Budget: Low-tax ‘investment zones’ to be rolled out across UK

Hunt to announce approximately £1 bn support for investment zones across the UK , in order to boost growth in key sectors. Each zone will receive £80mln of public support over five years, alongside gaining tax incentives such as lower business rates or employer national insurance, according to Financial Times sources. The aim is to upskill workers and provide specialist support for businesses, many of which have called for further public funding in recent months. Hunt’s scheme will partially bring the plan to life, operating alongside ‘freeports’ at twelve UK airports and

Property Consulting

Green light ready for Mixed- Use scheme:

An application proposing the creation of a series of blocks providing both commercial and residential space could soon move forward. The application site comprises a number of blocks in commercial use, including a gym, barbers, hot food takeaways, restaurants, estate agents and nail salon. This would deliver net gains on residential units and would increase housing affordability. The approval of this scheme has been recommended and the application itself has demonstrated that it can be developed within the existing framework . _____________________________ Shou


Major defence investment in launch of integrated review refresh announced:

UK has launched the 2023 Integrated Review refresh to respond to the increasing global volatility. They have confirmed an additional £5billion to be provided to the Ministry of Defence to bolster 'ammunition stocks' , fund the next phase of the AUKUS submarine programme and modernise the UK's nuclear enterprise. This has been the largest sustained increase since the Cold War (1991). The Prime Minister will also set out an ambition to increase defence spending to 2.5% of GDP in the longer term, and the UK will lead a conversation with Allies on future posture and burden sha

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How property technology could help solve the UK’s housing crisis:

House prices have been rising without a rhyme or reason for years, however, there aren't enough properties to buy and a majority of the properties don't mee the government standard. However, the ever evolving landscape of property technology is providing digital solutions to the property and real estate scene. The average house in England is costing 9 times the amount over the average salary and so affordability is a major issue in this crisis. The spiralling price of property has encouraged entrepreneurs from proptech and fintech to come up with solutions that make ascend


Recession in the US: more women are now worried about retirement

Nearly half of women in the US are facing a financial crisis; approximately a quarter of women are facing one according to the nationwide survey. There is a lack of preparation for the recession, due to locals being blindsided by the events in the outside world. Working women are currently finding it hard to balance their lifestyles and are therefore looking to relocate if it will be cheaper. The stress levels have been increased by 10% since the pandemic , related to feeling that women may not be able to retire at all. However, as women are now allowed to have a bigger ro


USA: Retirees remaining anxious despite the decline in inflation!

Almost 55% of Senior Citizens will remain sceptical of the rising costs this year, despite the fact the rate of inflation is trending downwards. Virtually the same proportion of respondents said that in 2022, their household costs rose by more than the 6% of the increase in benefits from that year. As to whether 2023 will be the year in which seniors catch up with inflation, an overwhelming 96% of survey respondents don’t think so. On a political note, 62% of the respondents think Congress should protect Social Security and Medicare benefits from delays or automatic cuts t

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Australian Property companies’ earnings suffering!

Rising interest rates could prompt wave of forced sales, further hitting house prices. This has also led to new listings collapsing and sellers unwilling to reduce their prices to the level of many other companies. The real estate company, McGrath has reported an 83% drop in net profit for the next six months, due to the poor spring season. This significant drop has been predicted by reduced sale volumes. The owner of the company predicts rising house prices in 2024, and remarks on the need for a 'breather' after the rapid growth of the past 3 years. The pullback in listin

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Approximately 13000 companies with UK property have failed to declare owners!

These offshore companies will now be facing fines and bans on selling their land, as indicated by the government. The introduction of the new register of overseas owners of UK properties, saying it had been “invaluable for tax and revenue services, bringing transparency to opaque offshore trusts often used to obscure assets for tax purposes”. This number is approximately 40% of properties beneficial owners. There would now be further investigatory powers for Companies House and the Insolvency Service and investment of up to £20m to spend tackling money laundering through c


Why have interest rates in the UK increased, again?

The Bank of England has raised interest rates for the 10th time in a row, upping the base rate from 3.5 per cent to 4 per cent. The Bank have commented upon the fact that the UK is still heading into a recession, however, but the downturn will be shorter and less steep. Therefore, we will be able to recover quicker. Peak-to-trough gross domestic product (GDP) is set to shrink by 1 per cent – down from the 3 per cent previously projected. Rates will then stay above 3.25 per cent for at least the next three years, according to the forecast. This is despite inflation starting

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UK industrial real estate market is plummeting!

The UK industrial property values have fallen by approximately 26% in 6 months. Since 2008, there has never been such a loss of value in such a short period of time. However, since 2022, the yields on industrial property has increased by more than 120 basis points. Quarterly rental growth remained positive for hotel, office, residential and industrial property, according to the index. A 12.8% drop in all-property capital values in the last three months of 2022 was the major drag on performance as high inflation, rising interest rates and a higher cost of capital all impact