Global update

Inflation triggers concerns over growth Investor sentiment was undermined during April by concerns over inflation, fears relating to the war in Ukraine, and worries about the wider economic impact of Covid outbreaks in China. The International Monetary Fund (IMF) cut its forecast for global growth from 4.4% to 3.6% this year and from 3.8% to … Continue reading “Global update”

Economic Review – April 2022

IMF cuts growth forecast The International Monetary Fund (IMF) has warned that economic damage from the Ukraine conflict will contribute to a significant slowdown in the global economy with the UK set to be amongst the hardest hit. In its latest assessment of world economic prospects, the IMF said the war in Ukraine is driving … Continue reading “Economic Review – April 2022”

Residential Property Review – April 2022

Supply shortages fail to blunt sales Low availability is once again the key trend in the UK housing market, even as stock levels edge upwards and sales remain strong. In March, estate agents reported a 3.5% monthly rise in the level of stock on their books, according to Zoopla. Moreover, the number of homes coming … Continue reading “Residential Property Review – April 2022”

Commercial Property Market Review – April 2022

Industrial space in high demand in Q1 Elevated occupier demand has driven strong UK industrials and logistics take-up in Q1 2022, according to the latest research. The take-up of 10.43 million sq. ft in the first quarter is double the total in the same period last year, CBRE noted. Q1 2022 saw take-up more than … Continue reading “Commercial Property Market Review – April 2022”

Ukraine and inflation share the spotlight in March

Question-marks over global growth Alongside the heavy human cost of Russia’s war in Ukraine, the Organisation for Economic Development (OECD) issued a warning about the economic impact. The crisis is set to drive up the rate of global inflation by around 2.5%, with high prices for oil, gas and wheat likely to persist. Many large … Continue reading “Ukraine and inflation share the spotlight in March”

Economic Review – March 2022

Bank Rate raised again Last month, the Bank of England (BoE) sanctioned a further increase in its benchmark interest rate as inflation continues to surge significantly ahead of the Bank’s target level.  Following a meeting held in mid-March, the BoE’s nine-member Monetary Policy Committee (MPC) voted by an 8-1 majority to raise Bank Rate from … Continue reading “Economic Review – March 2022”

Residential Property Review – March 2022

Sales up as demand stays strong 2022 has picked up where 2021 left off, with near-record demand leading to the busiest January and February since 2016, according to Zoopla. Sales agreed in February were 31% above the 2017-19 average for the month, according to TwentyCi, matching levels last seen at the start of 2021. Meanwhile, … Continue reading “Residential Property Review – March 2022”

Commercial Property Market Review – March 2022

Prime space snapped up by legal firms More than one million sq. ft of Grade A office space was taken up by the legal sector in 2021, highlighting the importance of the ‘best’ space in the post-pandemic landscape. London’s resilient legal sector has enjoyed strong revenue and increased headcount over the last year, which has … Continue reading “Commercial Property Market Review – March 2022”

Global stock markets fell as Russia moved on Ukraine

Investors experienced fresh market volatility towards the end of February as global financial markets reacted to Russia’s invasion of Ukraine and widespread government sanctions imposed on Russian financial institutions and oligarchs.  European Commission President Ursula von der Leyen warned: “These sanctions will suppress Russia’s economic growth; increase the borrowing costs; raise inflation; intensify capital outflows; … Continue reading “Global stock markets fell as Russia moved on Ukraine”

Economic Review – February 2022

Interest rates rise again In February, the Bank of England’s Monetary Policy Committee (MPC) announced an increase in its main interest rate for the second meeting in a row as the Bank continues to grapple with a rapid rise in the cost of living. At its latest meeting held in early February, the MPC sanctioned … Continue reading “Economic Review – February 2022”