Commercial Property Market Review – December 2024
Robust demand for Scottish hotels The Scottish hotels market continued to show resilience in Q3 according to Colliers. Hotel investment in Scotland hit £110m in quarter three – £40m more than Q2 and 150% higher than the five-year quarterly average of £44m. The year-to-date investment total is £200m – up 18% when compared with the […]
News in Review
“The economy contracted slightly in October, with services showing no growth overall and production and construction both falling” Key takeaways The UK economy contracted again in October, according to official figures released on Friday by the Office for National Statistics (ONS). The unexpected fall of 0.1% marked two consecutive months of negative growth for the […]
News in Review
“Mark my words: with this Plan for Change, we will stick to it. Country first, party second” Key takeaways Prime Minister Sir Keir Starmer delivered a speech last Thursday at Pinewood Studios on the government’s ‘Plan for Change.’ In it, he set out “six milestones” to be completed before the next general election, with new […]
News in Review
“Housing affordability has improved over the past year, thanks to stabilising property prices, strong wage growth, and easing interest rates” Buying a home is becoming more affordable relative to income, according to the latest Halifax Affordability Review released last Thursday, as the house price to income ratio continues to fall. Strong wage growth combined with […]
Economic Review November 2024
Interest rates set to fall more gradually Last month, the Bank of England (BoE) cut interest rates for only the second time since 2020 but also warned future reductions were likely to be more gradual due to the prospect of inflation creeping higher next year. Following its latest meeting, which concluded on 6 November, the […]
News in Review
“We know that families across Britain are still struggling with the cost of living” UK inflation was 2.3% in October, according to figures released last week by the Office for National Statistics (ONS), the first rise in the UK’s consumer prices index (CPI) for three months. As well as faring worse than economists had expected, […]
Commercial Property Market Review – November 2024
Commercial property market outlook Despite anticipation of the Autumn Budget, Savills reported that the commercial property market remained stable in October, with some areas of growth. There was no change in pricing across any commercial asset class last month, with the average prime yield remaining at 6%. Eight sectors are now experiencing a downward pressure […]
News in Review
“Harnessing the power of this multi-billion-pound industry is a win-win, benefiting future pensioners, and our wider economy” Last Thursday, Chancellor Rachel Reeves used her first Mansion House speech to outline her new plan for pension funds, intended to shake up UK pension saving and unlock £80bn of investment. Ahead of the speech, the Chancellor revealed […]
News in Review
“This is a magnificent victory for the American people” Last week, after intense months of campaigning, Donald Trump made a triumphant comeback to be voted 47th President of the United States. The Republicans secured a decisive victory, winning crucial swing states, also regaining control of the US Senate. Trump’s victory was surprisingly conclusive after opinion […]
News in Review
“The only way to drive economic growth is to invest, invest, invest” Rachel Reeves delivered the first Labour Budget in 14 years on 30 October, during which she announced £40bn of tax rises. She outlined a series of new tax and spending measures, some of which had been widely trailed prior to Budget day, saying, […]