The UK government awarded hard-working medical staff a meagre 1% pay rise in the most recent budget, all the while splashing out on yet another indirect subsidy for house prices: the mortgage guarantee.Continue reading
Forget Covid-19 and Brexit. The question to which most people in the UK would want an uncertain answer is what will happen to house prices in 2021.
This year, the UK government must come up with solutions to the main crises that eat away at some ordinary Britons’ well-being. One of these is the housing crisis, which continues unabated despite the billions of pounds thrown at the problem.
As the major central banks are slowly retreating from their policy of asset purchases, we will probably witness some of the side effects of this withdrawal.
Warren Buffett famously said that “Only when the tide goes out do you discover who’s been swimming naked.” The tide is going out only slowly, but we are beginning to see, at least in the UK, the damage the ultra loose monetary policy has done.
A statement from Halifax shares the “good” news: home prices paid by first-time buyers are the highest ever.
In the first half of this year, first-time buyers paid on average £207,693 for a home, the highest price on record. This is 4% higher than a year ago, and 50% higher than five years ago.
Many people hope that the UK Prime Minister’s rhetoric calling for a fairer society means she will address what is by far the biggest inequality in today’s Britain: the housing crisis. But a recent speech, in which she outlined her plan for Brexit, seems to indicate that she is unwilling to really tackle the issue.
Ahead of the Chancellor’s Budget set to be published on March 16, there is a lot of speculation that he may announce other measures to cool down the buy-to-let property market. I don’t think he will need to: the market will cool down pretty rapidly once the regulatory changes that are coming for banks are understood by buyers. Admittedly, that will take a while. This article is for those who want to stay ahead of the game.
UK household wealth surged by 19% in a year to reach 9.1 trillion pounds ($14.4 trillion) at the end of 2014, data from Lloyds Bank Private Banking show.
By Antonia Oprita
Well, the (partial) results are in and the Conservatives have won one of the most uncertain elections in the UK.