Halifax House Price Index – July 2020[1] Average Price Monthly Change Quarterly Change Annual Change £241,604 1.6% -0.2% 3.8% Economic Performance Q1 Growth Q2 Growth BoE Interest Rate -2.2% -20.4% 0.1% The Data July saw a significant rebound from the continual fall in house prices seen in the four months preceding. Average prices grew by 1.6% on a month-on-month basis, though prices still sat 0.2% lower in Q3 than in Q2, suggesting that this return to positive growth is not quite enough to wipe out the losses brought about by the pandemic and lockdown measures. From a year-on-year standpoint, house prices are … Continue reading UK Property Market – August 2020 Update

UK Property Market – July 2020 Update Halifax House Price Index – June 2020[1] Average Price Monthly Change Quarterly Change Annual Change £237,616 -0.1% -0.9% 2.5% The Data June saw a 0.1% decrease in house prices from May, marking the fourth consecutive month of falling house prices. Moreover, the index measured prices as have lost just under 1% of their value during Q2 (i.e. April, May and June). While this is similar to house price movement seen at the peak of the financial crisis, the annual change shows that house prices are still 2.5% above their level this time last … Continue reading UK Property Market – July 2020 Update

This week’s blog looks at the newest round of measures taken by the government to try to mitigate the economic damage caused by the Covid-19 pandemic. Around £125bn in stimulus has already been deployed, significantly boosting the UK’s national debt but providing much-needed funding in select areas of the macro-economy. The Mini-Budget in Short On Wednesday, Chancellor of the Exchequer Rishi Sunak unveiled the latest round of measures designed to stimulate economic activity and reduce shocks to industry and the labour market. The package, worth £30bn, is keenly focused on a number of specific areas, ultimately showing where the government … Continue reading Mini-Budget 2020: Benefits and Risks for the UK Economy

There are many things unprecedented about the times we are currently living in. Never before has the government provided such substantial and comprehensive financial support to the British public, nor have we been confined to our homes like this since the Spanish Influenza of 1919. The challenges presented by this pandemic have required drastic and innovative action across areas of policy, planning and engagement. Two areas of policy are particularly crucial at this time, known as fiscal and monetary policy. The government is responsible for fiscal policy, setting the appropriate rates of taxation and spending on different projects. Ultimately, the … Continue reading Economic Downturn – What Can Be Done to Mitigate the Shock?