UK Housing Market Conditions Weaken On Challenging Macroeconomic Factors

RTTNews | 53 dagar sedan

(RTTNews) - The UK housing market conditions weakened in March as demand faded following the end of stamp duty holiday amid rising concerns about economic outlook, survey data showed on Thursday.

New buyer demand turned negative and hit the lowest since September 2023, the Residential Market Survey from the Royal Institution of Chartered Surveyors showed on Thursday. The index slid sharply to -32 percent in March from -16 percent in February.

For agreed sales, a net balance of -16 percent in March indicated a further deterioration from the February figure of -13 percent.

Looking ahead, three-month sales expectations pointed to further dip in activity over the near term. The index hit -18 percent compared to -6 percent in February. However, a net balance of +11 percent of survey participants expect sales volumes to rise in twelve month horizon.

Regarding supply, the survey revealed that a net balance of +6 percent of contributors noted a moderate pick-up in the flow of fresh listings coming onto the market.

Focussing on house prices, the survey's headline gauge declined to 2 percent in March, down sharply from readings of 20 percent in January and 11 percent in February.

Going forward, the three-month house price expectations series logged a net balance of -26 percent compared to -16 percent in February.

Respondents expect prices to come under some downward pressure in the short-term. However, further ahead, twelve-month price expectations remained in positive territory, at 39 percent.

Taggar: GBP

UK Manufacturing Sector Shrinks Sharply

The UK factory sector shrank further in May as the weak global demand, trade tensions and rising cost burdens weighed on production and new orders, the purchasing managers' survey results from S&P Global showed on Monday. The final manufacturing PMI rose to a three-month high of 46.4 in May from 45.4 in April. The reading was also above the flash estimate of 45.1.

RTTNews | 5h 28minuter sedan

UK Mortgage Approvals Fall Unexpectedly; House Prices Rise

UK mortgage approvals declined unexpectedly to the lowest level in more than a year in April as stamp duty holiday ended in March, data from the Bank of England revealed Monday. Elsewhere, data from the mortgage lender Nationwide Building Society showed that house prices rebounded unexpectedly in May suggesting momentum in underlying demand. Approvals for home loans rose to 60,463 in May.

RTTNews | 6h 57minuter sedan

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | 4 dagar sedan

UK Retail Sales Growth Tops Expectations On Warm Weather

UK retail sales rebounded more than expected in April as good weather boosted food store sales, official data showed on Friday. A monthly survey today showed that British consumer confidence strengthened in May on hopes of easing trade tensions and the interest rate reduction by the Bank of England. Retail sales grew 1.2 percent on a monthly basis in April, following a revised 0.1 percent rise

RTTNews | 10 dagar sedan

UK Inflation Strongest Since Early 2024 On Household Bills, Employer Tax

UK consumer price inflation accelerated sharply to the highest level in more than a year in April due to higher domestic bills and the hike in employers' taxes, official data revealed on Wednesday. The consumer price index rose by a bigger-than-expected 3.5 percent year-on-year in April, which was faster than the 2.6 percent increase in March, the Office for National Statistics reported.

RTTNews | 12 dagar sedan

UK Economy Expands Most In A Year

The U.K. became the fastest growing economy in the G7 league as the country logged the biggest economic expansion in a year in the first quarter that exceeded expectations, thanks to a shift in trade activity ahead of the imposition of higher tariffs by the U.S. Gross domestic product expanded 0.7 percent sequentially, following a 0.1 percent growth in the previous quarter, the first estimate fr

RTTNews | 18 dagar sedan

UK Labor Market Cools Down In Q1

The UK unemployment rate edged up and wage growth softened in the first quarter ahead of the rise in payroll taxes, official data revealed on Tuesday. The unemployment rate rose to 4.5 percent in the three months to March, in line with expectations, from 4.4 percent in the three months to February, the Office for National Statistics reported.

RTTNews | 20 dagar sedan

UK Recruitment Activity Remains Weak In April

UK recruitment activity remained weak at the start of the second quarter as demand for staff deteriorated amid the rise in the salary inflation due to the increases in the national minimum and living wage rates, a report compiled by S&P Global showed Monday. Permanent staff appointments declined further amid reports of weak employer confidence and tighter hiring budgets.

RTTNews | 21 dagar sedan

EURUSD	1.14373	GBPUSD	1.35434	AUDUSD	0.64923
USDJPY	142.807	USDCAD	1.37092	USDCHF	0.8173

Advertisement

UK Housing Market Conditions Weaken On Challenging Macroeconomic Factors