total number of people in work rising to another record high. Statistics from the Labour Force Survey showed that a net…

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Property Market Review August 2019

BREXIT-related uncertainty remains in residential market

Extract from Redwood Financial’s Residential Property Review August 2019 In its August Inflation Report, the Bank of England has reported that the housing market remains weak, but there are some signs of stabilisation.  The latest NMG survey, which is a biannual household survey commissioned by the Bank and covers over 6,000 households, revealed an expectation…

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Property Market Review August 2019

Buyer’s market likely in second half of 2019

Extract from Redwood Financial’s Residential Property Review August 2019 Recent research from Rightmove indicates that buyers may be able to obtain good deals in the remainder of 2019, with lower prices combined with high stock levels.  The research also shows that market fundamentals such as low interest rates and record employment levels remain strong. Additionally,…

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Property Market Review August 2019

A new era of renting — Build To Rent

Extract from Redwood Financial’s Residential Property Review August 2019 A relatively new category in the rental market, Build to Rent, saw total investment of £2.6bn in 2018, an 11% increase from 2017 and it looks likely that this sector will continue to grow quickly. Whilst home ownership remains an aspiration for many, figures show the…

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No-deal BREXIT prospects rise

Extract from Redwood Financial’s Economic Review July 2019 The possibility of a no-deal Brexit has increased significantly over the course of the past month despite further warnings over the potential economic consequences such a situation could incur. On 23 July, Boris Johnson was officially confirmed as the new leader of the Conservative party and thereby,…

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Fears of imminent recession

Extract from Redwood Financial’s Economic Review July 2019 Although the economy returned to growth in May, fears of a slowdown are mounting, with some economists warning that the UK may be on the verge of a recession. Official gross domestic product (GDP) data released by ONS shows that the UK economy grew by 0.3% in…

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