Base Rate Holds

The MPC voted to hold its benchmark rate at 0.5% per annum on 10 May 2018. The vote was 7-2 with Michael Saunders and Ian McCafferty backing a 0.25% per annum hike.  There was a unanimous decision to keep the asset purchase target at 435 billion pounds and to leave plans to buy as much…

Housing Target Within Reach

The Scottish Government’s 50,000 affordable housing target is within reach by the end of this parliament, an independent report has concluded. The report commissioned by Shelter Scotland, the Scottish Federation of Housing Associations (SFHA) and the Equality and Human Rights Commission in Scotland, examined the 32 Scottish councils’ housing plans and revealed that 49,773 affordable…

CPI at 3%

The Bank of England Inflation Report published on 08 February 2018 showed that CPI remained at 3.0% per annum in January 2018, having risen to 3.1% per annum in November 2017. At the same time average earnings have started to rise narrowing the gap between earnings and prices. Although the Monetary Policy Committee left rates…

Latest House Price Inflation Indicators

The following is a summary of the latest indices relating to U.K. house prices.

Halifax: 4.5% YoY (Oct 2017)

Nationwide: 2.5% YoY (Oct 2017)

Rightmove: 1.4% YoY (Oct 2017)

ONS: 5.0% YoY (Aug 2017)

The Royal Institute of Chartered Surveyors reported a balance of +6% from its members in September (+6% in August).