Property Consulting

Looking to 2023: Were the house price forecasters correct?

The mass uncertainty of much of what has gone on has made the job of predicting the future of the housing market especially challenging. Back in January 2022, the Residential Market Survey, based on a poll of estate agents, was optimistically reporting increasing buyer demand and a shortage of stock. Agents expected both prices and sales numbers to increase over spring – and they were right. The housing market demand to started melting away during the boiling hot summer. Since then, the combination of political whirlpool, the mini budget, rising interest rates, and the cos

Investment

Investment regime is vital to boost UK’s growth:

The ‘worst’ of the spending cuts have been pushed back well into the next election cycle, the tax raids will begin sooner rather than later – be that on energy generators or on aspirational Londoners. Projections of the UK’s economic performance over the coming years signed off by the Treasury watchdog seem to us more than a tad optimistic. The CBI are right to question whether the Government is paying attention to the ‘growth’ bit of George Osborne’s famed ‘sharing the proceeds of growth’ mantra. Billingsgate will move from Canary Wharf, and Smithfield from Farringdon, to

Investment

Qatar reviews investment in London after TfL ads are banned

TfL has banned the Gulf state's tourism over the countries anti-gay laws. The ban has reportedly angered Qatari authorities, who have faced strong criticism in the run-up to and during the World Cup including the criminalisation of homosexual relationships. The state’s $450bn (£372bn) sovereign wealth fund, the Qatar Investment Authority (QIA), is one of the capital’s largest property owners, with Harrods, the Shard and the prestigious Savoy and Grosvenor House hotels among the iconic buildings on its portfolio. It is also a co-owner of Canary Wharf and has a 20 per cent s

Property Consulting

Property downturn hits construction as house sales plummet:

Demand for properties has been cut by half as the high mortgage rates are coming to bite those coming onto the property ladder. As a result, construction companies are pulling away from new projects which is putting the government target for housing at risk for not being met. This is being classed as a "transitional period" as the property market is adjusting to higher borrowing costs. If property prices fall and there are higher rates for raw material, there will be major employment cuts and hence, people unemployed. All factors pointing towards a recession. This is the r

Investment

NHS investment boosts wider UK economy!

Each £1 spent on health generates £4 of growth for the wider economy as there has been increasing workforce numbers after the post-pandemic drop in GDP. The health services are battling rising inflation, high energy costs and the prospect of further spending reduction as the government have enforced the "fiscal discipline" due to the setting of Kwarteng's mini budget. Post the era of high sickness levels causing absences great investment in the NHS is needed to reduce the treatment backlog but also the allowing an increase in people able to work. From the 2015-2020 data co

Investment

Financial scams ‘now a threat to UK’s security’

Financial fraud should be treated as a national security threat, experts have said. An industry trade body warned criminal gangs were now bypassing banks' advanced security systems and targeting customers directly. UK Finance said £90.5million of APP scams was due to criminals impersonating people such as bank staff or police. The number of individuals being scammed are increasing exponentially and are not being saved, leaving them helpless. _____________________________ How can technology be improved to combat this ever growing issue?

Investment

The UK is in financial turmoil and investments and pension:

There has been a severe blow to ISAs and shares if they are in bond funds as they are now being sold as cautious, safe investments. The ones invested in UK gilts fell by 12% within 2 days of Kwasi Kwarteng's budget. Normally pension funds are steadier than the stock (equity) market, as they have a mix of shares, bonds and property. You have little to worry about if you have a final salary-style pension, where what you get is related to how much you earn. But they are mostly limited to the public sector now. This is almost always a sensible thing to do if you have spare cas

Investment

Foreign investment grows in Northern England but falls in the rest of UK:

The value of foreign investment has grown by almost 75% in the North of England in the last half decade. However, in the South of England, including London the picture is not the same. Figures even show that the number of FDI projects in the North have now reached approximately 33% and new jobs have risen by almost 20%. The agenda for growth in the South dwindled under the Tory leadership, it is now Truss' job to pick it back up. In London, FDI has fallen by 14% in comparison to the start of the decade. This has been carried out by the 'Northern Powerhouse' whose agenda it

Investment

Truss warned corporation tax cuts have not fuelled investment:

Business investment in the UK has fallen to the bottom of the G7 group of wealthy nations, despite the tax cuts. Ministers are preparing for £30bn of giveaways targeted at companies and high income workers. These cuts were put in place to help drive up economic growth towards a target rate of 2.5% a year. However, the IPPR said slashing the headline rate from 30% in 2007 to 19% in 2019, orchestrated by the former chancellor, George Osborne, did not spur higher private investment or faster economic growth. Studies have shown corporation tax cuts used by successive Conservat

Investment

Truss could slash personal taxes in ‘investment zones’ under economic plans

Liz Truss is considering plans to slash personal taxes in addition to business levies in new “investment zones” as she seeks to set the wheels of her economic strategy in motion. The proposed “investment zones”, dubbed “full fat freeports”, were a staple of Ms Truss’s campaign for the Tory leadership. Under her plan, Ms Truss said these areas would benefit from a low-tax burden, reduced planning restrictions and regulations tailored on a case-by-case basis. Ministers are also said to have discussed whether environmental protections could be watered down in these areas to c