UK inflation rose at its fastest annual pace for nine months in December.
The Office for National Statistics said the Consumer Price Index (CPI) measure of inflation had risen to 2.9%, up from an annual rate of 1.9% in November. That was the biggest jump in the annual rate from one month to the next since records began, and exceeded the City’s expectations of an increase to 2.6%.
The annual increase in CPI mainly came about because of a number of unusual factors that had depressed prices a year earlier. These included a near-record fall in oil prices in December 2008, the VAT cut to 15% and retail discounting, the Office for National Statistics said.
Core CPI, which excludes food, energy, tobacco and alcohol, rose by 2.8% on the year, which is the fastest pace of growth since records began in January 1997.
After sharp corrections seen in fellow euro members, Spain and Ireland, France’s property market and specifically Paris is not looking like it will follow its neighbours as prices show steady growth in the first 6 months of 2008.
August 12, 2008
Cyprus has been flagged up as a good option for overseas property buyers who are seeking returns on their investment.
The Mediterranean island was recommended by Homes Overseas magazine on the strength of its growing housing market. (more…)
July 16, 2008
The Nationwide and Britannia building societies – respectively the first and second largest in the country – have reshaped their mortgage offerings.
With effect from Friday, Nationwide has announced it is to reduce the rates on its two, three and five-year fixed-rate and two-year and lifetime tracker mortgages by as much as 0.46 per cent.
(more…)
July 10, 2008
For the first time in 5 years the FTSE dropped more than 20 per cent below its historic peak on Tuesday 8th July (more…)
June 10, 2008
Britain has retained its crown as the top destination for inward investment from Europe due to London’s attractiveness according to a survey released on 5th June which tracks direct investment projects across the continent. (more…)
June 9, 2008
China has recently announced a huge investment into the Port of Tallinn which will enhance Estonia’s position as the main transit port for the Baltic area.
China’s Ningbo Port has agreed to help build an approximately 150 million euro container terminal and goods warehouse together at Muuga on the eastern side of Tallinn. Port of Tallinn Chairman, Ain Kaljurand was quoted as saying that the terminal should be completed by the beginning of 2011 and that total investments would amount to $220 million. (more…)
May 29, 2008
MPs have recently called for a cut on VAT from 17.5% to 5% on the price of repairing and maintaining a rental property to incentivise landlords to keep up with the maintenance on their properties.
The recommendation has been put forward by the House of Commons’ communities and local government select committee in their report The Supply of Rental Housing. The committee has identified that some landlords are struggling to keep their properties in good condition due to the high cost of refurbishment, (more…)
May 19, 2008
More people want house prices to fall than to rise, BBC research has found.
That is the surprise finding of the first poll to test the assumption that house price falls are unpopular and therefore politically damaging.
Barely a fifth of people want house prices to rise - fewer than the number of people who want them to fall.
The poll of 1,005 people, commissioned by the BBC, found that only 22% said they wanted prices to go up (more…)
LONDON (Reuters) - Asking prices for property in England and Wales rose to a record high in May, a survey shows, with house price inflation accelerating despite expectations for a much weaker housing market this year.
Property Web site Rightmove said average asking prices rose 2.2 percent on a year ago between April 13 and May 10 to hit an average 242,500 pounds, compared with a 1.3 percent annual rise in the month before. (more…)